Digital banking

cross river digital banking provides individuals with high yield certificates of deposit (cds) for individuals, and digital banking /#business banking for our business customers high yield cds frequently asked questions high yield cd support email crcdsupport\@crossriver com phone (855) 619 1550 hours monday–thursday 9 am–6 pm et, friday 9 am–3 pm et access & account management how do i log in to my high yield cd account? visit the online banking portal and log in with your credentials i forgot my password how can i reset it? go to this reset password page to begin the reset process you can also reset at any time from the main login page click forgot your password? how do i access my account? log in to the the app at any time to manage your cd can i manage my cd account from my mobile device? yes download the cross river mobile banking app from apple app store (ios) google play store (android) how do i update my personal information (address, email, phone)? contact customer service for assistance can i link an external bank account? yes in the app, navigate to the pay and transfer page and click manage external accounts follow the prompts to link an account using plaid opening & funding a cd what do i need to open a cd? you must be a legal us resident be at least 18 years old have a social security number have a government issued id what’s the minimum deposit to open a cd? $500 how do i fund my cd after opening? to fund a high yield cd , log in to the banking portal, go to manage external accounts , link an account using plaid, then fund your cd via the pay and transfer section can i fund my cd with multiple transfers? no you must fund your cd with a single transfer how long do i have to fund my cd after opening it? you have 7 business days to complete your funding does funding my cd incur additional fees? no, funding your cd does not incur additional fees cd rates & terms what cd terms do you offer? visit crossriver com for the most up to date information on available cd terms and rates is the interest rate fixed for the entire term? yes the interest rate is fixed for the duration of your cd how often is interest compounded and credited? interest accrues daily and posts to your account monthly can i get a higher rate if i deposit more? no we don’t currently offer tiered interest rates on retail cds are your rates guaranteed once i apply? rates are locked once the account is opened and funded early withdrawals & penalties can i withdraw money from my cd before maturity? yes, but a penalty will apply please call customer service to request an early withdrawal what is the early withdrawal penalty? 12 month cd 180 days’ worth of interest 18 month cd 180 days’ worth of interest how is the penalty calculated? the penalty is calculated as a set number of days’ worth of simple interest and is deducted from your withdrawal amount can i make a partial withdrawal? no early withdrawals must be for the full cd balance how do i request an early withdrawal? call customer service, who will help you withdraw your funds early from your full cd balance maturity, rollovers & grace periods what happens when my cd matures? we’ll notify you in advance if no action is taken during the grace period, your cd will automatically renew will my cd automatically renew? yes, unless you choose to withdraw the funds during the grace period after maturity what is the grace period after maturity? the grace period is a short window (7 business days) after maturity when you can withdraw or modify your cd before it automatically renews can i change my term or amount during the grace period? no we recommend opening a new cd if you'd like a different term or deposit amount how do i close my cd at maturity? withdraw the full balance during the grace period using the online portal we’ll remind you by email as this date approaches how do i transfer the matured balance to another account? use the transfer function in the online banking portal statements, tax & documentation will i receive monthly or quarterly statements? statements are available monthly through the portal you’ll be notified via email that your statement is ready how do i access my tax documents (1099 int)? tax documents will be available by the end of january at that time, you’ll receive your 1099 tax form when will i receive my 1099 int form? you’ll receive it during the regular tax reporting period, typically by the end of january is interest earned on my cd taxable? yes interest earned is subject to federal income tax can i get a summary of my cd account history? yes your full account history is available through the online portal security & insurance is my cd fdic insured? yes deposits are fdic insured up to $250,000 per depositor how do i report suspicious activity? call our customer service line immediately general questions what is a certificate of deposit (cd)? a cd is a type of savings product where you agree to keep your money deposited for a fixed term in exchange for a fixed interest rate early withdrawals may result in penalties why should i choose a cd over a savings account? cds typically offer higher interest rates than traditional savings accounts can i open multiple cds? yes there’s no limit to the number of cds you can open can i open a cd for a minor or in a trust? not at this time who can i contact for support? email crcdsupport\@crossriver com phone (855) 619 1550 hours monday–thursday 9 am–6 pm et, friday 9 am–3 pm et business banking cross river digital banking provides businesses with the convenience and flexibility to apply for and manage their bank accounts entirely online our digital platform provides a seamless and efficient banking experience, empowering them to take control of their finances anytime, anywhere log in send ach or wire create payment template 24/7 internal settlement transfer funds business manage recipients high yield commercial savings reports