Clients DO NOT need approval (service leader/lead associate/officer) to withdraw interest earned from a Certificate of Deposit (CD) account. When withdrawing interest from a CD, do the following:

1. Pull up an inquiry screen on the certificate. 
2. Determine the amount of interest available for withdrawal by subtracting the last renewal balance from the current balance. Note: If the certificate is an open-ended CD, check the history for principal deposits.
3. Determine the amount of interest available for withdrawal by calculating the total of interest earned not previously withdrawn or paid.
4. In Xperience > Silverlake > Time Deposit Menu > Enter/Update Time Deposit Partial Withdrawal.
5. The Accrued interest field defaults to Y. Client MUST pay the accrued interest first.
6. In the Principal Amount field, enter the amount of the compounded interest.
7. If the client requests compounded interest (interest added back to the CD), In the Penalty field, enter N.
8. Verify the amount of the interest withdrawal before processing the transaction.
9. If you process a partial withdrawal in error, complete the corrections the same day that the original transaction was processed.
10. To pay the net settlement amount to the client, on the Partial Withdrawal screen press F10. For more information, see Interest Withdrawal Payout Options.

Note: If you issue a money order or cashier’s check, the payee must exactly match the names on the certificate.