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

Most banks and credit unions will cash EE savings bonds for you on the spot, usually without a fee. Walk in with the bond itself, your government-issued ID, and your Social Security number. The teller will verify the bond's value using Treasury Department records, and you'll walk out with cash the same day. This works whether you have an account at that bank or not — many banks cash bonds for non-customers, though a few may require you to be a member.

Call ahead if you're cashing a large bond or an unusual quantity. Some branches keep limited cash on hand and may need to order it. If you're cashing bonds worth more than $10,000, the bank will file a Currency Transaction Report with the federal government — this is routine and not a problem, but it means the transaction takes a few minutes longer.

Key Takeaways

  • Your own bank or credit union is the easiest place to cash EE bonds, and most will do it the same day you walk in.
  • You need the physical bond, a government-issued ID, and your Social Security number — the bank verifies the bond's value directly with the Treasury.
  • Banks that don't know you will often cash bonds anyway, but calling ahead prevents a wasted trip if that branch doesn't do it.
  • The Federal Reserve can cash bonds by mail if no local bank will do it, though the process takes two to three weeks.
  • Never mail an original bond to anyone except the Federal Reserve — use registered mail with tracking if you must send it.

What happens when your bank won't cash the bond

Some smaller banks or credit unions decline to cash savings bonds because they don't have the systems to verify them with the Treasury. If your bank says no, try another bank in your area — larger branches and national banks almost always do this. Credit unions are often willing even when banks aren't, so that's worth a call.

If you've tried multiple banks and hit a wall, the Federal Reserve will cash your bond by mail. You'll mail the original bond to the Federal Reserve Bank in your region along with a form and a copy of your ID. The process takes two to three weeks, and they'll send you a check. This is slower than walking into a bank, but it's reliable and costs nothing.

How to find which Federal Reserve Bank handles your state

The Federal Reserve has 12 regional banks across the country. Your state belongs to one of them, and that's the one you'd mail a bond to if you need to go this route. The Federal Reserve's website lists all 12 banks with their mailing addresses. You can also call the main Federal Reserve number and they'll tell you which regional bank covers your area.

When you mail a bond to the Federal Reserve, include a letter stating your name, address, Social Security number, and the bond's series and serial number. Include a photocopy of your ID — never send the original. Use registered mail with tracking so you have proof the package arrived. The Federal Reserve will send you a check to the address you provide.

Why you shouldn't cash bonds at the place you bought them

You may have bought your EE bonds from a bank or through TreasuryDirect (the government's online bond platform). That doesn't mean you have to cash them there. You can take the physical bond to any bank that cashes bonds, and the result is the same. Going back to where you bought it adds an unnecessary step.

The one exception is if you bought bonds through TreasuryDirect and they're held electronically (not as a paper certificate). In that case, you can't walk into a bank with them — you redeem them through your TreasuryDirect account online, and the money goes to your linked bank account within a few business days. You don't need to go anywhere.

What to bring and what to expect at the bank

Bring three things: the bond itself (the actual paper certificate), a government-issued ID (driver's license, passport, or state ID), and know your Social Security number. The teller will look up the bond in the Treasury system to confirm it's real and see what it's worth. This takes a few minutes. They'll then give you the cash or a check, depending on the amount and the bank's policy.

If the bond is in someone else's name, you'll need that person to be present with their ID, or you'll need a power of attorney document. If the bond owner has died, the process is more complex — you'll need a death certificate and proof that you're authorized to cash it (usually through a will or probate court order). Call the bank ahead of time if this applies to you.

Cashing bonds before they reach final maturity

EE bonds can be cashed anytime after you've held them for one year. If you cash them before five years have passed, you lose the last three months of interest — that's the penalty for early redemption. After five years, you get the full interest with no penalty. Many people wait until the five-year mark to avoid losing that interest, but you're never locked in.

The bank doesn't need to know or care about the timing — they just cash the bond at whatever value the Treasury says it's worth on that day. If you're cashing early and want to know exactly how much interest you'll lose, the Treasury's website has a calculator where you can enter your bond's series and issue date.

Frequently Asked Questions

Can I cash an EE bond that's more than 30 years old?

Yes. EE bonds stop earning interest after 30 years, but you can still cash them at any bank. The value won't go up anymore, so there's no reason to hold them past that point. Bring it in and cash it like any other bond.

What if I lost the bond certificate but remember buying it?

Contact the Treasury Department's Savings Bond Division. They can search their records by your Social Security number and issue date, and they'll send you a replacement certificate. This takes several weeks. You'll need proof of purchase if you have it, or they may ask you to sign an affidavit stating the bond was lost.

Do I have to pay taxes when I cash an EE bond?

Yes, the interest you earned is taxable income in the year you cash it. The bank doesn't withhold taxes — you'll report it on your tax return. If you're cashing a large bond, ask the bank for a record of the amount so you have documentation for your taxes.

Can I cash a bond at an ATM or online?

No. ATMs don't handle savings bonds. If your bonds are held electronically through TreasuryDirect, you redeem them through your online account, but physical paper bonds must be cashed in person at a bank or by mail through the Federal Reserve.

What if the bank says the bond is counterfeit?

This is extremely rare. If it happens, the bank will explain why they think it's not genuine. Ask them to show you the specific problem. If you believe the bond is real, contact the Treasury Department's Savings Bond Division with the bond's series and serial number — they can verify it for you.