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I Bonds SNAFU

Kaight
  |     |   1,192 posts since 2011

This is likely appearing too late to help many people. I'm sorry.

Right or wrong I waited until today (1/27) to buy my first tranche (the $10,000 e-tranche) of I bonds. I had it in mind to take advantage of their new and widely hailed "add a new funding source online" feature.

WHAT WAS I THINKING!

The add a new funding source online feature did not work for me. Checked Boggleheads. Others are experiencing this same TreasuryDirect failure. Very fortunately my original source of funds remains available to me and I was able to place my I bond order timely. But the funding will not be as I had planned and anticipated.

Were I smarter I would have sought to add the new funding source days or weeks ago. Maybe it would have worked back then. I dunno. It did not work for me today.

So don't log into TreasuryDirect assuming, as I did, their widely heralded and praised add a new funding source online feature is gonna work. It might. But then again it might not.

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17


MY2CENTSWORTH
  |     |   440 posts since 2016
Thank you for taking the time to pass along the info pertaining to your experience.
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MineSweeper
  |     |   68 posts since 2021
I add the same issue and called Treasury Direct - about a 20 minute wait and I used the call back feature. The rep called me back and asked me a password reset question. He was then able to add the second funding source in about 5 minutes. I would call Treasury Direct and they should be able to resolve this issue for you
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6
Choice
  |     |   937 posts since 2020
Workarounds are neat …But, the problem with TD is? No acknowledgment of an issue? Timeframe for resolution?
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2
JeffinEasternFL
  |     |   744 posts since 2020
after all it is (our) the government...bloated, inefficient, BROKE!
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3
Choice
  |     |   937 posts since 2020
Don’t bite the hand that feeds you!
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1
w00d00w
  |     |   360 posts since 2012
good to know...don't add new bank/CU account to Treasury Direct and try to use it same day
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3
LongTimeDAFan
  |     |   69 posts since 2022
Kaight, is this just for a new funding source, not changing your linked funding source? I haven't seen anything about this yet, so am wondering if they've changed from requiring a mailed in, medallion signature to change the linked account. That seemed like a real PITA to me, but also made me feel it would be much, much harder for someone to hack my funds.
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3
NFO
  |     |   66 posts since 2022
@LongTime...

Changing funding sources is a royal PITA...ask me how I know. It's also overkill. Logging into Treasury Direct is the digital equivalent of getting into the White House.

Even though the instructions said a court clerk could do it, neither the local municipal or superior court would touch it. Chase wouldn't do it without sending it to some kind of committee. I ended up driving ~100 miles to the nearest Navy Federal branch.
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2
GregoryInBelize
  |     |   193 posts since 2022
When I needed to change funding sources last year. I found it very easy. Just needed a form completed by a bank officer with a medallion stamp. Sent it to them registered mail and the changes were completed within a couple weeks. Easy Peasy.
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Kaight
  |     |   1,192 posts since 2011
LTDAF:

As I wrote in the OP, I was not successful getting the new "feature" to work when I needed it. However:

My best understanding, unfortunately for me not based on personal experience, is that need for a medallion signature has been cast aside. That at least when the new feature actually works. You can log into your TreasuryDirect account and play around with the feature to get a feel for it and to learn of the new feature's limitations.
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Kaight
  |     |   1,192 posts since 2011
In the spirit of "all's well that ends well" just want to document here that I was able to secure my I bonds, the first tranche earlier mentioned in the OP, without additional drama or complaint. I'm very pleased with the I bonds and happy to have them.

Now am focusing on obtaining my second, and for me final, tranche of I bonds, the $5000 worth of paper bonds. That quest is in progress and everything is on course and going to plan as I write this.  Emphasis at present is on the April 30 deadline since I want the current 6+% interest rate for the first six months.
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