random thoughts – Day 2,170 (Tuesday) – breaking up is hard

Today I hit the road to visit the bank with the IRA CD in need of a visit and paperwork. The highway was delightfully clear of snow and light on traffic. The Fitchburg roads were about what I expected. The potholes were plentiful but the snow clearing was adequate on the major streets.

Welcome!

Near the bank, blue and red emergency vehicle lights were flashing like it was the Independence Day parade. A police car blocked the plaza entrance nearest the bank. An ambulance and a fire truck were parked nearby. Two cars sat facing each other in the entrance with another police cruiser behind them. A cluster of people talked with police officers. I drove to another entrance and was able to access the bank, but I might have been better off to take the scene on arrival as a sign to keep driving.

The transaction took a long time to process because it was an IRA CD and not just a regular savings CD. It was the banker’s first IRA distribution. A manual was consulted for the many forms to be filled out, printed, and signed. It was my first ever IRA distribution. I wasn’t prepared for the question about having taxes withheld from the transaction and after a nano second of thought, opted to have a random percentage withheld for federal taxes thinking to reduce taxes owed with the 2026 filing.

Calculations were made. Papers were signed. A check was printed for the account balance, less the amount of the federal taxes. The banker never asked how I wanted the funds. I had assumed it would just be put into my checking account at the same institution. A bank check was printed along with a copy of all my paperwork.

During my time in the bank, a flatbed had arrived and left. The ambulance, firetruck, police cars, and personal vehicles were gone. Something that sounded like a grandfather clock chimed on two occasions.

I drove to the credit union where I have opened accounts as part of my breakup with the old bank and deposited the check from the CD. The finance portion of the day took so long that I cancelled the food shopping part of the day, got some gas, and headed home.

At home, I went online to the oil company website to pay for the oil delivered late last week. My account showed no record of a delivery and no amount showing as due. I called the office and got a recording to leave a message for a callback. I’ll try again on Wednesday.

A couple hours later, a call came from the bank. The back office had found an issue with the CD transaction. Apparently, if federal taxes are withheld from an IRA distribution, Massachusetts state tax must also be withheld. The system did not provide an alert, and nothing prevented the transaction from processing, which seems like a flaw, but what do I know.

To correct the issue, the back office reversed the CD closing transaction and issued a stop payment order on the check I had been given. Yes, the check I had just deposited into my account at the other institution. (I’m pretty sure they are called financial institutions because after dealing with one in any capacity as employee or customer, you are pretty much ready for a nice long, medicated vacation in an institution. Or maybe that’s just me.)

The banker suggested I call the credit union to ask for my deposit to be reversed to avoid me being assessed a fee when the check is rejected in the system due to the stop payment. The back office at the credit union coordinated with the branch, reversed my deposit, and suggested I come in to pick up the original check, which might be fine if not for the half-hour ride to get there. And now I can look forward to doing the whole CD closure all over again. Had it just been deposited into my checking account at the bank, it would have been a breeze to unwind. This is what I get for trying to break up with a bank and move on. It is feeling like a bad boyfriend scenario all over again.

In considering all the screwy screw-ups of the past week, I checked to see if we are in Mercury retrograde because it sure feels like we are. During Mercury retrograde, miscommunications, delays, travel issues, and technical glitches are common. Based on the glitches in the past week (misinformation, absence of communication, plaza access issue, bank account headache, oil company account mystery), I don’t even want to speculate what could go wrong during the actual retrograde period which begins February 26 and ends March 20. Yay. Can’t wait. Should be fun.