Treasury Direct is a waste of time

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clearwater
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Treasury Direct is a waste of time

Post by clearwater » Wed Jan 27, 2016 1:50 pm

I just wanted to let people know my experience with Treasury Direct echoes what others have said here, and I probably should have headed the warnings to avoid this whole mess.

I set up an account using the website, which failed twice during the process. You're supposed to get an account number, apparently by email (according to the web site). Although the registration went through, I didn't get an account number.

So after waiting a day, I sent an email using the website, explaining this (trying to send the email, the web page interface failed three times). And got back a rambling voicemail from TD explaining how no, you're supposed to get an account number while on the web page (this is of course the opposite of what the web site tells you). And now I'd have to go download a form, then find a bank willing to do a medallion stamp, prove your identity, send in the form, etc etc etc.

As of right now my account (mind you, which I don't even have yet) is "locked", and somehow this is all my fault.

All this ... and I haven't even started yet. I'm sure not going through any more of this. It's government inefficiency as its worst.

I would stay as far away from Treasury Direct as possible.

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Dutch
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Re: Treasury Direct is a waste of time

Post by Dutch » Wed Jan 27, 2016 1:57 pm

I've been using Treasury Direct since 2009 (remember the "secret decoder card"?) and never had a single problem.

I once needed help changing the associated bank account, and the help-desk was quick, knowledgeable, and helpful.

Fclevz
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Re: Treasury Direct is a waste of time

Post by Fclevz » Wed Jan 27, 2016 2:02 pm

If you're going for bills, notes, or bonds, it's nice that at any major brokerage, you can buy new auction treasuries without commission, or hassle.

john94549
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Re: Treasury Direct is a waste of time

Post by john94549 » Wed Jan 27, 2016 2:04 pm

Mom had a T-Bill. I finally convinced her to cash it out, before she died. Rates aside, I share your pain.

She considered it "patriotic" to own a T-Bill.

If you think depositing money with Treasury Direct is difficult . . .
Last edited by john94549 on Wed Jan 27, 2016 2:10 pm, edited 1 time in total.

Angst
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Re: Treasury Direct is a waste of time

Post by Angst » Wed Jan 27, 2016 2:08 pm

I'm sorry to hear about your problems, but my experiences with TD over the years have been entirely the opposite. It IS a convoluted login process, but I think it's a very secure website and generally well-run. I've purchased I bonds and EE bonds through it for 6 years, if I recall correctly, and have not had any memorable problems. Rather than give up in anger, I'd suggest taking a break, then re-reading the emails, etc. Then do what they want or compose another email asking them further questions. The only thing I can be sure of about your experience is that you're none too happy. Good luck.

[edit]
clearwater wrote:(trying to send the email, the web page interface failed three times)
One more thought; you DO know that you cannot use the back-arrow button in your browser nor alt-left arrow to navigate in TD? It will "fail" immediately if you do so but it's easy to do when one's used to using these keys. Just a thought - might not apply to you at all. It did to me until I learned the rule.
Last edited by Angst on Wed Jan 27, 2016 2:19 pm, edited 1 time in total.

Gnirk
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Re: Treasury Direct is a waste of time

Post by Gnirk » Wed Jan 27, 2016 2:14 pm

I have to agree. I find it very cumbersome and not at all user-friendly. I inherited 36 paper EE and I bonds that had no POD on them. After completing all the proper paperwork and mailing in the bonds, they are finally in a conversion account after three months. Now I have to transfer them into my regular account, and add beneficiaries, which I understand is a painstaking process. I really don't like the Treasury Direct website, either.

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rmelvey
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Re: Treasury Direct is a waste of time

Post by rmelvey » Wed Jan 27, 2016 2:18 pm

I am locked out of my account unless I go through a long process of finding someone at the bank with a special stamp and then I have to snail mail it to the Treasury. Luckily I cleared out my bonds before this happened. I don't plan on bothering with it again unless the fixed rate on I-Bonds goes up dramatically. It's not worth dealing with the headache. I would hate to need money from a TD account in an emergency... :annoyed
Last edited by rmelvey on Wed Jan 27, 2016 2:19 pm, edited 1 time in total.

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llama
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Re: Treasury Direct is a waste of time

Post by llama » Wed Jan 27, 2016 2:19 pm

I've been using it for a couple years and the only problem I had was where I locked myself out of the account by entering my password incorrectly too many times via their on-screen keyboard. I called them up and they quickly resolved it over the phone.

