I Bonds Mega Thread (I Bond Heads Rejoice!)

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samsoes
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by samsoes »

young danny wrote: Tue May 31, 2022 8:52 pm I dove in and just purchased $10,000. We are holding off to do my wife until 2023 starts when by then she'll have a semester in teaching complete, we'll have agreed what her asset allocation is for her 403B (which we'll max out), figure out other savings buckets and how much we'll (car, vacation, college fund for future kiddos), etc. Hopefully we'll max her out next year.
The interest rate may not be as juicy next year. Take the plunge and max her out this year, before late October. Next year, you'll be able to redeem her holdings if necessary.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by AlwaysLearningMore »

ondarvr wrote: Mon May 30, 2022 7:55 pm Dear TreasuryDirect® Customer:

We recently made a system update to streamline and simplify the account unlock and password reset self-service function.  Please see below for an important message on steps you can now take to attempt to login into your account or reset your password.

The lock has been removed from your TreasuryDirect account. You may now log into your account using your account number and password.  If you don’t remember your password, please select the “Forgot your Password?” link on the log in page and follow the onscreen directions. 

Please be aware, entering an incorrect password or answering a security question incorrectly three times will cause you to be locked out of your TreasuryDirect account again.

If you become locked out of your account again, you will receive a message advising you to contact our office at 844-284-2676 between the hours of 8:00 a.m. and 5:00 p.m. Eastern Time, Monday through Friday. You must call this number and speak to a customer service representative if you receive this message. We cannot assist you by e-mail. Please also be aware that wait times for reaching a customer service representative are substantial at this time.  

Additional information and instructions to avoid future lock outs:

Security Questions: If you have not written down the answers to your security questions, please take the time to do so now.  To view the answers to your security questions, access your account using your account number and password. Once logged in, click the ManageDirect® tab, then under the heading Manage My Account click View/Change my Security Questions. You will be presented with a security question that you must answer correctly, then you can view your Security Questions and Answers. Write down this information and store in a safe place for future reference. Password: If you do not remember your password, during the login process when you reach the Access Your Account>>Password screen, scroll to the bottom and click the link Forgot your Password. Your password reminder will be displayed. If it does not help, click No, then enter your social security number. You will then need to answer your three security questions. If you successfully enter the information requested, you will then be prompted to create a new Password and Password reminder, asked to enter the new Password, then you will be logged into your account.

Thank you for using TreasuryDirect!

Thank you very much for taking the time to post this information. Very informative.
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young danny
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by young danny »

samsoes wrote: Tue May 31, 2022 9:02 pm
young danny wrote: Tue May 31, 2022 8:52 pm I dove in and just purchased $10,000. We are holding off to do my wife until 2023 starts when by then she'll have a semester in teaching complete, we'll have agreed what her asset allocation is for her 403B (which we'll max out), figure out other savings buckets and how much we'll (car, vacation, college fund for future kiddos), etc. Hopefully we'll max her out next year.
The interest rate may not be as juicy next year. Take the plunge and max her out this year, before late October. Next year, you'll be able to redeem her holdings if necessary.
Good point. 10-4.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by samsoes »

young danny wrote: Tue May 31, 2022 9:28 pm
samsoes wrote: Tue May 31, 2022 9:02 pm
young danny wrote: Tue May 31, 2022 8:52 pm I dove in and just purchased $10,000. We are holding off to do my wife until 2023 starts when by then she'll have a semester in teaching complete, we'll have agreed what her asset allocation is for her 403B (which we'll max out), figure out other savings buckets and how much we'll (car, vacation, college fund for future kiddos), etc. Hopefully we'll max her out next year.
The interest rate may not be as juicy next year. Take the plunge and max her out this year, before late October. Next year, you'll be able to redeem her holdings if necessary.
Good point. 10-4.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by tooluser »

Suze Orman recommended buying I-Bonds yesterday as an inflation fighter. Is this a danger sign? :D
https://www.cnbc.com/2022/06/02/suze-or ... time.html

Though she is her usual bombastic self, her reasoning seems to be exactly along the lines of previous posters in this thread, so is probably good.

"The number one investment that every single one of you should have no matter what right now is a series I bond," said Orman...There's no excuse."
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Kevin M »

tooluser wrote: Fri Jun 03, 2022 6:26 pm Suze Orman recommended buying I-Bonds yesterday as an inflation fighter. Is this a danger sign? :D
https://www.cnbc.com/2022/06/02/suze-or ... time.html

Though she is her usual bombastic self, her reasoning seems to be exactly along the lines of previous posters in this thread, so is probably good.

"The number one investment that every single one of you should have no matter what right now is a series I bond," said Orman...There's no excuse."
I think one very good excuse is that you are old and could not possibly deal with Treasury direct, and your heirs might have trouble with it as well. I know we will not be buying any I bonds for my 92-year old mom, although my wife and I have bought $70K between us this year.

Another excuse might be that your taxable space is devoted to equities.

Another excuse is that you refuse to buy at Treasury Direct for a variety of reasons, such as no guarantees if your account is fraudulently compromised. I'm wondering if Mel has bought any I bonds at Treasury Direct this year?

Oh yeah, another excuse is that you don't have any money to invest in taxable accounts.

Kevin
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Mel Lindauer »

Kevin M wrote: Fri Jun 03, 2022 6:32 pm
I'm wondering if Mel has bought any I bonds at Treasury Direct this year?

Kevin
As you may know, I wrote the I Bond Tutorial on Morningstar when they first came out, so I've been a big proponent of I Bonds since the very beginning.

I tried TD when it first became available, but I ended up closing my TD acct. years ago and only deal in paper I Bonds now. Fortunately, I backed up the truck over the years when you could buy $30k in paper I Bonds per person each year (and with a credit card, no less) and got fixed rates of between 3.0% and 3.6%. Many of those babies are currently yielding 13+%.
Best Regards - Mel | | Semper Fi
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Kevin M
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Kevin M »

Mel Lindauer wrote: Fri Jun 03, 2022 6:57 pm
Kevin M wrote: Fri Jun 03, 2022 6:32 pm
I'm wondering if Mel has bought any I bonds at Treasury Direct this year?

Kevin
As you may know, I wrote the I Bond Tutorial on Morningstar when they first came out, so I've been a big proponent of I Bonds since the very beginning.

I tried TD when it first became available, but I ended up closing my TD acct. years ago and only deal in paper I Bonds now.
Right, so you have not bought any of the super-high composite rate I Bonds at TD this year or last. So you would fit into one of my "excuse not to buy" categories.

