Comments on: Inflation update of January 2012

by: Tom Adams

Thu, 27 May 2010 18:13:31 +0000

Steven - The questions you need to ask yourself center on how long you intend to keep the money in Savings Bonds and what you expect to happen during that whole period, not just the part now coming up over the horizon.

Tom Adams

by: Steven

Thu, 27 May 2010 01:18:23 +0000

Tom:
The I-bond fixed rate is currently 0.20% and the inflation rate is declining. Some commentators have said that we may see deflation if the economy slides back into a recession. Deflation will wash out the I-bond's fixed rate, and cause the total return to go to zero.
Do you think that the series E bond, with its fixed interest rate, is a worthwhile investment in this environment?

by: Tom Adams

Mon, 24 May 2010 14:27:53 +0000

Rich and Mary Ann - It's hard for a reason - to keep someone who has secretly gotten your password info from changing the bank account your TD account links to and draining your TD account.

On the other hand, I suspect if you call an internet-only bank like USAA and ask how to link a TD account with your bank account, that the bank will have a process for this. Surely USAA isn't going to tell all its customers that they can't link a USAA account to a TD account.

Tom Adams

by: Mary Ann

Mon, 24 May 2010 04:27:55 +0000

I opened a TD account about three years ago. At the time, it was relatively simple to enter my local checking account info on the TD website. I had a fall-out with my local bank and switched to an online checking account. Overall, the online checking account is much better (USAA Federal Savings), but I ran into two problems in regards to savings bonds purchases. 1) You can not purchase paper bonds from an online bank. So, I opened a checking account at a different local bank for the sole purpose of buying paper bonds. 2) You can no longer change your checking account info directly on the TD website. You have to print out a form and fill in personal info including account info and SSN. Then you have to take the form to your bank to have a high-ranking bank official verify your identity, sign it, and put an official stamp on it. I do not remember the official's title, but a notary public is definitely not acceptable. Obviously, an online bank can not preform this service. Luckily, I had already opened the local account to buy paper bonds, so I was in that system. The high-ranking official does not work at my regular branch, so I had to go to a different branch. The high-ranking official only worked during the day, so I had to take some time off from work. Ironically, when I got there, the high-ranking official was too busy and asked the regular teller to do it. I was extremely uncomfortable putting the form containing all of my personal info, account info, and SSN in the mailbox. In the end, I did get both my local and online checking accounts into the TD system using one form. It seemed like a lot of work to verify the identity of someone who was already purchasing online bonds on a regular basis.

by: rich

Sat, 22 May 2010 14:39:34 +0000

You also couldn't attach your bank if it's an internet only bank or if they only have branchs out of state.

by: rich

Sat, 22 May 2010 14:29:24 +0000

I tried a couple credit unions where I live (1 local, 1 national). They told me they ONLY sign paper stocks/bonds or their own bank forms. They say they're insured & bonded… liability risk… blah blah. Maybe if the US Treasury Dept would send a general memo to all banks saying their form is legit, it would be easier. I hate to "bank hop" just for this.