I-Bonds: How long does it take to buy them?
I-Bonds: How long does it take to buy them?
I'm thinking about buying 5-10k in I-Bonds before the end of the year to serve as part of my EF (I'm fine waiting a year before I can withdraw the money, I'll keep other money for emergencies this year). I read it's best to buy I-Bonds at the end of the month. I see you can take care of it online. How long does it take to actually purchase the bonds and transfer the funds? I assume the funds have to be transferred by 12/31 to meet the deadline for this year, right?
Thanks,
Iced Tea
Thanks,
Iced Tea
Re: I-Bonds: How long does it take to buy them?
It is very quick process. Just go to http://treasurydirect.gov/, create an account, and transfer the money from your bank to buy I saving bonds. A couple days at the most.
Best,
AC
Best,
AC
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Re: I-Bonds: How long does it take to buy them?
Do you have a Treasury Direct account? If not, don't wait - set it up now!
The absolute last day to submit your order for purchase is the next to last business day before the actual purchase. This year 12/31 falls on a Monday - if you want to ensure your purchase goes through on Monday - I'd place the order no later than Thursday night of the preceding week with a schedule to purchase on 12/31.
This is not directed towards you (OP), but I don't understand why some folks like to procrastinate and wait till the absolute last day to submit the order.
The absolute last day to submit your order for purchase is the next to last business day before the actual purchase. This year 12/31 falls on a Monday - if you want to ensure your purchase goes through on Monday - I'd place the order no later than Thursday night of the preceding week with a schedule to purchase on 12/31.
This is not directed towards you (OP), but I don't understand why some folks like to procrastinate and wait till the absolute last day to submit the order.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Re: I-Bonds: How long does it take to buy them?
Thanks for the help. Agreed, I wouldn't be doing it last minute if I had the chance but I've been waiting for a CD to mature. It just matured the other day so I'm still waiting for the money to come across!Grt2bOutdoors wrote:Do you have a Treasury Direct account? If not, don't wait - set it up now!
The absolute last day to submit your order for purchase is the next to last business day before the actual purchase. This year 12/31 falls on a Monday - if you want to ensure your purchase goes through on Monday - I'd place the order no later than Thursday night of the preceding week with a schedule to purchase on 12/31.
This is not directed towards you (OP), but I don't understand why some folks like to procrastinate and wait till the absolute last day to submit the order.
Re: I-Bonds: How long does it take to buy them?
Be aware when you deposit a large amount in your account, there may be a "hold" put on it at your bank or credit union. Mine was for seven business days.icedtea wrote:Thanks for the help. Agreed, I wouldn't be doing it last minute if I had the chance but I've been waiting for a CD to mature. It just matured the other day so I'm still waiting for the money to come across!
Jerry
"I was born with nothing and I have most of it left."
Re: I-Bonds: How long does it take to buy them?
Yeah, that's happened before. I'll have to see what happens. Worst case scenario I just buy the bonds in late Jan. I don't intend to purchase more in the near term. I'm not aiming to accumulate I-Bonds beyond use in my EF at this time.NAVigator wrote:Be aware when you deposit a large amount in your account, there may be a "hold" put on it at your bank or credit union. Mine was for seven business days.icedtea wrote:Thanks for the help. Agreed, I wouldn't be doing it last minute if I had the chance but I've been waiting for a CD to mature. It just matured the other day so I'm still waiting for the money to come across!
Jerry
Iced Tea
Re: I-Bonds: How long does it take to buy them?
I recently opened a TD account and the account was placed on hold pending a TD authorization form. I had to take the form to a local bank and have it signed with a medallion stamp. Has anyone had to deal with this process, and if so how long did it take before you could make purchases?
Doctev
Doctev
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Re: I-Bonds: How long does it take to buy them?
Just to be sure, hope you understand that the account can be set up without having the money available. The bottleneck you are facing is the time needed to get the account in place. Would start that process immediately.icedtea wrote: Agreed, I wouldn't be doing it last minute if I had the chance but I've been waiting for a CD to mature. It just matured the other day so I'm still waiting for the money to come across!
Dick
Re: I-Bonds: How long does it take to buy them?
