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

The place you cash a bond depends on what kind of bond you have and who issued it. U.S. Savings Bonds (Series EE and Series I) can be cashed at most banks and credit unions, or you can redeem them online through TreasuryDirect if you own them electronically. Corporate bonds and municipal bonds typically require a brokerage account or a call to the issuing company. The fastest option is usually your own bank if you have an account there, since they already know you.

The process is straightforward once you know where to go, but the location matters because different institutions have different rules about which bonds they will accept and whether they charge fees. Understanding your options upfront saves you a trip and keeps you from paying unnecessary costs.

Key Takeaways

  • U.S. Savings Bonds can be cashed at most banks and credit unions, or redeemed directly through TreasuryDirect online if you own them electronically.
  • Your own bank is often the fastest option if you have an account there, since they can verify your identity immediately.
  • Corporate and municipal bonds require either a brokerage account or contact with the company that issued them.
  • Some banks charge fees to cash bonds they did not issue, so calling ahead to confirm the fee and whether they accept that bond type saves time.
  • If a bond is registered in your name, you will need to bring it in person with a photo ID; if it is a bearer bond, you can typically mail it.

Cashing Savings Bonds at a Bank or Credit Union

Most banks and credit unions will cash U.S. Savings Bonds for their account holders at no charge. Bring the bond itself, your photo ID, and your account number. The teller will verify that the bond is genuine, check that it has reached maturity (or that you are past the minimum holding period), and deposit the cash into your account or give it to you in person.

If you do not have an account at the bank, many will still cash the bond, but some charge a fee — typically $5 to $15 — and a few refuse altogether. Call the bank's main number before you go and ask whether they cash savings bonds for non-customers and what the fee is. Credit unions are often more flexible with this than large national banks, especially if you live in the area they serve.

Bring the physical bond certificate with you. Banks cannot cash bonds based on a description or a photo; they need to see and handle the actual document. If the bond is registered in your name, you will need a photo ID that matches the registration. If it is a bearer bond (an older type with no name on it), you do not need ID, but the bank may still ask for one.

Redeeming Savings Bonds Through TreasuryDirect Online

If you own Series EE or Series I Savings Bonds through TreasuryDirect — the U.S. Treasury's online system — you can redeem them without leaving home. Log into your TreasuryDirect account, select the bond you want to redeem, and confirm the transaction. The money goes directly into your bank account within one to three business days.

This option is only available if your bonds are held electronically in TreasuryDirect. If you have a paper certificate, you cannot redeem it online; you must take it to a bank or credit union or mail it to the Treasury. To check whether your bonds are in TreasuryDirect, log into your account at treasurydirect.gov or call the TreasuryDirect customer service line.

TreasuryDirect redemptions are free and do not involve any fees or waiting in line. The trade-off is that you need internet access and a TreasuryDirect account set up in advance. If you do not have one, setting it up takes a few days, so this is not an option if you need the money immediately.

Mailing Bonds to the Treasury

If you cannot get to a bank or prefer not to, you can mail your Savings Bond directly to the Treasury. Print the form FS Form 1522 (Statement Regarding Destruction of U.S. Savings Bonds) from treasurydirect.gov, sign it, and mail it along with your bond to the address listed on the form. Include a letter stating the amount you want to redeem and the bank account where you want the money deposited.

This method takes longer — typically two to four weeks — because the Treasury has to receive your package, verify the bond, process the redemption, and send the money. There is no fee, but you lose the speed of an in-person transaction. Use this route only if you have time to wait or if you live far from any bank that will cash bonds.

Keep a copy of everything you mail, and consider using certified mail so you have proof of delivery. The Treasury receives thousands of bond redemptions by mail each month, and while they rarely lose documents, having a record protects you if something goes wrong.

Cashing Corporate and Municipal Bonds

Corporate bonds and municipal bonds cannot be cashed at a bank the way Savings Bonds can. Instead, you need either a brokerage account or you must contact the company or municipality that issued the bond directly.

If you own the bond through a brokerage account (at firms like Fidelity, Charles Schwab, or Vanguard), you can sell it through your account or request that the brokerage redeem it at maturity. The brokerage handles the transaction and deposits the proceeds into your account. If you own a physical certificate, call the issuer's investor relations department and ask how to redeem it. They will tell you where to mail it or whether they have another process.

Some corporate bonds can be sold on the secondary market before maturity, which means you can sell them to another investor through a broker rather than waiting until the bond matures. Municipal bonds work the same way. This is useful if you need the money before the bond's maturity date, though the price you receive may be more or less than what you paid, depending on interest rates and the issuer's credit quality.

What to Bring and How to Prepare

For a Savings Bond at a bank or credit union, bring the bond itself, a photo ID, and your account number if you have one at that institution. Do not bring a copy or a photo — banks need the original document. If the bond is in a safe deposit box, you will need to retrieve it first.

If the bond is registered in someone else's name but you are authorized to cash it (for example, as a parent or guardian), bring documentation of that authority. If the bond names two owners, both may need to be present, or you may need a notarized letter from the other owner authorizing you to redeem it. Call the bank ahead of time to ask what they require.

For TreasuryDirect, you need only your login credentials and a bank account to receive the funds. For mailed redemptions, you need the bond, the completed form, and a letter with your instructions. For corporate or municipal bonds, contact the issuer or your broker to find out what documents they need.

Fees and Timing to Expect

Cashing a Savings Bond at your own bank is free and takes minutes. Cashing it at a bank where you do not have an account may cost $5 to $15, and some banks refuse to do it at all. TreasuryDirect redemptions are free and take one to three business days. Mailing to the Treasury is free but takes two to four weeks.

For corporate and municipal bonds, fees depend on how you redeem them. If you sell through a brokerage, you may pay a small commission or trading fee, typically $0 to $10 per transaction at most modern brokers. If you redeem directly with the issuer at maturity, there is usually no fee.

Plan ahead if you need the money by a specific date. If you have a paper Savings Bond and need cash within a week, your bank is your only option. If you have time and own bonds through TreasuryDirect, redeeming online is fastest and cheapest.

Frequently Asked Questions

Can I cash a bond that is not in my name?

Only if you are listed as an authorized owner or beneficiary on the bond. If someone else owns the bond and wants you to cash it, they need to sign a power of attorney or a letter authorizing you, which you will need to have notarized. The bank will ask for this documentation before they process the redemption.

What if I lost my bond certificate?

Contact TreasuryDirect or the bank where you bought it and report it lost. You can request a replacement certificate or, if the bond is in TreasuryDirect, you can redeem it online without the physical certificate. If it was a paper bond bought long ago, you may need to file a claim with the Treasury and provide proof of purchase.

Can I cash a bond before it matures?

Savings Bonds can be redeemed early, but you will lose the last three months of interest if you cash it less than five years after purchase. After five years, you get all accrued interest. Corporate and municipal bonds can usually be sold before maturity, but the price depends on current interest rates and may be less than you paid.

Do I have to cash the entire bond at once?

For Savings Bonds, yes — you redeem the whole bond or none of it. For corporate and municipal bonds, you can sell part of your holding if you own multiple bonds, but each individual bond is an all-or-nothing transaction.

What happens if the bank says they will not cash my bond?

Ask why — it may be that the bond type is uncommon or that the bank has a policy against cashing bonds they did not issue. If that is the case, take the bond to a different bank, try a credit union, or redeem it through TreasuryDirect or by mail. You always have an option; some institutions are just more restrictive than others.