As you know, the only way to get paper I bonds now is with a tax refund, with a limit of $5K--not very useful.
Mel Lindauer wrote: Fri Jun 03, 2022 6:57 pm Fortunately, I backed up the truck over the years when you could buy $30k in paper I Bonds per person each year (and with a credit card, no less) and got fixed rates of between 3.0% and 3.6%. Many of those babies are currently yielding 13+%.
Unfortunately we cannot invest in the past, so this doesn't do us any good now :oops:

The last time the fixed rate was 3% or more was May 2001, according to this: http://eyebonds.info/ibonds/rates.html. Since those will stop earning interest in May of 2031, in about 9 years you will no longer have these bragging rights. :wink:

Kevin
If I make a calculation error, #Cruncher probably will let me know.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by BrokerageZelda »

Kevin M wrote: Fri Jun 03, 2022 6:32 pm Another excuse is that you refuse to buy at Treasury Direct for a variety of reasons, such as no guarantees if your account is fraudulently compromised.
I hear this from time to time, but I'm not sure what it means in practice.

If someone compromises your TreasuryDirect account, they have no way to get the money out except into a bank account that you already own and have successfully linked, either through initial account opening or through the use of a paper form that requires having your ID checked and signature certified by a financial institution, and also requires your full Social Security Number (which is not viewable from inside TreasuryDirect).

The bonds and their proceeds can't be 'wiped' to destroy them, nor can they be transferred to an unrelated person's TD account or redeemed into an arbitrary third party bank account via ACH or wire.

Even if someone did compromise your identity, your email account, your TD account, and your bank accounts at the same time, your recourse in this case would be through the bank that TD sends the proceeds into first, before your money is spirited away to the criminal underworld.

This is one instance where TD's curiously strict policies make sense, in terms of keeping your money in your hands.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Mel Lindauer »

Kevin M wrote: Fri Jun 03, 2022 8:01 pm
Mel Lindauer wrote: Fri Jun 03, 2022 6:57 pm
Kevin M wrote: Fri Jun 03, 2022 6:32 pm
I'm wondering if Mel has bought any I bonds at Treasury Direct this year?

Kevin
As you may know, I wrote the I Bond Tutorial on Morningstar when they first came out, so I've been a big proponent of I Bonds since the very beginning.

I tried TD when it first became available, but I ended up closing my TD acct. years ago and only deal in paper I Bonds now.
Right, so you have not bought any of the super-high composite rate I Bonds at TD this year or last. So you would fit into one of my "excuse not to buy" categories.

As you know, the only way to get paper I bonds now is with a tax refund, with a limit of $5K--not very useful.
Mel Lindauer wrote: Fri Jun 03, 2022 6:57 pm Fortunately, I backed up the truck over the years when you could buy $30k in paper I Bonds per person each year (and with a credit card, no less) and got fixed rates of between 3.0% and 3.6%. Many of those babies are currently yielding 13+%.
Unfortunately we cannot invest in the past, so this doesn't do us any good now :oops:

The last time the fixed rate was 3% or more was May 2001, according to this: http://eyebonds.info/ibonds/rates.html. Since those will stop earning interest in May of 2031, in about 9 years you will no longer have these bragging rights. :wink:

Kevin
I don't have to buy any new I Bonds to enjoy the current high rates; I'm enjoying them right along with everyone else on the truckload of paper I Bonds I already own. As I said, I'm getting more than 13% on some of my bonds. Just add 3.0, 3.3, 3.4 and 3.6% to today's current rates and you'll get the picture.

I'm hoping to still be around to have to deal with them starting to mature. If not, the bonds' co-owners will be more than happy to deal with the tax issue, given the after-tax windfall they'll enjoy. And there's no TD paperwork or hoops to jump through; as a co-owner, they can simply go to the bank and redeem them.

PS = Thanks for all the valuable contributions you have made, and continue to make, to this forum and its members.
Best Regards - Mel | | Semper Fi
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Markr867 »

So I feel dumb for even posting this because I thought I understood how I-Bonds work, but I'm a bit confused. I bought $5K worth of I-Bonds in March, so the issue date was set as 3/1/22. I thought I would see interest post in June since the 3 month penalty window would be March, April, and May. But June 1 came and went with no interest posted. Why is that?
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by fujiters »

Markr867 wrote: Sat Jun 04, 2022 9:35 am So I feel dumb for even posting this because I thought I understood how I-Bonds work, but I'm a bit confused. I bought $5K worth of I-Bonds in March, so the issue date was set as 3/1/22. I thought I would see interest post in June since the 3 month penalty window would be March, April, and May. But June 1 came and went with no interest posted. Why is that?
June 1 would show accumulated interest through May. You will see interest from June on July 1.
“The purpose of the margin of safety is to render the forecast unnecessary.” -Benjamin Graham
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Markr867 »

fujiters wrote: Sat Jun 04, 2022 9:36 am
Markr867 wrote: Sat Jun 04, 2022 9:35 am So I feel dumb for even posting this because I thought I understood how I-Bonds work, but I'm a bit confused. I bought $5K worth of I-Bonds in March, so the issue date was set as 3/1/22. I thought I would see interest post in June since the 3 month penalty window would be March, April, and May. But June 1 came and went with no interest posted. Why is that?
June 1 would show accumulated interest through May. You will see interest from June on July 1.
I knew I was missing something super obvious. Thank you!
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by tj »

Mel Lindauer wrote: Fri Jun 03, 2022 9:45 pm
Kevin M wrote: Fri Jun 03, 2022 8:01 pm
Mel Lindauer wrote: Fri Jun 03, 2022 6:57 pm
Kevin M wrote: Fri Jun 03, 2022 6:32 pm
I'm wondering if Mel has bought any I bonds at Treasury Direct this year?

Kevin
As you may know, I wrote the I Bond Tutorial on Morningstar when they first came out, so I've been a big proponent of I Bonds since the very beginning.

I tried TD when it first became available, but I ended up closing my TD acct. years ago and only deal in paper I Bonds now.
Right, so you have not bought any of the super-high composite rate I Bonds at TD this year or last. So you would fit into one of my "excuse not to buy" categories.

As you know, the only way to get paper I bonds now is with a tax refund, with a limit of $5K--not very useful.
Mel Lindauer wrote: Fri Jun 03, 2022 6:57 pm Fortunately, I backed up the truck over the years when you could buy $30k in paper I Bonds per person each year (and with a credit card, no less) and got fixed rates of between 3.0% and 3.6%. Many of those babies are currently yielding 13+%.
Unfortunately we cannot invest in the past, so this doesn't do us any good now :oops:

The last time the fixed rate was 3% or more was May 2001, according to this: http://eyebonds.info/ibonds/rates.html. Since those will stop earning interest in May of 2031, in about 9 years you will no longer have these bragging rights. :wink:

Kevin
I don't have to buy any new I Bonds to enjoy the current high rates; I'm enjoying them right along with everyone else on the truckload of paper I Bonds I already own. As I said, I'm getting more than 13% on some of my bonds. Just add 3.0, 3.3, 3.4 and 3.6% to today's current rates and you'll get the picture.

I'm hoping to still be around to have to deal with them starting to mature. If not, the bonds' co-owners will be more than happy to deal with the tax issue, given the after-tax windfall they'll enjoy. And there's no TD paperwork or hoops to jump through; as a co-owner, they can simply go to the bank and redeem them.