Setting up the account takes a few minutes. After sending in the authorization form, it may take a few weeks (2-3 weeks) to have the account active to buy bonds or receive gifts. Keep checking your messages in the TD account...Doctev wrote:I recently opened a TD account and the account was placed on hold pending a TD authorization form. I had to take the form to a local bank and have it signed with a medallion stamp. Has anyone had to deal with this process, and if so how long did it take before you could make purchases?
Doctev
Re: I-Bonds: How long does it take to buy them?
There is a delay in setting up the bank account as I recall.
I think you can buy them as small as $25?
I would suggest buying a small one tonight just to get through the initial process.
I think you can buy them as small as $25?
I would suggest buying a small one tonight just to get through the initial process.
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Re: I-Bonds: How long does it take to buy them?
Doctev wrote:I recently opened a TD account and the account was placed on hold pending a TD authorization form. I had to take the form to a local bank and have it signed with a medallion stamp. Has anyone had to deal with this process, and if so how long did it take before you could make purchases?
Doctev
I went through that process when I switched banks, after mailing it in, it took about 8-10 business days, so 2 weeks sounds just about right.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Re: I-Bonds: How long does it take to buy them?
I purchase I Bonds on the last business day of the month in order to get an interest credit for the whole month. Every little bit helps. Although my purchase will be January 31.Grt2bOutdoors wrote:Do you have a Treasury Direct account? If not, don't wait - set it up now!
The absolute last day to submit your order for purchase is the next to last business day before the actual purchase. This year 12/31 falls on a Monday - if you want to ensure your purchase goes through on Monday - I'd place the order no later than Thursday night of the preceding week with a schedule to purchase on 12/31.
This is not directed towards you (OP), but I don't understand why some folks like to procrastinate and wait till the absolute last day to submit the order.
Re: I-Bonds: How long does it take to buy them?
When you enter a requested purchase date, Treasury Direct will list what the actual purchase date will be, so you can revise the order if needed.
- hollowcave2
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Re: I-Bonds: How long does it take to buy them?
At Treasury Direct, it takes 2 business days for the bonds to be assigned. Since 12/31 is a Monday, you need to place the order by Thursday 12/27.
I believe that you can also walk into a bank that has an agent that sells savings bonds and be able to get the bonds dated December on the last day, 12/31. But these would be paper bonds mailed to you.
I believe that you can also walk into a bank that has an agent that sells savings bonds and be able to get the bonds dated December on the last day, 12/31. But these would be paper bonds mailed to you.
Re: I-Bonds: How long does it take to buy them?
Just buy them whenever. Even if you buy the full $10k limit of them, the return on investment you'll get by waiting a few more days until the end of this month would amount to something like five dollars.
Re: I-Bonds: How long does it take to buy them?
Savings bonds are no longer sold by banks. They are only available from the Treasury Direct website in electronic form and in paper only by the "backdoor" method on your income tax return.hollowcave2 wrote:At Treasury Direct, it takes 2 business days for the bonds to be assigned. Since 12/31 is a Monday, you need to place the order by Thursday 12/27.
I believe that you can also walk into a bank that has an agent that sells savings bonds and be able to get the bonds dated December on the last day, 12/31. But these would be paper bonds mailed to you.
Re: I-Bonds: How long does it take to buy them?
I registered an account and submitted a purchase request for Series I Savings Bonds late last night at the Treasury Direct web site, and the bonds showed up in my account this morning. So, took less than 12 hours.icedtea wrote:How long does it take to actually purchase the bonds and transfer the funds?
Only issue was that the account number for my wife's account didn't come through until several hours after registering online.
Re: I-Bonds: How long does it take to buy them?
I'm buying mine $192.30 a week which will put me a few cents under 10k by the end of the year. Still pondering if I want to make a huge purchase for the end of this year as I just started with these I-bonds two weeks ago.
- hollowcave2
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Re: I-Bonds: How long does it take to buy them?
Wow, you are absolutely right. This year flew by! I have to keep up with the times!Savings bonds are no longer sold by banks. They are only available from the Treasury Direct website in electronic form and in paper only by the "backdoor" method on your income tax return.
OK, so the last day to buy savings bonds issued this year is Thursday 12/27.
Thanks for keeping my brain up to date.
Steve
Re: I-Bonds: How long does it take to buy them?
Can we add more than one bank on treasury direct?
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Re: I-Bonds: How long does it take to buy them?
No - one bank account per individual TD account. I tried the multiple bank account and it was a "no-go".buzzlight wrote:Can we add more than one bank on treasury direct?
