GE Capital Bank Complaint: Account opening, closing, or management

#1426849 18 Jun 2015

Bank account or service (CD) Certificate of deposit

Complaint #1426849 submitted on 06/18/2015 relating to GE Capital Bank. Complaint relates to Bank account or service (CD) Certificate of deposit - Account opening, closing, or management .

Complaint was submitted via Web and sent to the company on Thursday 18th June 2015.

Narrative (may be redacted).

I have several CD 's at GE Capital Bank XXXX online bank ). They are maturing at different dates in the month of XXXX. A month prior to each of the CD maturity dates, GE sent me an email notice informing that my CD would mature within a month and that I needed to contact them by phone to give them instructions on how to disperse the money. In the absence of my contacting them, the money would automatically rollover into another CD of the same maturity length of time. After I received the emails I called GE to request, upon maturity of my CDs, that the principle and interest be deposited into my online saving account and not to automatically roll the CDs over into another CD. The GE representative informed me that they could not process my request until the actual maturity date of the CD. However their previous email is misleading in that respect. It implies that I could call them at any point between the time that I got the email to the time of the CD maturity. Below is the copy of the email that they sent me : This notice is to inform you that your XXXX CD Account with GE Capital Bank is due to mature on XXXX/XXXX/2015.

Please contact us by the maturity date with instructions on how you want to renew your CD. If you do not contact us, your entire balance will be automatically rolled over into a XXXX CD. The interest rate and the annual percentage yield ( APY ) have not yet been determined. Please call after the maturity date listed above for the current renewal information.

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