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Truist Restricting There Cds

GH1
  |     |   1,053 posts since 2017

Looks like where Truist has retail branches they restrict even there brokered CDs

Truist Bank

Death Put | | TFC | Interest at Maturity | Restricted States: AL,AR,DC,FL,GA,KY,MD,MS,NC,PA,SC,TN,TX,VA,WV

Very bad policy. They do not want you to be able to buy there cds in states with branches. I remember asking them this a few months ago. They said they need to make money . I said so do I. And no longer a customer

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Answers
txFish1
  |     |   476 posts since 2023
@GH1 There is a Truist branch within right next to my house and I have banked there for a while and not too long ago same thing happened to me except when I asked about it she just shrugged her shoulders and said sorry this is just our policy. I like you am not a customer of theirs any longer
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DepositGuy835
  |     |   21 posts since 2015
If you are talking about a "revocable trust", put the bank account in your name and make the trust the beneficiary. It accomplishes the same thing. More importantly if the account is in the name of a trust it will not have regulation E protection against unauthorized transfers!
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Robb
  |     |   322 posts since 2018
My brother opened a CD at Truist a couple of months back (I told him he could do much better but he didn’t want to open up a new account at another bank) in one of the states listed above. And have you looked at their stock price lately…Ouch!!

Edit…I see the OP referenced brokered CD’s.  This was a direct CD,
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1


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