Sample Deposits For ACH Transfers

jpk | Mar 30, 2017 | 7 posts since 2017

Looking for input. I'm finding that I have to go thru the sample deposits when opening a new CD acct via ACH transfer- even though the same checking acct was used to open prior CDs. Having this problem currently w/CIT bank-even though I currently have active CDs which were ACH'D from the same checking acct.

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topkapi56 | Mar 30, 2017 | 48 posts since 2011

Not sure if I am understanding exactly what you are saying. You are using a Cit bank checking account to fund a CD somewhere else or you are using a checking account from somewhere else to fund a CD at Cit bank? If the same checking account was used to ACH money to open prior CD's at the bank you are now attempting to open another one, that would seem to me to be unusual. I may be misreading your problem though.

jpk | Mar 31, 2017 | 7 posts since 2017

I was attempting to open a new CD acct with CIT bank and funding it by an ACH transfer from my local checking acct. I curren tly have CD accts w/CIT- all funded by ACH transfers from the same local checking acct. However, I was advised that I would have to go through the sample deposit/withdrawl as I had done approx. 4 yrs ago when first opening CD accts w/CIT. None of my personal data i.e. address, checking acct bank etc. has changed since then. Time wasted while sample deposits, ACH transfers(if no problems) take place can take up to two weeks(counting weekends)while your money sits in a no interest checking acct.

MidAtlantic | Mar 31, 2017 | 142 posts since 2012

I have several CDs with CIT and only had to do sample deposits the first time.

jpk | Mar 31, 2017 | 7 posts since 2017

Mid Atlantic
Have you opened any CDS w/CIT in the past 6 months? I think this new policy isfairly recent.

MidAtlantic | Mar 31, 2017 | 142 posts since 2012

No, sorry I should have made that clear. My last one was over a year ago.

topkapi56 | Mar 31, 2017 | 48 posts since 2011

Ah ok. That must be some new policy unique to Cit bank. I have always had to do sample deposits only once per bank. Having to do that every time I wanted to add an account seems way more trouble than it would be worth. I have an average amount of patience, but if a bank I deal with started this, it would discourage me from doing business with them in the future. I had a different issue with Capital One 360 and finally just gave up and closed the account I was attempting to add a substantial amount of money to. I might have stuck with it, but the CSR's I dealt with did not know how to fix the problem. I tend to shy away from that kind of thing in a hurry. Good luck with your problem.

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