wabmester
Thinks s/he gets paid by the post
- Joined
- Dec 6, 2003
- Messages
- 4,459
I went to my bank, got a few i-bonds out of my safe deposit box, and cashed them in (due to the low real rates and new inflation adjustment). Simple, right?
The bank employee left her master key with me after taking me to my box. I resisted the urge to see what other boxes I could open.
She then redeemed my i-bonds as ee-bonds. I caught the error, and it took a while to unwind the transaction (seems like it involves a wire transfer from the Treasury or something).
Then she wanted to redeem the bonds for just the interest. I told her I wanted the principal, too.
Then she was about to give me the redemption value + the accrued interest (double-counting the interest). I thanked her for the bonus offer, but then showed her the right amount to give me on her print-out.
My bank teller was cute, but not that bright. I'd hate to think what would happen if I were dead and my wife or kids had to cash out those bonds at the bank. Savings bonds are supposed to be risk free, but there's always the Dumb Bank Teller risk, I guess.
The bank employee left her master key with me after taking me to my box. I resisted the urge to see what other boxes I could open.
She then redeemed my i-bonds as ee-bonds. I caught the error, and it took a while to unwind the transaction (seems like it involves a wire transfer from the Treasury or something).
Then she wanted to redeem the bonds for just the interest. I told her I wanted the principal, too.
Then she was about to give me the redemption value + the accrued interest (double-counting the interest). I thanked her for the bonus offer, but then showed her the right amount to give me on her print-out.
My bank teller was cute, but not that bright. I'd hate to think what would happen if I were dead and my wife or kids had to cash out those bonds at the bank. Savings bonds are supposed to be risk free, but there's always the Dumb Bank Teller risk, I guess.