FORT LAUDERDALE, Fla. -- If you want to encourage thrift by giving U.S. Savings Bonds, there's a new procedure to be aware of in buying them this year.
In an effort to cut costs and improve accuracy, the Treasury Department is phasing in a regional delivery system for savings bonds purchased over-the-counter during the first quarter.
Under the new process, customers will go to a bank or thrift and fill out a shorter, simpler savings bond order form, which will be sent to the Federal Reserve to be filled. Customers can also get a non-negotiable gift certificate representing the purchase until the bond arrives in the mail, usually within a week or so. Under the old system, a customer would go to the bank or thrift, fill out a form, pay for the bond and the teller would type it up and hand it over.