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Online savings bond sales through Savings Bonds Direct will end
Just a FYI-
Online savings bond sales through Savings Bonds Direct will end December 30, 2003, at 3:00 pm EST. |
This is very sad news to me
http://www.flyertalk.com/forum/frown.gif http://www.flyertalk.com/forum/frown.gif http://www.flyertalk.com/forum/frown.gif http://www.flyertalk.com/forum/frown.gif I was sad in February when the holding period went from 6 months to one year. Now I am VERY SAD - This was my primary way of getting miles. |
This topic has nothing to do with DL. Traditionally this type of thread has been posted on MilesBuzz. Therefore, that is where I am moving it.
Rssrsvp - Moderator [This message has been edited by Rssrsvp (edited 07-31-2003).] |
That probably means no purchases for calendar year 2004. Very sad indeed.
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Very old news. There are already several threads mentioning this.
Kathy |
I was hoping that I can buy more bond in early 2004, but according to
http://www.publicdebt.treas.gov/ols/olshome.htm "Online savings bond sales through Savings Bonds Direct will end December 30, 2003, at 3:00 pm EST." Sad. |
At least they gave lots of warning. I'm kind of near my annual mileage earning cap on my AAdvantage MasterCard. What I plan to do is buy some last I Bonds after December 16th, but before December 30th. Those won't be billed until my January statement, thus in a new mileage earning year. But, me too, am sad to see it go, since it was also a major mileage earner for me.
Of course, there is always hope that with the President Bush massive budget deficits, that the Treasury might all of sudden decide they need to borrow money at any cost, and might continue credit card purchases. Not likely, but who knows.. [This message has been edited by burgerwars (edited 08-02-2003).] |
In a possibly interesting turn of events (for those who care about such things - I obviously can't buy US bonds...) the Communications of the ACM (July 2003) is reporting that the US Treasury will stop selling paper bonds in 2004 'requiring all purchases to be made exclusively online'.
Quite how this will be accomplished, except with payment cards, is unclear! [This message has been edited by NickW (edited 08-08-2003).] |
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by NickW: [B]Quite how this will be accomplished, except with payment cards, is unclear! B]</font> |
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by ec336: In the US, we can have funds from our bank accounts electronically wired to make purchases (EFT, or electronic funds transfer). This is how many of us pay our credit card, and many other bills online. Generally there is no charge for this on either end (buyer or seller, provided it is done through the automatic clearinghouse system). I believe this is how the Treasury plans on selling the bonds electronically and only online: through fund withdrawals from bank accounts, and not through credit cards.</font> Never a big topic of discussion on FlyerTalk, since there is no mileage-earning opportunity for doing electronic funds transfers. http://www.treasurydirect.gov/ Kathy |
<font face="Verdana, Arial, Helvetica, sans-serif" size="2">Originally posted by KathyWdrf: Not just PLANS ON, but is doing, has done, and for quite some time I believe!!! Never a big topic of discussion on FlyerTalk, since there is no mileage-earning opportunity for doing electronic funds transfers. </font> I also agree that there is little mileage interest in this (because of no mileage)... My response was just to clarify the UK poster's question. |
What if the purchase is made on December 30? The Savings Bond system still takes credit card, but most likely, the issue date will be January 2004. That should count towards the $30k limit for 2004, right?
http://www.publicdebt.treas.gov/sav/sbdfaq.htm <font face="Verdana, Arial, Helvetica, sans-serif" size="2"> Q: If I buy a bond at the end of the month, what issue date appears on the bond? A: The issue date of your savings bond indicates the month and year the bond starts earning interest. It's printed in the upper right hand corner of the bond. Usually, if you bought a bond during the month of February 1999, the issue date printed was "February 1999" on the bond. However, if you buy the bond at the end of the month, your bond's issue date may be the following month. For example, if you bought a bond on February 28, 1999, your bond's issue date was March 1999. The savings bond issue date is determined by the date we receive funds from the credit card association. </font> [This message has been edited by jsy9999 (edited 08-12-2003).] |
The probable reason for a cutoff mid-day on December 30 rather than midnight December 31 is to ensure that only 2003 savings bonds are issued. The web site will likely confirm this toward the end of December.
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I opened an account w/ Tresury Direct and it does not give you the option of purchasing with a credit card. Have they already discountinued this practice or am I missing something ?
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Use Savings Bond Direct rather than Treasury Direct -- I bought bonds there Monday using a credit card.
www.publicdebt.treas.gov/ols/olshome.htm and choose "Go Shopping". |
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