Savings Bond as a child gift

[eryx]

I want to give savings bonds as a gift to my nephews this christmas. They are all under 10. I'm thinking the amount is about $200; perhaps I will just keep doing this every christmas.

A few questions: I know I will have to open a treasury direct account. From this, can I purchase the bonds in their own names, and then receive the actual certificates which I can then send to them? Or will the minors need to open up there own treasury direct accounts too.

Also, there are many different types of savings bonds...any recommendation on which type to purchase?

Thanks!

[Robert the Red]

I don't think you can get certificates from a Treasury Direct acct. You can get them if you buy the bonds directly from a bank.

[OAG]

Check out the Treasury Direct Site TreasuryDirect as I am sure your questions can be answered there. You can also call them. I did this for years but have not done it recently and I am sure the procedures have changed. Personally, the amount of money involved for my 9 grandkids was never going to make much of a difference for them so I just sent a Check. They can bank it or spend it as they and/or the parents decide. Much simpler and less hassle for everyone (IMHO).

[clifp]

I did this for a number of years. I think this is something that Mom appreciates more than the kids, but I personally prefered to writing a check.

Basically while purchasing the bond you include your nephews name and SSN and I think you have to do it at bank.