Most banks will cash savings bonds, but not all branches handle them the same way

Your own bank is usually the fastest place to cash a savings bond, but you need to bring the physical bond itself, a valid ID, and proof that you own it (or that you are authorized to cash it on someone else's behalf). Many large national banks—Bank of America, Wells Fargo, Chase, Citibank—cash bonds at their branches, though some require you to have an account there. Regional and community banks often cash them too, but policies vary widely. The key is calling ahead: not every branch of the same bank handles bonds, and some have stopped the service altogether.

If your bank will not cash the bond, the US Treasury will do it for free through the mail, though that takes longer. You can also cash bonds at most credit unions if you are a member. The Treasury's official list of bond-cashing locations is not comprehensive—it changes as banks drop the service—so your best move is to contact your bank directly and ask whether they cash Series EE, Series I, or whatever type you hold.

Key Takeaways

  • Call your bank before visiting to confirm they cash savings bonds at that specific branch, because policies differ even within the same bank.
  • You will need the physical bond, a government-issued ID, and proof of ownership or authorization to cash it.
  • If your bank declines, the US Treasury will cash the bond by mail at no cost, though processing takes several weeks.
  • Credit unions often cash bonds for members, and some check-cashing services or currency exchanges may do it as well, though fees may apply.
  • Bonds held in a TreasuryDirect account can be cashed online without visiting a bank at all.

What to bring when you visit the bank

Bring the actual bond certificate or savings bond document. If you have a paper bond, bring that. If you hold the bond in TreasuryDirect (the Treasury's online system), you do not need to visit a bank—you can redeem it directly through your account on the Treasury website, and the money goes to your linked bank account within a few business days.

You will also need a government-issued photo ID: a driver's license, passport, or state ID card. The bank needs to verify you are who you say you are. If you are cashing a bond that belongs to someone else—a parent's bond, a child's bond, an estate bond—bring documentation showing you have the right to cash it. This might be a power of attorney, a guardianship order, or a letter from the bond owner authorizing you to act on their behalf. The bank will tell you what counts as proof when you call.

Banks that commonly cash savings bonds

Large national banks that have historically cashed bonds include Bank of America, Wells Fargo, Chase, Citibank, and US Bank. However, "historically" is the operative word—some branches have discontinued the service, and many now require you to have an account at that bank. Call the branch directly rather than relying on the bank's website, because the website often does not specify whether bonds are cashed there.

Regional banks and credit unions are often more reliable than national chains for this service. If you belong to a credit union, call and ask whether they cash savings bonds. Many do, and they may be faster and more willing to help than a large bank. Local community banks sometimes cash bonds too, though again, calling first saves a wasted trip.

When your bank will not cash the bond

If your bank declines, you can mail the bond to the Treasury and they will cash it for free. Send the bond to the Bureau of the Fiscal Service, Parkersburg, WV 26106-1328. Include a letter stating your name, address, Social Security number, and the bond's series and denomination. Sign and date the letter. The Treasury will send you a check by mail, which typically takes two to four weeks from the time they receive it.

Before mailing, make a photocopy of the bond for your records. The Treasury will not return the original. If the bond is registered to two people or if you are cashing it on behalf of a minor or deceased person, include documentation of that as well—the Treasury's website has a form for each situation.

Cashing bonds through TreasuryDirect

If your bond is held in a TreasuryDirect account, you do not need to go to a bank at all. Log into your TreasuryDirect account at treasurydirect.gov, select the bond you want to redeem, and request the redemption. The money will be deposited into the bank account you have linked to your TreasuryDirect account within one to three business days. This is the fastest method if your bond is already in the system.

If you have a paper bond and want to move it into TreasuryDirect so you can redeem it online in the future, you can do that, but the process takes time. You would need to contact the Treasury directly to arrange the transfer. For a one-time redemption, it is usually faster to just take the bond to a bank or mail it to the Treasury.

Other places that may cash savings bonds

Some credit unions, check-cashing services, and currency exchanges will cash savings bonds, though this is less common than it used to be. If you try a check-cashing service, expect to pay a fee—typically a percentage of the bond's value. This is more expensive than using a bank or the Treasury, so it should be a last resort.

Pawn shops and some retail locations may also cash bonds, but again, fees apply and the terms vary. Your best bet is still your own bank, a credit union you belong to, or the Treasury by mail.

What happens if the bond is lost or damaged

If your paper bond is lost, stolen, or too damaged to cash, contact the Treasury directly. You will need to file a claim and provide proof of ownership—usually the original purchase receipt or documentation showing the bond was issued in your name. The Treasury can issue a replacement, though the process takes several weeks and requires paperwork.

If the bond is damaged but still readable, most banks will still cash it. If it is torn, faded, or partially illegible, bring it to the bank and ask. They may accept it or direct you to the Treasury. Do not try to repair a damaged bond yourself—tape, glue, or other fixes can make it uncashable.

Frequently Asked Questions

Do I need to have a bank account at the bank to cash a savings bond there?

Many large banks now require you to have an account with them to cash bonds, though policies vary by branch and by bank. Some regional banks and credit unions will cash bonds for non-members. Call ahead to confirm. If the bank declines, the Treasury will cash it by mail at no cost.

How long does it take to cash a savings bond at a bank?

If the bank accepts it, cashing usually happens the same day or within one business day. The Treasury by mail takes two to four weeks. TreasuryDirect redemptions take one to three business days.

Can I cash a savings bond that belongs to my child?

Yes, if you are the parent or legal guardian. Bring the bond, your ID, and documentation of your guardianship or parental status. If the bond is registered to both you and your child, you may be able to cash it with just your ID—ask the bank. If it is registered only to the child, you will need guardianship papers.

What if my savings bond is very old—will banks still cash it?

Yes. Savings bonds do not expire. Even bonds issued decades ago can be cashed at face value plus accrued interest, as long as they have not reached final maturity. The Treasury website has a tool to look up the current value of your bond based on its series and issue date.

Can I cash a savings bond online without going to a bank?

Only if the bond is in a TreasuryDirect account. If you have a paper bond, you must either take it to a bank or mail it to the Treasury. You cannot redeem a paper bond online through any other service.