Change To Ally Bank Deposit Agreement Terms For CD Early Withdrawal

primary:  More banks are changing the language for Early Withdrawals to the "If we consent" etc.  It does seem a bit scary but frankly I don't think a bank like Ally would refuse an early withdrawal unless they really had problems since word would get around fast.  When I have asked certain bank managers about this I am told it is just language they use but they do everything to convince me they would not stop me if I needed the funds.  However, I know that if push comes to shove their written word in the CD can be upheld so I try to spred by CDs around especially to banks or credit unions who don't have this wording in their CD info.  Thanks for sharing the new Ally info.

This language regarding CD early withdrawls by customers contained in agreements/disclosures has been discussed in detail in previous blog posts by Ken:

http://www.depositaccounts.com/bl...ml#comment

http://www.depositaccounts.com/blog/issues-of-long-term-cds-and-early.html