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#51735 - 01/02/03 07:16 PM
Filing Certificate of Deposits
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New Poster
Joined: Jan 2003
Posts: 4
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We manually file CD's alphabetically and also numerically. When a CD matures, we pull the CD and then re-file it in a seperate file, both alphabetically and numerically. We are looking at ways to make our operation more efficient. Is there any reason why we couldn't just file the CD's numerically?
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#51736 - 01/02/03 07:26 PM
Re: Filing Certificate of Deposits
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Platinum Poster
Joined: Oct 2002
Posts: 927
Milwaukee, WI
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I could be wrong so don't quote me on this, but I don't think there are laws telling you how to file things only laws to tell you what to file (record retention). I really think it is a matter of what works for you...but don't quote me on that!
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My opinions are not to be construed as legal advice.
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#51737 - 01/02/03 07:57 PM
Re: Filing Certificate of Deposits
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Platinum Poster
Joined: Nov 2002
Posts: 598
Flushing, NY
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I agree with Kara that there doesn't seem to be any regulatory issues here. But, if filed only numerically,what if the customer doesn't remember the CD number, how would you find the CD?
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#51738 - 01/02/03 08:00 PM
Re: Filing Certificate of Deposits
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Joined: Oct 2000
Posts: 27,763
On the Net
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This sounds like "the way we've always done it". While that may have been efficient some years ago, your volumes may have outgrown this.
Whatever works is best, as Kara said. Keep in mind that some banks don't even issue paper CDs any more. Everything is done on the system. You may opt to file them one way, and just be able to research it online in many ways.
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AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#51739 - 01/02/03 08:02 PM
Re: Filing Certificate of Deposits
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Power Poster
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
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If you have a core operating system which enables you to access customer files by name and account number, you should find conversion to a numerical CD document filing system fairly painless. After all, you probably don't maintain a dual checking account file, do you?
Conversions of any kind aren't fun though. Good luck!
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Life without Jesus is like an unsharpened pencil - it has no point.
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#51743 - 01/03/03 04:40 PM
Re: Filing Certificate of Deposits OFF Topic
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Joined: Oct 2000
Posts: 27,763
On the Net
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Some of these young pups don't know where the phrase "dial a telephone number" comes from since you push the numbers. They'll never see Dialing for Dollars on the afternoon TV. I don't know if that was everywhere or not, but I remember it.
_________________________
AndyZ CRCM My opinions are not necessarily my employers. R+R-R=R+R Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell
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#51745 - 01/03/03 05:28 PM
Re: Filing Certificate of Deposits OFF Topic
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Joined: Sep 2002
Posts: 13,965
TN
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Me too and I remember the old rotary phones very well. I also remember my grandparents party line.
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