Savings Bonds

LadyDuda81509 Posted: May 14, 2010 11:36 AM

Savings Bonds

so i wanna pick one up for my nephew as part of his 1st bday presents... ( i want something i know hes not going to grow out of in a year or two)
as well as fun toys and cute clothes!

umm so do i need to have his social security number...or can i use mine...

i use to work in a bank and i slightly remember that the person buying it could use theirs but in not sure...

RitasEngaged Posted: May 14, 2010 11:37 AM

Re: Savings Bonds

on all of mine that i have gotten i believed it had my ss#

Cacarina Posted: May 14, 2010 11:44 AM

Re: Savings Bonds

You need his ss#

Dreemer107 Posted: May 14, 2010 11:45 AM

Re: Savings Bonds

DH got savings bonds from his grandparents and im pretty sure some of them had his dad's name/SS# on them as a C/O.

meg922 Posted: May 14, 2010 11:53 AM

Re: Savings Bonds

We gave one to our nephew for his communion. We didn't have his SSN, so they used DH's.

MrsC2010 Posted: May 14, 2010 11:55 AM

Re: Savings Bonds

i have gotten some for my neice and nephew and always needed their ssn

gina409 Posted: May 14, 2010 12:51 PM

Re: Savings Bonds

Posted by MrsC2010

i have gotten some for my neice and nephew and always needed their ssn

same here

KerriJohnS Posted: May 14, 2010 12:57 PM

Re: Savings Bonds

I teach this so I def know.

You could put his SS on them IF you know it. IF NOT then you could put your own SS on the application. Your ss will print on the actual bond....but it's understood that not all ss on the bond are that of the owner of the bond and regardless they will be asked to write their ss on the back of the bond when presenting it for payment.

Also, know which type of bond you want to get. Banks sell 2 types, series EE and series I bond. If you need to know specifics about either one.... feel free to ask me!!

KerriJohnS Posted: May 14, 2010 01:01 PM

Re: Savings Bonds

Posted by Dreemer107

DH got savings bonds from his grandparents and im pretty sure some of them had his dad's name/SS# on them as a C/O.

if the ss of another person is on the bond, that doesn't mean they are a co-owner. The co-owner's NAME MUST be on the bond with the words OR. James OR John. If both names are on there... then it would be a co-owned bond and either party can cash it.

With kids, there tends to be more parent co-owners. But that does not have to be the case. The bond can just be for the child.

You could also put a beneficiary on the bond instead of a co-owner. So if the unfortunate incident occurs then the POD (payable on death) name on the bond would be able to cash the bond once they show a death certificate.