Looks like Treasury Direct is planning huge changes

[JoeWras]

I recently got a "survey monkey" request from Treasury Direct.

They said:

The US Treasury is building a new experience for customers to purchase and manage government securities and is seeking input on the experiences from current customers. If you are interested in participating in research that will inform and improve the future of purchasing government securities, please take this brief survey “Migrating to a new platform”, through SurveyMonkey

I took the survey and it is very focused on the migration process. They did ask a free-form question though: "What features would make it worth migrating from TreasuryDirect to a new Treasury supported platform?"

I gave them some ideas.

Later, though, they asked this question: " Imagine the following pieces of information do NOT transfer from TreasuryDirect to the new platform. How would you feel?"

I think this is a window into what they are considering. For example, there were questions about how I'd expect bank accounts to be linked, and what to do with the "C&I" (which is the zero percent account).

The migration sounds like it may be messy. A few things they ask about were:
- Familiarity with ID.me
- How would I "feel" about having to re-enter bank links
- Same for beneficiaries
- How much history should migrate
- and a few other things

It really looks like they want to get rid of C&I, and I presume have some direct link to the bank account.

One more thing. They had a separate question asking how I'd feel if they migrated everything except savings bonds.

It should be interesting when it happens, for a few reasons. 1) It is the government, 2) The current site is so old, anything new has to be drastic difference which will always cause a kerfuffle, even if the new site is better.

As much as I could, I made it clear I don't want to have to mess with their ridiculous process for adding bank accounts. Either transfer it over, or make it easy.

 

[Tom52]

I have no idea what changes to Treasury Direct will do but I suspect it will be to my detriment. My memory is hazy but I recall a number of years ago I had capability to input my paper I Bond serial numbers, then I could have an update when I looked on the TD website that would give information about each I Bond including monthly interest earned, total interest, current interest rate on each I Bond, etc. It was a pain to initially input the serial numbers on 142 I Bonds

Then after a few years they made changes to Treasury Direct and I could only get this information by using some sort of external file with all my I bonds listed and have it linked to the TD website. Of course I had to reenter all the serial numbers for each of my paper I Bonds. What a pain.

I suppose now they will eliminate this all together to force people with paper I Bonds to convert them to electronic to be able to check monthly earned interest. I am just not comfortable mailing in $250,000 worth of I Bonds.

 

[JoeWras]

Yeah, Tom, I suggested they have to do much better with basis and value on all security types. What they have now is a disgrace.

You bring up another point, though, about paper bonds. I didn't think of that.

It sounds like they are going to probably split into a bond site, and a marketable security site. Here's hoping they improve the bond site? One could hope, right? I suspect not.

Personally, I'm not buying any more marketable securities at TD. I'm letting them mature then transfer the proceeds to Fidelity and buy the marketable there. IBonds, of course, stay at Treasury Direct.

 

[FLSUnFIRE]

Interesting. I don't use it for any current transactions other than to check the balance of my iBonds bought years ago. It would be nice if they'd combine the "converted bonds" and the regular account into one though. Sort of stupid and annoying to not have one page to see everything!



If it happens I hope it's better than the new TSP site. While there are more features I find I have to click so much more -or scroll to get to what I want to see on the new site there. Same for Vanguard's updated app and web interfaces. Really wish they'd fix the back end and keep the user experiences easier.

 

[Midpack]

Interesting. The current site has been workable, but ripe for an update. I guess we’ll see.

 

[audreyh1]

I like these older simple sites. I wish they wouldn’t change a thing.

I better make a copy of all our accounts info.

 

[MarieIG]

I like these older simple sites. I wish they wouldn’t change a thing.

I better make a copy of all our accounts info.

Good idea.

 

[easysurfer]

I think the last of my remaining EE bonds purchased when working for Megacorp mature for me this year. After that, I have no plans to use Treasury Direct and their "improvements".

 

[schenbew]

I hope they don’t use the company that “improved” the TSP website; that was an absolute disaster in my opinion.

Do agree the site could use an update.

Fingers crossed…