You can cash most bonds at a bank, but the process depends on the bond type and whether the bank issued it

Not every bank will cash every bond. Banks that issued the bond — or are part of the issuing institution — will almost always cash it for you. Banks that did not issue it may refuse, or may charge a fee. The fastest route is to call the bank where you hold your checking or savings account and ask whether they cash bonds, and if so, which types. If they do not, you can take the bond to the bank that issued it, or to a brokerage firm.

The process itself is straightforward: you bring the bond and proof of identity, the teller verifies the bond is legitimate and has reached maturity (or can be cashed early), and the funds go into your account or are given to you in cash. The whole transaction usually takes a few minutes to a few hours, depending on whether the bank needs to verify the bond through a clearing system first.

Key Takeaways

  • Banks that issued the bond will cash it; banks that did not may refuse or charge a fee, so call ahead.
  • You need the physical bond certificate or document, proof of identity, and sometimes a signature may provide or notarization depending on the bond type.
  • Savings bonds (Series EE, I, and HH) can only be cashed at a bank or through the U.S. Treasury, not at a brokerage.
  • Corporate and municipal bonds must usually go through a brokerage or the issuing institution, not a retail bank.
  • If the bond has matured and stopped earning interest, cashing it immediately prevents you from losing value to inflation.

What you need to bring to the bank

Bring the bond itself — the physical certificate or document. If you have lost it, you will need to contact the issuer directly to request a replacement or to cash it by mail. Bring a government-issued photo ID: a driver's license, passport, or state ID card. The teller will compare your face to the ID and your signature to the one on the bond.

For some bonds, the bank may ask for a signature may provide or notarization. This is not a standard notary signature — it is a certification from a bank officer, broker, or credit union officer that they have watched you sign a document and verified your identity. Call the bank before you go to find out whether you need this. If you do, you can usually get it at the same bank on the same day, but it may take an extra 15 to 30 minutes and may cost $10 to $25.

How U.S. savings bonds are cashed

Series EE, Series I, and Series HH bonds can be cashed at most banks, but not all. Call your bank first. If they do not cash savings bonds, you can cash them through the U.S. Treasury's TreasuryDirect website or by mail.

At a bank, bring the bond and your ID. The teller will check that the bond has reached its minimum holding period — Series EE and I bonds must be held for at least one year, and you lose the last three months of interest if you cash them before five years. The bank will verify the bond number and your ownership through the Treasury's system, then deposit the money into your account or give it to you in cash. This usually takes a few minutes.

If you cash through TreasuryDirect online, you log into your account, select the bond, and request redemption. The money arrives in your linked bank account within a few business days. If you mail the bond to the Treasury, include a letter stating you want to redeem it, sign the back of the bond in front of a witness or notary, and mail it to the address on the Treasury website. This takes two to four weeks.

How corporate and municipal bonds are cashed

Corporate bonds (issued by companies) and municipal bonds (issued by cities and states) are not usually cashed at a retail bank. Instead, you sell them through a brokerage firm. You can open an account at a brokerage like Fidelity, Charles Schwab, or E*TRADE, deposit the bond, and sell it on the secondary market. The sale usually settles in two business days, and the proceeds go into your brokerage account.

If you want to hold the bond until maturity and then cash it, contact the issuing company or municipality directly. They will tell you the process for redeeming it — usually by mail or through their investor relations office. Some issuers allow you to redeem at a bank they have designated as a paying agent, but you will need to call the issuer to find out which bank that is.

If the bond is old or the issuer no longer exists, you may need to work with a specialized firm that handles defunct securities. This is rare, but if you encounter it, search for "lost and abandoned securities" or contact your state's unclaimed property office.

What happens if the bond has matured

A matured bond is one that has reached its end date and is no longer earning interest. If you keep a matured bond in a drawer, you are not losing the principal — the money is still there — but you are losing the opportunity to earn interest elsewhere. Some matured bonds stop earning interest entirely; others earn a very low rate.

Cash a matured bond as soon as you realize it has matured. The bank will not refuse to cash it, but the longer you wait, the more inflation erodes its value. If you are not sure whether your bond has matured, check the issue date and term on the certificate. A bond issued in 2000 with a 20-year term matured in 2020. If you have a Series EE bond, you can check its status on TreasuryDirect by logging into your account.

When a bank refuses to cash your bond

Some banks refuse to cash bonds because they do not have the systems in place to verify them, or because they consider it too much work for a small transaction. If your bank refuses, you have three options: take the bond to the bank that issued it, take it to a brokerage firm, or contact the issuer directly and ask how to redeem it.

If the issuer is a company or municipality, call their investor relations or finance department. They will tell you whether you can redeem it directly with them, or whether you must go through a paying agent (usually a large bank). If the issuer is the U.S. Treasury, use TreasuryDirect or mail the bond to the Treasury.

Do not try to sell a bond you want to hold to maturity through a brokerage unless you are comfortable with the sale price — brokerages sell bonds on the secondary market, and the price may be higher or lower than the face value depending on interest rates and the bond's credit quality.

Fees and what to expect

Most banks do not charge a fee to cash a bond they issued. Banks that did not issue the bond may charge $10 to $50, or may refuse altogether. Brokerages typically charge a small commission when you sell a bond — usually $1 to $10 per bond, though some brokerages waive the fee for certain types of bonds.

If the bank asks for a signature may provide, that may cost $10 to $25. If you need a notarization, that usually costs $5 to $15. These are one-time costs and are worth paying if they are the only way to cash the bond.

Ask about fees before you hand over the bond. If the fee seems high, call another bank or a brokerage to compare.

Frequently Asked Questions

Can I cash a bond if I lost the certificate?

Yes, but you will need to contact the issuer directly. For U.S. savings bonds, log into TreasuryDirect or call the Treasury. For corporate or municipal bonds, call the issuer's investor relations department. They will verify your ownership and either issue a replacement certificate or redeem it directly. This process takes one to four weeks.

What if someone else's name is on the bond?

If the bond is registered to someone else, that person must be present to cash it, or must sign a power of attorney authorizing you to cash it on their behalf. If the bond is in both names, either person can usually cash it alone, but call the bank first to confirm. If the original owner has died, the bond becomes part of their estate and must go through probate or be handled according to the will.

Do I have to cash the whole bond, or can I cash part of it?

For most bonds, you cash the whole thing. Series I and EE savings bonds are issued in fixed denominations ($25, $50, $100, $200, $500, $1,000, $5,000, $10,000), so you cannot split them. Corporate and municipal bonds can sometimes be split if they are held in book-entry form (electronically), but this is rare and depends on the issuer.

How long does it take to get the money?

At a bank, you usually get the money the same day or the next business day. If the bank needs to verify the bond through a clearing system, it may take up to three business days. Through TreasuryDirect online, it takes two to three business days. By mail, it takes two to four weeks.

Can I cash a bond before it matures?

Series EE and I savings bonds can be cashed after one year, but you lose the last three months of interest if you cash before five years. Corporate and municipal bonds can be sold before maturity through a brokerage, but the price may be higher or lower than you paid. Call the issuer or a brokerage to find out the current market price before you decide to sell early.