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Can my Mother change a CD to a Money market

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jjwins

Junior Member
What is the name of your state? OH

My mother went to deposit a payout from a matured annunity June 28th. She told the tell er she wanted a MM but the teller talked her into a CD because of the higher interest. She is 78 years old and can't hear nor grasp the concept of investments. I just wished she called me to go with her. Now she cannot touch that money till next June. Who knows if she will be here or may need that money. Can she go back to the bank (I will go with her) and ask that the money be put into a MM. That's what she wanted in the first place. I blame it on the teller.
 


tranquility

Senior Member
Go to the bank and ask. Make sure that, if they agree, you will not be charged interest penalties. If you give them your story, they might agree. If they don't, the amount of litigation and effort you would have to go through would not be finished before next June, making the point moot. Convince or accept. Don't even think about forcing them.
 

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