PS = Thanks for all the valuable contributions you have made, and continue to make, to this forum and its members.
What is your strategy for storing your abundance of paper bonds? It seems like it might be easy to lose track of them as one ages?
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by HueyLD »

It is not that simple to just go to a bank to redeem savings bonds.

I personally prefer paper ones, but financial institutions in my area have made it difficult to redeem paper savings bonds. They either have a very low redemption limit (such as $1k/day) or not doing redemptions. As a result, I converted paper to TD bonds and it is much easier and flexible to handle purchases and redemptions thru TD.

YMMV.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by BrokerageZelda »

Markr867 wrote: Sat Jun 04, 2022 9:38 am
fujiters wrote: Sat Jun 04, 2022 9:36 am
Markr867 wrote: Sat Jun 04, 2022 9:35 am So I feel dumb for even posting this because I thought I understood how I-Bonds work, but I'm a bit confused. I bought $5K worth of I-Bonds in March, so the issue date was set as 3/1/22. I thought I would see interest post in June since the 3 month penalty window would be March, April, and May. But June 1 came and went with no interest posted. Why is that?
June 1 would show accumulated interest through May. You will see interest from June on July 1.
I knew I was missing something super obvious. Thank you!
One clarification - the excluded interest window is the last three months, not the first three months. You will start seeing interest on July 1st, but that will reflect the interest earned on April 1 (since May 1, June 1, and July 1 interest payments are excluded).
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Mel Lindauer »

HueyLD wrote: Sat Jun 04, 2022 9:52 am It is not that simple to just go to a bank to redeem savings bonds.

I personally prefer paper ones, but financial institutions in my area have made it difficult to redeem paper savings bonds. They either have a very low redemption limit (such as $1k/day) or not doing redemptions. As a result, I converted paper to TD bonds and it is much easier and flexible to handle purchases and redemptions thru TD.

YMMV.
My experience is that if you have an established account with the bank, they will accommodate you. In the past, even banks where you didn't have an account would often cash $1000 per day, but they don't have to do that any longer.
Best Regards - Mel | | Semper Fi
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Mel Lindauer »

tj wrote: Sat Jun 04, 2022 9:42 am
Mel Lindauer wrote: Fri Jun 03, 2022 9:45 pm
Kevin M wrote: Fri Jun 03, 2022 8:01 pm
Mel Lindauer wrote: Fri Jun 03, 2022 6:57 pm
Kevin M wrote: Fri Jun 03, 2022 6:32 pm
I'm wondering if Mel has bought any I bonds at Treasury Direct this year?

Kevin
As you may know, I wrote the I Bond Tutorial on Morningstar when they first came out, so I've been a big proponent of I Bonds since the very beginning.

I tried TD when it first became available, but I ended up closing my TD acct. years ago and only deal in paper I Bonds now.
Right, so you have not bought any of the super-high composite rate I Bonds at TD this year or last. So you would fit into one of my "excuse not to buy" categories.

As you know, the only way to get paper I bonds now is with a tax refund, with a limit of $5K--not very useful.
Mel Lindauer wrote: Fri Jun 03, 2022 6:57 pm Fortunately, I backed up the truck over the years when you could buy $30k in paper I Bonds per person each year (and with a credit card, no less) and got fixed rates of between 3.0% and 3.6%. Many of those babies are currently yielding 13+%.
Unfortunately we cannot invest in the past, so this doesn't do us any good now :oops:

The last time the fixed rate was 3% or more was May 2001, according to this: http://eyebonds.info/ibonds/rates.html. Since those will stop earning interest in May of 2031, in about 9 years you will no longer have these bragging rights. :wink:

Kevin
I don't have to buy any new I Bonds to enjoy the current high rates; I'm enjoying them right along with everyone else on the truckload of paper I Bonds I already own. As I said, I'm getting more than 13% on some of my bonds. Just add 3.0, 3.3, 3.4 and 3.6% to today's current rates and you'll get the picture.

I'm hoping to still be around to have to deal with them starting to mature. If not, the bonds' co-owners will be more than happy to deal with the tax issue, given the after-tax windfall they'll enjoy. And there's no TD paperwork or hoops to jump through; as a co-owner, they can simply go to the bank and redeem them.

PS = Thanks for all the valuable contributions you have made, and continue to make, to this forum and its members.
What is your strategy for storing your abundance of paper bonds? It seems like it might be easy to lose track of them as one ages?
My heirs know all about them and where to find them.
Best Regards - Mel | | Semper Fi
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Kevin M »

BrokerageZelda wrote: Fri Jun 03, 2022 9:06 pm
Kevin M wrote: Fri Jun 03, 2022 6:32 pm Another excuse is that you refuse to buy at Treasury Direct for a variety of reasons, such as no guarantees if your account is fraudulently compromised.
I hear this from time to time, but I'm not sure what it means in practice.

If someone compromises your TreasuryDirect account, they have no way to get the money out except into a bank account that you already own and have successfully linked, either through initial account opening or through the use of a paper form that requires having your ID checked and signature certified by a financial institution, and also requires your full Social Security Number (which is not viewable from inside TreasuryDirect).

The bonds and their proceeds can't be 'wiped' to destroy them, nor can they be transferred to an unrelated person's TD account or redeemed into an arbitrary third party bank account via ACH or wire.

Even if someone did compromise your identity, your email account, your TD account, and your bank accounts at the same time, your recourse in this case would be through the bank that TD sends the proceeds into first, before your money is spirited away to the criminal underworld.

This is one instance where TD's curiously strict policies make sense, in terms of keeping your money in your hands.
All good points. Perhaps Mel can chime in with his concerns, since he is who I was thinking of when I wrote that.

Kevin
If I make a calculation error, #Cruncher probably will let me know.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Mel Lindauer »

Kevin M wrote: Sat Jun 04, 2022 1:22 pm
BrokerageZelda wrote: Fri Jun 03, 2022 9:06 pm
Kevin M wrote: Fri Jun 03, 2022 6:32 pm Another excuse is that you refuse to buy at Treasury Direct for a variety of reasons, such as no guarantees if your account is fraudulently compromised.
I hear this from time to time, but I'm not sure what it means in practice.

If someone compromises your TreasuryDirect account, they have no way to get the money out except into a bank account that you already own and have successfully linked, either through initial account opening or through the use of a paper form that requires having your ID checked and signature certified by a financial institution, and also requires your full Social Security Number (which is not viewable from inside TreasuryDirect).

The bonds and their proceeds can't be 'wiped' to destroy them, nor can they be transferred to an unrelated person's TD account or redeemed into an arbitrary third party bank account via ACH or wire.

Even if someone did compromise your identity, your email account, your TD account, and your bank accounts at the same time, your recourse in this case would be through the bank that TD sends the proceeds into first, before your money is spirited away to the criminal underworld.

