question on redeeming I Bonds

Discussion of the Cash portion of the Permanent Portfolio

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cabronjames

question on redeeming I Bonds

Post by cabronjames » Thu Jun 30, 2011 9:41 pm

I've never bought I Bonds before, but am considering in the future as a portion of the future emergency cash, with the understanding that the bond bought today is not redeemable until 11+ months later.

Assuming one had bought I Bonds, and had them converted to electronic form if they were originally paper form, or they were originally in electronic form.

what is the process like to redeem said I Bond into cash 11+ months later?

I imagine you can set up an ACH from the Treasury Direct account website, to one's local credit union/bank.

If so, does one merely login to Treasury Direct, "sell" whatever portion (or all) of the relevant I Bond(s) online?

How many banking business days does it take for these funds to appear in your liquid credit union account?

Is this "ACH from Treasury Direct process" the fastest way to redeem I Bonds?  If not what is the fastest process?

Would love to hear the actual experience you had in redeeming the I Bonds, & how many business banking days it took to complete the process.

Thx again.
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smurff
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Re: question on redeeming I Bonds

Post by smurff » Sun Jul 03, 2011 9:17 am

I use paper bonds so my experience may or may not apply.  I simply have taken the bonds to the bank, approached a teller with bonds and ID, and cashed them, like a check.  I could then deposit the cash in the bank second later. No wait no muss no fuss. Which is why I like paper bonds anyway.
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