Reg D - Cashier's Check Payable to a Third Party Answer by Jim Bedsole, BOL Guru Guru Bios
Question: If a customer comes into the bank and uses his money market account to purchase a cashier's check payable to a third party, will that count against the maximum number of withdrawals the customer can make from the account relative to regulation D?
Answer: In-person withdrawals do not count against the limit for Reg D transactions, regardless of where those funds go.
[Editors Note: As of 7/2/09, the separate limit of three per month for checks, POS debit card transactions, etc., has been eliminated, and those transactions are now only subject to the 6/month limit that applies to other restricted transfers and withdrawals.]
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