We have Fed guidance regarding MMDA account transaction limitations that indicates that "...excess transfers occur in not more than three months during any 12-month period."
Based on our understanding, we change the account to a DDA at the fourth occurance in any 12-month period. Our reasoning being that "...not more than three..." means that three occurances in 12 months is OK (i.e., three times is not more than three). Are we reading this right?
What, me worry?
We do 'three strikes in a rolling 12-month period and you're out'. If you don't change the account after the third occurence, then there is a possibility of a fourth occurence and you've now allowed it to go over the limit.
I hear and I forget. I see and I remember. I do and I understand.--Confucius
I agree with Doug, if it is not more than three? Three strikes you are out it is..
The opinions expressed are my own, take them or leave them.