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Converting Paper Bonds To Electronic Versions

Thursday, August 16, 2012 - 10:01 AM
People with paper savings bonds who want to keep track of them can use the government's Treasury Direct website to determine the current interest rate they’re paying, their redemption value and the date they stop earning interest. 

If you have only a couple of bonds, one option is to enter the information manually each time.  A second option, to create an inventory online, gives you updated information regularly with just a few clicks. 

A third option is to convert the paper bonds to electronic ones which allows you to redeem them online and conveniently have the the funds deposited electronically in your checking or savings account.  Unfortunately, the convenience comes at a price, and hasn't been heavily promoted because it involves significant manual work for both the bondholders and the Treasury Department.  This NYT article presents one bondholder's experience with the third option. 
6
pearlbrownpearlbrown1,430 posts since
Nov 2, 2010
Rep Points: 6,246
1. Thursday, August 16, 2012 - 11:03 AM
Coincidentally, today we attempted to change the registration of my Dad's I Bonds at Treasury Direct to POD accounts. No problem with the bond he originally purchased electronically; BUT, there seemed to be no way of doing the same for the three paper bonds that he converted to electronic bonds back in March. He doesn't want to sell them, but the prospect of having to go through probate is unattractive.
3
WilWil242 posts since
Feb 26, 2010
Rep Points: 1,281
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