Buying electronic savings bonds online allows consumers to use all the features of the TreasuryDirect program to monitor and redeem their investments, reports the U.S. Department of the Treasury. Electronic savings bonds are more secure because buyers cannot lose them, as they could paper bonds. Additionally, the sale and administration of savings bonds electronically instead of on paper saves the government millions of dollars a year.
As of Jan. 1, 2012, savings bonds are only available in electronic form, with the exception of Series I bonds that taxpayers can purchase with their refunds, explains the U.S. Department of the Treasury. The change allows the government to save on printing, mailing and storage. Instead of having to go to financial institutions to purchase savings bonds, consumers can buy them 24 hours a day from any location with Internet access. A user can set up a single account to handle multiple bond registrations, custom accounts to save for vacations or education, and special accounts for minor children.
Through their TreasuryDirect accounts, consumers can view summaries of their account activity and track the issue dates and current values of their savings bonds, according to the U.S. Department of the Treasury. After the minimum holding period, if they want to redeem any portion of their savings bond investment, they can have the funds sent to their savings or checking accounts within a business day. Consumers making online purchases can buy any amount of savings bond between $25 and $10,000.