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Introduction
Public Debt�s U.S. Savings Bonds EasySaver™ Plan was introduced in November
1998, and offers people a way to sign up for automatic savings bond purchases.
EasySaver isn't a replacement for the sale of savings bonds through the
financial agent community that has provided this service for many years.
Public Debt will continue to direct savings bonds customers to their
financial institutions as it has in the past. The EasySaver program is
specifically designed for those customers who want to participate in a
systematic, recurring bond purchase plan, but don�t have those options
available to them where they bank or work.
We're providing the following EasySaver information and answers to common
questions to assist you and your staff with inquiries.
Questions and Answers
- What is the EasySaver Plan?
- Why is this new way to buy savings bonds being
introduced?
- What is the financial institution�s role in EasySaver?
How should EasySaver questions be handled?
- How does EasySaver work?
- Who can participate in EasySaver?
- Will financial institutions receive a supply of
EasySaver enrollment forms to distribute to their customers?
- What should be done if a savings bond doesn't arrive?
1. What is the EasySaver Plan?
EasySaver is a new way to buy U.S. Savings Bonds on a regular, recurring basis.
The customer submits an enrollment form to the U.S. Treasury Department to
select the amount and frequency of the bond purchases. After that, savings
bond purchases follow the schedule provided by the customer. The bonds are paid
for by an electronic transfer of funds from the customer�s bank account via an
Automated Clearing House (ACH) debit. Approximately two weeks later, the
customer receives the bond in the mail.
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2. Why is this new way to buy savings bonds being
introduced?
The Treasury Department is offering EasySaver to provide more Americans a
convenient, simple way to save regularly. About 120 million Americans
have no convenient way of buying savings bonds in a systematic, recurring
manner. EasySaver allows customers to buy savings bonds for personal savings
in the amounts they want and on the schedule they choose. Banks will continue
to be the primary source for selling savings bonds to the public.
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3. What is the financial institution�s role in EasySaver?
How should EasySaver questions be handled?
If your customers are interested in a regular method to buy savings
bonds, we encourage you to promote your institution�s savings bond purchase
options as part of your relationship with them. Customer requests for
EasySaver information should be directed to:
EasySaver Resources
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4. How does EasySaver work?
Customers submit an enrollment form before purchasing bonds through EasySaver.
This form is available by calling toll-free, 877-811-SAVE. Customers can also
enroll online, download the form, or write to:
U.S. Savings Bonds EasySaver, P.O. Box 802, Parkersburg, WV 26102-0802. A
photocopy of the form can be submitted, but it must have an original signature.
Treasury debits the customer's account on the day specified and mails the bond(s)
to the customer or to the person designated.
An EasySaver account may be canceled at any time (at no charge). To cancel,
customers can call the toll-free number shown on their confirmation notice or
send a written request to U.S. Savings Bonds EasySaver Plan, PO Box 85003,
Richmond, VA 23285-5003.
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5. Who can participate in EasySaver?
EasySaver customers need to have an existing account in a bank, credit union,
or other financial institution that can be debited by ACH, in addition to
the usual criteria for savings bond purchases (U.S. residency and a Social
Security number). It would also be a good idea for customers to contact
their bank or credit union to verify that it will process electronic debits
for the type of accounts to be used for EasySaver purchases.
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6. Will financial institutions receive a supply of
EasySaver enrollment forms to distribute to their customers?
No, we'd like you to try to promote your financial institution's bond
purchasing options first. If the customer still needs EasySaver information,
then please tell customers to use the resources
listed above so they'll contact us directly.
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7. What should be done if a savings bond doesn't
arrive?
If the savings bond isn't received within 30 days of the debit date, the
customer should call the toll-free, account service number which is provided
when the account is opened. After six months, the customer should write to
the Bureau of the Public Debt, Parkersburg, WV 26106-1328.
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See also:
EasySaver - Information for Savings Bond Customers
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