Big changes in store for U.S. Savings Bonds!
the bank of missouri
Paper savings bonds will not be sold through financial institutions or mail order after December 31, 2011. You can buy electronic savings bonds online through TreasuryDirect: www.treasurydirect.gov.
Over-the-Counter Sales of Paper Savings Bonds Ending in 2011
Customers can buy electronic bonds online at www.treasurydirect.gov
Source: U.S. Department of the Treasury, Bureau of the Public Debt
The U.S. Department of the Treasury will end over-the-counter sales of paper savings bonds on December 31, 2011, including sales through financial institutions and applications mailed directly to the Federal Reserve Bank by customers. This move is expected to save taxpayers an estimated $70 million over the next five years.
Although paper bonds are being discontinued, electronic Series EE and Series I Savings Bonds will remain available for purchase via TreasuryDirect. This secure, web-based system, operated by the Bureau of the Public Debt, has been used by investors since 2002 to purchase savings bonds online.
You can purchase, manage and redeem electronic savings bonds online through www.treasurydirect.gov. Electronic savings bonds are secure and convenient to manage through TreasuryDirect, and investors no longer have to worry about misplacing, losing or storing savings bonds. In addition, with a TreasuryDirect account, customers can purchase electronic savings bonds as gifts and also convert paper savings bonds to electronic.
Bank customers will have until close of business on December 31, 2011 to submit final purchase applications and funds. Final applications mailed directly to the Federal Reserve by customers must be received by December 31, 2011.
However, The Bank of Missouri CAN continue to redeem paper bonds. Paper bonds that have not yet matured but are lost, stolen or destroyed can be reissued in paper or electronic form.
If you have questions, please call us at 888-547-6541, visit your nearest location, email us at info@bankofmissouri.com, or use the Contact Us form to submit your question online.
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