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Wire Transfers and Reg D

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Do outgoing wire transfers count in the Reg D limits? If so, are they included in the 3 limit or the 6 limit?

It depends on how the request for the wire transfer is delivered to the bank.

If the request is presented at the bank in person or by customer-hired messenger (or other agent of the customer), it need not be counted under Regulation D requirements.

If the request is received by telephone, fax, e-mail, on-line banking service or any other method utilizing telephone or data transmission, the transfer counts in the six hopper.

The one potential exception would be a wire request initiated through an ATM, if such could be done. That would be considered as if done in person at the bank.

[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.]

First published on 12/1/03

First published on 12/01/2003

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