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Diego
Diego (@guest_1806517)
March 2, 2024 02:15

I recently learned from Shawn that it was possible to push funds into Treasury Direct (to the C of I) from at least one bank. I use TD a fair bit and I decided to study this with my roster of open accounts. This article seemed like the best place to publish my findings, so I apologize in advance if it belongs somewhere else.

The following FIs linked TD with trial deposits, and a user-initiated push successfully arrived in the C of I:

  • Chase
  • Elements CU
  • KeyPoint CU
  • SoFi

The following FIs linked TD with trial deposits, but canceled a user-initiated push and deleted the external account:

  • Alliant CU

The following FIs sent trial deposits to TD, but refused to link the account:

  • Ally
  • CFG
  • PNC (Interestingly, all three used PNC’s routing number)

The following FIs did not accept TD’s account number:

  • Capital One
  • Discover
  • Fidelity
  • Laurel Road
  • Logix CU
  • Marcus
  • Schwab
  • Southland CU
  • Unify CU
  • Upgrade
  • US Bank
  • Wescom CU

The following FIs did not accept TD’s routing number:

  • American Express
  • Kinecta CU
  • Wells Fargo

Plaid returns “No compatible accounts” when using the login method and “Error occurred” when submitting the numbers for trial deposits.

MX will keep spinning its wheels until auto-logout occurs.

Pickle Rick
Pickle Rick (@guest_1806520)
March 2, 2024 02:27

I should have mentioned Plaid does not work. The silver lining is that if the trial deposits work, you know the push will work. You won’t end up with a large deposit getting stuck in limbo.

Also, you can add UMB to the list of FIs that do not accept TD’s routing number. @Diego

Diego
Diego (@guest_1806522)
March 2, 2024 02:32

Not quite true. My money didn’t end up in limbo, but Alliant canceled the push and deleted TD the next day.

Pickle Rick
Pickle Rick (@guest_1806524)
March 2, 2024 02:36

I read your comment too fast and missed that. Then I guess you don’t know that the FI will definitely process the push, but you know that if they do it will be successful.

Diego
Diego (@guest_1806525)
March 2, 2024 02:42

Right. I’m glad I waited to post until my own pushes hit, otherwise I would have mistakenly included Alliant as a success.

Eric 🔗
Eric 🔗 (@guest_1806552)
March 2, 2024 08:03

Did Ally, Alliant, CFG or PNC lock your account for attempting this?

What is MX?

Diego
Diego (@guest_1806869)
March 2, 2024 23:48

I didn’t get locked out of any of those accounts.

MX is a Plaid-like service that’s used by US Bank, among others.

Eric 🔗
Eric 🔗 (@guest_1806551)
March 2, 2024 08:00

I’m surprised that you didn’t try BluPeak since that was the post that you got the idea from.

What does “(Interestingly, all three used PNC’s routing number)” mean?

I found your comment in the Kinecta post that you needed to go in-branch to get approved. Do you happen to know what your Chex stats were before applying?

Diego
Diego (@guest_1806879)
March 3, 2024 00:06

My P2 just opened BluPeak on Thursday and doesn’t have access to external transfers yet. I will follow up when that becomes available.

The only information provided by TD regarding the source of a C of I deposit is the routing number. I received six trial deposits from a routing number associated with PNC. By process of elimination, the other two pairs of trial deposits had to come from Ally and CFG.

Before applying to Kinecta, my Chex was 0/1 1/3 1/6 3/12 11/24.

Eric 🔗
Eric 🔗 (@guest_1806952)
March 3, 2024 07:23

That is very odd indeed that it showed PNC’s routing # for all 3. Maybe that had something to do with the problems that you had linking those accounts?

I guess that shows that it is generally better to try 1 FI at a time when linking an external account.

Did the 4 successful FI’s routing #’s show up correctly on TD’s site?

Unfortunately, I don’t foresee myself having your pristine Chex stats any time soon so I guess I will have to continue to avoid applying for their bonus.

You seem to be pretty active on DoC so I’m actually a little surprised that your Chex stats are so (relatively) low.

Diego
Diego (@guest_1807367)
March 4, 2024 01:30

You might be right; I will retry those three separately at a later date. But I was expecting at least a few FIs to balk when they couldn’t withdraw the trial deposits.

Chase, Elements, and SoFi used RTNs that were recognizably theirs. KeyPoint, however, used one associated with Sterling National Bank (now Webster Bank) both for the trial deposits and the manual push.

Real life interfered with my DoC hobby for most of 2023. I recently got back in the saddle, so I’ve taken the opportunity to pursue some Chex-sensitive offers like Kinecta.

Eric 🔗
Eric 🔗 (@guest_1807406)
March 4, 2024 07:50

Are you aware of the Fire (CA) offer? You might get approved based on your low Chex stats.

Eric 🔗
Eric 🔗 (@guest_1807407)
March 4, 2024 07:51

BTW, I just checked your comment history and it seems like you’ve been commenting on DoC almost as long as I have. Our comment counts are just a tad different though.

Ricki
Ricki (@guest_1749806)
December 2, 2023 14:28

On 11/27/23, I opened a US Bank checking account and tried to add it to my TreasuryDirect (“TD”) account with TD’s add bank function. I got the error, “The bank information you are attempting to add is unable to be verified. Please review the information that you entered and try again.”

A TD rep couldn’t add it either. She said the bank account was too new, and I needed to wait a couple days. 

