The three places to cash bonds and which one is fastest
You can cash a bond at your bank, through the U.S. Treasury, or at a credit union if you're a member. Your bank is usually the quickest option if you have an account there — most process bonds the same day or next business day. The Treasury's official route takes longer but works if your bank won't do it. Credit unions often cash bonds for members at no fee, though availability depends on your institution.
The method you choose depends on what type of bond you hold, whether you have the physical certificate or a digital record, and how quickly you need the money. Series EE and I bonds (the most common savings bonds) can be cashed at any of these three places. Treasury bonds and other types have different rules, so knowing what you own matters before you walk in.
Key Takeaways
- Banks cash savings bonds the same day or next business day if you have an account there and bring the bond certificate or digital access information.
- The U.S. Treasury will cash any bond you own, but the process takes two to four weeks by mail and requires you to fill out Form PD F 1522.
- Credit unions often cash bonds for members at no cost, and some will do it while you wait if you have proof of ownership.
- You need either the physical bond certificate or proof that you own the bond in the Treasury's digital system (TreasuryDirect) to cash it anywhere.
- Bonds held in a minor's name require the parent or guardian to sign, and some banks will not cash them without a court order.
Cashing bonds at your bank
Call your bank first and ask whether they cash savings bonds. Most large banks do, but some smaller institutions or online-only banks do not. If they do, ask what documents you need to bring and whether you can do it in person or by mail.
Bring the physical bond certificate if you have it, along with a photo ID. If your bond is registered in TreasuryDirect (the Treasury's online system), bring proof that you own it — usually a printout of your account or a statement showing the bond. The bank will verify the bond is real, check that it has matured or that you meet the early redemption rules, and give you the cash or deposit it to your account. This usually happens the same day or the next business day.
Banks may charge a small fee to cash a bond, typically $5 to $15, though many waive it for account holders. Ask before you hand over the bond. If your bank refuses to cash it or charges a high fee, you have other options — do not assume you are stuck.
Cashing bonds through the U.S. Treasury
You can mail a bond directly to the Treasury or submit a request through TreasuryDirect if the bond is registered there. This route takes longer — usually two to four weeks — but it works for any bond you own, even if no bank will touch it.
For a physical bond certificate, fill out Form PD F 1522 (the official redemption form), sign it, and mail it with the certificate to the address listed on the form. The Treasury will send you a check by mail. Do not send the original bond unless the form instructions require it; some bonds can be cashed by submitting a copy and keeping the original.
If your bond is in TreasuryDirect, log into your account, select the bond, and request redemption. The money goes into the bank account linked to your TreasuryDirect profile within a few business days. This is the fastest Treasury method and requires no paperwork beyond clicking a button.
Cashing bonds at a credit union
Credit unions often cash savings bonds for members at no fee, and some will do it while you wait. Call your credit union and ask whether they offer this service. Not all do, and policies vary widely.
If they do cash bonds, bring the certificate and a photo ID, just as you would at a bank. Some credit unions will also cash bonds for non-members, but they may charge a fee or require you to open an account. The process is usually the same day, making it competitive with banks for speed.
What to do if you have a physical certificate but lost the bond
If you own a bond but cannot find the physical certificate, you can still cash it. Contact the Treasury's Bureau of the Fiscal Service at 1-844-284-2676 or visit treasurydirect.gov. They can search their records by your Social Security number and the bond's series and denomination.
If they find it in their system, they can issue a replacement certificate or allow you to redeem it directly. If the bond is not in their records, you may need to file a claim or provide proof of purchase (like a receipt or bank statement showing the purchase). This process takes longer than a simple redemption, so plan for several weeks.
Bonds held in a minor's name or as a gift
If a bond is registered in a child's name, the parent or legal guardian must sign the redemption form or be present when cashing it at a bank. Some banks will not cash bonds in a minor's name without a court order proving guardianship, especially if the child is old enough to sign but the parent is cashing it.
If you received a bond as a gift and it is registered in the original owner's name, you cannot cash it — the registered owner must do so. You can ask the owner to cash it and give you the money, or they can transfer ownership to you through TreasuryDirect (if it is a digital bond) or by submitting a form to the Treasury. Ownership transfers take time, so this is not a quick fix if you need the money soon.
Comparing the three routes by speed and cost
The fastest way to get cash is through your bank or credit union if you have a local account and the bond certificate or TreasuryDirect access. Both typically complete the transaction the same day or next business day, though banks may charge a small fee while credit unions usually do not. If you need the money within a day or two, this is your best route.
| Route | Speed | Cost | What You Need |
|---|---|---|---|
| Bank | Same day or next business day | $0–$15 fee (often waived) | Certificate or TreasuryDirect proof + photo ID |
| Treasury by mail | 2–4 weeks | No fee | Form PD F 1522 + certificate (or copy) |
| TreasuryDirect online | Few business days | No fee | TreasuryDirect login |
| Credit union | Same day or next business day | $0 (usually) | Certificate + photo ID + membership |
If you can wait a few weeks and want to avoid any fee, use TreasuryDirect or mail the form to the Treasury. If your bank refuses to cash the bond, the Treasury is your backup — they will not turn you away, no matter how old the bond is or what type it is.
Frequently Asked Questions
Can I cash a bond before it matures?
Series EE and I bonds can be cashed after one year, though you lose the last three months of interest if you cash before five years. Other bond types have different rules. Check the bond's terms or call the Treasury to confirm when you can cash yours without penalty.
What if the bond is in someone else's name and they are deceased?
You will need to prove you are the executor or heir. Contact the Treasury with a death certificate and proof of your legal claim. The process is slower than a normal redemption and may require court documents. A lawyer familiar with estate matters can guide you through this.
Do I need to report the cash when I cash a bond?
The interest earned on the bond is taxable income in the year you cash it. You do not report the cash itself to the IRS, but you will owe tax on the interest. Keep your redemption paperwork for your tax records.
Can I cash a bond online without going to a bank?
Yes, if the bond is in TreasuryDirect. Log in, select the bond, and request redemption. The money goes to your linked bank account in a few business days. If you have a physical certificate, you must either visit a bank or mail the form to the Treasury.
What happens if a bank says they cannot cash my bond?
Ask why — they may not cash bonds from certain years, or they may require you to have an account. If they refuse, try another bank or a credit union. If no local institution will do it, the Treasury will always cash it by mail, though it takes longer.