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#524774 - 03/30/06 06:57 PM Name changes on CD's
equus os Offline
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Joined: Jan 2004
Posts: 12
We have, in the past, reissued CD's in the middle of a term to make name changes for a customer without changing the original term of the CD. Since our CD's state that they are non-transberable should we be requiring that the original CD be cashed (with or without penalty) and reissued dated the date of the name change?

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#524775 - 03/30/06 08:52 PM Re: Name changes on CD's
La. Lady Offline
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La. Lady
Joined: May 2001
Posts: 1,873
We don't strike out on any CD....The original is turned in..."cashed" and we reissue thated the date of the name change.
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#524776 - 03/30/06 09:29 PM Re: Name changes on CD's
Kari Offline
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Kari
Joined: Sep 2002
Posts: 131
PA
We also do the cash in and reissue with new names.

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#524777 - 03/30/06 11:12 PM Re: Name changes on CD's
equus os Offline
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Joined: Jan 2004
Posts: 12
Is the reissued CD dated the day of the transaction?

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#524778 - 04/19/06 11:33 AM Re: Name changes on CD's
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
Yes, the reissued CD is dated the day of the transaction and reflects the original maturity date. As you note, imposition of the early withdrawal penalty is the bank's option.
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