Transferring funds into TreasuryDirect

Thursday, August 10th, 2006
Categorized as: Treasury Direct

Is there a way to set up an electronic bank transfer from a mutual fund account to a TreasuryDirect account? I tried setting this up on the TreasuryDirect site, but was unsuccessful. I also called my mutual fund company, but the individual I spoke to was not familiar with TreasuryDirect.

Tom’s response

From within TreasuryDirect you can only connect to bank accounts, so you can’t transfer funds from your mutual fund account that way.

However, from within your mutual fund account, TreasuryDirect can be treated as if it were a bank account. The company you’re dealing with just needs to know the routing details. Often you can enter these on a form on the company’s web site:

  • Receiving bank name ? TREASURYDIRECT (All caps, no spaces)
  • ABA or Routing Number ? 051736158
  • Account Number - Your 10-digit TreasuryDirect account number

Inside TreasuryDirect, the funds you transfer will be invested in a Zero-percent certificate of indebtedness, so you have to enter a TreasuryDirect transaction to move them into the security you actually want.

Because it doesn’t make sense to hold money in a zero-percent C of I other than temporarily, TreasuryDirect limits the amount you can transfer from a bank into a zero-percent C of I from within TreasuryDirect to $1,000 per transaction. However, when transferring money into TreasuryDirect from an outside account there’s no limit.

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One Comment

On August 10th, 2006 Mario said:

Tom, on a related note, have you noticed the new logon procedure for TD, and miscellaneous other enhacements? Looks like they are finally listening to their customers about security!!

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