Navigation:  Deposit Screens > Definitions Screen Group > Event Setup Screen > MMDA Limit Exceeded

There are two processes (explained below) that can be used to generate this event in the daily afterhours. You can use both of these options in your institution, but they cannot both be set on the same account. The accounts must be set with a General Category 5 (savings) or General Category 6 (Money Market).

 

Option 1:

Any money market or savings accounts with a statement cycle of 102–131 will create an event record on the last day of its cycle each month if it has exceeded the Regulation D withdrawal transaction limits. Accounts on a quarterly or monthly Statement Cycle will generate at the end of each month.

 

OR

 

Option 2:

A series of three letters can be created, and a product roll can be processed according to your institution's preferences based on a compliance period. A letter for any account with a statement cycle of 102–131 will be created on the last day of the account cycle each month if the account has exceeded the Regulation D withdrawal transaction limits. Letters for accounts on a monthly or quarterly statement cycle will generate at the end of each month.

 

 

These settings can be defaulted using the Product Code setup screen.

 

Both of these options use the Regulation D limit of six withdrawal transactions per month and are determined by the information in the following fields on the Deposits > Activity Information screen:

 

•the account’s number of withdrawals indicated in the Withdrawals Count (DMWDCY),

•the number of checks indicated in the Checks Count field (DMCKCY),

•the number of purchases indicated in the Debit Card Used Cycle-to-Date field (DMCDDC),

•the number of Remote Banking Count (DMGPTN), and

•the Transfers Out Count (DMXFCY).with telephone transfer marked by the teller, or any afterhours transfer out.

 

Checks that are converted to ACH Items standard entry class RCK, ARC, POP, or BOC will count as check items if a check number is sent with the ACH transaction TORC 305.

 

Event Number: 1080, 1180 (No Mail - See the main Event Setup Screen help for more information on the No Mail Option.)

 

Option 1: Event Letter: 0005 = Savings account, 0006 = Money market account

 

OR

 

Option 2: Event Letter: Using this option, your institution decides what the letter numbers will be and enters them on your accounts and products.