You can cash savings bonds at your bank, credit union, or directly through the U.S. Treasury

The fastest way to cash a savings bond is usually your own bank or credit union. Most financial institutions will cash Series EE and Series I bonds on the spot if you have a valid ID and the bond is in your name or you are listed as a co-owner. Call ahead to confirm they handle savings bonds — some smaller branches do not — and bring the physical bond certificate or, if you own digital bonds through TreasuryDirect, bring a government-issued ID and be ready to provide your account information.

If your bank declines or you do not have a banking relationship, you can redeem bonds directly through the U.S. Treasury. For paper bonds, mail them to the Bureau of the Fiscal Service with a completed FS Form 1522 (Request for Payment of Savings Bonds). For digital bonds held in TreasuryDirect, you can redeem them online through your account without leaving home — the money lands in your linked bank account within one to two business days.

A third option is your employer's payroll department if you bought bonds through a payroll savings plan. They can often process redemptions directly, though this is less common now that most bonds are issued digitally.

Key Takeaways

  • Your bank or credit union is the fastest option for cashing paper bonds, usually taking minutes if they offer the service.
  • TreasuryDirect redemptions are free and can be done online, with funds arriving in one to two business days.
  • Mailing bonds to the Bureau of the Fiscal Service works but takes two to four weeks and requires a completed form.
  • You must have a valid government-issued ID and proof that you own the bond or are listed as a co-owner.
  • Savings bonds can be cashed anytime after one year of purchase, though redeeming before five years means losing the last three months of interest.

Cashing bonds at your bank or credit union

Call your bank's main branch or visit in person with your bond certificate and a valid ID. The teller will verify the bond is genuine, confirm you are the owner or authorized co-owner, and process the redemption. Most banks complete this in under an hour. Some branches may ask you to wait while they contact their operations center to confirm the bond details, especially if it is an older or unusual bond.

Not every bank handles savings bonds. Smaller credit unions and online-only banks often do not have the infrastructure to process them. If your bank declines, ask whether they can refer you to a branch that does, or move to the Treasury or mail-in option.

Bring the original bond certificate if you have it. If you have lost the certificate but still own the bond, you can request a replacement from the Treasury before cashing it, though this adds time. Digital bonds held in TreasuryDirect do not have a physical certificate, so this step does not apply.

Redeeming digital bonds through TreasuryDirect

If you own bonds through TreasuryDirect (the Treasury's online platform), log into your account at treasurydirect.gov. Navigate to the "Manage My Direct" section and select the bond you want to redeem. Confirm the redemption amount and the bank account where you want the funds sent. The Treasury will process the request and deposit the money within one to two business days.

This method is free and requires no forms or mailing. You do not need to visit a bank or provide a physical ID at the time of redemption, though you will have already verified your identity when you created your TreasuryDirect account. The funds go directly to the bank account linked to your Treasury account, so make sure that account information is current before you redeem.

If you have forgotten your TreasuryDirect password, you can reset it using your Social Security number and email address. If you no longer have access to the email address you used to open the account, contact the Treasury's customer service line at 844-284-2676 to update your account before attempting to redeem.

Mailing bonds to the Bureau of the Fiscal Service

Download and complete FS Form 1522 (Request for Payment of Savings Bonds) from the Treasury website. Include your bond certificate, a photocopy of your ID, and the completed form in an envelope. Mail everything to the Bureau of the Fiscal Service, Parkersburg, WV 26106-1328. Do not send the original ID — send a copy only.

Processing takes two to four weeks from the date the Bureau receives your package. The Treasury will mail a check to the address on file with your bond. If you want the funds deposited directly to a bank account instead, include a voided check or a letter from your bank with your routing and account numbers.

Use certified mail with a return receipt so you have proof of delivery. Keep a copy of the form and a list of the bonds you are redeeming for your records. If you are cashing multiple bonds, list them all on one form rather than sending separate packages.

What you need to bring or provide

For in-person redemption at a bank, bring the physical bond certificate and a valid government-issued ID (driver's license, passport, or state ID). If the bond is in someone else's name but you are listed as a co-owner, bring both your ID and documentation showing the co-ownership — usually the bond certificate itself shows this.

For TreasuryDirect redemptions, you need only your login credentials and access to the email address associated with your account. You do not need to provide ID at the time of redemption.

For mailing, include the bond certificate, a photocopy of your ID, and the completed FS Form 1522. If the bond is in a deceased person's name, include a certified copy of the death certificate and proof that you are the authorized heir or executor — requirements vary, so contact the Treasury first.

Timing and penalties for early redemption

Savings bonds can be redeemed anytime after one year of purchase. However, if you redeem before five years have passed, you lose the last three months of interest. For example, if you redeem a bond at 4 years and 11 months, you receive interest only through 4 years and 8 months.

Series I bonds have an additional consideration: the interest rate changes every six months. If you redeem during the first six months of ownership, you receive no interest at all. After that, the three-month penalty applies as usual.

There is no federal penalty for early redemption beyond the lost interest. However, if the bond was issued before May 2003, check the bond itself for any state-specific restrictions — some older bonds had limits on when they could be cashed.

Handling bonds in someone else's name

If a bond is in your name but lists another person as a co-owner, you can usually redeem it without their permission. The bond certificate will specify whether both owners must sign or whether either owner can redeem it alone. Bring the certificate to your bank so they can verify the ownership structure.

If a bond is entirely in someone else's name and you are not listed as a co-owner, you cannot redeem it. If the original owner has died, you will need to provide a certified death certificate and proof of your authority as an heir or executor. Contact the Bureau of the Fiscal Service at 844-284-2676 to learn what documents they require for your specific situation.

If a bond was issued to a minor and that person is now an adult, they can redeem it themselves using their own ID. If the minor is still under 18, a parent or legal guardian must redeem it on their behalf.

Frequently Asked Questions

What if I lost my savings bond certificate?

Contact the Bureau of the Fiscal Service at 844-284-2676 or visit treasurydirect.gov to request a replacement certificate. You will need to provide your Social Security number, the bond series and denomination, and the approximate issue date. The Treasury will mail a replacement, which you can then take to your bank to cash. This process takes two to four weeks.

Can I cash a savings bond at any bank, or only the one where I have an account?

Most banks will cash savings bonds even if you do not have an account there, but policies vary. Call ahead to confirm. If a bank declines, try another bank in your area, use TreasuryDirect if the bond is digital, or mail the bond to the Treasury.

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

Yes. The interest earned on savings bonds is subject to federal income tax. You do not pay tax at the time of redemption, but you must report the interest on your tax return for the year you cash the bond. State and local taxes may also apply depending on where you live.

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

At a bank: minutes to an hour. Through TreasuryDirect: one to two business days. By mail to the Treasury: two to four weeks. The fastest option is always your bank if they offer the service.

What if my bank says they cannot verify the bond?

Older bonds or bonds from certain issuers can be harder to verify. Ask the bank whether they can contact the Treasury on your behalf, or take the bond directly to the Treasury by mail. Do not leave the bond with the bank — take it with you and try another institution or use the mail-in method.