Since then I don't use the on-screen keyboard; I instead disable JavaScript on the page so that I can copy/paste from my password management program.

john94549
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Re: Treasury Direct is a waste of time

Post by john94549 » Wed Jan 27, 2016 2:20 pm

Gnirk wrote:I have to agree. I find it very cumbersome and not at all user-friendly. I inherited 36 paper EE and I bonds that had no POD on them. After completing all the proper paperwork and mailing in the bonds, they are finally in a conversion account after three months. Now I have to transfer them into my regular account, and add beneficiaries, which I understand is a painstaking process. I really don't like the Treasury Direct website, either.
My Mom cashed out her T-Bill and put it in a CD. I cannot fathom the grief I would have gone through had she not done so before her death. The "final straw" was when she was up in years, and called Treasury Direct, and was put on hold (for a longish time, or so I was told). She was legally blind at that point, deaf in one ear and impaired in the other, and just wanted to find out her interest rate. She was not pleased with her "customer service".
Last edited by john94549 on Wed Jan 27, 2016 2:39 pm, edited 2 times in total.

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Index Fan
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Re: Treasury Direct is a waste of time

Post by Index Fan » Wed Jan 27, 2016 2:30 pm

I feel your pain. It's too much of a bother.
"Optimum est pati quod emendare non possis." | -Seneca

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JupiterJones
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Re: Treasury Direct is a waste of time

Post by JupiterJones » Wed Jan 27, 2016 2:32 pm

clearwater wrote:I just wanted to let people know my experience with Treasury Direct echoes what others have said here, and I probably should have headed the warnings to avoid this whole mess.
There were warnings?

Hmmm... I haven't had any problems in the several years I've been using the site. [knocking on wood]
Stay on target...

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patrick013
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Re: Treasury Direct is a waste of time

Post by patrick013 » Wed Jan 27, 2016 2:42 pm

The bureaucracy I can live with. The thing I'm afraid to start
doing is...OK, you transfer your bonds to TD. Option to sell
is available but at what price ? Otherwise transfer the bonds
back to VG brokerage and sell. I don't even know if that is
allowed.

Last time I talked to them on the phone, yeah, they were a
little clumsy but not too bad. Didn't have to wait 40 minutes
like when I call AT&T. Oh well.
age in bonds, buy-and-hold, 10 year business cycle

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mrc
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Re: Treasury Direct is a waste of time

Post by mrc » Wed Jan 27, 2016 2:50 pm

llama wrote:Since then I don't use the on-screen keyboard; I instead disable JavaScript on the page so that I can copy/paste from my password management program.
That there is a darn fine idea! I HATE sites that prevent one from copy/paste very long randomized passwords!
People often hate what they fear

Angst
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Re: Treasury Direct is a waste of time

Post by Angst » Wed Jan 27, 2016 2:54 pm

patrick013 wrote:The thing I'm afraid to start doing is...OK, you transfer your bonds to TD. Option to sell is available but at what price ? Otherwise transfer the bonds back to VG brokerage and sell. I don't even know if that is allowed.
The only thing I would ever consider using TD for is buying/selling my series I and EE savings bonds. I'd never buy bills, notes, bonds or TIPS through them, I do that through my brokerage account where I also buy/sell ETFs. And I'd never sell these through TD either, because I'd never have purchased any there in the first place, let alone transferred them there.

Why do you want to transfer your bonds to TD? (Unless you're referring to paper I/EE "bonds"? But those you can't "transfer... back to VG brokerage".)

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galeno
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Re: Treasury Direct is a waste of time

Post by galeno » Wed Jan 27, 2016 2:58 pm

We're willing to pay an ER = 0.25% to hold our TBM ETF. It's so worth it.
AA = 40/55/5. Expected CAGR = 3.8%. GSD (5y) = 6.2%. USD inflation (10 y) = 1.8%. AWR = 4.0%. TER = 0.4%. Port Yield = 2.13%. Term = 34 yr. FI Duration = 6.2 yr. Portfolio survival probability = 95%.

