JEP CD expiring

I have a JEP CD which expires on May 23. I know if I don’t want it renewed, I have to notify them like 5 days before the expiration. But do I need to let them know between May 18th to May 23rd or it has to be before May 18th? How do I notify them? Do I need to show up in person or I can send them an email? I am in the States right now.

I have emailed 2 JEP English speaking representatives. None of them replied. I guess when I told them I may not want to renew my CD, there is a ‘conflict of interest’ to provide me this information. So much about that friendly service I got when I opened the CD, haha.

If someone has this information and would like to share, I would really appreciate.

Shawn Hua

City: Cuenca

5802 views

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Oti

Renewal is automatic unless you choose to stop it. It can be done from the US but it's a process. Choose someone in Ecuador that you trust. Please let it be a friend and not someone that you have to pay or it might not go well for you. Go... Renewal is automatic unless you choose to stop it. It can be done from the US but it's a process. Choose someone in Ecuador that you trust. Please let it be a friend and not someone that you have to pay or it might not go well for you. Go to the nearest Ecuadorian Consulate in the US and draw up a power of attorney giving your friend authority to stop renewal. You will then need to send your friend here in Ecuador the power of attorney via DHL or other reliable courier service. Once your friend has the power of attorney then they would need to go in and have it registered. This may take one or two trips depending on what documents the person behind the counter requests. I did this for a friend recently and they asked me for a copy of my passport and cedula. They also asked for my social security number, my friend's social security number and copies of her cedula and passport as well. In addition they asked me to supply a "planilla" from the utilities or water which showed my address even though my name was not on it. After the power of attorney is registered your friend will need to come back to execute what is written in the power of attorney. If it's just to stop renewal,then the money will go into your JEP savings account and stay there until you come back to Ecuador and decide what you want to do with it. If you want the money sent to the US make sure the power of attorney explicitly gives your friend authority to send the money to a US bank account as well. Be sure your friend begins the process a couple weeks in advance since they have to approve and then register the power of attorney which is a separate process from executing its contents. Also, make sure the friend asks for specific cut off dates. They do not supply this information readily because as you mentioned it is in their best interest to keep your money for a bit longer. I used the JEP on Ordonez Lasso and although I speak Spanish there is a female English speaking agent there that sits in an office of to the corner. If you would like more specific guidance please feel free to email me. blessedjacru@gmail.com Read more 0 0

Necesitomascafe

A member of JEP's english-speaking financial executive team has already answered the question...see below... as well as provided his personal contact info. (Javicho Carrión). 0 0

Juan

Be aware that if your CD renews automatically, you will likely receive a LOWER RATE because rates have changed. You read that correctly: JEP will renew you at a LOWER RATE without your permission if you simply do nothing. I can't imagine how this is legal, but that's how it... Read more 0 0

Ibokay

You<b><u> must</u></b> renew in person OR have a legally designated Power of Attorney renew it for you in your absence. 0 0

Juan

This is incorrect. Renewal will be automatic. You must appear in person to STOP the renewal. 0 0

Pk Connor

Hi Shawn. I use JEP and have done very well with them in my bad spanish. As with most things in EC it's way easier if you fit into the system. The CD system is that if you want to renew, do nothing. it will renew automatically. If you want... Read more 0 0

Juan Lara

How about Connor, Juan Lara from COOPERCO Credit Union greets you, in our institution we handle policy renewal and cancellation issues more easily, we have other more favorable policies for our investment partners and good interest rates, if you want to know more of us, just write me juan.lara@cooperco.fin.ec 0 0

Javicho Carrión

Hello, this is Javier From Jep. I can help you and all the persons who wants a personalized service at Jep. Actually, you need to be in person and bring just your Cédula or Passport (CD certificate not necessary). Needs to be 5 to 10 days before the expiration date,... Read more 0 0

Cabinet-guy

JEP should send apologies to (former) clients that they have pushed out of their care, for some of the incredibly incompetent and offensive staff they hired, after Giovanna left. Language barriers aside, the late-arrivals of staff, and incorrectly filled-out forms are an embarrassment to any banking institution! 0 0

Giovanna Rivera

Hi everyone! Giovanna Rivera here So sorry to hear about all that issues. I am currently working for COOPERATIVA CREA Goverment Insurance, all electronic, great service and more You won't be disappointed! If you like to have some more information please feel free to contact me: privera@crea.fin.ec / Whatsapp 0984244668 0 0

Anna Levi

My JEP CD recently expired & I went with COOPERCO(Juan Lara). If you can do it in person, it is better. Be sure to go to JEP 5 days before it expires & then the day it actually expires! 0 0

Cabinet-guy

"...you can check-out anytime, but you can *never* leave...". Not to solicit gossip, but if you can tell us whether any of the reps mentioned by Pixelvt, were helpful, you'll help guide future decisions 0 0

Markshlitz

Good luck, took over 3 months to get my money from them. They "always" had a new rule I didn't follow and it surprisingly added 30 days. 0 0

Juan Lara

Hello, Juan Lara from COOPERCO Credit Union greets you, in our institution we handle policy renewal and cancellation issues more easily, we have other more favorable policies for our investment partners and good interest rates, if you want to know more of us, just write me juan.lara@cooperco.fin.ec 0 0

Jane Brinton

Contact Maite at GringoVisas,com. She can handle the closing of the CD and transfer to your bank or wherever you wish through a POA. She has done this many times for people who are out of the country. maiteduran2@gmail.com 0 0

Just go into a JEP branch and do it in person. Bring your CD certificate and cedula or passport. 0 0

Disqus_a50qdcu3rs

Bring originals of cedula or Passport 0 0

Pixelvt

JEP investments In order to improve the service for our expat members and customers at Cooperativa JEP, we have created an English-speaking financial executives team. The team is formed by: – Yadira Marroquin 096 791 0987 email: mmarroquin@jep.coop – Javier Carrión 096 903 1569 email: fcarrion@jep.coop – Juan Quintuña 096... Read more 0 0

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