Has anyone had difficulty withdrawing their funds from Indymac ?

This is no joke, I have been trying to get to my money via their Transfer Money/Move Money feature for 11 days.

11 days.

My access to the Move Money account has been blocked since I attempted a transfer of funds out of the account into one of my linked external accounts.

Every day they have a new excuse, but no resolution.

Today I am trying to get through, and the calls keep dropping.

Something very strange is going on over there, and I do not think it is disconnected from yesterday's announcement on the company's financial outlook and planned staff reductions.

Conspiracy theory!

But you can't really attribute bankruptcy with layoffs, keep calling them, its probably just technical difficulties.

Why bother using Indymac transfer money feature? Slow and crappy limits. I opened the First rate MM with check writing to avoid that hassle. Had one of my CDs mature Monday, Decide to renew since rates are good but to stay fully insured I had them transfer the interest made to my MM. Then simply went to my local bank and wrote out a check from my Indymac account to get the money. No delays and will make overlapping interest

Do you have an update?

lovely said:


He also extended my 6 months CD to 209 days with the same rate. So, if you locked in your CD at higher rate, you can extend it for another 29 days, assuming it is not mature yet.
Thanks for that info, I have another CD maturing tomorrow (Sat) that is 5.75%. Now debating if I should extend it to the 29 days or renew at the 5.25%. All depends on where I think rate will be in a month and my feeling best they will have will be under 5%.

oh man... same problem!!

its so hard to take my money out... they say they mailed out on jan22, still not got it....

they are 'helpfully' suggesting that i do a stoppayment...and they will lock the funds for 90 more days!!

well the 29 day extension thing is not in the terms and conditions - why I am not surprised. mine matures today (23rd) and I was almost foolish enough to transfer it into my first rate account until I read the fine print about the time money can transfer without penalty - the day AFTER the maturity day.

Grace Period:
There is a seven-day grace period, which begins the
day following the maturity date, when funds can be
transferred to another account or withdrawn.

Also their terms say :

Renewals:
Your Indymac Bank Certificates of Deposit will
automatically renew for the same term and at
the current available interest rate in effect on the
account’s maturity date. Interest rates are set at
our discretion and subject to market conditions,
your account balance, and term.

Well this was a 4mo CD internet special ..at 5.65% - the current 4 mo CD special is 4.45% - but guess what the rate is on the renewal?
2.9% - and this is showing as of today (23rd), so most folks would have a knee jerk reaction of pulling the money out on the 23rd - costing 1 month of interest ....

Does anyone know how the "new money requirement" is met? It is not in their terms and conditions....

I am having problems moving my money internally between my indymac CD which matured yesterday 3/28 and my indymac E-money market. The first time I got error # 7037-41937 and the second time I got error # 7037-41940. The message is the same

Online Banking was unable to complete your last transaction. If you have questions, please contact your financial institution's customer service for assistance.

The system was unable to confirm that your last transfer was successful. Please verify your account history or pending transactions to determine if the transfer was completed successfully. If the transfer does not appear in your account transfer or pending transactions, please contact your financial institution's customer service for assistance.

anybody else getting this?

doglar said:I am having problems moving my money internally between my indymac CD which matured yesterday 3/28 and my indymac E-money market. The first time I got error # 7037-41937 and the second time I got error # 7037-41940. The message is the same

Online Banking was unable to complete your last transaction. If you have questions, please contact your financial institution's customer service for assistance.

The system was unable to confirm that your last transfer was successful. Please verify your account history or pending transactions to determine if the transfer was completed successfully. If the transfer does not appear in your account transfer or pending transactions, please contact your financial institution's customer service for assistance.

anybody else getting this?
I don't think you can make the internal transfer because CD accounts are non-transaction accounts.

I'm not following either, I had two CD matures in January. Called on the day of maturity and renewed for 4 month term at 5.25%. To stay insured I had them transfer all the interest to my first Rate account and then just deposited a check from it into at my local bank the same day. No problems at all.