Why did my CD value drop in Scottrade account? help?

Question

I purchased a certificate of deposit through scottrade. (CD) the amount was for $30,000. Just a regular old fashioned CD, not on margin either. The CD pays 3.05% in one lump sum at the end of 3 months. My balance showed $30,000 for three days after the purchase. Today I log in and it shows the value of the CD at $29,953. A $47.50 loss???????? How can this happen? There is no indication of where the $47.50 went in my account history. Is this the fee from scottrade or an error? Anyone know?

Answer 1

a common thing on these accounts!!!!! becouse its not managed!!!! had the same problem I got a note right now paying 10% .....

Answer 2

Gee. Does Scott Trade charge a fee for CD's?

I'd call and complain.

1-800-619-SAVE (7283)

http://www.scottrade.com/contact_brokera...

Answer 3

Scottrade did not charge you anything.  The 3 months for the CD does not begin on the date you enter your order.  It begins on the date shown on the offering page.  That is the date it will actually be purchased from the bank.  What they did was adjust the displayed value to reflect a current value that will be equivalent to a $30,000.00 value on the listed issue date.  

I know it is confusing.  But you won't loose anything.   When it comes due, you will receive $30,000 plus the 3.05% interest.