I just read David Braze's "Inflation Protected Investments," and I'm curious: According to this article, I Bonds may be purchased or redeemed at most local banks. I bought a few I Bonds in April and again in May (of this year) and could not obtain them except through a federal reserve bank. This was relatively simple and involved sending for an order form and returning it to the nearest branch of the FRB.(I obtained the order form online at www.investinginbonds.com .) Have the rules changed since May, and are these bonds, like EE Bonds, now available and redeemable at most banks?
---I bought a few I Bonds in April and again in May (of this year) and could not obtain them except through a federal reserve bank.---Get them online.http://www.publicdebt.treas.gov/sav/sbiinvst.htm
The problem with buying I Bonds online is that you need a credit card other than American Express, which is the only one I use. That's why I went to a bank. The question remains: can you now buy and redeem I Bonds in banks other than the Federal Reserve?
Greetings, Oldpurdie, and welcome. You asked:<<The question remains: can you now buy and redeem I Bonds in banks other than the Federal Reserve?>>According to the Bureau of Public Debt: "You can buy I Bonds from most banks, credit unions, or savings institutions. These institutions accept funds and purchase orders and forward the order to a Federal Reserve Bank where the bonds are issued and mailed according to your instructions. You should receive your bonds within 15 business days and the bonds begin earning interest from the first day of the month in which you buy the bond. If you're buying a bond as a last-minute gift, ask the teller for a free gift certificate! "For redemptions, that agency says: "You can cash your I Bonds at most local financial institutions. The bonds must be at least six months old and you must be able to identify yourself as the owner, co-owner, or other entitled person. "Regards..Pixy
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