Share Draft Checking

Whether You're Paying Bills, Buying Gas, or Need Some Cash, with a FASNY FCU Share Draft Account, We Bring the Free Back to Free Checking

  • FREE ATM/Debit Card Access

  • FREE Checks

  • FREE Online Banking

  • FREE Direct Deposit

  • FREE Automatic overdraft protection from Savings

  • FREE Access to cash through our surcharge-free ATM network

  • Access to the Shared Branching Network

  • No monthly service charge—No per-check fee

  • Dividends paid on balances over $50.00

  • Overdraft line-of-credit available (credit application required)

PLUS… Free Online Bill Payment

  • Bill pay is a convenient way for you to pay all of your bills from one secure website. Just imagine no more handwritten checks, envelopes, or stamps

  • Bill pay is a great time and money management tool. There’s no remembering multiple passwords and jumping around to multiple websites to pay your bills

  • Pay your bills in minutes! You can pay your first bill in two simple steps: Add a Payee (any merchant or person you need to pay) and Schedule a Payment

  • Save on the cost of envelopes, stamps, and trips to the post office.  Not to mention recurring payments that can save on late fees and finance charges accrued by busy people who simply forget to make their payments

  • Online bill pay is recommended by security experts as one of the safest ways to pay your bills. According to research, 90% of identity theft does not occur through the Internet.* Identity thieves still use the tried and true methods of stealing mail or discarded trash. Combined use of online banking and online bill pay helps to protect consumers against identity theft and check fraud. For additional security, online bill pay requires 128-bit encryption and personalized log-in information

*Research gathered by Javelin Strategy & Research. 

Regulation D FAQs

What is Regulation D?

  • Federal Regulation D places a monthly limit on the number of transfers you may make from your savings accounts without your physical presence being required 

What transactions are affected by Regulation D?

  • Transfers made using Online Banking

  • Overdraft transfers (made automatically to cover insufficient funds in other accounts; see below)

  • Transfers made by a Member Service Representative on your behalf (including telephone transfers)

  • Pre-authorized, automatic, scheduled or recurring transfers

  • You are allowed six such transfers per month, per account

What transactions are NOT affected by Regulation D?

  • ATM transactions

  • Transfers made to FASNY FCU loans

  • Transactions done in person at a branch (including shared branches)

  • Transactions sent in by mail with an original signature

What are my options once an account has reached its Regulation D limit?

  • You may complete withdrawals and transfers in person, by mail, or at an ATM

If an account used for Overdraft Protection has reached its Regulation D limit, will overdraft requests be honored?

  • Yes, if the Overdraft Protection account is a Savings Account. However, if the Overdraft Protection account is a line-of-credit loan (which is not affected by Regulation D) the overdraft will complete normally. To apply for a line-of credit loan, apply online or contact us

I have authorized a merchant to automatically withdraw payments from my Savings Account; do these count against my monthly limit?

  • Yes, these payments (which you might know as "ACH" or "EFT" transactions) follow Regulation D limitations. Any withdrawals attempted beyond your monthly limit will be honored, and you will incur an excess share transfer fee. To avoid this situation, make automatic payments using something other than a savings account, such as a checking account. Contact the merchant to arrange this change, and be aware that your request could take more than a month to go into effect. Alternatively, consider using Bill Pay to automatically send payments to the merchant, rather than authorizing the merchant to automatically withdraw payments