I have a CD from 1980, bought as a gift bank says prob. cashed but can't find any papers proving it

Question

IT WAS WORTH 350 IN 1980, AND AUTO. REINVESTS EARNED INTEREST.BANK WONT CALL BACK OR RODUCE VERIFICATION WAS CASHED, NOR CAN THEY LOCATE ACCT. NUMBER, BUT I HAVE THE ORIGINAL STATEMENT WHAT DO I DO NOW......IT'S BEEN ALREADY 6 MOS. SINCE FIRST TALKED TO THEM... WAS A GIFT FOR MY HS GRAD IN 80 BY MY GRANDPARENTS WHO WERE LONG TIME CUSTOMERS AT THAT BANK, THAT'S STILL IN BUS'N TODAY

Answer 1

If you don't get satisfaction from the bank teller, speak with their supervisor. If once again you don't get satisfaction, tell them you are writing a letter to the editor of your local newspaper as-well-as the FDIC (federal deposit insurance corporation) and Better Business Bureau. This should get their attention. Good luck.
Also, if they say it has been cashed ask for proof of the date, the original amount of CD, amount earned in interest that was paid out and to whom.
edit-In response to the below listed answer. I know that at both my credit union and banks your CD is automatically rolled into the the same time frame CD when it expires. Meaning, if I had a $5,000 CD at 5% in 1980 that was for 5 years it would automatically renew for another 5 years in 1985 for whatever the current interest rate is. It would again renew in 1990, 1995, 2000, 2005 or until the owner of the social security number on the CD expired. Then the CD would be sent to the estate of the owner.

Answer 2

Certificates of deposits are purchased for a certain period of time during which they will earn interest. Usual terms are 6 mo to 5 years. If your CD was purchased in 1980 and was never cashed it would be considered "unclaimed property" after 7 years and turned over to the state. You may want to check with your state listings.

Answer 3

Banks should be able to verify if it was cashed. If they can't, present it to be cashed and then see what they have to say. Prob cashed doesn't get it. Say it wasn't and demand their proof or their cash. . .If the CD is in your name, don't you remember if you cashed it????Surely your grandparents wouldn't cash one they gave to you. So you say prob not cashed. And then bug the h*ll out of the bank.