Convert Your Paper Bonds to Electronic

There are many advantages to converting a paper bond in to the electronic format. For one, there is less danger of physical loss of the bonds or damage due to fire or floods. The bonds too cannot be stolen if they are in the electronic format. Another great advantage is that you can check their status such as current values and interest rates online. This certainly makes for convenience. In order to convert your paper bonds into electronic format you will need to do the following.

Open a Treasury Direct Account

To open a Treasury Direct Account you need to furnish your name, social security number, address, savings account, email address, and web browser that supports 128-bit encryption. Apart from furnishing this information, you will need to submit a password as well as a password reminder, and other authentication information. The Treasury will then email the account number to you. You need both this account number and the password you choose to access your Treasury Direct account. Please note that there is no citizenship requirement to open this account. However, you will need an address and savings bank account that are in the US. Once you have a Treasury Direct account, you can proceed to the next step for converting your paper bonds into electronic ones.

Sort

Sort the bonds according to different co-owners and beneficiaries. Each set will have to have a separate registration.

Log On

Next, log on to your TreasuryDirect account and go to the Manage My Conversions page.

Register

Go to the Create My Registration List icon and click on that. Now enter all registration details for the various groups you have created by sorting.

Enter Bonds

Once the registrations have been created, you will have to enter details of the individual bonds you hold. You have to enter the series, denomination, and serial number. Here you can give additional information such as a name change or a misspelling on the bond.

Create a Manifest

Once you have entered the bonds, click on the Create a Manifest link. This will create a manifest that you can print out. Sign on this print out and mail the bonds and the manifest to the address given in the manifest. It is possible to enter up to 50 bonds in a manifest. One can print as many manifests as one requires.

Check Status

Now all you need to do is sit back and check the status of your conversions online. This will keep you informed in case there are any glitches in the conversion process. You can also view the value of your bonds and current interest rates in the online account.

These are the steps that you need to take to convert your paper bonds into electronic format. Future purchases can be made electronically. There are many other advantages of having the bonds in electronic format. You can invest any amount that you wish to, and redeem the bonds partially as well. All these features make electronic bonds the format of the future.

blog comments powered by Disqus
Scottrade