All the keys to buy bills through the Public Treasury on the Internet

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The profitability of the purchase of public debt is ahead of the fixed-term deposits of Spanish commercial banks on the right. Specifically, the interest on Treasury Bills They have already touched 3% in the month of February and they have been gaining popularity since December 2022. In front of the Bank of Spain, lines have formed with dozens of people who wait hours to open their account, however, this is not the only option to invest in these issues.

The Public Treasury offers the Securities Purchase and Sale Service (SCVV) that allows the acquisition of letters, bonds and obligations through the Internetwhich facilitates access to the product for interested users who prefer to operate over the Internet, although it is necessary to have a digital certificate or electronic ID.

Treasury Bills are short-term fixed-income securities that allow their buyers to earn interest on their savings. This interest is closed in an auction that takes place every seventh of the month (for the purchase of 6 and 12-month debt) and fourteen (for 3 and 9 months). Specifically, during the month of February, the 6- and 12-month bills reached a yield of 2.69% and 2.84%, while the 3- and 9-month bills They came to offer up to 2.52% and 2.97%.

These are some of the keys to buy bills electronically:

First, the user must access the Securities Purchase and Sale Service page with an Electronic Identity Document (such as the DNI-e), with an Electronic Certificate or, more recently, through the access system provided by ‘Cl@ve Permanente’. Once you have entered the web, you must take into account that to buy public debt it is necessary to be the holder of an account in the Bank of Spain.

“In the event that the client already has this account, they must only fill in the form indicated on the same screen. However, if they do not have it, they must request the opening of the account at the same time that a debt purchase operation is processed. public”, they explain from the Public Treasury.

In addition, the structure allows joint investment in debt, which enables savings, for example, of a family group. To do this, the bill settlement account and the account opened at the Bank of Spain must have several holders (with a maximum of four, who must be the same). Everyone must sign the transaction.

“An investor may be the holder of an individual account and of the joint accounts that he wishes, as long as the latter have different owners. That is, the joint account will be unique as long as the holders do not vary,” they explain from the Treasury. “It should be noted that in the case of joint accounts, all the holders must sign all the operations that are carried out in said joint account, but, obligatorily, the first holder (also called Joint Account Manager) always has to initiate the signature. )”, Add.

This group purchase also divides the tax amounts among all holders. “The returns generated will be distributed proportionally among the different account holders,” it is explained. Withholdings are not applied to interest on public debt, so the payment of taxes is deferred to the liquidation of personal income tax.

The status of operations channeled through the Internet can be checked online. “The Securities Purchase and Sale Service (SCVV) allows to know in real time the integral investment position. It can be accessed through the subsection “integral position” of the SCVV operations menu located on the right side of the web page” , point from the Treasury.

Regarding the collection of interest and the recovery of capital, from the public entity they explain that the Bank of Spain You will enter both the interest and the repayment amount on the due date to the credit account provided by the user in the purchase request. “The client must consider that the ownership of the account has to coincide with that of the direct account,” she points out. The commissions are the same as for physical operations through the Bank of Spain offices: 0.15 per 1,000 with a minimum of 0.90 euros and a maximum of 200 euros.

Finally, the client can program the reinvestment of values, if he wishes, through the ‘Invest’ section of the Public Treasury website. The reinvestment will have to be made in those assets whose amortization date coincides with the issuance or putting into circulation of new debt issues, they explain from the Treasury.

“If there is the possibility of reinvestment, the data to do so will appear on the screen sufficiently in advance,” he adds. Customers interested in continuing to invest their savings should note that the subscription period ends seven days before the auction is held.

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