I heard about these I Bonds, and about the awesome interest rates, so I decided to give it a whirl. I created an account and arranged for monthly withdrawals of 25.00 dollars. I figured that I would see how it worked out; and if it was a positive experience, I would plan to increase the investment amounts. I started worrying when the first payment was not withdrawn on the date specified, from the bank account I had designated,. Then the nightmare started. I used their contact form and asked why the funds hadn't been withdrawn yet, and asked when they planned on doing so. I received a reply via email that they were receiving lots of emails (no kidding!) and that the only way they could address my issue was for me to send them an email after signing into my account. Fine. Except that after logging in, there was no place to send an email from, logged in or otherwise, except in the "Contact Us" section. So I called. The automated voice informed me that they were receiving more calls than usual (ya think?) and that I would have a two hour hold time. It continuously encouraged me to log in because the website had been updated. Uh, just when did that happen? The last time I looked, that website was in serious need of a face lift. The archaic log in page was seriously frustrating to use. So I decided to log in to check on something else. That was when my credentials suddenly were no good. No matter how many times I entered the exact same login information I was told it was wrong. Finally I was locked out of my account.
I decided to call back and endure the two hour wait. When I finally got through, the woman I spoke with really had no idea why my payments had not begun. Here I was, all excited to take advantage of the awesome rates offered, only to be locked out. She unlocked my account and then suggested that the problem might be with my bank. She advised me to call my bank to see what was up. As we spoke, I attempted to log in again. And was locked out a second time. I told her and she sent a code for the second time. I tried logging in with it. At this point she informed me that we would be cut off soon, because it was closing time. I begged her to hang on so that I could log in. The most she could do was preemptively send out one more unlock code before hanging up. I used it and still could not log in. Then came the dreaded message. You have tried too many log in attempts. You are locked out. Yea! I will stay locked out.
If you decide to use this website, be prepared to become very, very frustrated. Until you want to pull your hair out by the roots. How is it possible in this modern age, that such an archaic website is even up and running? And how is it possible that the customer service is this abysmal? They want you to buy bonds, but they don't want you to find it easy to contact them after you have given them access to your bank? You can set up an account, but God help you if you actually need help with it. I am going back to an old fashioned savings account.