More of the banking world is moving online. The Bureau of Public Debt announced Monday treasury bonds are now heading to the web.
The Bureau expects in five years tax payers will have saved $70 million.
And it saves time, you no longer have to physically go to the bank to buy bonds.
?We do a lot online anyway and most of our lifestyle is directed online so why not save the 70 million?? Said Arwa Moulton, the Marketing Director of The Bank of Commerce in Idaho Falls.
Right now treasury bonds go through a process changing hands over and over, now it is down to three simple steps.
?It’s very easy to do actually, you just set up an account, almost like setting up an email account,? said Moulton.
It is all done through the website www.TreasuryDirect.gov.
It is free to sign up and once you do you can keep track of your bonds online.
And most importantly, it is safe.
?It’s a secure website, it’s safe,? said Mouton. ?We see a lot of people already banking online.?
The move online does not affect the bonds you already have in paper, those will stay the same but you do have the option to transfer them online.
The transfer goes into effect January 1, 2012.