Due to Treasury Direct not canceling an original IBond order after online request to do so, and then doubly processing two orders, I am due a $10k refund (from May 1st)!
After FINALLY reaching a live person to inquire about the missing refund (which an email stated I would receive in "8-10 weeks"), the nice but very apologetic lady said, "honey you'll be lucky if you get this refund in 6 months"...
Which made wonder how long it takes when you choose to redeem an Ibond. Does anyone care to share your experience?
Treasury Direct Redemption/Refund delays
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Jennyontheblock
- Posts: 4
- Joined: Sun Feb 28, 2021 5:17 pm
Re: Treasury Direct Redemption/Refund delays
One business day. Maybe a couple of additional days if your bank has slow ACH. I assume refunds need to go through a bureaucratic process, but redeeming is as automated as purchasing.
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Jennyontheblock
- Posts: 4
- Joined: Sun Feb 28, 2021 5:17 pm
Re: Treasury Direct Redemption/Refund delays
Well that is very encouraging! I was tempted to stop Ibond purchases for my elderly mother if it was found to be a hassle!