You can cash EE bonds at most banks and credit unions, or directly through the U.S. Treasury

The easiest place to cash an EE bond is your own bank or credit union. Most financial institutions will redeem them for you during normal business hours — you bring the bond certificate, show ID, and they process it on the spot. If your bank does not offer this service, ask them to refer you to a bank that does; many larger branches handle bonds even if yours does not.

If you do not have a bank account or prefer not to use one, you can redeem bonds directly through the U.S. Treasury's TreasuryDirect website or by mail. The Treasury route takes longer but costs nothing and requires no account.

Key Takeaways

  • Your own bank or credit union is the fastest option — most redeem EE bonds same-day with just your ID and the bond certificate.
  • The U.S. Treasury redeems bonds online through TreasuryDirect or by mail if you do not have a bank, though processing takes one to two weeks by mail.
  • You must have the physical bond certificate or a replacement from the Treasury if the original is lost or damaged.
  • Banks may charge a small fee for redemption, though many do not — ask before you hand over the bond.
  • You cannot cash a bond before it reaches final maturity unless you accept a penalty, which varies by the bond's series and age.

Redeeming through your bank or credit union

Walk into any branch with your EE bond certificate and a government-issued ID. The teller will verify the bond is genuine, check that you are the registered owner or an authorized representative, and process the redemption. You will receive the current redemption value — the original purchase price plus all accrued interest — either in cash, as a check, or deposited into an account if you have one there.

Processing is usually immediate. Some banks may ask you to wait while they verify the bond's authenticity, but this rarely takes more than a few minutes. A few institutions charge a small redemption fee (typically $5 to $10), though many do not. Call ahead if you want to confirm your bank's policy before you visit.

If your bank does not redeem savings bonds, they can direct you to a correspondent bank nearby that does. You will need the same ID and bond certificate.

Redeeming through TreasuryDirect online

If you own an EE bond that was issued after May 2003, it may be registered in TreasuryDirect, the Treasury's online system. Log into your TreasuryDirect account, navigate to the bond you want to redeem, and submit a redemption request. The Treasury will deposit the funds into your linked bank account within one to two business days.

You can only redeem bonds this way if they are already in your TreasuryDirect account. Older paper bonds or bonds registered under someone else's name cannot be redeemed online. If you are unsure whether your bond is in TreasuryDirect, you can search your account or contact the Treasury's customer service line at 844-284-2676.

Redeeming paper bonds by mail

If you have a physical EE bond certificate and do not want to visit a bank, you can mail it to the Treasury. Send the bond certificate, a completed FS Form 1522 (the redemption request form), and a copy of your ID to the address listed on the Treasury's website. Include a letter stating the redemption value you expect to receive and your preferred payment method (check or direct deposit).

Mail redemptions take one to two weeks to process after the Treasury receives your package. The Treasury will send you a check or deposit funds directly into your bank account, depending on what you request. Keep a copy of everything you send and consider using certified mail so you have proof of delivery.

What you need to bring or provide

For in-person redemption at a bank, bring the physical bond certificate and a government-issued ID (driver's license, passport, or state ID). If you are redeeming on behalf of someone else, you will need a power of attorney or proof that you are an authorized representative.

For mail redemption, send the bond certificate, a completed FS Form 1522, a photocopy of your ID, and a letter stating what you expect to receive. For TreasuryDirect redemption, you need only your login credentials and access to the account.

If your bond certificate is lost, damaged, or illegible, you can request a replacement from the Treasury before you redeem. This adds one to two weeks to the process.

Early redemption and penalties

EE bonds have a final maturity date — usually 30 years from issue. You can redeem them before that date, but the Treasury imposes a penalty: you lose the last three months of interest. This penalty applies whether you cash the bond at a bank or through the Treasury.

For example, if a bond is worth $5,000 and you redeem it one month before maturity, you forfeit three months of accrued interest and receive less than $5,000. The exact penalty depends on how much interest the bond has earned. If the bond is very young (less than one year old), the penalty may mean you receive less than you paid for it.

Some older EE bonds issued before May 2003 have different penalty rules. Check the Treasury's website or call 844-284-2676 to confirm the penalty for your specific bond before you redeem.

What happens after you redeem

Once a bond is redeemed, it stops earning interest immediately. The Treasury removes it from your account (if it was in TreasuryDirect) or marks it as redeemed in their records. You cannot redeem the same bond twice.

The redemption value you receive is subject to federal income tax in the year you redeem. If the bond was issued as part of an education savings plan (Series EE bonds issued after 1989 for education), you may be able to exclude some or all of the interest from federal tax if you meet certain conditions. Keep your redemption records and consult a tax professional if you think you may have access to for this exclusion.

Frequently Asked Questions

Can I cash an EE bond at any bank?

Most banks and credit unions redeem EE bonds, but not all branches do. Call ahead or ask a teller whether your branch handles bond redemptions. If yours does not, they can direct you to one nearby that does.

What if I lost my bond certificate?

Contact the Treasury at 844-284-2676 or visit treasurydirect.gov to request a replacement certificate. You will need to provide proof of ownership and your ID. The replacement takes one to two weeks, and you can then redeem it at a bank or through the mail.

Do I have to pay taxes on the money I receive?

Yes, the interest earned on an EE bond is subject to federal income tax in the year you redeem it. State and local taxes may also apply depending on where you live. If the bond was issued for education, you may be able to exclude some interest from federal tax — ask a tax professional about your situation.

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

At a bank, you usually receive cash or a check the same day. Through TreasuryDirect, funds arrive in one to two business days. By mail, the process takes one to two weeks after the Treasury receives your package.

Can I redeem a bond before it matures?

Yes, but you will lose the last three months of interest as a penalty. For very young bonds, this penalty may mean you receive less than you paid. Check the Treasury's website to see the exact penalty for your bond's series and age.