Ally CD Maturity

[kaneohe]

Today I opened an Ally 11mo. no penalty CD. I gave instructions for CD at maturity. I then got an e-mail from Ally:

We received your renewal instructions
CD Account: No Penalty CD/xxxx
We'll update your CD on your maturity date.

What do you think I asked them to do?

 

[Ready]

I don't think you can determine from that message. "Renewal instructions" could be referring to an instruction not to automatically renew on maturity. Banks are not known for writing the most articulate of communications to their clients.

 

[kaneohe]

Well, I guess you speak better "bankese" than I do. I interpreted the last sentence "We'll update your CD on your maturity date" as meaning
"We'll renew your CD on your maturity date"

The rep said their "confirmation" was a generic "got your instructions" but was
not confirming anything other than that. I told her than it would be nicer if the confirmation was a meaningful confirmation of what the action would be at maturity so that the customer understood what was going to happen then.

 

[jazz4cash]

Ha! My NFCU 17 mo special CD rolled over to a new 17 mo CD but they don't list this maturity in their current offerings and the rate column for my renewal is blank.