Certificate of Deposit Screwup

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Went to my local First Virginia Bank to get a CD. The clerk entered the CD info into her terminal and tried to print it out. The printer jammed. She saved the information and went to another terminal to print it out. When the CD info popped up on the other screen the interest rate was 524% instead of 5.24% and the principal amount was 0. All info had to be reentered. Hmmmmmm.

-- fatanddumb (fatdumb@nd.happy), December 25, 1999


The question is: why you would want to get a CD only a week before January 1, 2000? If you have the money to do something with, why not get it in cash and hold the cash for a month or so to see what's going to happen before you tie it up in a digital CD?

-- cody (cody@y2ksurvive.com), December 25, 1999.

Indeed, what's with this kind of a transaction at this moment in time. Just a personal opinion, but I don't think it's too smart. In the matress for a few weeks or a month or so would be wiser under the present circumstances.

-- Richard (Asdtral-Acres@webtv.net), December 25, 1999.

Sheesh, if you really want a CD, what are you doing with 5.24%???

Shop around, ask if they offer matching rates. Check out Telebank, $1,000 minimum, 12 month CD = 6.52 APY.

ht tp://www.telebank.com/telebank/products/CD/cd_default.asp?

You may wish to wait 'til after Y2K to start an internet bank account though... <:)=

-- Sysman (y2kboard@yahoo.com), December 25, 1999.


I see that you're from Virginia. Telebank, an "internet bank," is located in Arlington, VA. <:)=

-- Sysman (y2kboard@yahoo.com), December 25, 1999.

Apart from the wisdom or lack thereof to a CD purchase one week before the Big Day, I think the fact that the bank's computers managed to munge the numbers is not very supportive of the "BANKS GET IT" message they've been pumping out like a California sewer.

-- Ron Schwarz (rs@clubvb.com.delete.this), December 26, 1999.

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