Beware of CDs that continue to auto-renew after death at Citibank

[mathjak107]

people are quick to blame institutions when the real issue is-on their end and lack of putting things in to place they needed to do when someone is alone and alive

 

[Twostep]

I spent a number of years in banking. Call centers work with company policy. This is understandable. The amount of fraud going on is unreal. Customers can be simply unreasonable with their requests. Please read what you sign AND understand it. It is nothing personal. Nothing personal but ops post reads like he/she blew a fuse.

 

[mathjak107]

just about every cd i bought from any bank self renews unless you tell them not to . it’s in the paperwork you get .

 

[Brookswood]

Some smaller banks are more lenient. My home town bank charges no penalty when a beneficiary cashes in a CD during term, upon the death of the account holder.

If a bank is too big to fail, then it is probably too big to care. Why should they?

 

[MACKTEXAS]

If a bank is too big to fail, then it is probably too big to care. Why should they?

I guess they don't care. My town had a Bank of America branch for several years, but it's long gone now. Most people here are apparently faithful to the local bank that's been here over 100 years.

 

[mathjak107]

a bank can borrow from the fed at less cost then it cost to pay you for your money . so why should they care .

they only care about making loans since that is how they make money