Tuesday, August 3, 2010 - 1:33 AM

Consent For Early Withdrawal For CD From USAA Bank

Ken,

It appears that USAA Bank can deny an early withdrawal of your CD even if your willing to pay the penalty. Could you please look at the language of their Disclosure Agreement and let us know if you think it says that. The language appears somewhat confusing. Also, do they allow any early withdrawals for IRA's without penalty? Thank you

lou363 posts since
Aug 3, 2010
Rep Points: 2,052

1. Tuesday, August 3, 2010 - 5:16 AM

Here is what USAA Bank's disclosure says about the early withdrawal from a CD:

Any withdrawals before the maturity date require Bank’s consent.

I can't find any details about IRA CD withdrawals.

I discussed these "bank consent" clauses in this blog post.

KenBDG5,178 posts since
Nov 29, 2009
Rep Points: 117,676