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Subject:  I Savings Bonds Date:  10/6/2000  12:52 AM
Author:  reatta93 Number:  25319 of 90457

Hello everyone. Long time lurker, but first time poster. I have learned a great deal from every poster to this board, so thanks.

My DH and I went to our bank today to purchase some I Savings Bonds. Since we only have a small balance checking account, I wanted to write a check for all the bonds from a money market account (out of state bank). Two different people (managers were not in the bank at the time) told us we would have to deposit the money in our checking account and wait for 10 days and then fill out the forms and write the check. When they pulled out the file they quoted as a rate of 6.18% --everything in the file was over 1 year old. Current rate is 7.49%.

Has anyone else gone through this? If memory serves me right, last time I bought a Series EE Bond the check wasn't made out to the bank but to the Feds.

The Feds web site says you can purchase I Savings Bonds at most banks, credit unions, and savings institutions and that they FORWARD everything to a Federal Reserve Bank. Nothing was said who to make the check out to.

Thanks in advance.


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