Bank CD question

[Jackofalltrades]

I know next to nothing about CD's and my in-laws found one from SouthTrust Bank the other day they completely forgot about for just over 5k. SouthTrust was bought out by Wachovia which is now Wells Fargo.

It was purchased in June of 94 with a 30 month maturity term. Is this something that an still be redeemed?

Thanks for any info, your help is appreciated.

[Jackofalltrades]

*crickets

[pstall]

it may be rolling over ever so many months BUT, since the mat date has past, should be able to redeem without penalty.

 

just don't put it back into a cd ok? no %.

 

 

put it in a money market acct until you figure out what you want/need to do.

[Jackofalltrades]

Oh I'm sure they'll cash it and blow it on completely useless crap like they usually do.

[pstall]

they might want to sock some away for taxes. and back taxes for the last 19 years that might have gone unreported.

 

it won't be earth shattering but that's a lot of years to over look. fyi

[Jackofalltrades]

Ok, thanks for the info.