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patrick013
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Re: Treasury Direct is a waste of time

Post by patrick013 » Wed Jan 27, 2016 3:02 pm

Angst wrote:Why do you want to transfer your bonds to TD? (Unless you're referring to I/EE "bonds"? But those you can't "transfer... back to VG brokerage".)
Hi,

Well SIPC insurance is only good thru $500,000 otherwise you have
to go thru a couple brokers for SIPC insurance. This Lloyd's of
London insurance is nice but not a govt. mandate. Only reason.
age in bonds, buy-and-hold, 10 year business cycle

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dbCooperAir
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Re: Treasury Direct is a waste of time

Post by dbCooperAir » Wed Jan 27, 2016 3:06 pm

When I clear out my browser TD needs to email a new passcode (I think that's what causes it). Sometimes I get the passcode in a few seconds, sometimes it never comes but if I try it again a few days latter and the passcode will come right thru.

The site is a tad undesirable, when I go to log out it ask to rate my experience, I always vote "poor" The more I think about it I should vote "excellent", I would hate for an upgrade and it becomes worse!
Neither a wise man nor a brave man lies down on the tracks of history to wait for the train of the future to run over him. | -Dwight D. Eisenhower-

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BeerMoney
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Re: Treasury Direct is a waste of time

Post by BeerMoney » Wed Jan 27, 2016 3:09 pm

I signed up last summer and had to go through all the hoops too.

Took them three months to process my paper savings bonds and convert them. You're pretty much left in the dark about what is going on too. I sent a question in about it and just got some basic response back telling me they were taking up two 12 weeks to process lately.

Their website is really bizarre/hard to use and navigate too.

Tramper Al
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Re: Treasury Direct is a waste of time

Post by Tramper Al » Wed Jan 27, 2016 3:11 pm

I guess I am lucky, that I have never been actually locked out. I survived the "code card" days, and now just struggle with TD's inability to "remember this computer" and with my own difficulty in recalling the answers that I gave many years ago to the sometimes subjective (or at least ambiguous) security questions every time I want to do something radical like transfer money to my bank account of record.

I can report, however, that if you log in every day for three weeks or so, you get pretty good at navigating the log in, and TD gets a little better at "remembering" you.

On a not unrelated note, can anyone please tell me how many WEEKS (or is it months) it takes for a mailed in paper I-bond conversion to actually be processed and show up in your TD account? I actually waited until I was entering a no-penalty period for redemption, but am thinking now that that was a mistake.
Last edited by Tramper Al on Wed Jan 27, 2016 3:14 pm, edited 1 time in total.

Angst
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Re: Treasury Direct is a waste of time

Post by Angst » Wed Jan 27, 2016 3:13 pm

patrick013 wrote:
Angst wrote:Why do you want to transfer your bonds to TD? (Unless you're referring to I/EE "bonds"? But those you can't "transfer... back to VG brokerage".)
Hi,

Well SIPC insurance is only good thru $500,000 otherwise you have
to go thru a couple brokers for SIPC insurance. This Lloyd's of
London insurance is nice but not a govt. mandate. Only reason.
Interesting problem, one I don't have! :shock:
I don't recall ever reading here about people using TD as their place for holding Treasury instruments other than Savings Bonds, and I haven't looked into it. I know you can buy them at auction there, so of course you must be able to sell them too. But not having had any need for it, I know nothing about the mechanics of doing it, let alone the pricing, spreads or the secondary market at TD. No idea. Perhaps others do?

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patrick013
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Re: Treasury Direct is a waste of time

Post by patrick013 » Wed Jan 27, 2016 3:21 pm

Angst wrote:
patrick013 wrote:
Angst wrote:Why do you want to transfer your bonds to TD? (Unless you're referring to I/EE "bonds"? But those you can't "transfer... back to VG brokerage".)
Hi,

Well SIPC insurance is only good thru $500,000 otherwise you have
to go thru a couple brokers for SIPC insurance. This Lloyd's of
London insurance is nice but not a govt. mandate. Only reason.
Interesting problem, one I don't have! :shock:
I don't recall ever reading here about people using TD as their place for holding Treasury instruments other than Savings Bonds, and I haven't looked into it. I know you can buy them at auction there, so of course you must be able to sell them too. But not having had any need for it, I know nothing about the mechanics of doing it, let alone the pricing, spreads or the secondary market at TD. No idea. Perhaps others do?
Well say you see a great deal in the secondary market for 5 year TRSY notes.
Buy at VG and you can also transfer them to TD for safekeeping. Supposed
to be 100% secure at any amount for any reason.

