You can redeem savings bonds at most banks, credit unions, and the U.S. Treasury

The easiest place to cash a savings bond is your own bank or credit union. Most financial institutions will redeem Series EE and Series I bonds without charging a fee, as long as you have an account there. You'll need to bring the physical bond certificate, a valid ID, and sign the back of the bond in front of a bank employee or notary. The process usually takes a few minutes, and you'll get the money the same day or within one business day.

If you don't have a bank account or your bank won't redeem the bond, you can mail the bond directly to the U.S. Treasury's Bureau of the Fiscal Service. This takes longer—typically two to four weeks—but it's free and works for any bond. You'll need to fill out Form PD 1522 (for Series EE bonds) or Form PD 1523 (for Series I bonds), include a copy of your ID, and mail everything to the address listed on the form. The Treasury will send you a check to the address on file.

Key Takeaways

  • Your bank or credit union is the fastest way to redeem a bond; bring the certificate, ID, and sign it in front of a bank employee.
  • The U.S. Treasury will redeem bonds by mail if you fill out the correct form and include a copy of your ID, though it takes two to four weeks.
  • Some banks may refuse to redeem bonds they didn't issue, so calling ahead saves a trip.
  • You must have the physical bond certificate to redeem it; digital bonds held through TreasuryDirect have a different redemption process.

What banks will and won't redeem

Most national banks and regional credit unions will redeem savings bonds, but policies vary. Large banks like Bank of America, Wells Fargo, and Chase typically redeem bonds for account holders. Credit unions often redeem bonds for members regardless of where the bond was issued. However, some smaller banks or credit unions may decline to redeem bonds they didn't sell, especially if the bond is very old or the amount is large.

Call your bank before you go in. Ask whether they redeem savings bonds and whether you need to be an account holder. If your bank won't do it, ask if they can refer you to another branch or institution that will. This one phone call prevents a wasted trip.

Redeeming bonds through TreasuryDirect

If you own a Series I or Series EE bond purchased through TreasuryDirect (the Treasury's online platform), you don't have a physical certificate. Instead, you redeem the bond directly through your TreasuryDirect account. Log in, select the bond you want to redeem, and request the redemption. The money goes into the bank account linked to your TreasuryDirect account, usually within one to two business days.

You can only redeem TreasuryDirect bonds through that account—you cannot take a physical certificate to a bank because none exists. If you've forgotten your TreasuryDirect login, you'll need to reset your password or contact the Treasury's customer service line at 844-284-2676.

What you need to bring to the bank

Bring three things: the bond certificate itself, a valid government-issued ID (driver's license, passport, or state ID), and nothing else. Do not mail the bond to yourself or send it ahead. Bring it in person, because the bank employee will watch you sign the back of the bond. If someone else is redeeming the bond on your behalf, that person must bring a power of attorney or a notarized letter from you authorizing them to do so.

If the bond is in two names (yours and a spouse's, for example), both people should be present, or one person should bring a notarized authorization from the other. Rules for co-owned bonds vary slightly by bank, so ask when you call ahead.

Redeeming bonds by mail to the Treasury

Download Form PD 1522 (for Series EE bonds) or Form PD 1523 (for Series I bonds) from the Treasury's website. Fill out the form completely, including your name, address, Social Security number, and the bond's serial number and issue date. Make a photocopy of your ID (front and back), and mail both the form and the copy to the Bureau of the Fiscal Service at the address on the form.

Include a note with the bond itself if you're mailing the physical certificate, or just the form and ID copy if you're redeeming through TreasuryDirect. The Treasury will send a check to the address you provide. This method is free but slow—allow four to six weeks from the time they receive your mail.

What happens if your bond is lost or damaged

If you've lost the physical certificate, you can still redeem it through the Treasury by mail. Include a statement explaining that the bond is lost, along with as much information as you can remember: the series (EE or I), the issue date, the denomination, and your name as it appears on the bond. The Treasury will search their records and may be able to redeem it, though the process takes longer.

If the bond is damaged but readable, most banks will still accept it. If it's so damaged that the serial number or issue date is illegible, mail it to the Treasury with a note explaining the damage. Do not attempt to repair or tape the bond yourself.

Redeeming bonds held in a trust or estate

If you're redeeming a bond that belonged to someone who has died, the process depends on whether the bond was in a trust, held in an estate, or simply in the deceased person's name. If the bond is in a trust and you are the trustee, bring the trust document and your ID to the bank. If the bond is part of an estate being probated, you'll need a letter from the probate court or the estate's executor authorizing you to redeem it.

For bonds in a deceased person's name alone, contact the Treasury directly—they have specific procedures for these situations and will tell you what documents you need. This is one case where mailing to the Treasury is often simpler than trying to work through a bank.

Frequently Asked Questions

Can I redeem a savings bond at any bank, or only the bank that issued it?

Most banks will redeem bonds regardless of where they were issued, but some smaller banks or credit unions may decline. Call ahead to confirm. Credit unions are often more flexible than banks about redeeming bonds from other institutions.

What if I don't know the serial number or issue date of my bond?

The serial number and issue date are printed on the bond certificate itself. If you can't find the certificate, you can contact the Treasury at 844-284-2676 or search your records for the purchase confirmation. The Treasury can sometimes locate bonds based on your name and Social Security number.

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

At a bank, you get the money the same day or within one business day. By mail to the Treasury, allow four to six weeks. TreasuryDirect redemptions typically post to your linked bank account within one to two business days.

Can I redeem only part of a savings bond?

No. Savings bonds are redeemed in full. You cannot cash in half of a bond and keep the other half. If you need only part of the value, you'll have to redeem the entire bond and deposit the full amount.

What if my bond hasn't reached face value yet?

You can still redeem it, but you'll receive less than the amount printed on the certificate. Series EE bonds take 20 years to reach face value, and Series I bonds earn interest monthly. Redeeming early means you get the current value, not the printed value. The bank or Treasury will tell you the exact amount before you complete the redemption.