Banks and credit unions are the fastest option, but the U.S. Treasury and your bond issuer also accept redemptions
You can cash an EE savings bond at a bank, credit union, or directly through the U.S. Treasury. Banks and credit unions are usually fastest — most will redeem them same-day or within a few business days if you have an account there. The Treasury takes longer (typically two to four weeks by mail) but works if you no longer bank where you bought the bond. Some employers that issued bonds through payroll savings plans also redeem them directly.
The method you choose depends on whether you have an account at a financial institution, how quickly you need the money, and whether your bonds are paper or digital. Paper bonds and digital bonds (held in TreasuryDirect) have different redemption paths, and mixing them up can delay your cash.
Key Takeaways
- Your bank or credit union will cash EE bonds same-day or within a few business days if you have an account there and bring the physical bond and ID.
- The U.S. Treasury redeems bonds by mail in two to four weeks and does not require you to have a bank account, but you must mail the bond itself.
- Digital bonds held in TreasuryDirect can only be redeemed through your TreasuryDirect account online; you cannot take them to a bank.
- Paper bonds must be signed in front of a bank employee or notary before redemption, and some banks charge a small fee for this service.
- Your employer's payroll savings plan administrator can sometimes redeem bonds directly, but only if you bought them through that program.
Cashing paper bonds at your bank or credit union
If you have a paper EE bond and a checking or savings account, your bank or credit union is the easiest route. Bring the physical bond, a government-issued photo ID, and your account information. The teller will verify the bond, have you sign it in front of them (or a notary if the bank requires it), and process the redemption. Most banks complete this same-day or within one to three business days, and the money goes directly into your account.
Not all banks charge the same fee for this service. Some waive it for account holders; others charge $5 to $15 to witness the signature or process the redemption. Call your bank's main branch before you go to ask whether they redeem savings bonds and what the fee is. Credit unions often charge less or nothing at all if you are a member.
If you do not have an account at the bank where you want to redeem, some banks will still do it for a higher fee (typically $15 to $25), but you will need to ask first. Bring the bond and ID, and be prepared to wait longer — they may require additional verification.
Redeeming digital bonds through TreasuryDirect
If your EE bonds are digital and held in a TreasuryDirect account, you cannot take them to a bank. You must redeem them online through your TreasuryDirect account at treasurydirect.gov. Log in, navigate to "Manage My Securities," select the bond you want to redeem, and follow the prompts. The Treasury transfers the money to your linked bank account within one to two business days.
You will need your TreasuryDirect login credentials and a linked bank account. If you have forgotten your password or do not remember setting up the account, you can reset it using your Social Security number and email address. The redemption is instant in the system, but the actual deposit into your bank account takes a day or two depending on your bank's processing speed.
Mailing bonds directly to the U.S. Treasury
If you do not have a bank account or prefer not to use one, you can mail your paper EE bonds to the Treasury for redemption. Send them to the Bureau of the Fiscal Service, Parkersburg, WV 26106-1328. Include a letter stating your name, address, Social Security number, the bond serial numbers, and the amount you expect to receive. Sign the letter and include a copy of your ID (front and back).
The Treasury will verify the bonds and mail you a check to the address you provide. This process typically takes two to four weeks. Do not send the bonds by regular mail without tracking — use certified mail with return receipt so you have proof of delivery. Keep a copy of your letter and ID for your records.
This method is slower than a bank but works if you have no account or cannot reach a bank that redeems bonds. The Treasury does not charge a fee for this service.
Redeeming bonds through your employer's payroll savings plan
If you bought EE bonds through an employer payroll savings plan, your company's benefits administrator or plan sponsor may redeem them directly. Contact your HR or benefits department and ask whether they handle bond redemptions. If they do, you typically fill out a form, provide the bond serial numbers, and the administrator processes the redemption and deposits the money into your paycheck or a separate check.
This option is convenient if your employer still administers the plan, but many companies have discontinued payroll savings programs. If your employer no longer runs the program, you will need to use one of the other methods above. Ask your benefits department for the name of the current plan administrator if your company transferred the program to a third party.
What you need to bring or provide for each method
| Method | What You Need | Processing Time | Cost |
|---|---|---|---|
| Bank or credit union | Physical bond, government ID, account information | Same-day to 3 business days | $0–$15 for account holders; $15–$25 for non-account holders |
| TreasuryDirect online | TreasuryDirect login, linked bank account | 1–2 business days | Free |
| U.S. Treasury by mail | Physical bond, letter with personal info, copy of ID | 2–4 weeks | Free |
| Employer payroll plan | Bond serial numbers, completed redemption form | Varies by employer | Usually free |
Signature requirements and notarization
Paper EE bonds must be signed by the owner before they can be redeemed. If you are the sole owner, you sign the bond in front of a bank employee or notary public. If the bond has two owners or a beneficiary, both owners must sign, or the surviving owner must sign if one owner has died. The bank will not redeem a bond with missing or mismatched signatures.
Most banks have a notary on staff or can direct you to one nearby. Notary fees range from $5 to $15 per signature. If you are redeeming through the Treasury by mail, you do not need a notary — your signature on the letter is sufficient, but it must match the name on the bond exactly.
Frequently Asked Questions
Can I cash an EE bond before it reaches final maturity?
Yes. EE bonds can be redeemed at any time after one year of ownership, though you will lose the last three months of interest if you cash it before five years have passed. After five years, you receive the full accrued interest. Check your bond's issue date to see how much interest you will receive.
What if my paper bond is damaged or I lost it?
Contact the Bureau of the Fiscal Service at 844-284-2676 or visit treasurydirect.gov to report a lost or damaged bond. You will need the serial number, issue date, and denomination. They can issue a replacement or process a redemption claim, but it takes several weeks.
Do I have to pay taxes when I cash an EE bond?
Yes. The interest earned on EE bonds is subject to federal income tax. You will receive a Form 1099-INT from the issuer showing the interest amount, which you report on your tax return. State and local taxes may also apply depending on where you live.
Can someone else cash my bond if I give them permission?
No. Only the registered owner can redeem a bond, or a surviving owner if the original owner has died. A power of attorney or written permission is not enough. If you are unable to sign, a legal guardian or conservator may redeem it with court documentation.
What happens if the bank refuses to redeem my bond?
Banks can refuse if the signature does not match the registration, the bond is damaged beyond verification, or they do not offer bond redemption services. If this happens, contact the Treasury directly by mail or call 844-284-2676 to redeem it yourself.