This is one instance where TD's curiously strict policies make sense, in terms of keeping your money in your hands.
All good points. Perhaps Mel can chime in with his concerns, since he is who I was thinking of when I wrote that.

Kevin
I took their written policy at face value and warned about it very early on. While they have seemingly put lots of safeguards in place (some users think way too many), we can never anticipate how the really creative bad guys might work around those safeguards.

When they say they'll make you good even if your paper I Bonds are lost, stolen or even FRAUDENTLY REDEEMED, but any theft from your account is on you, that scares me away from TD and makes me very comfortable with my paper I Bonds.

That doesn't mean that others can't feel comfortable with TD. As long as they're an informed consumer, they can make their own choice. I just choose not to take the risk.
Best Regards - Mel | | Semper Fi
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by tooluser »

Mel Lindauer wrote: Sat Jun 04, 2022 5:28 pm
Kevin M wrote: Sat Jun 04, 2022 1:22 pm
BrokerageZelda wrote: Fri Jun 03, 2022 9:06 pm
Kevin M wrote: Fri Jun 03, 2022 6:32 pm Another excuse is that you refuse to buy at Treasury Direct for a variety of reasons, such as no guarantees if your account is fraudulently compromised.
I hear this from time to time, but I'm not sure what it means in practice.

If someone compromises your TreasuryDirect account, they have no way to get the money out except into a bank account that you already own and have successfully linked, either through initial account opening or through the use of a paper form that requires having your ID checked and signature certified by a financial institution, and also requires your full Social Security Number (which is not viewable from inside TreasuryDirect).

The bonds and their proceeds can't be 'wiped' to destroy them, nor can they be transferred to an unrelated person's TD account or redeemed into an arbitrary third party bank account via ACH or wire.

Even if someone did compromise your identity, your email account, your TD account, and your bank accounts at the same time, your recourse in this case would be through the bank that TD sends the proceeds into first, before your money is spirited away to the criminal underworld.

This is one instance where TD's curiously strict policies make sense, in terms of keeping your money in your hands.
All good points. Perhaps Mel can chime in with his concerns, since he is who I was thinking of when I wrote that.

Kevin
I took their written policy at face value and warned about it very early on. While they have seemingly put lots of safeguards in place (some users think way too many), we can never anticipate how the really creative bad guys might work around those safeguards.

When they say they'll make you good even if your paper I Bonds are lost, stolen or even FRAUDENTLY REDEEMED, but any theft from your account is on you, that scares me away from TD and makes me very comfortable with my paper I Bonds.

That doesn't mean that others can't feel comfortable with TD. As long as they're an informed consumer, they can make their own choice. I just choose not to take the risk.
As an example, my paper Series E savings bonds were stolen several years ago in a home burglary. I did indeed eventually get them restored (electronically) by TD.

It took several months and more paperwork than expected, but it did work. I had to speak on the phone twice with the TD person handling the case, each time requiring making an appointment for the phone call later in the week. The TD employee was friendly and competent. I had to have all the paper work signed off by an authorized bank or credit union official (not a Notary Public or a Medallion signature guarantee).

The most obscure part was requiring the Pay On Death (POD) beneficiary to sign similarly witnessed forms that they also were not in possession of the stolen paper bonds. Make sure the POD beneficiary is someone who will go to that trouble for you -- they won't get anything out of it unless you die.
Like good comrades to the utmost of their strength, we shall go on to the end. -- Winston Churchill
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Mel Lindauer
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Mel Lindauer »

tooluser wrote: Sat Jun 04, 2022 10:24 pm
Mel Lindauer wrote: Sat Jun 04, 2022 5:28 pm
Kevin M wrote: Sat Jun 04, 2022 1:22 pm
BrokerageZelda wrote: Fri Jun 03, 2022 9:06 pm
Kevin M wrote: Fri Jun 03, 2022 6:32 pm Another excuse is that you refuse to buy at Treasury Direct for a variety of reasons, such as no guarantees if your account is fraudulently compromised.
I hear this from time to time, but I'm not sure what it means in practice.

If someone compromises your TreasuryDirect account, they have no way to get the money out except into a bank account that you already own and have successfully linked, either through initial account opening or through the use of a paper form that requires having your ID checked and signature certified by a financial institution, and also requires your full Social Security Number (which is not viewable from inside TreasuryDirect).

The bonds and their proceeds can't be 'wiped' to destroy them, nor can they be transferred to an unrelated person's TD account or redeemed into an arbitrary third party bank account via ACH or wire.

Even if someone did compromise your identity, your email account, your TD account, and your bank accounts at the same time, your recourse in this case would be through the bank that TD sends the proceeds into first, before your money is spirited away to the criminal underworld.

This is one instance where TD's curiously strict policies make sense, in terms of keeping your money in your hands.
All good points. Perhaps Mel can chime in with his concerns, since he is who I was thinking of when I wrote that.

Kevin
I took their written policy at face value and warned about it very early on. While they have seemingly put lots of safeguards in place (some users think way too many), we can never anticipate how the really creative bad guys might work around those safeguards.

When they say they'll make you good even if your paper I Bonds are lost, stolen or even FRAUDENTLY REDEEMED, but any theft from your account is on you, that scares me away from TD and makes me very comfortable with my paper I Bonds.

That doesn't mean that others can't feel comfortable with TD. As long as they're an informed consumer, they can make their own choice. I just choose not to take the risk.
As an example, my paper Series E savings bonds were stolen several years ago in a home burglary. I did indeed eventually get them restored (electronically) by TD.

It took several months and more paperwork than expected, but it did work. I had to speak on the phone twice with the TD person handling the case, each time requiring making an appointment for the phone call later in the week. The TD employee was friendly and competent. I had to have all the paper work signed off by an authorized bank or credit union official (not a Notary Public or a Medallion signature guarantee).

The most obscure part was requiring the Pay On Death (POD) beneficiary to sign similarly witnessed forms that they also were not in possession of the stolen paper bonds. Make sure the POD beneficiary is someone who will go to that trouble for you -- they won't get anything out of it unless you die.
Did you have registration name(s), serial numbers and issue dates on the stolen I Bonds? I would imagine that the more information you can provide, the easier things might go.
Best Regards - Mel | | Semper Fi
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by HueyLD »

Mel Lindauer wrote: Sat Jun 04, 2022 12:54 pm
HueyLD wrote: Sat Jun 04, 2022 9:52 am It is not that simple to just go to a bank to redeem savings bonds.

I personally prefer paper ones, but financial institutions in my area have made it difficult to redeem paper savings bonds. They either have a very low redemption limit (such as $1k/day) or not doing redemptions. As a result, I converted paper to TD bonds and it is much easier and flexible to handle purchases and redemptions thru TD.

YMMV.
My experience is that if you have an established account with the bank, they will accommodate you. In the past, even banks where you didn't have an account would often cash $1000 per day, but they don't have to do that any longer.
In my area, my large national bank will not redeem more than $1k/day even for a multi-decade customer like me. For any amount over $1k they require us to deal with their Investment Banking subsidiary, meaning that they would have access to our full financial picture. NO THANKS!!!

