Berkshire Bank does not sell U.S. savings bonds directly to customers

Berkshire Bank, a regional bank operating in the Northeast and Mid-Atlantic, does not offer Series EE or Series I savings bonds through its branches or online banking platform. If you want to buy U.S. savings bonds, you will need to go through TreasuryDirect, the official government platform, or work with a broker or financial institution that has been authorized to sell them.

This is true for most traditional banks and credit unions. Savings bonds are issued by the U.S. Department of the Treasury, and the distribution channels are limited. Understanding where you can actually buy them matters because it affects how quickly you can purchase them and what options are available to you.

Key Takeaways

  • Berkshire Bank does not sell Series EE or Series I savings bonds through any of its locations or online services.
  • TreasuryDirect is the primary way to buy new savings bonds directly from the U.S. Treasury with no fees or markups.
  • Some brokerages and financial institutions can sell savings bonds, but they may charge fees that TreasuryDirect does not.
  • You can hold savings bonds in a Berkshire Bank account, but you must purchase them elsewhere first.

Where to buy U.S. savings bonds instead

TreasuryDirect is the official online platform run by the U.S. Department of the Treasury. You can open an account, link a bank account (including one at Berkshire Bank), and buy Series EE or Series I bonds directly. There are no fees, no markups, and no middleman. You can purchase bonds in amounts from $25 to $10,000 per calendar year for each series.

Some full-service brokerages, including Fidelity, Charles Schwab, and Vanguard, also sell savings bonds. These firms may charge a transaction fee per bond purchase, typically between $1 and $25 depending on the firm. If you already have an account with one of these brokerages, buying through them may be convenient, but you will pay more than you would through TreasuryDirect.

Banks and credit unions other than Berkshire Bank sometimes sell savings bonds as well, though the practice is becoming less common. If you have a relationship with another financial institution, it is worth asking whether they offer this service.

How to set up TreasuryDirect if you bank with Berkshire

Opening a TreasuryDirect account does not require you to change banks. You can keep your Berkshire Bank account and use it to fund your TreasuryDirect purchases. The process takes about 15 minutes online.

You will need a Social Security number or Individual Taxpayer Identification Number, a valid email address, and online access to a U.S. bank account. During signup, TreasuryDirect will verify your identity by asking questions about your credit history. Once your account is active, you can link your Berkshire Bank checking or savings account and purchase bonds whenever you want within the annual limits.

Funds are transferred electronically from your Berkshire account to TreasuryDirect, and the bonds appear in your TreasuryDirect account within one to two business days. You do not need to visit a branch or speak to anyone at Berkshire Bank.

Why banks stopped selling savings bonds

Decades ago, banks and post offices were the main places Americans bought savings bonds. Over time, the Treasury shifted to online-only sales through TreasuryDirect, which launched in 2002. As more people moved to digital purchases, banks saw less demand and stopped stocking bonds.

The shift also reduced costs for the Treasury. Selling bonds through banks required paperwork, physical inventory, and staff training. TreasuryDirect eliminated those expenses and made the process faster for buyers who had internet access. Today, TreasuryDirect handles the vast majority of new savings bond sales.

Holding savings bonds at Berkshire Bank

Once you own savings bonds purchased through TreasuryDirect, you can hold them in your TreasuryDirect account indefinitely. You do not need to move them to Berkshire Bank or any other financial institution. TreasuryDirect is the custodian, and your bonds remain there until you decide to cash them in or transfer them.

Some people choose to keep a record of their bonds with their bank for organizational purposes, but the bonds themselves live in your TreasuryDirect account. If you want a financial advisor at Berkshire Bank to help you think through your savings strategy, you can discuss your bonds with them, but they cannot hold the bonds themselves.

Frequently Asked Questions

Can I buy savings bonds through Berkshire Bank's investment services?

Berkshire Bank does not offer savings bonds through its investment or wealth management services. If the bank offers brokerage services, you could potentially buy bonds through a connected brokerage platform, but you would need to ask your local branch or financial advisor whether this option exists at your specific location.

What if I want to buy savings bonds in person instead of online?

TreasuryDirect is online only. If you do not have internet access or prefer in-person service, some brokerages with physical locations may sell bonds, though they will charge fees. You could also ask a financial advisor or accountant to help you set up a TreasuryDirect account.

Can I set up TreasuryDirect using my Berkshire Bank debit card instead of linking my account?

No. TreasuryDirect requires you to link a bank account for transfers. You cannot use a debit card alone. However, linking your Berkshire account is straightforward and takes a few minutes during the signup process.

If I buy bonds through TreasuryDirect, do I need to tell Berkshire Bank?

No. Your savings bonds are held by the Treasury, not by Berkshire Bank. You do not need to notify the bank. If you want to track your bonds alongside your other accounts, you can keep your own records or use TreasuryDirect's online dashboard.