T Bills — bank routing number changed because of merger
Hi…my bank at the time of registration was First Midwest Bank but now Old National Bank has taken over First Midwest. Account number remains same but routing number is different. I have sent necessary certified forms to TreasuryDirect but they are saying it takes 13 weeks or longer for Treasury to complete the bank registration. Fortunately Treasury has credited maturing T Bill in Old National Bank account. Terry my question is…is it safe for me to buy new T Bill before they fix it. Thank you.
Terry Says
I spoke with Treasury today, specifically about your issue. Most banks maintain their old routing numbers for a while, knowing some clients have setups like yours. Yes, it is safe for you to buy a new T-bill now.
And either wait on line at Treasury — or search TreasuryDirect for Form 5512 to change the routing number. Your signature must be notified. Should be changed within a week after they get it. But if you get them n the phone, they can verify and do it immediately. I think it’s worth the wait on the phone!