Anyway, I am very pleased with the ease of dealing with TD. And I have helped family and friends setting up TD accounts and everyone sailed thru the process without being locked out. My standard advice to all of them is to review every entry THREE TIMES before moving on to the next screen and never use the browser back key. In addition, have another computer/tablet/phone available in case one needs to look up information such as account numbers, passwords, etc.

Again, YMMV.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Mel Lindauer »

HueyLD wrote: Sun Jun 05, 2022 8:08 am
Mel Lindauer wrote: Sat Jun 04, 2022 12:54 pm
HueyLD wrote: Sat Jun 04, 2022 9:52 am It is not that simple to just go to a bank to redeem savings bonds.

I personally prefer paper ones, but financial institutions in my area have made it difficult to redeem paper savings bonds. They either have a very low redemption limit (such as $1k/day) or not doing redemptions. As a result, I converted paper to TD bonds and it is much easier and flexible to handle purchases and redemptions thru TD.

YMMV.
My experience is that if you have an established account with the bank, they will accommodate you. In the past, even banks where you didn't have an account would often cash $1000 per day, but they don't have to do that any longer.
In my area, my large national bank will not redeem more than $1k/day even for a multi-decade customer like me. For any amount over $1k they require us to deal with their Investment Banking subsidiary, meaning that they would have access to our full financial picture. NO THANKS!!!

Anyway, I am very pleased with the ease of dealing with TD. And I have helped family and friends setting up TD accounts and everyone sailed thru the process without being locked out. My standard advice to all of them is to review every entry THREE TIMES before moving on to the next screen and never use the browser back key. In addition, have another computer/tablet/phone available in case one needs to look up information such as account numbers, passwords, etc.

Again, YMMV.
All good info and advice.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Mel Lindauer »

HueyLD wrote: Sun Jun 05, 2022 8:08 am
Mel Lindauer wrote: Sat Jun 04, 2022 12:54 pm
HueyLD wrote: Sat Jun 04, 2022 9:52 am It is not that simple to just go to a bank to redeem savings bonds.

I personally prefer paper ones, but financial institutions in my area have made it difficult to redeem paper savings bonds. They either have a very low redemption limit (such as $1k/day) or not doing redemptions. As a result, I converted paper to TD bonds and it is much easier and flexible to handle purchases and redemptions thru TD.

YMMV.
My experience is that if you have an established account with the bank, they will accommodate you. In the past, even banks where you didn't have an account would often cash $1000 per day, but they don't have to do that any longer.
In my area, my large national bank will not redeem more than $1k/day even for a multi-decade customer like me. For any amount over $1k they require us to deal with their Investment Banking subsidiary, meaning that they would have access to our full financial picture. NO THANKS!!!

Anyway, I am very pleased with the ease of dealing with TD. And I have helped family and friends setting up TD accounts and everyone sailed thru the process without being locked out. My standard advice to all of them is to review every entry THREE TIMES before moving on to the next screen and never use the browser back key. In addition, have another computer/tablet/phone available in case one needs to look up information such as account numbers, passwords, etc.

Again, YMMV.
Several of my long-term banks are continuing to redeem them. However, I'm up for re-election this year and had to open a campaign account at a new bank. While there doing the paperwork for the campaign account, I just randomly asked them if they still redeem Savings Bonds and without hesitation (or conditions), they said "Yes". So you just need to ask around.
Best Regards - Mel | | Semper Fi
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by tooluser »

Mel Lindauer wrote: Sun Jun 05, 2022 12:06 am
tooluser wrote: Sat Jun 04, 2022 10:24 pm
Mel Lindauer wrote: Sat Jun 04, 2022 5:28 pm
Kevin M wrote: Sat Jun 04, 2022 1:22 pm
BrokerageZelda wrote: Fri Jun 03, 2022 9:06 pm
I hear this from time to time, but I'm not sure what it means in practice.

If someone compromises your TreasuryDirect account, they have no way to get the money out except into a bank account that you already own and have successfully linked, either through initial account opening or through the use of a paper form that requires having your ID checked and signature certified by a financial institution, and also requires your full Social Security Number (which is not viewable from inside TreasuryDirect).

The bonds and their proceeds can't be 'wiped' to destroy them, nor can they be transferred to an unrelated person's TD account or redeemed into an arbitrary third party bank account via ACH or wire.

Even if someone did compromise your identity, your email account, your TD account, and your bank accounts at the same time, your recourse in this case would be through the bank that TD sends the proceeds into first, before your money is spirited away to the criminal underworld.

This is one instance where TD's curiously strict policies make sense, in terms of keeping your money in your hands.
All good points. Perhaps Mel can chime in with his concerns, since he is who I was thinking of when I wrote that.

Kevin
I took their written policy at face value and warned about it very early on. While they have seemingly put lots of safeguards in place (some users think way too many), we can never anticipate how the really creative bad guys might work around those safeguards.

When they say they'll make you good even if your paper I Bonds are lost, stolen or even FRAUDENTLY REDEEMED, but any theft from your account is on you, that scares me away from TD and makes me very comfortable with my paper I Bonds.

That doesn't mean that others can't feel comfortable with TD. As long as they're an informed consumer, they can make their own choice. I just choose not to take the risk.
As an example, my paper Series E savings bonds were stolen several years ago in a home burglary. I did indeed eventually get them restored (electronically) by TD.

It took several months and more paperwork than expected, but it did work. I had to speak on the phone twice with the TD person handling the case, each time requiring making an appointment for the phone call later in the week. The TD employee was friendly and competent. I had to have all the paper work signed off by an authorized bank or credit union official (not a Notary Public or a Medallion signature guarantee).

The most obscure part was requiring the Pay On Death (POD) beneficiary to sign similarly witnessed forms that they also were not in possession of the stolen paper bonds. Make sure the POD beneficiary is someone who will go to that trouble for you -- they won't get anything out of it unless you die.
Did you have registration name(s), serial numbers and issue dates on the stolen I Bonds? I would imagine that the more information you can provide, the easier things might go.
Yes. I had been tracking that information for years before the burglary. So I probably did get the easy version...
Like good comrades to the utmost of their strength, we shall go on to the end. -- Winston Churchill
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Mel Lindauer »

tooluser wrote: Sun Jun 05, 2022 9:16 pm
Mel Lindauer wrote: Sun Jun 05, 2022 12:06 am
tooluser wrote: Sat Jun 04, 2022 10:24 pm
Mel Lindauer wrote: Sat Jun 04, 2022 5:28 pm
Kevin M wrote: Sat Jun 04, 2022 1:22 pm
All good points. Perhaps Mel can chime in with his concerns, since he is who I was thinking of when I wrote that.

Kevin
I took their written policy at face value and warned about it very early on. While they have seemingly put lots of safeguards in place (some users think way too many), we can never anticipate how the really creative bad guys might work around those safeguards.

