So we’ve got a new baby in the family (my nephew), and I’m going to buy him a savings bond.
I checked with my bank (Chevy Chase, here in Maryland), and they charge half the face value of the bond. So a $100 bond would cost a total of $150.
Anyone know of a better place to get them? I assume you can walk into any bank and buy one - though banks seem to hassle people more if they don’t have accounts with them. 
If you’re referring to U.S. savings bonds, you can buy them online
http://www.publicdebt.treas.gov/ols/olshome.htm
That’s the kind I mean. I should have checked the government first, I suppose, but I didn’t think of it. Thanks.
A $100 series EE bond would cost $50, not $150…
But look at the series I bonds, they are sold at par, or face value and have a fixed rate of interest plus a variable, inflation indexed rate which is adjusted every 6 months. They’ve turned out to be a pretty good deal as far as savings bonds go.
Yeah, the bank doesn’t charge you anything to buy them, as Tedster pointed out. At least mine doesn’t. They
have to send out for them then they come back to you in the mail.
Mine does. I asked them, and they said the fee was half of what the face value of the bond was, so that a $50 bond would cost $100. I don’t have their email here in front of me, but I could have sworn that was the example they themselves used. But in any event, buying them online - which I can’t do through my bank - is a great way to go, since they’re a gift.
“The fee was half… the face value of the bond…”
No. EE bonds are sold at half the face value of the bond. No way could they get away with that, Dantheman. You must be mistaken, no?
Maybe. Sure sounded expensive - you mean that for a $50 bond, they should be charging $25?
Hm, that’d be a lot better than through the gov’t site, which is face value. Thought maybe the banks were trying to make some money off the things. I’ll check the email again when I get home - I’m not at that PC.
You are getting screwed and should report them!
From: Savings Bonds–An Easy Addition to Your Financial Services Portfolio
Source: http://www.frbservices.org/treasury/pdf/savingsbondbrochure.pdf
Best you start at http://www.savingsbonds.gov/ and see for yourself!
I thought that bit about your bank charging was bizarre too. I know that there are different types of bonds, but if banks charged the fees you described, there would be no point in buying the bond. I buy them because even though the interest kinda sucks, they are a great way of “out of sight out of mind” saving while I am still in college. I have never been charged a fee whether online or at the bank.
Depends on the type of bond. I bonds are sold at face value, EE bonds are half of face value.
I’m pretty sure I misinterpreted the email - I’m not used to buying something for less than its face value, y’see. I don’t buy these bonds often. In fact, not at all. My best bet is that the bank’s charging, say, $50 for a $100 I-bond.
Well wouldn’t you know it. Hmph.
In other words, exactly what you guys have been saying. Teach me to skim through an email, assuming something. Hmph. Could have saved everyone a lot of posting. Sorry 
All is forgiven, providing the first bond your purchase is for me! 
This is the part where I make a smiley that says, "Ha, ha, of course I will, you bet your ass, yepper… "
This is the part where I make a smiley that says, "Ha, ha, of course I will, you bet your ass, yepper… "
I heard ya the first time!