You can also tell the computer to replace those notes after redemption at
the next auction price, whatever that is, automatically, and hold them at TD.
age in bonds, buy-and-hold, 10 year business cycle

Angst
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Re: Treasury Direct is a waste of time... Not!

Post by Angst » Wed Jan 27, 2016 3:44 pm

patrick013 wrote:
Angst wrote:Interesting problem, one I don't have! :shock:
I don't recall ever reading here about people using TD as their place for holding Treasury instruments other than Savings Bonds, and I haven't looked into it. I know you can buy them at auction there, so of course you must be able to sell them too. But not having had any need for it, I know nothing about the mechanics of doing it, let alone the pricing, spreads or the secondary market at TD. No idea. Perhaps others do?
Well say you see a great deal in the secondary market for 5 year TRSY notes.
Buy at VG and you can also transfer them to TD for safekeeping. Supposed
to be 100% secure at any amount for any reason.

You can also tell the computer to replace those notes after redemption at
the next auction price, whatever that is, automatically, and hold them at TD.
So I just logged into TD to confirm for myself that you can't buy/sell in the secondary market with TD, but you can house your instruments there. With the amount of money you're talking about I can't imagine it's not worth your time to get comfortable with the TD website. With patience, you ought to be able to figure it out. There really are many people here like me who have little trouble at all using it, I suppose having figured out its quirks and eccentricities.
Last edited by Angst on Wed Jan 27, 2016 3:47 pm, edited 1 time in total.

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Mel Lindauer
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Re: Treasury Direct is a waste of time

Post by Mel Lindauer » Wed Jan 27, 2016 3:46 pm

As many of you know, I've been a long-time supporter of Savings Bonds, but have never really been a fan of TD (I did use it for a short period to test it out). Besides all of the set-up and log-in issues and the fact that you don't get emailed 1099s, my main concern was how my heirs would possibly be able to deal with TD after my eventual demise. Didn't want them to have to deal with that, so I redeemed the online bonds and closed the account. I'm sticking with my paper I Bonds.
Best Regards - Mel | | Semper Fi

clearwater
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Re: Treasury Direct is a waste of time

Post by clearwater » Wed Jan 27, 2016 3:51 pm

For what it's worth, the only reason I was going to do this was to hold some short-term bills (< 1 year), bought at auction, and then have them automatically reinvested in a same-term instrument. This is one thing you kind of get "for free" with TD if you want a no cost way to hold short-term government issues which keeps compounding. If you're bumping up against NCUA insurance limits, this is an attractive custodial option. But who needs this silliness to do something seemingly so mundane? I'll just use 90-day auto-reinvested CDs at the credit union and take the insurance risk. And Fidelity now offers the same "auto-repurchase" bond option for bills under five years in duration -- of course, it's not really "free" at Fidelity as they are making money on the spread, but you can't beat the convenience.

To answer an earlier reply, I do know about the back button navigation problem and so on, but this was something else, caused by back-end timeouts. Any computer science graduate student could design a superior website. Their is no excuse for this level of professional incompetence, when your customers need to use your web interface to conduct any business.

In an age when people can do almost everything on their phones, Amazon can deliver physical products overnight or even same-day, and Vanguard can sell you an automatically rebalanced Target Retirement fund, who has the energy to put up with medallion stamps, postal mail, and a bureacracy that takes months to get things done? I was really hoping this would be a good experience, but as people before me had said, it's a mess. They were right, and I should have listened to the Boglehead experiences of those earlier commentators.

I'll stick with Schwab and the credit union. Smart people answer the phones, the websites all work, and my money isn't held captive by failing technology.

If someone from the Department of Treasury is reading this -- go hire a professional web design firm and developers with back-end infrastructure engineering skills, and build something that works -- Treasury Direct as implemented is a failure. As a prospective customer, I will never do business with you after my one and only experience.

john94549
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Re: Treasury Direct is a waste of time

Post by john94549 » Wed Jan 27, 2016 4:00 pm

Mel Lindauer wrote: my main concern was how my heirs would possibly be able to deal with TD after my eventual demise.
At least you've considered this, and a great plus for that. Dealing with TD was difficult for my Mom, as noted above.