When they say they'll make you good even if your paper I Bonds are lost, stolen or even FRAUDENTLY REDEEMED, but any theft from your account is on you, that scares me away from TD and makes me very comfortable with my paper I Bonds.

That doesn't mean that others can't feel comfortable with TD. As long as they're an informed consumer, they can make their own choice. I just choose not to take the risk.
As an example, my paper Series E savings bonds were stolen several years ago in a home burglary. I did indeed eventually get them restored (electronically) by TD.

It took several months and more paperwork than expected, but it did work. I had to speak on the phone twice with the TD person handling the case, each time requiring making an appointment for the phone call later in the week. The TD employee was friendly and competent. I had to have all the paper work signed off by an authorized bank or credit union official (not a Notary Public or a Medallion signature guarantee).

The most obscure part was requiring the Pay On Death (POD) beneficiary to sign similarly witnessed forms that they also were not in possession of the stolen paper bonds. Make sure the POD beneficiary is someone who will go to that trouble for you -- they won't get anything out of it unless you die.
Did you have registration name(s), serial numbers and issue dates on the stolen I Bonds? I would imagine that the more information you can provide, the easier things might go.
Yes. I had been tracking that information for years before the burglary. So I probably did get the easy version...
Good for you. I have no doubt that information helped in the recovery process.
Best Regards - Mel | | Semper Fi
batangueno
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by batangueno »

I was able to open an account at TreasuryDirect with no problem. But when my brother tried to open an account at TD, for some reason he was required to sign a form in front of a certifying bank official.

When he brought the form to the bank, Wells Fargo, so he could sign in the presence of a bank official, he was told they do not recognize the form from TreasuryDirect.

It is surprising and strange to me that Wells Fargo do not recognize the form from TreasuryDirect. Does anybody have the same issue with Wells Fargo?
If so, how was the work-around done?

Thanks.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by darkhorse346 »

batangueno wrote: Mon Jun 06, 2022 7:55 pm I was able to open an account at TreasuryDirect with no problem. But when my brother tried to open an account at TD, for some reason he was required to sign a form in front of a certifying bank official.

When he brought the form to the bank, Wells Fargo, so he could sign in the presence of a bank official, he was told they do not recognize the form from TreasuryDirect.

It is surprising and strange to me that Wells Fargo do not recognize the form from TreasuryDirect. Does anybody have the same issue with Wells Fargo?
If so, how was the work-around done?

Thanks.
Same experience as you with WF. Frustrating, especially since just a few years ago, they used to provide this service.

Fortunately, we had a small account over at a credit union. They were very helpful and completed the form without any problems. Strangely, I have been wanting to close this account for some time. Now, I'm glad we did not.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by tooluser »

darkhorse346 wrote: Mon Jun 06, 2022 8:24 pm
batangueno wrote: Mon Jun 06, 2022 7:55 pm I was able to open an account at TreasuryDirect with no problem. But when my brother tried to open an account at TD, for some reason he was required to sign a form in front of a certifying bank official.

When he brought the form to the bank, Wells Fargo, so he could sign in the presence of a bank official, he was told they do not recognize the form from TreasuryDirect.

It is surprising and strange to me that Wells Fargo do not recognize the form from TreasuryDirect. Does anybody have the same issue with Wells Fargo?
If so, how was the work-around done?

Thanks.
Same experience as you with WF. Frustrating, especially since just a few years ago, they used to provide this service.

Fortunately, we had a small account over at a credit union. They were very helpful and completed the form without any problems. Strangely, I have been wanting to close this account for some time. Now, I'm glad we did not.
I had the two sets of theft documents signed at my credit union. Very easy and straightforward.
Like good comrades to the utmost of their strength, we shall go on to the end. -- Winston Churchill
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by bogledogle87 »

2022-04 ___ 0.56% ___ 8.26%
2022-05 ___ 1.10% ___ 8.58%
2022-06 ___ 0.45% ___ 8.07%
2022-07 ___ 0.45% ___ 8.03%
2022-08 ___ 0.45% ___ 8.30% ___ I Bond
2022-09 ___ 0.45% ___ 8.49% ___ 7.02%

With the CPI-U coming in at a surprising 1.10% for May, we may be on track for another 7% I Bond rate in October. It would only take an overage of 0.45% per month to get there. Not that I am rooting for this whatsoever, just noting that these lofty I Bond yields might not be as temporary as we thought. :?
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by user9532 »

There are 225 I bonds older than five years – those purchased from Sept 1998 through May 2017. Based on today’s inflation data, out of these 225 I bonds, 128 have a real return as of June 2022 and the remaining 97 are catching up. The I bond you bought in May 2000 has the highest return: 114.46% as of June 22.

If anyone is interested, I have a graph showing the return on all these 225 I bonds at

https://eworkpaper.com

Scroll down and look for the horizontal bar graph.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Nutmeg »

batangueno wrote: Mon Jun 06, 2022 7:55 pm I was able to open an account at TreasuryDirect with no problem. But when my brother tried to open an account at TD, for some reason he was required to sign a form in front of a certifying bank official.

When he brought the form to the bank, Wells Fargo, so he could sign in the presence of a bank official, he was told they do not recognize the form from TreasuryDirect.

It is surprising and strange to me that Wells Fargo do not recognize the form from TreasuryDirect. Does anybody have the same issue with Wells Fargo?
If so, how was the work-around done?

Thanks.
My experience with Wells Fargo is that obtaining bank certifications (and in the past, when they still did them, Medallion Signature Guarantees) is highly dependent on which individual you are asking. My strategy has been to go to a different branch until I found someone who would do it. Once I had to get a signature from a branch in Charlotte, where WF is headquartered, because I couldn’t find someone to do it in my city (not Charlotte). Fortunately, I was going to Charlotte for other reasons.

I don’t know about the TreasuryDirect account-opening form, but on the TreasuryDirect POA form, the certifying bank officer isn’t being asked whether he “recognizes” the form, and the bank is not being asked to do anything with regard to the form other than to certify that the person signing is who he says he is.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by H-Town »

Nutmeg wrote: Fri Jun 10, 2022 3:38 pm
batangueno wrote: Mon Jun 06, 2022 7:55 pm I was able to open an account at TreasuryDirect with no problem. But when my brother tried to open an account at TD, for some reason he was required to sign a form in front of a certifying bank official.

When he brought the form to the bank, Wells Fargo, so he could sign in the presence of a bank official, he was told they do not recognize the form from TreasuryDirect.

It is surprising and strange to me that Wells Fargo do not recognize the form from TreasuryDirect. Does anybody have the same issue with Wells Fargo?
If so, how was the work-around done?

Thanks.
My experience with Wells Fargo is that obtaining bank certifications (and in the past, when they still did them, Medallion Signature Guarantees) is highly dependent on which individual you are asking. My strategy has been to go to a different branch until I found someone who would do it. Once I had to get a signature from a branch in Charlotte, where WF is headquartered, because I couldn’t find someone to do it in my city (not Charlotte). Fortunately, I was going to Charlotte for other reasons.

