CD Discussion Thread

When a large CD matures, how to move the money out is always something requiring a lot of thought.

I had a fairly large CD mature last Sunday, the funds becoming available to me early Monday morning. I telephoned the financial institution when the call center opened and wired the funds, all of them, to where they were going. It cost me $15 to accomplish this. Everything went off without a hitch, my funds were at their destination before noon, and I could move on to other things.

[Explanatory note: As is often the case, I was not permitted by the receiving financial institution to wire the funds straightaway into the account which was their true final destination. I instead had to designate a savings account in the wire instructions. Thereafter I needed to telephone that same financial institution and request the funds be moved into the CD account where I wanted them to be. And of course I could not call until my funds arrived in the first place. So a higher level of attentiveness was needed than otherwise would have been the case.]

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