I shudder to think how it might have been had the money still been "locked up" when she died.
Last edited by john94549 on Wed Jan 27, 2016 4:08 pm, edited 1 time in total.

dbr
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Re: Treasury Direct is a waste of time

Post by dbr » Wed Jan 27, 2016 4:02 pm

john94549 wrote:
Mel Lindauer wrote: my main concern was how my heirs would possibly be able to deal with TD after my eventual demise.
At least you've considered this, and a great plus for that. Dealing with TD was difficult for my Mom, as noted above.
I have avoided TD. I don't want anyone having to deal with this later.

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telemark
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Re: Treasury Direct is a waste of time

Post by telemark » Wed Jan 27, 2016 4:07 pm

I've used TD twice this month, once to redeem last year's I bond and again to buy one for 2016. No problems either time. It's clunky but it works.

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patrick013
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Re: Treasury Direct is a waste of time

Post by patrick013 » Wed Jan 27, 2016 4:16 pm

Yeah, they tend to expect the computer to work wonders instead
of limiting code structures a bit so small hand held users can get
some response from their "tablets". If I ever do a website it's
going to be plain graphic paper in almost text mode. Simple
links, clear but small graphics, not much on each page, clear
links to any topic.

Anyway, main gripe is they will sell your TRSY notes but will sell
them at any price as long as it is that day's market price. Interactive
Brokers and now defunct TradeMonster allowed you to put in an
active price for a sell. At Interactive they allowed you to put in
an active price for a buy also. But then they charge $1 per TRSY
note with no limit and I thought that was kinda steep. So if I do
want to sell a note I think VG brokerage has a sell screen with your
price to be input requesting a matching bid/ask agreement. Haven't
done it yet but it sounds better than InteractiveBrokers live sell price
screen with unlimited fee of course.
age in bonds, buy-and-hold, 10 year business cycle

john94549
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Re: Treasury Direct is a waste of time

Post by john94549 » Wed Jan 27, 2016 4:18 pm

Telemark, I guess the point we "old folks" were making is that it's ever so much easier to "give" than to "receive".

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telemark
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Re: Treasury Direct is a waste of time

Post by telemark » Wed Jan 27, 2016 4:22 pm

john94549 wrote:Telemark, I guess the point we "old folks" were making is that it's ever so much easier to "give" than to "receive".
Well, I just did both. Had the money transferred to my bank account just because I was curious how that would work. It did take a few days.

john94549
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Re: Treasury Direct is a waste of time

Post by john94549 » Wed Jan 27, 2016 4:27 pm

Telemark, well good for you. It's nice to hear some positive comments. That said, I wouldn't go near TD with any serious money. My Mom's experience was enough to scare me away forever.

Just give me a good, old-fashioned, FDIC/NCUA-insured CD. Preferably from a financial institution which answers the phone.

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GK4321
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Re: Treasury Direct is a waste of time

Post by GK4321 » Wed Jan 27, 2016 4:42 pm

The process was pretty mysterious when we set up our accounts a few years ago. I guess since then, I’ve gotten used to it. No major problems so far.

My wife and I each have an account. We purchase savings bonds once a year in January. I ask her to log in to her account at the same time I do and purchase them at the same time. At least that way I know she’s facile with the website. She’s actually probably faster than me at this point.

It now takes us about 15 minutes start to finish to buy all the bonds. I can tolerate the weirdness for 15 minutes a year.
dbCooperAir wrote:The site is a tad undesirable, when I go to log out it ask to rate my experience, I always vote "poor" The more I think about it I should vote "excellent", I would hate for an upgrade and it becomes worse!
That's pretty funny. I might start doing that as well.

GK

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Re: Treasury Direct is a waste of time

Post by 3504PIR » Wed Jan 27, 2016 4:53 pm

I have had an account since 2010 and have never had a single issue. The original sign up process was a slight challenge, but I took it in stride that I was proving who I was and not someone else trying to open an account in my name (stand by for the numerous fraudulent tax filing the ads).

The few times I read about issues over the years came down to older users making mistakes or becoming confused with the process. For that reason I wish paper I bonds were still available, but I remain a happy user who finds the interface and transactions excellent.

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Treasury Direct is NOT a waste of time

Post by weltschmerz » Wed Jan 27, 2016 5:13 pm

I have used Treasury Direct for many years, with no problems at all. I have done it all with them: buying and selling savings bonds, buying and selling individual treasury bonds, doing conversions of paper to electronic savings bonds, getting locked out and having to call customer service. In every case, Treasury Direct performed perfectly. I have ZERO complaints, and I would recommend them to anyone. I-Series Savings Bonds are a wonderful savings vehicle (tax-deferred, inflation protected), so have some patience and do whatever it takes to get your account up and working. You will be happy in the long run.

saves nine
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Re: Treasury Direct is a waste of time

Post by saves nine » Wed Jan 27, 2016 5:18 pm

I have a TD account and agree with those remarking favorably on its security and ease in regard to non-negotiable bonds -- I, EE, etc.