I don’t know about the TreasuryDirect account-opening form, but on the TreasuryDirect POA form, the certifying bank officer isn’t being asked whether he “recognizes” the form, and the bank is not being asked to do anything with regard to the form other than to certify that the person signing is who he says he is.
Yes, you will have better luck at bigger branch and branch manager. Branch managers should have their medallion signature guarantees stamp.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Nutmeg »

H-Town wrote: Fri Jun 10, 2022 3:44 pm
Nutmeg wrote: Fri Jun 10, 2022 3:38 pm
batangueno wrote: Mon Jun 06, 2022 7:55 pm I was able to open an account at TreasuryDirect with no problem. But when my brother tried to open an account at TD, for some reason he was required to sign a form in front of a certifying bank official.

When he brought the form to the bank, Wells Fargo, so he could sign in the presence of a bank official, he was told they do not recognize the form from TreasuryDirect.

It is surprising and strange to me that Wells Fargo do not recognize the form from TreasuryDirect. Does anybody have the same issue with Wells Fargo?
If so, how was the work-around done?

Thanks.
My experience with Wells Fargo is that obtaining bank certifications (and in the past, when they still did them, Medallion Signature Guarantees) is highly dependent on which individual you are asking. My strategy has been to go to a different branch until I found someone who would do it. Once I had to get a signature from a branch in Charlotte, where WF is headquartered, because I couldn’t find someone to do it in my city (not Charlotte). Fortunately, I was going to Charlotte for other reasons.

I don’t know about the TreasuryDirect account-opening form, but on the TreasuryDirect POA form, the certifying bank officer isn’t being asked whether he “recognizes” the form, and the bank is not being asked to do anything with regard to the form other than to certify that the person signing is who he says he is.
Yes, you will have better luck at bigger branch and branch manager. Branch managers should have their medallion signature guarantees stamp.
Nutmeg
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Nutmeg »

H-Town wrote: Fri Jun 10, 2022 3:44 pm
Nutmeg wrote: Fri Jun 10, 2022 3:38 pm
batangueno wrote: Mon Jun 06, 2022 7:55 pm I was able to open an account at TreasuryDirect with no problem. But when my brother tried to open an account at TD, for some reason he was required to sign a form in front of a certifying bank official.

When he brought the form to the bank, Wells Fargo, so he could sign in the presence of a bank official, he was told they do not recognize the form from TreasuryDirect.

It is surprising and strange to me that Wells Fargo do not recognize the form from TreasuryDirect. Does anybody have the same issue with Wells Fargo?
If so, how was the work-around done?

Thanks.
My experience with Wells Fargo is that obtaining bank certifications (and in the past, when they still did them, Medallion Signature Guarantees) is highly dependent on which individual you are asking. My strategy has been to go to a different branch until I found someone who would do it. Once I had to get a signature from a branch in Charlotte, where WF is headquartered, because I couldn’t find someone to do it in my city (not Charlotte). Fortunately, I was going to Charlotte for other reasons.

I don’t know about the TreasuryDirect account-opening form, but on the TreasuryDirect POA form, the certifying bank officer isn’t being asked whether he “recognizes” the form, and the bank is not being asked to do anything with regard to the form other than to certify that the person signing is who he says he is.
Yes, you will have better luck at bigger branch and branch manager. Branch managers should have their medallion signature guarantees stamp.
Note that the TreasuryDirect POA doesn’t require a MSG but just a bank officer certification. Also, my usually-helpful WF banker double-checked last year and concluded that WF no longer will do MSGs. However, you and I agree on the idea: sometimes one has to try a bigger bank and/or ask for the branch manager.

Interestingly, my two relatives in different states who executed TreasuryDirect POAs had no trouble getting certifications in small banks in small towns … and one bank even provided the MSG even though it is not required. It was good to discover that she could get a MSG there if it is ever needed.
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by LittleMaggieMae »

Markr867 wrote: Sat Jun 04, 2022 9:38 am
fujiters wrote: Sat Jun 04, 2022 9:36 am
Markr867 wrote: Sat Jun 04, 2022 9:35 am So I feel dumb for even posting this because I thought I understood how I-Bonds work, but I'm a bit confused. I bought $5K worth of I-Bonds in March, so the issue date was set as 3/1/22. I thought I would see interest post in June since the 3 month penalty window would be March, April, and May. But June 1 came and went with no interest posted. Why is that?
June 1 would show accumulated interest through May. You will see interest from June on July 1.
I knew I was missing something super obvious. Thank you!
After July 1st - you may need to drill down into your I-bonds to see the interest. The first screen at TD shows the face value of the bonds you own - not the total value (with interest). For example: my EE Bond holding says it's $150.00 - but it's 2 - 29 year old EE bonds with a total value of way more than $150.00 I have to drill down into the EE bond section to see their actual current value. Same goes with I-Bonds. (I just find that I have 29 year old EE bonds amusing... especially since I felt it buying them was putting dent in my "disposable income" back then... that's why I used them as an eample.... :) )
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Mel Lindauer »

LittleMaggieMae wrote: Fri Jun 10, 2022 4:12 pm
Markr867 wrote: Sat Jun 04, 2022 9:38 am
fujiters wrote: Sat Jun 04, 2022 9:36 am
Markr867 wrote: Sat Jun 04, 2022 9:35 am So I feel dumb for even posting this because I thought I understood how I-Bonds work, but I'm a bit confused. I bought $5K worth of I-Bonds in March, so the issue date was set as 3/1/22. I thought I would see interest post in June since the 3 month penalty window would be March, April, and May. But June 1 came and went with no interest posted. Why is that?
June 1 would show accumulated interest through May. You will see interest from June on July 1.
I knew I was missing something super obvious. Thank you!
After July 1st - you may need to drill down into your I-bonds to see the interest. The first screen at TD shows the face value of the bonds you own - not the total value (with interest). For example: my EE Bond holding says it's $150.00 - but it's 2 - 29 year old EE bonds with a total value of way more than $150.00 I have to drill down into the EE bond section to see their actual current value. Same goes with I-Bonds. (I just find that I have 29 year old EE bonds amusing... especially since I felt it buying them was putting dent in my "disposable income" back then... that's why I used them as an eample.... :) )
You can use this link to find your current (and future date) values:

https://treasurydirect.gov/BC/SBCPrice
Best Regards - Mel | | Semper Fi
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by jb3 »

My wife and have gifted each other 10k in ibonds for 2023.

I'm thinking of doing that now for 2024 as well.

If I do, when is the earliest I can cash in the 2023 and 2024 gifts?
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by FoundingFather »

jb3 wrote: Sat Jun 11, 2022 2:50 pm My wife and have gifted each other 10k in ibonds for 2023.

I'm thinking of doing that now for 2024 as well.

