Which person on the account must approve a CD withdrawal?

Which person on the account must approve a CD withdrawal?

• A. The officer on the account
• B. The Branch Manager
• C. The Teller
• D. The Customer

Answer: (A)

When a CD withdrawal is requested, the bank requires explicit authorization from the person who has signing authority on the account. That role is the officer on the account. This designation ensures the request is legitimate and compliant with policy, since CDs are time deposits with restricted access until maturity or with approved early-withdrawal terms. The teller handles routine processing, but they don’t provide the final approval. A branch manager would only be involved in exceptional cases or overrides, not routine CD withdrawals. So, the approval must come from the officer on the account because that person is empowered to authorize disbursements from the account.

When a CD withdrawal is requested, the bank requires explicit authorization from the person who has signing authority on the account. That role is the officer on the account. This designation ensures the request is legitimate and compliant with policy, since CDs are time deposits with restricted access until maturity or with approved early-withdrawal terms. The teller handles routine processing, but they don’t provide the final approval. A branch manager would only be involved in exceptional cases or overrides, not routine CD withdrawals. So, the approval must come from the officer on the account because that person is empowered to authorize disbursements from the account.