Series I U.S. savings bonds are paying 7.12%

In my case, I had no problem at all setting up the account; like I said I set it up years ago. But apparently if you need to add a new bank account for electronic funds transfers they always require filling out this form and having it validated by a bank. They say it’s for “security reasons”, but I have never had to do anything even remotely this complicated to set up electronic funds transfers for anything else, including paying my taxes.

I’ve had to do this recently for a corporate Fidelity account to set up wire transfers for a new bank account (actually, for the same old bank account, but I discovered the account number initially set up with them 4 years ago was off by a digit). It didn’t have to be done when the account was initially set up.

No, we never received any acknowledgement. We even used their contact form to ask about the status and got this response (shortened):

Now I’m thinking they lost the form. What a freaking hassle. Now we have to print again and go to the credit union. Again. Grr.

Speaking of this restriction, does this mean that if I bought $10,000 bond in December, I could then buy another one in January? My understanding of “calendar year” is Jan-Dec.

That was how I understood it, and it was what I had intended to do if it weren’t for the fact that it took the Treasury until January to process my paperwork.

Ouch. I bought my wife’s in late December, but it cleared prior to the end of the year.