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
- Phineas J. Whoopee
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Re: I-Bonds: How long does it take to buy them?
Hi Grt2bOutdoors,Grt2bOutdoors wrote:No - one bank account per individual TD account. I tried the multiple bank account and it was a "no-go".buzzlight wrote:Can we add more than one bank on treasury direct?
By no means am I suggesting you didn't have that experience, but logging in today, Treasury Direct's website draws a distinction between a primary and other, non-primary accounts. I accessed the bank account addition form and it not only lets one say whether the new account is primary or not, it even has space for adding yet another account at the same time.
http://www.treasurydirect.gov/pdf/rs/PDF5512.pdf
Based on the form, at least, it appears to me there is a way to link more than one bank account, from today anyway.
PJW
Re: I-Bonds: How long does it take to buy them?
So is tonight last option to buy I bonds for 2012? Or will it be Ok to submit by 12/28 or 12/31?
My 50% are allotted worried about remaining 50%. Thanks for sharing your experience on this.
My 50% are allotted worried about remaining 50%. Thanks for sharing your experience on this.
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Re: I-Bonds: How long does it take to buy them?
Log on to TD and see. 12/31 will definitely be too late.buzzlight wrote:So is tonight last option to buy I bonds for 2012? Or will it be Ok to submit by 12/28 or 12/31?
My 50% are allotted worried about remaining 50%. Thanks for sharing your experience on this.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions
Re: I-Bonds: How long does it take to buy them?
I bought mine this evening, as soon as I could. The site indicates a purchasing date of 12/28. I'm not sure if that means my bonds will be confirmed tomorrow but they should be in place by Monday. I'd go ahead and get moving.Grt2bOutdoors wrote:Log on to TD and see. 12/31 will definitely be too late.buzzlight wrote:So is tonight last option to buy I bonds for 2012? Or will it be Ok to submit by 12/28 or 12/31?
My 50% are allotted worried about remaining 50%. Thanks for sharing your experience on this.
Iced Tea
Re: I-Bonds: How long does it take to buy them?
Made the move, I got purchase date of 12/31.
Re: I-Bonds: How long does it take to buy them?
Sounds good. Does this date show up on your history tab on the TD web site?buzzlight wrote:Made the move, I got purchase date of 12/31.
My history tab says I have a 'Purchase Requested' dated 12/28. It's not crystal clear that this is the date the bond will be confirmed but hopefully we're in the clear.
Iced Tea
Re: I-Bonds: How long does it take to buy them?
No I don't see it in history. I think you will see the allotment on Monday and I will see on tue/wed for year 2012 i'll update this thread and never repeat this procrastination
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Re: I-Bonds: How long does it take to buy them?
I just purchased some ibonds and the date on it was Dec 31 2012.
So I guess Dec 27th is the last day to buy for the year.
So I guess Dec 27th is the last day to buy for the year.
Re: I-Bonds: How long does it take to buy them?
I created new accounts and placed I Bond orders on Dec 22. The bonds were there on Dec 24. No holds on the bank transfers at all.
SS
SS
Re: I-Bonds: How long does it take to buy them?
I logged onto TD's web site and my purchase shows up under Current Holdings. All set in a day.
Iced Tea
Iced Tea
Re: I-Bonds: How long does it take to buy them?
Assuming the funds are coming from a high-yield online account (0.80%), we're talking less than a U.S. quarter per day. This is way, way down on the list of important investment decisions. It shouldn't even be on the I-bond wiki, IMO (some people will time it wrong, trying to get $0.21 of interest and losing 30x that.)linguini wrote:Just buy them whenever. Even if you buy the full $10k limit of them, the return on investment you'll get by waiting a few more days until the end of this month would amount to something like five dollars.
A thing is right when it tends to preserve the integrity, stability, and beauty of the biotic community. It is wrong when it tends otherwise. -Aldo Leopold's Golden Rule of Ecology
Re: I-Bonds: How long does it take to buy them?
Placed an order on Wednesday night to buy the next day. The cash left my bank by the time I logged in Thursday morning.
Re: I-Bonds: How long does it take to buy them?
Phew! Allotment was completed when I logged in to my TD account today.buzzlight wrote:No I don't see it in history. I think you will see the allotment on Monday and I will see on tue/wed for year 2012 i'll update this thread and never repeat this procrastination