Thread Starter: Third Trip
Title: Re: No Longer Able To Send Check for CD Interest?
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The environment is very odd at this point in time. There's a lot of money in the system right now. As Brian stated above, cost of postage and low rates probably impacted this decision, but they may have also decided that the cost and resources to create and handle checks are better allocated to other operational issues, especially if they are having staffing challenges. The bank may have accepted the risk that this change may result in some deposit loss.
You never really indicated if you have a single (albeit significant) account with this bank, or a relationship (long-standing account holder; multiple accounts, including checking accounts; business and personal accounts; loan and deposit accounts, etc.). If you have a relationship, the bank may be much more likely to listen to and address your concerns. A bank is typically anxious to hold on to relationships because there was a lot of time and effort put into building those, but may be somewhat less concerned that they may lose some accounts, especially if it's one account that is easy to move.
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