Until a couple years ago, TD had an arrangement with a private brokerage (in Chicago, I believe) which smoothly and cheaply handled sales of marketable securities held in the account. When that service ended, I moved my TIPS to Vanguard brokerage. Vanguard sales are even cheaper than TD's were, and it is not restricted to new issues with regard to purchases. I would not purchase any marketable security (bill, note, bond, TIPS) through TD if I thought there were any possibility of selling before maturity.

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Re: Treasury Direct is a waste of time

Post by tibbitts » Thu Jan 28, 2016 8:57 am

Mel Lindauer wrote:I'm sticking with my paper I Bonds.
I'd agree except you can't stick with paper, at least not when you almost inevitably need to change the owner or co-owner or beneficiary. That's a disadvantage to the otherwise-easy-to-deal-with paper bonds that I hadn't thought of when I purchased them.

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Toons
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Re: Treasury Direct is a waste of time

Post by Toons » Thu Jan 28, 2016 8:58 am

No problems here for years with Treasury Direct,
Matter of fact ,just received and email from them,,
1099Int is ready :happy
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee

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Blues
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Re: Treasury Direct is a waste of time

Post by Blues » Thu Jan 28, 2016 10:13 am

I got fed up with TD myself and cashed out our I Bonds on New Year's Day. (Processed nice and quick, thank you.)

I used some of that money to buy a new truck so it wasn't a total loss. :sharebeer
“Tactics without strategy is the noise before defeat.” - Sun Tzu | "Everybody has a plan until they get punched in the mouth." - Mike Tyson

sumi
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Re: Treasury Direct is a waste of time

Post by sumi » Thu Jan 28, 2016 10:24 am

I have no problem either. Have been using it for at least 3 years.The customer service is also good.

quantAndHold
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Re: Treasury Direct is a waste of time

Post by quantAndHold » Thu Jan 28, 2016 10:30 am

llama wrote: Since then I don't use the on-screen keyboard; I instead disable JavaScript on the page so that I can copy/paste from my password management program.
THANK YOU! That on screen keyboard is a nightmare for anyone with vision problems. Every time I have to login to that site I struggle with that keyboard, but since I only need to go there about twice a year, I never remember to ask them if there's an alternative for visually impaired customers.

wow!howmuch?
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Re: Treasury Direct is a waste of time

Post by wow!howmuch? » Thu Jan 28, 2016 10:44 am

I am new here but long time investor. Really missed the I bond haydays but will be starting to buy with my tax return. My children all have EE bonds from gifts. I just opened a TD account a few days ago and bought a EE for me (I'm 45) thought the TD was easy and fast. No issues.

Fun, over the past day or to I too have the fear or realization that Mel posted. I wonder if I will have to write down all the passwords to my TD account and the email that it is attached too for my children

We are really the first generation to having to think about passing down digital data to future family members.

Any my more thoughts by Mel (who is awesome) and others about keeping the TD account..... I don't have all the answers but I do like the account ( would love the old days of paper too)
"Gold is warm and contains something of the sun". --Saint Hildegard of Bingen (1098-1179)

jimkinny
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Joined: Sun Mar 14, 2010 1:51 pm

Re: Treasury Direct is a waste of time

Post by jimkinny » Thu Jan 28, 2016 11:25 am

I have never had a problem and appreciate the security imposed by TD.

People/companies/gov through out the world buy and sell T Bills/Bonds.

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DaftInvestor
Posts: 3960
Joined: Wed Feb 19, 2014 10:11 am

Re: Treasury Direct is a waste of time

Post by DaftInvestor » Tue Feb 09, 2016 9:59 am

I just had the opposite experience than the OP. This was the fastest account I have ever set up I think (comparing it to 3 different Bank accounts I set up in the past for high-yield savings and CDs). It took me only a few minutes to set up the account and buy an iBond.
I also found the site very easy to navigate - could find all the information I needed and the iBond buying experiences nicely presented all the options (single-time purchase, scheduled purchases, multiple-single-time purchases, etc.). I guess I should wait until the transaction clears to make final judgement but boy was that easy.

