Absolutely. We will send you a notice about 35 days prior to maturity. Then, as the authorized signer of the CD, you must sign in to your account online and set your maturity instructions – either to transfer the maturity value to a Business Savings Account or external linked business checking account, or renew the CD at the rate available on the maturity date. If you don’t set maturity instructions, the CD (including accrued interest) will automatically be renewed at the rate available on the maturity date.
To set up or change your Business CD maturity instructions, follow these steps:
It takes 2 bank business days to transfer money from your Business CD into your external linked business checking account. Bank business days don’t include weekends or federal holidays. Learn more Opens a new window about how transfers work.
On the maturity date, your Business CD (including accrued interest) will automatically renew at the rate available on the date of maturity. However, as a courtesy, you have a grace period that starts the day after maturity and lasts for 10 calendar days. During this time you can add funds to your CD, change the term or redeem it without penalty. If you choose to make changes during your grace period, follow these steps:
Of course. Instead of rolling over your CD, just select the option to close your CD at maturity by clicking on your CD, going to the 'Maturity Options' tab and clicking the 'Close' button under the 'Close Your Business CD' section.