Oy vey...how does one buy a gift savings bond these days?

vedahanks

I swear I only did this a year ago and I can't figure it out. I signed up online for TreasuryDirect but it seems all so complicated!!

Do I have to go in person to the bank?

oct11bride03

I panicked when someone posted about issues they had buying a bond at a bank, but we needed to buy one for a baptism a few weeks ago, went to the bank, same as always, and had no issues. No need to sign up online or anything. It was the exact same procedure it had always been.

AmyRob04

You can still buy them from the bank, they just discontinued the sale of one kind they used to offer. I forget what the deal was, I'd never bought one before and when I went to buy one in August I was told that they were discontinuing one, maybe the Series E, and you could only buy the other.

laurenpetro

at the bank.

vedahanks

Can you still use your own social security number?

AmyRob04

vedahanks:

Can you still use your own social security number?

I used my own in late August. I cannot imagine that they'd make you get the SS number of the person you're buying for. I'd never give out my kid's SS unless I had to, like for school.

Leeba25

laurenpetro:

at the bank.

Hhmm. I bought a few at christmas, and the woman at the bank told me that you wouldn't be able to buy them at banks (any banks, according to her), after 12/31/11. At that point, it needed to be done online.

oct11bride03

Leeba25:

laurenpetro:

at the bank.

Hhmm. I bought a few at christmas, and the woman at the bank told me that you wouldn't be able to buy them at banks (any banks, according to her), after 12/31/11. At that point, it needed to be done online.

I wonder if some banks are choosing not to sell them anymore. I actually called our bank to ask because of the post on here about it and they didn't say anything about not being able to buy them there in the future.

Leeba25

http://www.treasurydirect.gov/indiv/research/indepth/ebonds/res_e_bonds_eebuy.htm

From that site:

As of January 1, 2012, paper savings bonds are no longer sold at financial institutions.  This action supports Treasury?s goal to increase the number of electronic transactions with citizens and businesses. See the press release.

 

 

vedahanks

Leeba25:

http://www.treasurydirect.gov/indiv/research/indepth/ebonds/res_e_bonds_eebuy.htm

From that site:

As of January 1, 2012, paper savings bonds are no longer sold at financial institutions.  This action supports Treasury?s goal to increase the number of electronic transactions with citizens and businesses. See the press release.

 

 

That's what's so annoying...it seems that in order for someone to receive the gift bond, they too have to have a TreasuryDirect account.

Leeba25

oct11bride03:

I wonder if some banks are choosing not to sell them anymore. I actually called our bank to ask because of the post on here about it and they didn't say anything about not being able to buy them there in the future.

Was that this year? If so, let me know, beause I buy them as gifts sometimes, and doing it online seems like a PITA, when you're buying for someone else.

Or, I suppose I'll just start giving cash and hope that the parents choose to put it into a 529. Lol

oct11bride03

Leeba25:

oct11bride03:

I wonder if some banks are choosing not to sell them anymore. I actually called our bank to ask because of the post on here about it and they didn't say anything about not being able to buy them there in the future.

Was that this year? If so, let me know, beause I buy them as gifts sometimes, and doing it online seems like a PITA, when you're buying for someone else.

Or, I suppose I'll just start giving cash and hope that the parents choose to put it into a 529. Lol

Huh. I guess it wasn't this year, now that I think about it. 

I think this move has effectively killed the notion of buying savings bonds as gifts. I don't have a Treasury Direct account and I will absolutely NOT be giving out Katie's SS# to family and friends.

What the hell were they thinking? 

debfife

oct11bride03:

I will absolutely NOT be giving out Katie's SS# to family and friends.

 

SS number is no longer required to purchase savings bonds

oct11bride03

debfife:

oct11bride03:

I will absolutely NOT be giving out Katie's SS# to family and friends.

 

SS number is no longer required to purchase savings bonds

That's not what the website says:

Buy Electronic Gift Bonds at TreasuryDirect

To buy an electronic savings bond:

• You must already have a TreasuryDirect account.
• Use the Gift Box functionality to buy gift bonds.
• Keep them in your account until you're ready to deliver them.

To give an electronic savings bond, you must know the recipient's:

• Full name
• Social Security Number (SSN) and/or taxpayer ID number
• TreasuryDirect account number