Pittsburgh-based dollar Bank, with $2.5 billion in assets, has become the first institution to offer its customers Series EE U.S. savings bonds over the Internet.

To purchase the savings bonds, customers fill out a form through Dollar Bank's NetBanking service, instructing it which account to charge. Dollar Bank then charges the customer's account, sending the order electronically to the savings bonds processing center at the Federal Reserve Bank in Pittsburgh. The savings bond is mailed to the customer about a week later.

The Web offering stems from The Bureau of Public Debt. "We were glad to participate when The Bureau of Public Debt asked us to add savings bonds to our NetBanking line-up," says Dollar Bank's Joseph Smith, svp of marketing. "We're always looking to enhance the products and services we offer over the Web." FB

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