If I do, when is the earliest I can cash in the 2023 and 2024 gifts?
I Bonds must be held for 12 months before they can be redeemed. Time spent being held in a gift box counts. Therefore, you can deliver the '2023' I bonds in 2023 and redeem them as early as a year after initial purchase. If you purchase '2024s' I Bonds now, you could deliver them and redeem them right after Jan 1st in 2024.

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Weathering
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Weathering »

Just created a treasury direct account (my 2nd account because it is an entity account for my trust) but I have not received the account number email. It’s been about 25 minutes since the account creation completed on their website.
There is 5% chance I typed my email address incorrectly (transposed two letters).

Anyone else experience a delay like this?
akpk
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by akpk »

Weathering wrote: Sat Jun 11, 2022 7:23 pm Just created a treasury direct account (my 2nd account because it is an entity account for my trust) but I have not received the account number email. It’s been about 25 minutes since the account creation completed on their website.
There is 5% chance I typed my email address incorrectly (transposed two letters).

Anyone else experience a delay like this?
Same here - applied for the individual account but didn't receive any email with account number yet. Did you finally receive any email?
Weathering
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Weathering »

akpk wrote: Sun Jun 12, 2022 7:34 pm
Weathering wrote: Sat Jun 11, 2022 7:23 pm Just created a treasury direct account (my 2nd account because it is an entity account for my trust) but I have not received the account number email. It’s been about 25 minutes since the account creation completed on their website.
There is 5% chance I typed my email address incorrectly (transposed two letters).

Anyone else experience a delay like this?
Same here - applied for the individual account but didn't receive any email with account number yet. Did you finally receive any email?
I have not received the email yet. I’m thinking their system broke over the weekend and it will be fixed Monday or Tuesday when workers are in their offices.
vaylie
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by vaylie »

Possibly stupid question, but when is the best time to buy I-Bonds? This year I bought the max in April when the May interest rates were known, but that's only because I didn't find out about I-Bonds until then. I am now thinking about purchasing more next year (as long as interest rates stay above those of CDs & treasury bills, so anything higher than 3-4%), but I'm not sure when the best time would be. Is it always best to buy right before the interest rate changes? Or, assuming there are favorable interest rates in October, I'm better off collecting interest sooner in January?
calwatch
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by calwatch »

vaylie wrote: Mon Jun 13, 2022 3:27 am Possibly stupid question, but when is the best time to buy I-Bonds? This year I bought the max in April when the May interest rates were known, but that's only because I didn't find out about I-Bonds until then. I am now thinking about purchasing more next year (as long as interest rates stay above those of CDs & treasury bills, so anything higher than 3-4%), but I'm not sure when the best time would be. Is it always best to buy right before the interest rate changes? Or, assuming there are favorable interest rates in October, I'm better off collecting interest sooner in January?
I would probably buy as soon as possible in the year, noting that it is generally best to buy toward the end of the month than the beginning, although if you hold for the 30 year duration it doesn't make much difference. You can always see how inflation goes but the 30 year holder will get 60 distinct interest rate periods regardless of when they buy in the year.
Tom_T
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Tom_T »

vaylie wrote: Mon Jun 13, 2022 3:27 am Possibly stupid question, but when is the best time to buy I-Bonds? This year I bought the max in April when the May interest rates were known, but that's only because I didn't find out about I-Bonds until then. I am now thinking about purchasing more next year (as long as interest rates stay above those of CDs & treasury bills, so anything higher than 3-4%), but I'm not sure when the best time would be. Is it always best to buy right before the interest rate changes? Or, assuming there are favorable interest rates in October, I'm better off collecting interest sooner in January?
You could buy today in the form of gifts to be "delivered" in January. These gifts start earning the current rate right away (well, after three months, anyway.)
tj
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by tj »

Tom_T wrote: Mon Jun 13, 2022 6:05 am
vaylie wrote: Mon Jun 13, 2022 3:27 am Possibly stupid question, but when is the best time to buy I-Bonds? This year I bought the max in April when the May interest rates were known, but that's only because I didn't find out about I-Bonds until then. I am now thinking about purchasing more next year (as long as interest rates stay above those of CDs & treasury bills, so anything higher than 3-4%), but I'm not sure when the best time would be. Is it always best to buy right before the interest rate changes? Or, assuming there are favorable interest rates in October, I'm better off collecting interest sooner in January?
You could buy today in the form of gifts to be "delivered" in January. These gifts start earning the current rate right away (well, after three months, anyway.)
You can't buy a gift for yourself.
Tom_T
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by Tom_T »

tj wrote: Mon Jun 13, 2022 6:09 am
Tom_T wrote: Mon Jun 13, 2022 6:05 am
vaylie wrote: Mon Jun 13, 2022 3:27 am Possibly stupid question, but when is the best time to buy I-Bonds? This year I bought the max in April when the May interest rates were known, but that's only because I didn't find out about I-Bonds until then. I am now thinking about purchasing more next year (as long as interest rates stay above those of CDs & treasury bills, so anything higher than 3-4%), but I'm not sure when the best time would be. Is it always best to buy right before the interest rate changes? Or, assuming there are favorable interest rates in October, I'm better off collecting interest sooner in January?
You could buy today in the form of gifts to be "delivered" in January. These gifts start earning the current rate right away (well, after three months, anyway.)
You can't buy a gift for yourself.
True, I was thinking that the OP might have a spouse or child for the gift.
evelynmanley
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by evelynmanley »

vaylie wrote: Mon Jun 13, 2022 3:27 am Possibly stupid question, but when is the best time to buy I-Bonds? This year I bought the max in April when the May interest rates were known, but that's only because I didn't find out about I-Bonds until then. I am now thinking about purchasing more next year (as long as interest rates stay above those of CDs & treasury bills, so anything higher than 3-4%), but I'm not sure when the best time would be. Is it always best to buy right before the interest rate changes? Or, assuming there are favorable interest rates in October, I'm better off collecting interest sooner in January?
The article below addresses the same question you ask, but for earlier dates this year. But if we extrapolate with today's rates, the advice is to buy now, thereby locking in the 9.62% rate for six months.

I Bonds: A very simple buying guide for 2022
Posted on January 4, 2022 by Tipswatch
https://tipswatch.com/2022/01/04/i-bond ... -for-2022/

<<Yes, I know, a higher fixed rate is always preferable. That’s the first rule of I Bond investing, since the fixed rate stays with that I Bond for the entire 30-year term, while the variable component changes every six months. But in this case, waiting beyond May 1 means missing out on a massively attractive 7.12% annualized rate for six months. That’s $356 interest in six months, equivalent to more than a decade of interest from a fixed rate of 0.2%. And that $356 initial interest will give your investment a nice boost to future returns, because it will grow with future inflation.<<
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AnnetteLouisan
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Re: I Bonds Mega Thread (I Bond Heads Rejoice!)

Post by AnnetteLouisan »

It’s up to over 9 percent currently.
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