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Paying For Treasury Bills

CAB
  |     |   5 posts since 2018

Most banks seem to have ACH limits of $2,000 to 10,000 per day. If I go to Treasury Direct and place an order for $50,000 in T-bills, will there be a problem? Do banks allow you to go over the limit to purchase Treasury's? Thank You.

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4


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Sylvia
  |     |   389 posts since 2012
Treasury Direct will pull the money from designated account so you'll not be subject to limitations that bank has for ACH's initiated w/them.
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CAB
  |     |   5 posts since 2018
Thank you Sylvia. This will be my first time doing this.
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Sylvia
  |     |   389 posts since 2012
My pleasure, CAB. When applying for an account with TreasuryDirect, you'll be asked for bank information. It can be either one of your checking or savings accounts.
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planxy
  |     |   140 posts since 2013
And plan to keep that bank account open for years to comer. Treasury Direct goes ape when retail customers change their checking accounts, requiring notarized validation forms etc. as proof. Also write down all numbers and alphanumeric strings for your account, it is even harder to prove yourself if any of them become lost, stolen, or even forgotten.
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GregoryInBelize
  |     |   193 posts since 2022
It was very simple to change a bank at treasury direct. Fill out the form and get a medallion stamp, send it in. It is only difficult if you can't find a medallion stamp. THEY DO NOT ACCEPT NOTARY STAMPS, because the are too easy to get and have no monetary guarantee.  Because of the popularity of I Bonds lately, most major banks have a person, if you are a customer. BUT, the process of changing bank accounts at TD was simple and easy. I have done it several times, never an issue. It normally takes 2-3 weeks.  Concerning credentials, a simple phone call (with a long wait time), is all it takes to get your information from the people at TD.  I purposely locked my account by answering security questions wrong.  I did this last week.  After 1 hr and 22 minutes on hold.   I was asked a few questions starting with my account number.  If you don't remember all your information,  no worries.  They ask a series of questions like the picture you chose on your login page, what types of accounts you have, any security questions you have, etc.  In the end, the phone call, once answered, took all of 5 minutes.  Easy Peasy...
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111
  |     |   672 posts since 2019
GregoryG's comment brings to mind the point that of the decreasing number of reasons to keep at least one account with a major (or perhaps regional) bank open - ideally one with a local branch near where you live - one which remains is the occasional but important need for a medallion guarantee stamp. Particularly if you live outside of major metropolitan areas. Some aspects of this process are much more efficiently done in person at a bank branch.
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milty
  |     |   1,676 posts since 2018
Regarding treasury bill ownership are they limited to two owners (primary and a co-owner or primary and a beneficiary) similar to I-Bonds?
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Sylvia
  |     |   389 posts since 2012
“Your electronic savings bonds and Treasury marketable securities may be registered in your name alone, your name with a secondary owner, or your name with a beneficiary. Each registrant's taxpayer identification number must be shown. Note: Registrations in entity accounts may not name a secondary owner or beneficiary. All securities in an entity account carry a registration identical to the entity account name.”


https://treasurydirect.gov/indiv/help/treasurydirect-help/how-do-i/  See “How do I add a secondary owner or beneficiary to my securities?”
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