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#1972095 - 10/27/14 03:20 PM Regulation D Covered Transaction Question
Cedar Point Guy Offline
Platinum Poster
Cedar Point Guy
Joined: Nov 2009
Posts: 732
Cedar Point
Hi All,

With regards to the six covered transfers for regulation D, would one of the covered transfers be for the bank taking out fees with regards to a covered transfer? Example: Business money market account where the customer has 5 wire transfers out of the money market account. The bank charges the customer a fee that is taken out once a month for the wire transfers. Would the fee that is taken out by the bank and paid to the bank be considered a covered transfer and put the customer at the six covered transfers?
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#1972154 - 10/27/14 06:25 PM Re: Regulation D Covered Transaction Question Cedar Point Guy
Dani York, CRCM Offline
Power Poster
Dani York, CRCM
Joined: Apr 2005
Posts: 3,663
TN
I don't count bank fees as a covered withdrawal.
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#1972179 - 10/27/14 07:20 PM Re: Regulation D Covered Transaction Question Cedar Point Guy
ComplianceGurl, CRCM Offline
Gold Star
Joined: Jul 2007
Posts: 498
FWIW: We do not either.

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#1972255 - 10/27/14 09:09 PM Re: Regulation D Covered Transaction Question Cedar Point Guy
Sunshine Lady Online
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Sunshine Lady
Joined: Apr 2014
Posts: 629
Ditto
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