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How do I purchase more than $1,000 of I-Bonds online? When I try doing so at http://www.savingsbond.gov/ols/olshome.htm I get the message "You can buy up to $1,000 (total purchase price) in a single online transaction".

If I wanted to buy $30,000 online, does that mean I have to enter 30 transactions?

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Sounds like 30 purchases to me.

Bob Brinker commented on this Sunday and hoped they would quickly change this policy.
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If I wanted to buy $30,000 online, does that mean I have to enter 30 transactions?

Yes. It's really not that bad - takes maybe 20-30 minutes.

randyy
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If I wanted to buy $30,000 online, does that mean I have to enter 30 transactions?

Yes. It's really not that bad - takes maybe 20-30 minutes.


Oops, the 20-30 minutes is for 10 $1K purchases. Adjust accordingly for 30 $1K purchases.

randyy
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If I wanted to buy $30,000 online, does that mean I have to enter 30 transactions?

Yes. If you have a slow dial-up line as I do, stock your desk with snacks and beverages and prepare to spend the good part of an afternoon or evening there. The silver lining: it got me enough frequent flier miles for my next Spanish study trip to Mexico in January.

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Thank you everyone for responding, and so promptly too! This Board is a lot more helpful than http://www.publicdebt.treas.gov/ols/olshome.htm. Before posting my question to the Board, I first emailed them and this was their response.

We have received your Email at BuyBonds@bpd.treas.gov. Please know that
there is a very high interest in savings bonds at this time and our site
has a very high volume of customers.

We will respond to your message in approximately 2 business days.

Thank you for your patience.

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Yea, you have to do 30 individual purchases. I'd suggest opening a bottle of wine, pouring a glass (affixed with your favorite charm) and putting on some good music. Keep telling yourself "This is important".

I broke it up into 18K and 12K because I ran out of wine the first time.

nmckay
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Yea, you have to do 30 individual purchases. I'd suggest opening a bottle of wine, pouring a glass (affixed with your favorite charm) and putting on some good music. Keep telling yourself "This is important".

I broke it up into 18K and 12K because I ran out of wine the first time.


Didn't have any good wine, so I opened up another browser window and did other stuff while waiting for each response.
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The Student Investor #1 asked:


If I wanted to buy $30,000 online, does that mean I have to enter 30 transactions?


Hello Student,

The answer is yes, but it goes faster if you copy your credit card number into your buffer (mark with the mouse and then CNTRL-C) and place on the form out of the buffer (CNTRL-V in the blank spot). There is a risk though that the credit card transaction will not clear before the end of the month and you will end up with next semester's rates that might bring you $300 a year less in returns (but, no one knows what the new rates will be yet). Credit cards usually clear in 2 or 3 days according to Treasury people, but this may be a rush month for them because the I-Bonds appear to be such a bargain right now with the sudden drop in rates we've experienced in the last six months.

This late in the month it may be more reliable to go to the bank where you keep your $30,000 of ready cash and fill out one of their I-Bond request forms. Make sure they stamp it with the day's date and be sure you fill in that block on your application form. If I were you, I'd take this route even though you might loose bonus points or airline miles or whatever else your credit card offers you. Don't wait. Get to the bank Friday morning or Monday at the latest; or, use your credit card tonight. Also, say good-bye to a 5.9% state tax-free rate of return for government bonds. Most likely, you won't see that rate of return again for awhile.

-- John
25 October 2001 PM Thursday.
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