Your bank is usually the fastest place to cash savings bonds, but not every bank will do it

Most banks and credit unions will cash Series EE and Series I savings bonds for you on the spot, but you need to bring the physical bond certificate and a government-issued ID. Call ahead to confirm your specific branch handles bond redemptions — some larger branches do, but smaller ones may not. If your bank declines, the U.S. Treasury can cash them directly, though that takes two to four weeks by mail.

The key difference between routes is speed versus convenience. A bank teller can hand you cash in minutes. The Treasury requires you to mail the bonds and wait, but they will cash any bond issued by the U.S. government, and you do not need to be a customer of anything.

Key Takeaways

  • Call your bank or credit union first to confirm they cash savings bonds, because not all branches offer this service.
  • Bring the original bond certificate and a government-issued ID (driver's license, passport, or state ID) to cash bonds in person.
  • If your bank will not cash them, mail the bonds to the Treasury's Bureau of the Fiscal Service with a completed FS Form 1522, which takes two to four weeks.
  • You can also cash bonds at a Federal Reserve Bank branch if one is near you, though this is slower than a local bank.
  • Never mail bonds directly to a bank without first confirming they accept them by mail — most do not.

How to cash bonds at your bank or credit union

Walk in with the bond certificate itself (not a photocopy), your government-issued ID, and ask to speak with someone in customer service or the teller line. They will verify the bond is genuine, check that it has matured or that you are the registered owner, and process the redemption. You will receive the cash value minus any applicable taxes withheld (though savings bonds are not subject to federal withholding at redemption).

Some banks charge a small fee to redeem bonds — typically $5 to $15 — so ask before you hand over the certificate. If the fee seems high, the Treasury route costs nothing but takes longer. Bring the original bond only; banks will not accept copies or digital images.

Using the U.S. Treasury to cash bonds by mail

If no bank near you will cash the bonds, or if you prefer not to visit in person, you can mail them directly to the Bureau of the Fiscal Service. You will need to complete FS Form 1522 (the Savings Bond Redemption Request form), which you can download from treasurydirect.gov or request by phone at 844-284-2676.

Include the completed form, the original bond certificates, and a copy of your ID. Mail everything to the address listed on the form — currently the Bureau of the Fiscal Service, Parkersburg, WV 26106-1328. The Treasury will mail you a check within two to four weeks. Do not send bonds via overnight courier or registered mail; regular mail is fine and safer.

Federal Reserve Bank branches and other options

If you live near a Federal Reserve Bank branch, you can redeem bonds there in person. However, most people do not live near one, and the process is not faster than a bank. You still need the original certificate and ID, and you will receive a check rather than cash on the spot.

Some brokerage firms that hold savings bonds in electronic form (through TreasuryDirect) can redeem them for you, but this applies only to bonds you own digitally, not paper certificates. If your bonds are paper, your bank or the Treasury are your main options.

What to bring and what to expect

Bring the original bond certificate, your government-issued ID (driver's license, passport, state ID, or military ID), and know the bond's series and issue date if possible. The teller or processor will ask you to sign the back of the bond in their presence. If the bond is registered to two people, both owners may need to be present, depending on how it was registered — call ahead to confirm.

The redemption is immediate at a bank. You will receive the full current value of the bond, which includes all accrued interest up to that day. The bank will not withhold federal income tax, but you will owe tax on the interest when you file your return. Keep your receipt for your records.

Bonds that have not matured yet

Series EE bonds reach final maturity after 30 years, and Series I bonds after 30 years as well. You can cash them before maturity, but Series EE bonds less than five years old will lose the last three months of interest as a penalty. Series I bonds have no early-redemption penalty after one year, but if you cash them before five years, you lose the last three months of interest.

Ask the bank or Treasury whether the bond has reached the five-year mark before you redeem it. If it has not, you may want to wait unless you need the money urgently. The penalty is automatic and applies regardless of where you cash the bond.

If you cannot find the original certificate

If you have lost the paper bond, you cannot cash it at a bank. You will need to contact the Treasury directly at 844-284-2676 or visit treasurydirect.gov to file a claim for a lost or stolen bond. The process takes several weeks and requires proof of ownership (such as old tax returns showing the bond, or bank statements from when you purchased it).

If the bond was issued through a payroll savings plan or a financial institution, contact that organization first — they may have a record of it and can help you locate it or file a replacement claim. Keep documentation of any bonds you own, including the series, denomination, and issue date.

Frequently Asked Questions

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 are not a customer, but call ahead to confirm. Some branches handle redemptions and others do not. If your bank declines, try a larger branch nearby or use the Treasury by mail.

What if the bond is registered to someone who has passed away?

If the bond is registered to a deceased person and you are the beneficiary or estate executor, you will need to provide a death certificate and proof of your authority (such as letters testamentary). Contact the Treasury at 844-284-2676 for instructions, as the process varies by state and the bond's registration.

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

You will owe federal income tax on the interest earned, but the bank does not withhold it at redemption. You 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 if I mail the bonds to the Treasury?

The Treasury typically mails a check within two to four weeks of receiving your request. Mail takes a few days each way, so plan for four to six weeks total from the time you drop the envelope in the mail.

What if I only want to cash some of my bonds, not all of them?

You can redeem individual bonds or groups of bonds. Just bring the specific certificates you want to cash and leave the others at home. The bank or Treasury will process only the ones you submit.