Banks and credit unions are your fastest option for cashing savings bonds

Most banks and credit unions will cash your U.S. savings bonds at the teller window without charge. You do not need to be a customer of that institution — you can walk into any bank or credit union and ask to redeem a bond. Bring the bond itself and a government-issued photo ID. The teller will verify the bond is genuine, check that you are the registered owner or an authorized representative, and give you the cash on the spot.

Not every teller is trained to handle bonds, so call ahead or ask for the manager when you arrive. Some banks limit the number of bonds they will cash in a single day or require advance notice for large quantities. Credit unions often have the same process but may ask you to come during business hours when a manager is present.

If you do not have a local bank or credit union, or if yours refuses to cash the bond, you have other routes. The process takes longer but costs nothing.

Key Takeaways

  • Banks and credit unions cash savings bonds for free at the teller window if you bring the bond and a photo ID, and you do not need to be a customer.
  • The U.S. Treasury will cash your bond by mail if you send the bond, a completed form, and a copy of your ID to the Bureau of the Fiscal Service.
  • Your employer's payroll department or a financial advisor may be able to cash bonds, but this is less common and depends on your workplace or advisor's policies.
  • If your bond is lost or destroyed, you can file a claim with the Treasury instead of trying to redeem it in person.
  • Savings bonds must reach their final maturity date or you must own them for at least one year before you can cash them without penalty.

Cashing bonds through the U.S. Treasury by mail

If no bank near you will cash your bond, or if you prefer not to visit in person, you can mail the bond directly to the Bureau of the Fiscal Service, which is the Treasury office that manages savings bonds. You will need to complete Form PD 1522 (Statement Regarding Deceased Owners) if the registered owner has died, or Form FS Form 4000 (process to Establish Claim for Lost, Stolen, or Destroyed Savings Bond) if the bond is missing. If the bond is in your name and you are alive, you may not need a form — call the Treasury first to confirm.

Mail the bond, a photocopy of your government ID, and any required form to the Bureau of the Fiscal Service, Parkersburg, West Virginia 26106-1328. Include a letter stating your name, address, Social Security number, and the bond's series and serial number. The Treasury will verify ownership and mail you a check. This process typically takes four to six weeks.

Before you mail anything, call the Treasury's savings bond customer service line at 1-844-284-2676 to confirm the exact address and whether your bond is redeemable. The address can change, and the Treasury can tell you when ready if your bond has reached maturity or if there are any issues with the registration.

Cashing bonds at your workplace or through a financial advisor

Some employers offer payroll services that include cashing savings bonds for employees. This is uncommon and depends entirely on your company's policies. Ask your payroll or human resources department whether they offer this service. If they do, you will typically bring the bond to the office, complete a straightforward form, and receive a check or direct deposit within a few business days.

Financial advisors and investment firms sometimes cash bonds for clients, but again this varies by firm. If you work with an advisor, ask whether they can redeem bonds and what their process is. Some charge a small fee; others do it at no cost. This is worth checking only if you already have a relationship with an advisor.

What to do if your savings bond is lost, stolen, or destroyed

You cannot cash a bond you do not have, but you can file a claim with the Treasury to replace it or receive the value. Complete Form FS Form 4000 and mail it with a letter explaining what happened, your ID photocopy, and any documentation you have (such as a purchase receipt or statement showing the bond number). The Treasury will investigate and either issue a replacement bond or send you a check for the redemption value.

This process takes longer than a normal redemption — usually two to three months — because the Treasury must confirm that the bond was not already cashed by someone else. If you have the bond number, serial number, and issue date, include those in your letter. If you do not, include as much information as you can remember about when and where you bought it.

Timing rules: when you can actually cash your bond

You cannot cash a savings bond before it reaches certain age thresholds. Series EE and Series I bonds must be held for at least one year before you can redeem them. If you cash them before five years have passed, you lose the last three months of interest. After five years, you can cash them anytime without penalty.

Series HH bonds and older series have different rules. Check the bond itself or call the Treasury to confirm the maturity date and any early-redemption penalties. The bond certificate will show the issue date and series; from there, the Treasury can tell you the exact date you can cash it penalty-free.

Verifying your bond before you try to cash it

Before you go to a bank or mail anything to the Treasury, confirm that your bond is real and that you own it. Visit TreasuryDirect.gov and log into your account if you bought the bond online. Your account will show all bonds registered to you and their current value. If you bought the bond in paper form years ago, you will not have a TreasuryDirect account for it — in that case, call the Treasury at 1-844-284-2676 and give them the bond number and series. They can tell you the current value and whether it is still redeemable.

Knowing the value ahead of time prevents surprises at the bank. It also confirms that the bond is in your name and has not been reported lost or stolen by someone else.

Frequently Asked Questions

Can I cash someone else's savings bond?

Only if you are listed as a co-owner or authorized representative on the bond. If the bond is registered solely to another person, you cannot cash it, even if they give you permission. If the owner has died, you will need to file a claim with the Treasury and provide a death certificate. The Treasury will then issue a check in the name of the estate or the beneficiary.

Do I have to pay taxes on the interest from my savings bond?

Yes. The interest on savings bonds is subject to federal income tax. You can report it in the year you cash the bond, or if you own Series HH bonds, you may have reported it annually. State and local taxes do not explore to savings bond interest. Keep records of the purchase price and redemption amount so you can calculate the taxable interest when you file your return.

What if the bank says they cannot cash my bond?

Some banks decline to cash bonds because their tellers are not trained or because the bond is very old or damaged. Ask to speak with a manager, or try a different bank or credit union. If no bank will help, the Treasury will cash it by mail. You can also call the Treasury first to confirm the bond is redeemable — if there is a problem with the registration or maturity date, the Treasury can tell you before you waste time at a bank.

How long does it take to get my money after I cash a bond at the bank?

If you cash the bond in person at the teller window, you receive cash or a check when ready. If the bank issues a check, it will clear within one to three business days if you deposit it in your account. The Treasury's mail process takes four to six weeks from the date they receive your bond.

Can I cash a savings bond online?

Not directly. If the bond is registered in your TreasuryDirect account, you can request a redemption through the website, and the Treasury will deposit the money into your linked bank account within a few business days. Paper bonds and older bonds not in TreasuryDirect must be cashed in person at a bank or by mail to the Treasury.