61–70 of 140 posts
Can I access my TD account after it's created by Yotta?
Yes just reach out and on request, we can give you full access to your Treasury Direct account any time.
We'll just get direct access to our TD account. Doesn't sound like this would happen automatically though? So if you guys suddenly closed shop with no warning, what recourse do we have?
Earlier quoted context omitted.
Thanks for the feedback and thoughts. I guess those aspects of TD are nice, but if you ever make a mistake, they don't handle it gracefully.
Just curious, how do you handle accounts that require medallion verification to open. Do you stamp it yourself? That could be a nice benefit for people that don't have a brick and mortar bank nearby
treasurydirect.gov##+js(remove-attr, readonly, input.pwordinput)I'm curious about how the legalities of this work. If you create a TreasuryDirect account using my SSN, do you then require a durable power of attorney to manage it on my behalf, as laid out in 31 CFR § 363.33? Or are you simply logging in using "my" credentials and performing actions as if you were me? If the latter, are you at all worried about the Treasury Department cracking down on this?
You don't need power of attorney to act on someone's behalf with their explicit permission and instruction. It may be against TreasuryDirect's terms of service (I have no idea, I haven't read them), but there's nothing specifically illegal about this.
https://www.law.cornell.edu/cfr/text/31/part-363/subpart-B
From a brief reading, having a third party access your TreasuryDirect account does seem problematic:
I'm curious about how the legalities of this work. If you create a TreasuryDirect account using my SSN, do you then require a durable power of attorney to manage it on my behalf, as laid out in 31 CFR § 363.33? Or are you simply logging in using "my" credentials and performing actions as if you were me? If the latter, are you at all worried about the Treasury Department cracking down on this?
We do the latter. Performing actions as if we were you. I am not worried given that.
I liked the description of the product when I first read it. I really did. But I'm losing confidence the more OP keeps pushing in the comments.
This might be a decent product, but I'm wary of someone who is pushing hard to let them create investment accounts on other platforms on our behalf. It just feels like the kind of thing that when it blows up in the future, hindsight will say, "Why did you let someone do that in the first place?"
My wife and I both bought I Bonds directly. It was not exactly a painful or confusing process at all. Granted, the UI/UX of the US government bonds website was not fantastic, but it was certainly usable.
Other than their goofy login page (which you can fix with a 1-liner in greasemonkey), I actually love the TreasuryDirect website. This is maybe a controversial opinion but it's one of my favorite US government websites. The UX is awesome and the layout is simple: no popups, interstitials or other BS. Even better, the page load times and responsiveness are significantly better than any other financial website a visit.…
I loved my Simple account, this looks like a great replacement for it.
Some info I found says:
I bonds cannot be cashed for one year after purchase. If a bond is cashed in
year two through five after purchase, the prior three months of interest are
forfeited. There is no interest penalty for cashing in the bonds after five
years.
I Bonds are 30 year bonds. Since the I Bond yield of 9.xx% is only guaranteed for the first 6 months, what's the consensus thinking here on a long term hold of them? Some info I found says: I bonds cannot be cashed for one year after purchase. If a bond is cashed in year two through five after purchase, the prior three months of interest are forfeited. There is no interest penalty for cashing in the bonds after five…
It probably would not be worthwhile in the grand scheme of things to take $10,000 from some kind of actual investment account and move it over to these I bonds for a brief duration.