Q: I saw in The Post the list of FDIC-insured CDs and their rates. I called one of them but the line was not in service, and another number was answered by someone who didn’t seem to know what was going on. How would I know if it’s a legitimate business?— Monica O’Brien Wolfe, Lakewood
A: The Denver Post each Sunday publishes a list of the top rates on certificates of deposit along with telephone numbers for each institution.
The list is compiled and provided to The Post by BankRateMonitor , a highly respected compiler of information on what banks are charging.
BankRate monitors about 4,800 financial institutions in all 50 states and provides the rates not just for the CDs you were looking at but the rates banks offer on mortgages, credit cards, auto loans, money market accounts, even ATM fees.
Folks at Florida-based BankRate say they get their information directly from the various institutions, all of them registered and regulated companies, so the likelihood of a fly-by- night outfit making the list is pretty slim.
Nevertheless, mistakes can happen and, as was your case, questions can arise when service seems sketchy. You did well not to provide any of your personal information to someone over the telephone, especially when you were uneasy with the exchange.
However, you may contact BankRate at 561-630-1207 with any concerns or corrections to published contact information and, more important, to double-check whether an institution is, in fact, legitimate.
David Migoya wants to get the answers to your consumer questions. E-mail consumertips @denverpost.com or write to Consumer Shopping Bag, The Denver Post, 101 W. Colfax Ave., Suite 600, Denver, CO, 80202.
