[quote=”[email protected]“]I have an IRA Certificate of Deposit that just matured at DIME Savings Bank in Brooklyn, NY. I have been trying to get that financial institution to transfer the IRA CD proceeds to Navy Federal Credit Union. I completed an IRA transfer request form provided by Navy Federal Credit Union and sent it to Navy FCU for that credit union to sign their willingness to accept the transfer and then to mail it to Dime Savings Bank. I am now encountering a delay because DIME says that the form they received from Navy FCU is a copy of the one I sent to Navy FCU and does not have my original signature. They are insisting that Navy FCU send them a transfer request that has my original signature on it.

Is this common practice? Did Navy FCU make a mistake by not sending the form with my original signature? Or, is DIME just needlessly delaying transferring my funds?

Thanks.

Gary_C[/quote]
Smaller financial institutions usually do not use the automated transfer process, which means requiring hard copy paperwork (instead of electronic requests). Many require original paperwork/original signatures. The transfer form (or accompanying instructions) usually disclose these requirements

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