Many people like to buy U.S. Savings Bonds as gifts for loved ones. However, you can no longer buy Savings Bonds on paper from your bank. As a cost saving measure, these bonds must now be both purchased and given electronically. During the process, you get the chance to print out a certificate to physically give the recipient.
This video presentation walks you through the details of buying U.S. Savings Bonds as a gift. Below are some of the basics about the process.
- You must create an account with the website TreasuryDirect. TreasuryDirect was created by the U.S. Treasury as a place to buy and redeem U.S. securities. To create this account, you will need to have on hand:
- Your Tax ID Number (SSN or EIN)
- Your e-mail address
- Your bank account and routing numbers
- You will need some information about the recipient of the gift:
- His or her full name
- His or her Tax Identification Number (SSN or EIN)
- In order to receive your gift, the recipient will need to have their own TreasuryDirect account. If the recipient is under 18, a parent will need to create a Minor account for the child.
- Once your recipient has an account, ask for their account number. You will use this number in TreasuryDirect to send the gift to his or her account.
- You can also fill out and print a gift certificate to mail or present.