POD bank account-will bank let keeping the account and retitling to Beneficiary?

[ExGingi]

An issue that sometimes comes up with POD on bank accounts is that the original account has better terms than currently available.

Does anyone have DP of banks processing the POD as a change of ownership keeping the original account, as opposed to closing it and paying out the funds?

I was told today at a TD Bank Branch that they wouldn't do it, but I wouldn't take their word for it. It could be that the people in the branch simply don't know.

Seems like PNC and SunTrust allow it (at least for CDs back to 2011, that doesn't necessarily mean it would be allowed today).

[aygart]

An issue that sometimes comes up with POD on bank accounts is that the original account has better terms than currently available.

Does anyone have DP of banks processing the POD as a change of ownership keeping the original account, as opposed to closing it and paying out the funds?

I was told today at a TD Bank Branch that they wouldn't do it, but I wouldn't take their word for it. It could be that the people in the branch simply don't know.

Seems like PNC and SunTrust allow it (at least for CDs back to 2011, that doesn't necessarily mean it would be allowed today).

I had some experiences with every bank on 13th Avenue and these types of accounts. Every single one closed the old account and opened a new one or issued a check. I did not try to specifically keep the old account type.

[ExGingi]

I had some experiences with every bank on 13th Avenue and these types of accounts. Every single one closed the old account and opened a new one or issued a check. I did not try to specifically keep the old account type.

TBH, at this point I'm not sure if it's really worth the effort in order to get the benefit of free cashier's checks and discounted safe deposit box at TD with a $250 minimum balance. Might have been worth keeping if I had changed myself from POA/POD to co-owner at an earlier stage. And since there's no Social Security death record, it might be simpler to just withdraw the balance and let the bank shut it down.

[ExGingi]

How apropos, just one day after inquiring about POD on DDF I get the following fax to my eFax number (though they didn't get my name right, so I'm not sure if it's worth anything. Should I go through a legal name change for this?).