Jack FFR1846
Posts: 7387
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Re: Treasury Direct is a waste of time

Post by Jack FFR1846 » Tue Feb 09, 2016 10:13 am

My experience back in the days where one could log in, and order iBonds using a credit card is that the system then was flawless. I guess it was too good, so they let the clowns in to redo the site.

Forward to about 2008. After 3 hours, we were able to cash 2 $50 electronic bonds (only ones we had electronically) with a helpful person on the phone.

I have stacks of iBonds in paper. I'll continue to get some with federal tax refunds but will never deal with TD until I hear that they've fixed the website. My credit union cheerfully cashes my paper bonds when needed and back in the day, I could buy them by getting the forms and filling them in at home whenever I wanted. Ah, life was so much simpler then.
Bogle: Smart Beta is stupid

deadlymonkey
Posts: 58
Joined: Wed Jan 30, 2013 5:22 pm

Re: Treasury Direct is a waste of time

Post by deadlymonkey » Tue Feb 09, 2016 2:45 pm

We tried to gift Savings Bonds to our nieces/nephews for birthdays etc.. Turns out, we needed to create a Treasury DIrect Account, then our relatives needed an account, and then they needed to create an account for the 2 year child and link the parent/child accounts. That was too much of a pain so we decided to gift silver bars instead. Much easier.....and tangible.

toolate
Posts: 2
Joined: Wed Feb 24, 2016 6:22 pm

Re: Treasury Direct is a waste of time

Post by toolate » Wed Feb 24, 2016 6:26 pm

Tried to open an account at TD with my business this week. Told there would be a 15-20 week wait to confirm!!!!
What gives?!!

Please give me some good alternatives

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LadyGeek
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Re: Treasury Direct is a waste of time

Post by LadyGeek » Wed Feb 24, 2016 7:43 pm

We have similar frustrations here: How long does TreasuryDirect take to convert paper I bonds?

Please stay factual and avoid opinions of the political process.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

Fclevz
Posts: 367
Joined: Fri Mar 30, 2007 11:28 am

Re: Treasury Direct is a waste of time

Post by Fclevz » Wed Feb 24, 2016 9:01 pm

toolate wrote:Tried to open an account at TD with my business this week. Told there would be a 15-20 week wait to confirm!!!!
What gives?!!

Please give me some good alternatives
You can buy new auction treasuries without commission or hassle at any major brokerage.

Broken Man 1999
Posts: 1271
Joined: Wed Apr 08, 2015 11:31 am

Re: Treasury Direct is a waste of time

Post by Broken Man 1999 » Thu Feb 25, 2016 10:20 am

Glad I saw this thread. I hadn't checked on the very few bonds I have at Treasury Direct.

As usual, easy sign-in, after OTP (one time password) was sent to my email. After signing out, my PC was recognized the second time I signed in. Though, I sign in so infrequently I'm sure I will always need the OTP.

I noticed my bonds have been approved for the conversion from paper, at least the email dated 2006 said so. I haven't got around to it, yet. Maybe that's a good project for this year.

I updated my account by adding a cell phone number.

BTW, TD's ongoing survey about their service is below (last 30 days)

TreasuryDirect® Survey Results

Thank you for completing our survey. Your feedback is very important to us, as we work to improve our services. The results shown below are for the last 30 days and include your score. Due to rounding, the numbers below may not add to 100. Also, some of the numbers may be 0 because of either rounding or small sample size. If you'd like to provide more specific comments, please e-mail us.


TreasuryDirect
Excellent 61%
Good 26%
Fair 7%
Poor 6%

I have not experienced the type problems others have, and am OK with the site, especially since I don't have to keep up with my conversion card. Now that was a PITA! :annoyed

Broken Man 1999
“If I cannot drink Bourbon and smoke cigars in Heaven than I shall not go. " -Mark Twain

bayview
Posts: 1516
Joined: Thu Aug 02, 2012 7:05 pm
Location: WNC

Re: Treasury Direct is a waste of time

Post by bayview » Thu Feb 25, 2016 7:33 pm

So is the difference this? --

EE bonds and I bonds, no problem
T-bills etc., no so easy

Can I bonds only be purchased at TD and via and income tax refund (paper version)?

https://www.bogleheads.org/wiki/I_savings_bonds
The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri

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