I have searched old I-Bond threads and cannot find an answer to my issue, so here is my problem. I hope someone has a good suggestion for me.
My wife and I submitted the redemption forms for our I-Bonds electronically on June 17. We discovered that we closed the bank account (money market) about a year ago that we used for the original deposits that were made in December of 2020 and January of 2021. We still bank with the same institution but just do not have the original account active.
Treasury Direct instructed us to get Medallion Signatures for our current checking account where we wanted the I-Bonds $ deposited.
Our bank account is now correct on the Treasury Direct site. However, they are telling us that since our original account is no longer in use, we will not see our money for up to 12 months from our original redemption date of June 17.
I have made 2 phone calls (30-60 minutes per call) trying to find out why/how they can hold up our money when we have submitted Medallion Signatures and all the account information is currently correct. The only answer I can get from them is that they are understaffed and will get to it when they get to it. They have assured me that we will have our money ($45K) by June of 2025.
This is very frustrating. Does anyone have any sage advice for us?
Thanks in advance.
My wife and I submitted the redemption forms for our I-Bonds electronically on June 17. We discovered that we closed the bank account (money market) about a year ago that we used for the original deposits that were made in December of 2020 and January of 2021. We still bank with the same institution but just do not have the original account active.
Treasury Direct instructed us to get Medallion Signatures for our current checking account where we wanted the I-Bonds $ deposited.
Our bank account is now correct on the Treasury Direct site. However, they are telling us that since our original account is no longer in use, we will not see our money for up to 12 months from our original redemption date of June 17.
I have made 2 phone calls (30-60 minutes per call) trying to find out why/how they can hold up our money when we have submitted Medallion Signatures and all the account information is currently correct. The only answer I can get from them is that they are understaffed and will get to it when they get to it. They have assured me that we will have our money ($45K) by June of 2025.
This is very frustrating. Does anyone have any sage advice for us?
Thanks in advance.
Statistics: Posted by JOEVANDAL — Fri Sep 20, 2024 8:28 pm — Replies 0 — Views 35