10/14/2002
When a MMDA account is closed for writing more than three checks within a statement cycle, (Regulation D's requirement), can our institution reopen another MMDA for this customer? If so, what time frame do we have to wait?
09/02/2002
If you perform a transfer from a savings product to a loan within the same financial institution via home banking or audio response, should it count towards the Reg D limit?
08/05/2002
This is a Regulation D question regarding the transfer of funds from a savings (or MMDA) to a transaction account like a "sweep" for overdraft protection. I have always heard that this is one of the types of transfers that does count against the six allowed per statement cycle. However, I just noticed, in 204.2(d)(2), in the portion of the paragraph that describes transactions that do not count against the limits, the following: "an account is not a transaction account by virtue of an arrangement...that permits the transfers of funds from this account to another account of the same depositor at the same institution". This sounds like a typical "sweep" transaction from a savings account to a transaction account. Please explain the difference.
08/05/2002
Can a bank offer a corporate savings account? Anything I need to look out for.
07/01/2002
It is our bank policy that corporations can not transfer funds from account to account. The corporation would have to write a check from one account and deposit that into the other account. Is this also a federal regulation and/or something covered by the Uniform Commercial Code?
07/01/2002
How do you handle when a customer has too many transactions on a statment savings account? Do you close the account, change it to a noninterest account?
06/17/2002
If a customer is only transferring funds from his NOW account to his own checking account, can he make six transfers within the statement period by check without violating Reg. D guidelines? Can this info be found in Reg. D?
06/03/2002
Can MMDAs be monitored for excessive transactions on a calendar month versus the account's statement cycle? For example, a particular MMDA cycles on the second Tuesday of each month but our excessive report looks at activity from the first day of a month through the end of the month?
06/03/2002
Does the periodic statement exception <a href="http://www.bankersonline.com/regs/205/2059.html">205.9(c)(1)(i)</a> for passbook accounts apply to telephone banking transfers or to ATM activity on a passbook savings account? We are adding ATM access and Telephone banking and were wondering if the passbooks were exempt from the periodic statement requirement. If not, it would probably be easier for us to only offer these services with a statement savings account.
05/06/2002
After reading Reg D several times, I still have questions. If I understand it correctly, a customer can withdraw or transfer from a savings account as many times as he chooses if it's in person. Is this your understanding?