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Re: Treasury Direct -- can't get my money out
Old 06-29-2006, 08:04 AM   #21
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Re: Treasury Direct -- can't get my money out

Thanks Cut-Throat & Gerald. That was very helpful.

It also makes perfect sense. I always wondered why it seemed like the reported interest was less than I expected on those bonds - evidently because of the three month hold on the interest.

I have Sept I-bonds, so I guess I should hold until Nov 1st.

Also, right now, I can't see them selling too many savings bonds given the T-bill, CD and MMA rates. I would think they will have a lot of redemptions coming if people are paying attention.
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Re: Treasury Direct -- can't get my money out
Old 06-29-2006, 08:17 AM   #22
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Re: Treasury Direct -- can't get my money out

We ran into a similar problem after we switched to online banks - Vanguard or Fidelity required us to get a signature guarantee but no local bank would do that for us.
Now we keep around $250 in a savings account with a local credit union. They're happy to sign whatever we bring in and it only costs us a few dollars a year in lost interest payments. Plus, it gives us a place to take the occasional jar of loose change.

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Re: Treasury Direct -- can't get my money out
Old 06-29-2006, 08:45 PM   #23
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Re: Treasury Direct -- can't get my money out

Quote:
Originally Posted by sc
required us to get a signature guarantee but no local bank would do that for us.
That's curious. I was visiting Grants, NM a couple of months ago, and I had the paperwork from TD to transfer some of my Legacy Direct accounts to Treasury Direct, which required a signature guarantee.

I drove down main street (the old Route 66) saw a bank, went inside, told the bank officer what I needed, and a few minutes later the document was stamped. No charge.
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Re: Treasury Direct -- can't get my money out
Old 06-30-2006, 08:39 AM   #24
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Re: Treasury Direct -- can't get my money out

Banks/Credit Unions are getting pickier about signature guarantees. I think it is all the patriot act stuff.

I would try what LOL suggests and open an account or two.

Otherwise, print out the stuff you got from Treasury Direct, find some lawyer in town who knows the judges to walk you directly up to a judge to get your signture certified. Skip the administative staff.
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Re: Treasury Direct -- can't get my money out
Old 06-30-2006, 09:14 AM   #25
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Re: Treasury Direct -- can't get my money out

Quote:
Banks/Credit Unions are getting pickier about signature guarantees.* I think it is all the patriot act stuff.
At least with stock transfers, it is about preventing fraud. Good thing for folks that want to protect their assets. And OP, I dont know how you can get by without a credit union membership at least. How do you get cash and quickly deposit your checks. There really is little to fear with a credit union...I have had great service with the 2 that I have used...banks on the other hand are there to drain you with fees :P
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Re: Treasury Direct -- can't get my money out
Old 07-03-2006, 02:14 AM   #26
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Re: Treasury Direct -- can't get my money out

I have learned to hate the Medallion Stamp BS. :
I use my credit union for this and have had only a few issues with doing it...mostly the branch manager is the only one allowed to do it. She knows me pretty well by now so I have no problems now. Since I carry over 6 accounts there with various subaccounts they tend to show a little more customer service than they used to.

I went the major bank and financial institution route for the stamp and it was usually "what is your account number? Oh, you don't have an account with us..I'm sorry this is a service only for bank customers."

The only difference I have seen between a Notary and a Medallion stamp is the higher quality of BS with the Medlallion stamp process. The same IDs are allowed by both but since an "institution" rather than an "individual" approve of who you are, the institution has more credibility and this gives financial institutions more trust in the correct ownership of whatever is getting the Medallion treatment. Don't like it....but what else are you going to do?
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Re: Treasury Direct -- can't get my money out
Old 07-03-2006, 03:27 PM   #27
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Re: Treasury Direct -- can't get my money out

Banks around here will do this for account holders of 6-24 months. I've been to three different banks and the courthouse. Looks like I may have to wait 6 months while my cash sits in an account earning 0.5% (it's not an emergency so I don't want to hire a lawyer to help me).

I called treasury direct and told them about the situation. I'm hoping that they can call the court and tell them what to do, or make an exception since the account I'm using to move funds out is the same account that I used to move the funds in -- so there's no chance of fraud.
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