CD F.A.Q's

What is a Certificate of Deposit (CD)?
Who is GiftsforBanking.com?
Is GiftsforBanking.com a safe and financially sound organization?
Will my deposits be FDIC Insured?
How is interest calculated?
How do I open an account on GiftsforBanking.com?
How long can I open my GiftsforBanking.com CD for?
How do I get my gift?
Are there any fees or minimums to open my GiftsforBanking.com CD?
Is there a penalty for early withdrawal of my GiftsforBanking.com CD?
Will I be sent a maturity notice for my GiftsforBanking.com CD?
Will I have to pay taxes on my gift?
When will I be able to order my gift?
When can I expect to receive my gift?
Can I return my gift?
Can I substitute the gift bundle or items within it?

Q: What is a Certificate of Deposit (CD)?
A: A certificate of deposit, more commonly known as a CD, is a long-term time deposit that allows you to take advantage of higher interest rates than those offered through a typical savings account.

Q: Who is GiftsforBanking.com?
A: GiftsforBanking.com is a special value added program offered by iGObanking.com.

Q: Is GiftsforBanking a safe and financially sound organization?
A: GiftsforBanking, a value added program, is offered by iGObanking.com the online division of Flushing Bank. Flushing Bank is an FDIC insured institution established in 1929. GiftsforBanking CDs are FDIC insured to the maximum allowable limits.

Q: Will my deposits be FDIC Insured?
A: Yes, CD deposits on GiftsforBanking.com, a value added program offered by iGObanking.com, are FDIC insured up to the maximum allowable limits! For further information on our FDIC insurance, click on http://www.fdic.gov.

Q: How is interest calculated?
A: Interest will be compounded daily and credited to your account monthly.

Q: How do I open an account on GiftsforBanking.com?
A: Click on the GiftsforBanking.com "Open My Account" button and follow the instructions within the six easy steps to complete your online banking application.

Q: How long can I open my GiftsforBanking.com CD for?
A: You can open your GiftsforBanking CD for 2 years, 3 years or 5 years.

Q: How do I get My Gift?
A: After you have opened and funded your account, you will receive an email with a personalized link to this catalog containing all the gifts you are viewing today. You will be requested to choose your gift and fill out the required shipping information. By participating in this program you are consenting to the bank releasing your email address to a third party service provider. CD Reward codes will expire twelve (12) months from the date that the code is first emailed to you.

Q: Are there any fees or minimums to open my GiftsforBanking.com CD?
A: There is minimum balance of $25,000 to open your GiftsforBanking CD and there are no fees.

Q: Is there a penalty for early withdrawal of my GiftsforBanking.com CD?
A: Yes, Early withdrawal penalties may apply. A penalty may be imposed for withdrawals before maturity, including but not limited to the value of the gift chosen, applicable sales tax and shipping fees. In certain circumstances such as the death or incompetence of an owner of this account, the law permits, or in some cases requires, the waiver of the early withdrawal penalty. You will have a grace period of 7 days after maturity in which to close your CD without penalty.

Q: Will I be sent a maturity notice for my GiftsforBanking.com CD?
A: Yes, you will be sent an email notification that your maturity notice is available for viewing in the online services section approximately 30 days prior to maturity date.

Q: Will I have to pay taxes on my gift?
A: Yes, a 1099-INT statement for the value of the gift (including applicable sales tax, shipping and handling costs) will be sent to the account owner on record for the year of gift redemption.

Q: When will I be able to order my gift?
A: Once your iGObanking account has been opened and funded, you will receive an email that will contain a link to the gift catalog that corresponds to your CD deposit. CD Reward codes will expire twelve (12) months from the date that the code is first emailed to you.

Q: When can I expect to receive my gift?
A: You will receive a confirmation email once your order has been placed that will indicate the approximate shipping time frame.

Q: Can I return my gift?
A: Yes. Items eligible for return must be new, unused, and contain all original product packaging and accessories. Some items are subject to special return policies. For more information concerning special return policies, please review the item description.
Exceptions: Apple items may be returned if unopened. The following items are not eligible for return:

  • TVs larger than 27 inches
  • Canoes and Kayaks
  • Treadmills and Elliptical Exercise Equipment
  • Pool Table
  • Spas

Q: Can I substitute the gift bundle or items within it?
A: No, you cannot substitute the gift bundle or items within it.

 
Any Questions?

If you have any questions, click here or call an Internet Specialist during business hours:

Monday to Sunday (7:00 a.m. to 11:00 p.m. ET) at 1-888-432-5890