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#1124660 - 02/06/09 04:31 PM CD Receipt or CD Document
5goldfish Offline
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Joined: Feb 2008
Posts: 9
If we do not issue statements on a CD, must we issue a CD Document or can we issue a CD Receipt? I have been reviewing Reg DD and can't find anything. Since it is a CD Document, we require the customer to return the signed CD to us for cancellation or sign another document to that effect (similar to the old passbook style accounts).

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#1125735 - 02/09/09 02:14 AM Re: CD Receipt or CD Document 5goldfish
rlcarey Offline
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Joined: Jul 2001
Posts: 82,149
Galveston, TX
This is determined by however the bank wants to manage the process. Since these certificates are non-negotiable, basically a CD reciept or a CD document are one and the same. They have no value as a piece of paper and the actual deposit only exists within the bank's records.
The opinions expressed here should not be construed to be those of my employer:

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