Depositing Funds into Open-Ended CDs

Clients can make deposits into open-ended Certificates of Deposits (CDs) at any time during the term of the CD. Deposits can be made with cash, a check drawn on good funds, or transferred from the client’s Checking or Savings account.

To deposit checks or cash into an open-ended CD, do the following:

1. Complete a CD Deposit – Regular and Individual Retirement Account (IRA) ticket for the amount of the certificate with the following information:
   • Date
   • Client name
   • Check box for specific transaction type
   • Transaction code for specific transaction type
   • CD account number in boxes above the MICR line
   • Amount of the deposit
2. Take the CD Deposit – Regular and IRA ticket to the teller line with the cash or check for the deposit.
3. The teller completes the transaction and validates a receipt to provide to the client following applicable transaction processing procedures.

To transfer funds from a Checking or Savings account into an open-ended CD, do the following:

1. Complete a CD Deposit – Regular and IRA ticket for the amount of the certificate with the following information:
   • Date
   • Client name
   • Check box for specific transaction type
   • Transaction code for specific transaction type
   • CD account number in boxes above the MICR line
   • Amount of the deposit
2. Complete a Checking/MMA Withdrawal or Savings Withdrawal ticket for the amount of the deposit.
3. The client signs the withdrawal ticket.
4. If the client is not present, do the following:
   1. Complete a Checking/MMA Debit Memo ticket for the amount of the deposit
   2. Have two associates sign the debit memo (first initial/full last name and extension).
5. Take the CD Deposit – Regular and IRA ticket with the withdrawal ticket or debit memo to the teller line for processing.
6. The teller completes the transaction and validates a receipt to provide to the client following applicable transaction processing procedures.
7. If the teller line is unable to process this, place it with the work for processing in office capture.