We are in the process of opening another bank, in another state. We are going to take Certificate of Deposits from a branch of a bank that we currently have that is located closest to the state line and transfer them into the new branch that is part of the new bank. We are all under the same holding company.

Question being: Is there any notification requirements to the customer of the certificate to inform them of the transfer of the certificate from one bank to the other? We will honor the customer's processing at either bank for these specific certificates and will complete the process through internal transfers.

All other proper notifications have been sent to customers concerning either required and/or prudent notifications between the banks that are consolidating at the same time.

thanks as usual.

Requests and opinions are mine not my employer