Walmart does not cash savings bonds, and neither do most retail stores

Walmart's customer service desk will not cash a savings bond, even if you have your Social Security number and the bond in hand. Most big-box retailers—Target, Costco, Best Buy—do not offer this service either. Savings bonds are federal securities, not like a personal check or a money order, and the redemption process requires verification through official channels that retail locations are not set up to handle.

The places that actually cash savings bonds are banks, credit unions, and the U.S. Department of the Treasury itself. If you have a bank account anywhere, that is your fastest route. If you do not, the Treasury has a direct path that takes longer but works.

Key Takeaways

  • Banks and credit unions cash savings bonds for their customers, usually the same day, if the bond is in your name and you have proper ID.
  • If you do not have a bank account, you can redeem a bond directly through the Treasury's TreasuryDirect website or by mail, but the process takes two to four weeks.
  • Series EE and Series I bonds cannot be cashed until they are at least one year old, and cashing before five years means you lose the last three months of interest.
  • You will need the bond itself, a valid government-issued ID, and proof that you are the registered owner if someone else is trying to cash it on your behalf.

How to cash a savings bond at a bank or credit union

Walk into any bank or credit union where you have an account and ask to redeem a savings bond. Bring the bond itself, a valid ID (driver's license, passport, or state ID), and your account information. The teller will verify that you are the registered owner, check that the bond meets the redemption rules, and deposit the cash directly into your account or give it to you in cash on the spot.

If you do not have an account at that bank, some will still cash it for you, but policies vary. Call ahead and ask. Credit unions are often more flexible with non-members than large national banks are. The whole process usually takes 10 to 15 minutes if the bond is in order.

If your bond is registered in both your name and someone else's name (like a parent and child), both owners may need to be present to redeem it, depending on how the registration reads. Check the bond itself—it will say "or" or "and" between the names. "Or" means either owner can cash it alone. "And" means both must sign.

Redeeming through TreasuryDirect if you have no bank account

If you do not have a bank account, you can redeem a bond through TreasuryDirect, the Treasury's official online platform. Go to treasurydirect.gov, create an account, and link a bank account to receive the proceeds. You will need to provide your Social Security number, a valid ID, and the bond's serial number. The Treasury will mail you a form to sign and return, and the whole process takes two to four weeks.

If you do not have a bank account to link, you cannot complete the TreasuryDirect redemption. In that case, you can redeem by mail: print the form FS Form 1522 from the Treasury website, sign it in front of a notary public (your bank, credit union, or library can do this for a small fee, usually $5 to $15), and mail it with your bond to the Bureau of the Fiscal Service. Processing takes four to six weeks, and they will send you a check.

Bonds you cannot cash yet and what to do about them

Series EE bonds and Series I bonds must be at least one year old before you can redeem them. If your bond is less than a year old, you have to wait. There is no exception and no way around this rule.

If you cash a Series EE or Series I bond before it has been held for five years, you lose the last three months of interest. So if you bought a bond 18 months ago, you would get the interest for 15 months, not 18. This penalty applies even if the bond is otherwise redeemable. If you can wait the full five years, you keep all the interest earned.

Series HH bonds and older Series H bonds have different rules. Check the bond itself or call the Treasury's customer service line at 844-284-2676 to confirm the redemption rules for your specific bond type and issue date.

What happens if the bond is in someone else's name

If a bond is registered only in another person's name—a parent, grandparent, or other relative—you cannot cash it, even if they gave it to you. Only the registered owner can redeem it. If the owner is deceased, the process is more complicated and involves the estate or probate court.

If you are the executor or beneficiary of an estate that includes savings bonds, contact the Treasury directly at 844-284-2676. They will explain what documents you need (usually a death certificate and proof of your authority) and walk you through redemption on behalf of the deceased owner.

Lost, stolen, or damaged bonds

If your bond is damaged but still readable, most banks will still cash it. If it is illegible or missing pieces, the bank may refuse it and direct you to the Treasury. If your bond is lost or stolen, you cannot redeem it through normal channels. Instead, file a claim with the Treasury using Form FS 2092, which you can download from treasurydirect.gov. The Treasury will investigate and issue a replacement bond or payment if they confirm the loss.

The claim process takes several weeks. You will need to provide the bond's serial number, issue date, and series, plus a detailed account of what happened. Keep any documentation you have—purchase receipts, statements, or correspondence about the bond.

Why Walmart and other retailers cannot help

Retail stores like Walmart have no connection to the federal bond system. They do not have access to Treasury records, cannot verify bond ownership, and are not authorized to handle federal securities. Even if a manager wanted to help, they would have no way to confirm the bond is real or that you own it.

The same applies to check-cashing services and payday loan stores. They cash personal checks and issue short-term loans, but they do not touch savings bonds. If someone tells you they can cash a bond at a retail location, they are mistaken or trying to scam you.

Frequently Asked Questions

What if I lost the physical bond but have the serial number?

You can still redeem it if you have the serial number, issue date, and series. Bring this information to your bank along with your ID, and they can look it up in the Treasury system. If the bank cannot find it, contact the Treasury directly at 844-284-2676 with the same details.

Can I cash a savings bond at a post office?

No. The U.S. Postal Service does not cash savings bonds. Banks, credit unions, and the Treasury are your only options. Some post offices have banking partners on-site, but they would handle it as a bank transaction, not a postal service.

Do I have to pay taxes when I cash a savings bond?

Yes. The interest earned on a savings bond is subject to federal income tax. You do not pay it when you redeem—you report it on your tax return for the year you cash the bond. State and local taxes may also apply depending on where you live. The bank or Treasury will not withhold taxes automatically.

What if the bond is in my child's name and I want to cash it?

Only the registered owner can redeem the bond. If your child is old enough to sign (usually 18 or older), they must go to the bank with you and sign the redemption form. If they are younger, you cannot cash it unless you are listed as a co-owner on the bond itself.

How long does it take to get the money after I redeem?

At a bank or credit union, you get the money the same day, either deposited to your account or handed to you in cash. Through TreasuryDirect, it takes two to four weeks. By mail to the Treasury, it takes four to six weeks plus the time for your check to arrive.