Monday, April 26, 2010

If i cash in a cd early, how long does it take to get the money?

If I have cd's worth 300,000 in a bank in Knoxville, TN, and decide to cash in early, how long will it take to get my money? Do I have to wait for the actual money to arrive at the bank or will the funds be available once the money is wired? They have been giving me the runaround for 4 mos.

If i cash in a cd early, how long does it take to get the money?
First, look at the "terms and conditions" printed on the CD.


The money, after being "wired" to your bank(institution) should be immediately available to you, depending on your bank's "terms and conditions".


A runaround? Call the TN State Banking Commission.
Reply:When you cash in a cd, you should get the money the same day or no later than the next day. Keep in mind that you will have an early withdrawl penalty for cashing it in early. You should not be getting any "run around" and I am curious why you have been waiting four months. How long was the term on the original cd??


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