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Show HN: Earn 9.62% on US Treasury I Bonds on Yotta

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Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta

#101

Post by washadjeffmad »

I'd encourage anyone interested to go to treasurydirect.gov, sign up for an account, and try to buy an I Series Saving Bond. It takes 15 minutes and couldn't be easier. If you want to be able to paste your password, just F12 and change the readonly flag on the login page.

Also, callback services have been around for decades. If you don't want to wait on hold, use one. No one needs a middleman to buy bonds.

Note: If you want to play it savvy, wait to buy until the November rates are announced later this month. If they're higher, you can just lock in 6mos at that rate instead.

Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta

#102

Post by LastTrain »

matthewwolfe wrote: post #98
dpifke wrote: post #71

TreasuryDirect doesn't have an API, so there's no way to implement this without storing your users' TreasuryDirect passwords. How do you protect those passwords? With reference to https://www.law.cornell.edu/cfr/text/31/363.17 , what recourse would I have if I use your service and my TreasuryDirect account is compromised as a result? Your other products include FDIC insurance via Evolve Bank & Trust. I can't imagine…

You wouldn’t necessarily need to store passwords in plaintext. You could keep a password encrypted and then when a user logs in their password is sent along on a request that does the automation and then discarded at the end. Of course that would mean you could only do a read operation on the website once, or else keep the session with the site open internally.

Why are we guessing when the person that could clear it all up is lurking in these very threads.

Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta

#103

Post by LastTrain »

adammoelis wrote: post #88
DoesntMatter22 wrote: post #78

Earlier quoted context omitted.

Are there legal protections to ensure that you'll give us the TD account directly, like is it like a bank or is it that we just have to trust you?

Yes it would not be legal if we didn't give you access. So there are protections there.

What are those protections, exactly? Be specific - point to documentation.

Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta

#104

Post by DoesntMatter22 »

LastTrain wrote: post #103
adammoelis wrote: post #88

Earlier quoted context omitted.

Yes it would not be legal if we didn't give you access. So there are protections there.

What are those protections, exactly? Be specific - point to documentation.

"Trust us!"

Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta

#105

Post by saxonww »

sebhook wrote: post #82

I hope everyone reading this post knows how easy it is for Yotta to open any account at any other brokerage with this information. From there, they could initiate a transfer from your OTHER (non-Yotta) brokerages and drain your account. It really is that easy with the in-kind (or ACAT) process. Even if Yotta isn't nefarious, they could be hacked and a bad actor could use your data to accomplish the same thing. I reco…

Yeah, this is crazy. Do not have 3rd parties do this on your behalf.

That said, I just tried to sign up for a Treasury Direct account, and while it was 'successful,' I immediately got an email saying they could not verify some of my information and so my account was on hold pending receipt of a notarized form I have to mail. For my protection. It says the average approval time for this form is up to 13 weeks, so I can probably forget about I Bonds this year.

Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta

#106

Post by PaywallBuster »

dpifke wrote: post #71

TreasuryDirect doesn't have an API, so there's no way to implement this without storing your users' TreasuryDirect passwords. How do you protect those passwords? With reference to https://www.law.cornell.edu/cfr/text/31/363.17 , what recourse would I have if I use your service and my TreasuryDirect account is compromised as a result? Your other products include FDIC insurance via Evolve Bank & Trust. I can't imagine…

> If anyone wants to control their Treasury Direct directly without Yotta, they can request it, and we will transfer over their account to no longer be managed by Yotta.

This implies the bonds are stored on their account, not the end users

Re: Show HN: Earn 9.62% on US Treasury I Bonds on Yotta

#109

Post by Teknoman117 »

Animats wrote: post #107

You can only put $10,000 per person per year into US Treasury I-bonds.

The only exception to this is that you can use any money the government owes you on your tax return (up to $5,000, iirc) to purchase I-bonds in addition to the usual $10k limit.

If inflation is still nasty come February (or whenever I get my W-2) I'm highly contemplating doing this with the EV credit I'll be getting...

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