Are there limits to the number of transfers and withdrawals I can make from my savings account?
- There are currently no limits to the number of transfers and withdrawals you can make from your savings account.
- In response to the COVID-19 pandemic in April 2020, the Federal Reserve Board suspended the limits to transfers and withdrawals as part of the definition of a “savings” account for the purposes of determining reserve requirements for financial institutions (Regulation D). Learn more at federalreserve.gov.
- Regulation D previously limited certain transfers or withdrawals from a defined “savings” account, including credit union money markets, to six per month. This regulation was established in the 1930s.