Requesting a 6.00% CD at World Savings with Old Money
Oct 2, 2006 - 7:07 PM by Ken Tumin
For those who have a World Savings Double Reward CD which has matured, you might want to try to move that money into a World Savings 6% CD. If you let the CD automatically renew, it's not that bad since it'll renew at the same 5.76% APY for another 3-month term. But if you can get 6% for a longer term, that's even better. In 3 months, it may be hard to find 6% deals.
There is currently a non-advertised 6.01% APY 7-month CD special at World Savings which requires new money (see post). My Double Reward CD had matured on Sunday. I was planning to close this CD, transfer the money to my World's checking account, do an ACH from my GMAC money market account and then open this new 6.01% 7-month CD at the branch later this week with a check from GMAC. Instead I called the branch and asked if I could request a transfer of the money from the CD into my checking account so I could use it to fund a Citibank 6% 6-month CD (which is still available for those in Texas). The service representative offered to match that CD. So I agreed, and she changed the CD from the 5.76% 3-month to a 6.00% 6-month CD.
I've read many examples from people who have been able to negotiate better rates on CDs. So I've learned it never hurts to ask, and if you can provide evidence of a better rate elsewhere, you'll have a better chance in the negotiation.
6.01% 7-Month CD Special Uncertainty?
The 6% 6-Month CD that I received may not be quite as good as a 6.01% 7-month CD, but it's very close, and it was very easy to do. I was a little worried about this new special 6.01% CD. Some have reported that their local branches are no longer offering it (see post comments) even though I was originally told that it would last till October 21st. Also, I've had more difficulty in confirming this special than previous ones. My usual local branch refused to confirm it. I had to call another branch to confirm it. World seems to be getting tougher with these secret CD specials.
There is currently a non-advertised 6.01% APY 7-month CD special at World Savings which requires new money (see post). My Double Reward CD had matured on Sunday. I was planning to close this CD, transfer the money to my World's checking account, do an ACH from my GMAC money market account and then open this new 6.01% 7-month CD at the branch later this week with a check from GMAC. Instead I called the branch and asked if I could request a transfer of the money from the CD into my checking account so I could use it to fund a Citibank 6% 6-month CD (which is still available for those in Texas). The service representative offered to match that CD. So I agreed, and she changed the CD from the 5.76% 3-month to a 6.00% 6-month CD.
I've read many examples from people who have been able to negotiate better rates on CDs. So I've learned it never hurts to ask, and if you can provide evidence of a better rate elsewhere, you'll have a better chance in the negotiation.
6.01% 7-Month CD Special Uncertainty?
The 6% 6-Month CD that I received may not be quite as good as a 6.01% 7-month CD, but it's very close, and it was very easy to do. I was a little worried about this new special 6.01% CD. Some have reported that their local branches are no longer offering it (see post comments) even though I was originally told that it would last till October 21st. Also, I've had more difficulty in confirming this special than previous ones. My usual local branch refused to confirm it. I had to call another branch to confirm it. World seems to be getting tougher with these secret CD specials.
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Anonymous - #1, Monday, October 2, 2006 - 7:37 PM
...and will get even tougher now that they have oficially merged with Wachovia today.
Anonymous - #2, Tuesday, October 3, 2006 - 1:06 PM
I contacted World Savngs at Savings Customer Contact Center and they confirmed in writing (e-mail) that the promotional branch account 7-Month CD, 6.01 APY is available until 10/21/2006.
P.D. (anonymous) - #3, Tuesday, October 3, 2006 - 1:45 PM
Good news, could you forward this email to me? So that I can show it to them in case they say no.
P.D. (anonymous) - #4, Tuesday, October 3, 2006 - 2:00 PM
Sorry, my email is pdchen68@hotmail.com
Thanks.
Anonymous - #5, Tuesday, October 3, 2006 - 2:16 PM
I just contacted 2 branches & they really are very secretive about it. Both CSRs asked if if I have the direct mailer. I told the first CSR I did not, upon which she said that special is NOT available & went off on all their "available specials" none of which were as attractive as this one. I told the 2nd CSR that I DO have the flyer, upon which he told me that I could come down to the branch with the flyer & open my account! I am currently enrolled in their previously unadvertised, 9-mth 6.01% cd that I found out about from this site & had no problems opening it. I wonder if I should just go down to the branch with my cashier's check sans flyer even for this one & see if they give it to me? Surely they can't turn away cold, hard cash!
P.D. (anonymous) - #6, Tuesday, October 3, 2006 - 5:09 PM
I just called them, and they said that there is 6.01% APY, but needs new funds.
Mark (anonymous) - #7, Wednesday, October 4, 2006 - 11:08 AM
I called the Fort Lee, NJ, branch today and talked to the branch manager, Steve. He verified the 6.01% apy and offered to set up an account by mail as long as I have the applicationa and signature cards notarized. Two other branches in Fl refused to do so.
P.D. (anonymous) - #8, Wednesday, October 4, 2006 - 11:04 PM
I just opened another 6.01% 7 month CD toady (in Bay Area). No any problem, the clerk was nice too. I told her that I reveived notice that your branch has 6.01% promotion CD. She said "yes" (without delay), "but need new funds".It seems every body knows.
I think WorldSavings knows where the mailer should be, and in that area, all branches accept it.
Anonymous - #9, Friday, October 6, 2006 - 2:03 PM
Opened another 6.01% APY CD this week, with a little more effort than the last one. CSR said OK, then after waiting for another CSR to open CD they asked for flyer, After getting around that hurdle they then claimed it could not be opened in Texas branch (Already had one, needed more FDIC coverage) Another CSR figured a way around that, so I got the CD with a little extra effort, some aggravation, and conversations with several CSRs.
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