Your bank or credit union is usually the fastest place to cash a savings bond

Most banks and credit unions will cash savings bonds for their customers at the teller window, often the same day you walk in. You do not need to have held an account there for years — many will cash bonds even if you are not a member, though they may charge a small fee or require you to open an account. Call ahead to confirm they cash bonds and ask whether they need the bond in person or can process it by mail.

Bring the physical bond itself, your government-issued ID, and your Social Security number. The teller will verify the bond's serial number and current value, then hand you cash or deposit it into an account. Processing takes minutes to a few hours. If your local branch does not cash bonds, ask if another branch in the same bank system does — larger regional banks almost always have at least one location that handles them.

Key Takeaways

  • Your own bank or credit union is the fastest option and will usually cash a bond the same day without an appointment.
  • You need the physical bond, a government-issued ID, and your Social Security number to cash a bond in person.
  • If your bank will not cash bonds, the U.S. Treasury's TreasuryDirect website or a Federal Reserve Bank can process them by mail.
  • Savings bonds purchased before May 2003 must be cashed in person or by mail — they cannot be redeemed online.
  • Some banks charge a fee to cash bonds if you are not a customer, so ask about costs before you hand over the bond.

The U.S. Treasury can cash bonds by mail if no bank near you will do it

If you cannot find a bank or credit union willing to cash your bond, you can mail it directly to the U.S. Treasury. Send the physical bond, a completed FS Form 1522 (Request for Payment of Savings Bond), a copy of your ID, and a cover letter with your name and address to the Bureau of the Fiscal Service in Parkersburg, West Virginia. The address is on the form itself.

Processing by mail takes four to six weeks. You will receive a check in the mail. This route works for any savings bond, including older ones issued decades ago. The Treasury does not charge a fee. Request the form at treasurydirect.gov under "Savings Bonds" or call the Savings Bond Operations Center at 844-284-2676.

Federal Reserve Banks cash bonds by mail for free

Any of the 12 Federal Reserve Banks across the country will cash a savings bond by mail at no charge. You mail the bond, a completed FS Form 1522, a copy of your ID, and a cover letter to the Federal Reserve Bank in your region. The processing time is similar to the Treasury — four to six weeks.

To find the Federal Reserve Bank serving your state, go to federalreserve.gov and look for the regional bank map. Each bank's website lists its mailing address for bond redemptions. This option is useful if you prefer dealing with a regional office rather than the national Treasury office, though the outcome is identical.

Online redemption through TreasuryDirect for bonds issued after May 2003

If you own a savings bond issued on or after May 2003 and it is registered in your TreasuryDirect account, you can redeem it online without leaving home. Log into your account at treasurydirect.gov, select the bond you want to cash, and request redemption. The money goes directly to your linked bank account within one to three business days.

This is the fastest method available, but it only works if the bond was purchased through TreasuryDirect (the Treasury's online system) and is still registered there. Bonds bought in paper form at banks or through payroll savings plans before 2003 cannot be redeemed online. If you are unsure whether your bond is in TreasuryDirect, log in and check your holdings, or call 844-284-2676.

What to bring when you cash a bond in person

Bring three things: the physical savings bond itself, a government-issued photo ID (driver's license, passport, or state ID), and your Social Security number. The teller will need to see the bond to verify its series, denomination, and serial number. Your ID confirms you are the person named on the bond.

If you are cashing a bond on behalf of someone else — a deceased relative's estate, for example — bring the bond, your ID, and the legal document that gives you authority (a will, power of attorney, or court order). Banks have different rules for bonds held in estates, so call ahead to ask what paperwork they need.

Older paper bonds and special cases

Savings bonds issued before 2003 exist only as paper certificates. These must be cashed in person at a bank or by mail through the Treasury or a Federal Reserve Bank. You cannot redeem them online. If you have a paper bond and cannot find a local bank willing to cash it, the mail route is your only option.

If a bond has been lost, stolen, or damaged, you cannot cash it directly. Contact the Treasury at 844-284-2676 or file a claim through TreasuryDirect if it was registered there. The process takes several weeks and requires proof of ownership. If the bond is simply old and you are unsure of its current value, the Treasury website has a savings bond calculator — enter the series, denomination, and issue date to see what it is worth today.

Frequently Asked Questions

Can I cash a savings bond at any bank, or only my own bank?

Most banks will cash a savings bond even if you are not a customer, though some charge a fee for non-members. Call ahead to ask. If your bank refuses, try a larger regional bank or credit union — they are more likely to have the systems in place to verify and process bonds.

What if my name on the bond does not match my current ID?

Bring both the old ID (if you still have it) and your current ID to show the name change. Banks see this regularly with married names or legal name changes. If you cannot produce the old ID, the bank may ask for a marriage certificate or court order documenting the change.

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

In person at a bank, you get cash or a deposit the same day. By mail through the Treasury or Federal Reserve, allow four to six weeks. Online through TreasuryDirect, the money reaches your bank account in one to three business days.

Can I cash a savings bond that matured years ago?

Yes. Savings bonds do not expire and can be cashed at any time, even decades after they stop earning interest. The value you receive is what the bond was worth on the day it stopped earning, which you can calculate on the Treasury website.

What happens if I lose the physical bond before I cash it?

Contact the Treasury at 844-284-2676 to report it lost. You will need to file a claim with proof of ownership — the original purchase receipt or a statement from TreasuryDirect if it was registered there. The process takes several weeks and the Treasury will issue a replacement or payment once the claim is approved.