Treasury Services

Deadline nears for ending paper savings bond sales at financial institutions

December 2011

With over-the-counter sales of paper savings bonds ending on the last day of December, financial institutions are encouraged to continue preparing employees and customers for the upcoming transition to electronic savings bonds. Savings bonds are popular gifts, so your financial institution may see an increase in inquiries during the holiday season. As a reminder, your financial institution must stop accepting applications for paper bonds after December 31, 2011, but is encouraged to continue redeeming paper bonds for customers.

Treasury updates resources to assist financial institutions

The U.S. Department of the Treasury is offering new resources and materials to help financial institutions address customer inquiries and manage internal processes, including an updated set of Frequently Asked Questions (FAQs) (Off-site Link) that covers administrative topics. The Toolkit for Financial Institutions about the End of Over-the-Counter Paper Savings Bonds (Off-site Link) has also been updated with these new resources:

• Tip sheets for customers on how to set up a TreasuryDirect_® account to purchase electronic savings bonds and make gift purchases
• New statement messages and social media messages to remind customers of the approaching deadline
• Web banners for use on your website or online banking site

Also, please remind your customers that they can go to www.treasurydirect.gov (Off-site Link) where they can buy, manage and redeem electronic savings bonds and other Treasury securities online, 24/7.

 

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