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#51735 - 01/02/03 07:16 PM Filing Certificate of Deposits
nroser Offline
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Joined: Jan 2003
Posts: 4
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
Kara S Offline
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Joined: Oct 2002
Posts: 927
Milwaukee, WI
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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#51737 - 01/02/03 07:57 PM Re: Filing Certificate of Deposits
EllenA Offline
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EllenA
Joined: Nov 2002
Posts: 598
Flushing, NY
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
Andy_Z Offline
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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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#51739 - 01/02/03 08:02 PM Re: Filing Certificate of Deposits
BrendaC Offline
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BrendaC
Joined: Sep 2001
Posts: 6,029
Sweet Home AL
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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#51740 - 01/02/03 08:09 PM Re: Filing Certificate of Deposits
EllenA Offline
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EllenA
Joined: Nov 2002
Posts: 598
Flushing, NY
Terrible thing to admit, but yes we do have dual checking account filing. Bookkeeping keeps the cards numerically and customer service/tellers keep them alpha (I'm at a small bank so both areas are in the same "house"). Oh, and we do have computers too
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#51741 - 01/02/03 10:31 PM Re: Filing Certificate of Deposits
Harvey Offline
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Harvey
Joined: Feb 2001
Posts: 146
Ellen, we are also a smaller size bank and keep our cards filed alpha as part of our business resumption plan. No power, means reverting back to the olden days of looking up the customer's account number without a computer at hand.

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#51742 - 01/03/03 03:30 PM Re: Filing Certificate of Deposits
complyguy Offline
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complyguy
Joined: May 2001
Posts: 494
PA
Sounds like my shop. Since you have computers, maybe you can tell me where to get replacement vacuum tubes?
(For those of you too young to understand, ENIAC - the first computer - and other first-generation computers used vacuum tubes. It took a whole roomful of computer to do what a $3 calculator does now.)

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#51743 - 01/03/03 04:40 PM Re: Filing Certificate of Deposits OFF Topic
Andy_Z Offline
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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.
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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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#51744 - 01/03/03 05:06 PM Re: Filing Certificate of Deposits OFF Topic
Dan Persfull Online
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Dan Persfull
Joined: Aug 2002
Posts: 47,016
Bloomington, IN
In reply to:

....but I remember it.


Unfortunately, I do too!
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#51745 - 01/03/03 05:28 PM Re: Filing Certificate of Deposits OFF Topic
Skittles Online
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Skittles
Joined: Sep 2002
Posts: 13,964
TN
Me too and I remember the old rotary phones very well. I also remember my grandparents party line.
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#51746 - 01/03/03 06:35 PM Re: Filing Certificate of Deposits OFF Topic
Michelle M Offline
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Michelle M
Joined: Oct 2002
Posts: 422
I've never see "dialing for dollar", but it might make you feel better to know not only do I remember rotary phones (which were rented from the phone co not purchased), but my bestfriend still has a wooden phone with a cloth covered cord.
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#51747 - 01/03/03 07:33 PM Re: Filing Certificate of Deposits OFF Topic
EllenA Offline
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EllenA
Joined: Nov 2002
Posts: 598
Flushing, NY
A couple of years ago, a friend (& BOL user)came to visit NYC and stayed at the Pennsylvania Hotel. I, when calling 411 for the phone number I jokingly (I thought) asked to no one in particular, I guess it should be Pennsylvania 6-5000, and amost fell of my chair when it actually was everyone just kinda looked at me and blinked
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