My stepdaughter's grandmother opened a CD with both her and my stepdaughter's name on it. As of last week, the grandmother has not been able to find the original document relating to the CD. Assuming she does not find the original paperwork, what needs to happen for that CD to be cashed out? My stepdaughter is supposed to contact the bank where the CD is, but I thought I would also ask what she and her grandmother need to do.
Either of the owners can contact the bank about cashing the CD or doing whatever they want with it. Most banks don't issue the actual CD nowadays and most are not transferable, so the bank should be able to look it up easily. The question is, can either person conduct transactions on it, or is it styled such that both are needed? A telephone call to the bank should clear that up quickly.
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Either of the owners can contact the bank about cashing the CD or doing whatever they want with it. Most banks don't issue the actual CD nowadays and most are not transferable, so the bank should be able to look it up easily. The question is, can either person conduct transactions on it, or is it styled such that both are needed? A telephone call to the bank should clear that up quickly.
