Saturday, January 19, 2013 - 2:09 PM
Opening A CD With CIT Bank Requires A Lot Of PatienceCIT Bank
I currently have eight CDs at CIT. I also have a good deal of money coming due from traditional banks that offer .025% for renewals, so I am having those banks mail redemptions to my credit union money market account. Although it was painful to open the initial CDs at CIT originally, I decided to open more CDs with CIT because of their interest rates. First day: I entered all of my information and all of the sudden I was logged out and lost all of the data I inputed. I couldn't go through that process again until my blood pressure went down. Following day; Just when I was close to inputting all of the required information (except for a problem that required me to phone customer service), blammy: I was logged off again. I called customer service. The agent was able to locate the information I typed in but then had to ask security questions from my initial CD accounts. Fine. Then, to open the new CD accounts, I was asked for passport/drivers license number, social security card, and a utility bill with my address on it. I replied that I have passport scan on file that I can email as an attachment and that I am at the same address as when I took out the initial CDs. He replied that I would still have to send a copy of my utility bill showing my address. Blood pressure problem again. I replied that I would not complete the process and asked him to make a note to not renew the CDs I had with CIT when they matured, but to mail the checks to the address that CIT has on file for them. I have never had such a frustrating experience in dealing with a financial institution.
1. Sunday, January 20, 2013 - 4:34 PM
James: You must be looking for a different type of CD than I am to go through all that frustration with CIT. I checked out their rates on their webpage and did not see anything worth raising my bp for. I would be looking for 5 year CDs and found others who give better rates than CIT. For example Penfed CU, Digital CU etc. all give better rates than CIT and I dealt with them and opening was a breeze especially with Digital who has a Shared Branch in my area. Like I said, CIT must have something you are especially interested in which many others don't to go through that frustration to give them your money. I was just curious what that was.
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Aug 10, 2011
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