On 11/30/23, I still couldn’t add the account, either online or by phone. A TD rep said some banks can’t be added online or by phone, and I needed to submit FS Form 5512, which takes 4 weeks to process, if I wanted to add this account.

On 11/30/23, I filled out the form and took it to a local BofA branch, where a BofA VP/Merrill Lynch advisor witnessed my signature, filled out the certification section, and faxed the form to the office that would apply a Medallion seal within 3 business days and then mail the completed form to me. Delay, delay, delay.

On 12/1/23, I still wasn’t able to add the account, as I had come to expect.

But on 12/2 (Saturday), I was finally able to add the account. Totally unexpected.

The moral of the story is that you may have to wait 5 days before you can add a newly opened bank account to your TD account.

Eric
Eric (@guest_1659668)
July 25, 2023 10:26

I just added 2 of my bank accounts to Treasury Direct after only having 1 bank account linked since I opened my account. It was almost too easy as they didn’t require me to login or use test deposits. Is there some kind of catch that I am missing?

Are we able to do a partial withdrawal to multiple bank accounts?

mangorunner
mangorunner (@guest_1664521)
August 2, 2023 07:55

I saw your comment in the link below, indicating exactly that. Thanks, Eric
https://www.doctorofcredit.com/212507-2/#comment-1663721

Churnia
Churnia (@guest_1601059)
April 18, 2023 21:44

Anyone asked to submit ‘Form FS 5444’ after getting locked? I got an email asking me to have the form ‘signed by my financial institution’ to verify me. I went to two banks, none of them want to sign a TD document! Any work around?

mangorunner
mangorunner (@guest_1601116)
April 18, 2023 22:35

Lots of discussion about Form FS 5444 on Bogleheads.org:
https://www.google.com/search?sitesearch=bogleheads.org&q=Form+FS+5444#ip=1
Churnia

Melody
Melody (@guest_1569332)
March 5, 2023 11:34

What happens if a bank you are trying to add is a joint account, and the character limit doesn’t have enough space to type in both names? Do you just type in as much of the 2nd name as possible? Is this important? I find it odd that with all the weird heightened security (like keyboard pix for typing in the password), they don’t verify the account with micro deposits or something. You can just type in any ol’ bank and it’s good to withdraw and deposit money? That seems ripe for fraud.

Naddi
Naddi (@guest_1569629)
March 5, 2023 20:20

How do you know TD lets you add any ol bank account and do a withdrawal? Have you tried?

Melody
Melody (@guest_1570338)
March 6, 2023 19:39

Yes, I’ve tried. At least I’ve scheduled a purchase & payout from/to that new bank account I just added, and there were no complaints or additional info required. I can’t remember when I initially set up my TD account over a year ago, if I had to do verification of the bank account or not. Of course, the bank accounts I’m using are my own (one is a joint though).

Did you have microdeposit verification or any other verification for the bank accounts you input into TD?

SMan
SMan (@guest_1568960)
March 4, 2023 16:03

Why buying T-Bills through a brokerage is preferred over Treasury direct?

Andrew
Andrew (@guest_1568993)
March 4, 2023 17:27

If you are holding through maturity there is no added advantage. It is if you want to sell them on secondary market, they can be done only so in brokerage.

Beltway
Beltway (@guest_1569044)
March 4, 2023 19:06

This is discussed at length in this thread, which has fewer than 85 comments rn & can be readily skimmed with minimal effort.

JohnnyBoyJr
JohnnyBoyJr (@guest_1568958)
March 4, 2023 15:57

Anyone know if having money from the US Treasury fulfills the requirements for bank account bonuses – the ones that require direct deposit from an employer or government agency?
And what shows up on the banking website when funds are transferred from the US Treasury into the bank account?

Slackermom
Slackermom (@guest_1569438)
March 5, 2023 14:37

I recently had a t bill mature to my Wells Fargo checking account. The description was:
APA TREAS 310 MISC PAY 022323

Sheriff
Sheriff (@guest_1655404)
July 17, 2023 11:13

Did that count as direct deposit ? Slackermom

Frank291
Frank291 (@guest_1568744)
March 4, 2023 08:03

Thanks for the heads up – totally missed they added this function. Added my current checking account without issue, super easy.

vanguard111
vanguard111 (@guest_1568687)
March 4, 2023 02:37

Just added an account at Treasury Direct. It really is a lot easier than before!

Mikey
Mikey (@guest_1568667)
March 4, 2023 01:26

This is fantastic news and very much appreciated. It helps solve a major issue for me My traditional bank account hub only pays .25%. So I have often been stuck with earning that rate on large sums for at least a day since the funds needed to be in place for the next day early morning Treasury debit. Conversely, matured Treasury funds are usually credited in the afternoon, again earning puny interest until moved the following day. So, for at least the near term while Treasury purchases are still advantageous I’ll now get a constant baseline of at least 4.25%. Sweet!

Jack
Jack (@guest_1568826)
March 4, 2023 11:29

Why not just set up a new hub?

Mikey
Mikey (@guest_1568883)
March 4, 2023 13:38

That’s certainly a lot easier to do now than before. It was not worth the effort to notarize because my alternative bank has changed over time with interest rate changes. I did notice that after making the change the Treasury autocorrected my upcoming purchases and redemptions to the new bank, with the exception of next week’s Tuesday activity which is already in a pending status.