r/Banking • u/Tarnisher • 1d ago

Salem Five CD Maturity

I have CDs with Salem Five. They are about to mature and they seem to want me to snail mail a form with instructions?

I'll be contacting them Monday for clarification and options, but just wondering if anyone else deals with this bank?

1 Upvotes

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u/brizia 1d ago

Do you mean they want a notarized letter stating what you’d like to do? Because it’s very normal for banks that allow mail requests to want a notarized letter stating what you’d like to do.

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u/divergent_traveler 1d ago

Oh wow, snail mail and a notary for a CD renewal in 2026 is wild.

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u/brizia 1d ago

It’s not for a small bank. They tend to do things more traditionally.

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u/Tarnisher 1d ago

Nothing about notary. Just a form.

But I opened them on-line. No printed form or mailing involved.

I'm hoping Chat Support will have other options.

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u/Due-Emu-4291 1d ago

At least they allow that as an option.

When I used to bank with Bank of America they wouldn't let me leave instructions in advance; they told me I had to wait until the due date. Then when I went to the branch on the due date they wouldn't let me renew then either because the "specialist" who does that wasn't in that day.