Banks and credit unions are the fastest place to cash savings bonds, but the U.S. Treasury and your bond issuer are your only options if your bank won't do it

Most people cash savings bonds at their own bank or credit union during regular business hours. Bring the physical bond, a valid ID, and your Social Security number. The teller will verify the bond's serial number, confirm you're the registered owner, and give you cash or deposit the proceeds into your account. This takes minutes if the bank handles savings bonds — and that's the catch. Not every bank does.

If your bank declines, you have two backup routes: mail the bond to the Treasury Department's Bureau of the Fiscal Service, or contact the financial institution that originally issued the bond. The Treasury route takes two to four weeks by mail. The issuer route depends on which company sold it to you originally, but they're legally required to redeem it.

Key Takeaways

  • Your own bank or credit union is the fastest option if they handle savings bonds, which you can confirm by calling ahead.
  • Bring the physical bond, a government-issued ID, and your Social Security number to any bank that will cash it.
  • If your bank refuses, you can mail the bond to the Treasury Department's Bureau of the Fiscal Service with a completed FS Form 1522.
  • The original issuer of the bond is legally required to redeem it, even if it's a bank that no longer serves your area.
  • Never send an unredeemed bond through regular mail without insurance, and never mail it to a random address you find online.

Why some banks won't cash savings bonds

Banks stopped cashing savings bonds as a routine service around 2011, when the Treasury stopped issuing paper bonds. Many banks now treat bond redemption as a special request that requires manager approval or takes longer than a standard transaction. Some have no staff trained to verify bonds. Others simply decided the liability wasn't worth the occasional customer request.

Credit unions are more likely to cash bonds than large national banks, especially if you're a member in good standing. Community banks often will too. The only way to know is to call your institution's main number and ask whether they redeem savings bonds — don't assume based on whether they cash checks or handle other Treasury products.

How to cash a bond at your bank

Call your bank first and confirm they handle savings bonds. Ask whether you need an appointment or can walk in during regular hours. When you arrive, bring three things: the physical bond itself, a government-issued ID (driver's license, passport, or state ID), and your Social Security number written down.

The teller will look up the bond's serial number in the Treasury's system to confirm it exists, that you're the registered owner, and that it has reached final maturity (if it hasn't, they may still cash it but you'll forfeit any remaining interest). They'll ask how you want the money — cash, check, or deposit to an account. The whole process usually takes 10 to 15 minutes. You'll receive a receipt showing the redemption amount and date.

Mailing your bond to the Treasury Department

If no bank near you will cash the bond, you can mail it directly to the Bureau of the Fiscal Service. You'll need to complete FS Form 1522 (Statement Regarding Deceased Payee), even if the bond owner is alive — the form is used for all redemptions by mail. Download it from treasurydirect.gov or request it by phone at 844-284-2676.

Fill out the form with your name, address, Social Security number, and the bond's series, denomination, and serial number. Include a copy of your ID (not the original). Mail everything in an envelope with tracking and insurance to: Bureau of the Fiscal Service, Parkersburg, WV 26106-1328. Do not use regular first-class mail for an unredeemed bond.

Processing takes two to four weeks after the Treasury receives your package. They'll mail you a check to the address you provided. If the bond has reached final maturity, you'll receive the face value only. If it hasn't, you'll receive the current redemption value, which includes accrued interest up to the month you submitted it.

Contacting the original bond issuer

If you know which bank or financial institution originally sold you the bond, contact them directly and ask for their bond redemption department. Even if that institution no longer operates in your state or has merged with another company, they're legally required to redeem bonds they issued.

You may need to provide proof of ownership and your ID. Some issuers will mail you a redemption form; others will direct you to their current parent company. This route is slower than a bank visit but faster than mailing to the Treasury if the issuer is responsive. Keep records of who you spoke to and when, in case follow-up is needed.

What happens if the bond is registered to a deceased owner

If the bond owner has died, the person redeeming it must be the estate executor or have legal authority to act on behalf of the estate. Banks will ask for a death certificate and proof of authority — usually a court document showing you're the executor, or a letter from an attorney.

If you're mailing to the Treasury, complete FS Form 1522 and include a certified copy of the death certificate along with proof of your authority. The Treasury will mail the check to the estate address you provide. If there's no executor or the estate is small, some states allow a surviving spouse or adult child to redeem the bond with a death certificate and notarized affidavit, but rules vary — ask the Treasury or a probate attorney in your state.

Protecting yourself when redeeming bonds

Never mail an unredeemed bond through regular mail. Always use a service with tracking and insurance, like USPS Certified Mail with insurance or UPS. The bond is a bearer instrument — whoever holds it can cash it — so a lost bond in the mail is gone for good.

Don't share your bond's serial number or details with anyone who contacts you unsolicited. Scammers sometimes pose as Treasury officials or bond redemption services and ask for bond information to "verify" it or "process" it faster. The Treasury will never contact you first, and legitimate redemption never requires a fee or upfront payment.

Keep a record of the bond's series, denomination, and serial number in a safe place separate from the bond itself. If the bond is lost or destroyed, you can still file a claim with the Treasury using this information, though the process takes longer.

Frequently Asked Questions

Can I cash a savings bond before it reaches final maturity?

Yes. Most savings bonds can be redeemed anytime after you've owned them for one year, though you'll forfeit the last three months of interest if you cash it before five years have passed. After five years, you receive the full current value with all accrued interest. The bank or Treasury will tell you the exact redemption amount before you finalize the transaction.

What if I lost the physical bond?

Contact the Treasury Department at 844-284-2676 or visit treasurydirect.gov. You'll file a claim with the bond's series, denomination, and serial number. If you have the paperwork from when you bought it, that helps. The process takes several months, and you'll receive a replacement bond or check once the Treasury confirms the original hasn't been cashed.

Do I have to pay taxes when I cash a savings bond?

Yes, the interest earned on the bond is subject to federal income tax in the year you redeem it. You won't owe state or local tax on federal savings bonds. The bank or Treasury won't withhold taxes — you'll report the interest on your tax return. Keep the redemption receipt showing how much interest you received.

Can someone else cash my bond if I give them permission?

No. Only the registered owner can redeem a savings bond, or an authorized representative like an executor or power of attorney holder. A bank won't cash it for a friend or family member just because you say it's okay. If you want someone else to handle it, you'll need legal documentation proving they have authority to act on your behalf.

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

At a bank, you get cash or a deposit immediately. If you mail to the Treasury, allow two to four weeks for processing plus mail time both ways — so plan for four to six weeks total. If you contact the original issuer, timing depends on how responsive they are, but expect at least one to two weeks.