You can cash savings bonds in the following ways depending on whether they are electronic or paper bonds: Electronic Savings Bonds:
- If you purchased electronic savings bonds through TreasuryDirect, you can cash them in online by logging into your TreasuryDirect account. The redeemed amount will be deposited directly into your linked checking or savings account within about two business days
Paper Savings Bonds:
- Many banks and credit unions will cash paper savings bonds over the counter, but policies vary. Some banks require you to be an account holder, may limit the amount they cash at once, or may not cash certain types of bonds. It’s best to call your bank ahead to confirm if they cash savings bonds and what their requirements are
- If your bank will not cash the bonds, you can mail them to Treasury Retail Securities Services along with FS Form 1522 (with a certified signature). Include your social security number and bank account info for direct deposit. This process takes longer but is reliable
- Credit unions and smaller banks sometimes have more flexible policies for cashing paper bonds and may cash larger amounts or bonds for non-account holders
Additional Notes:
- You must wait at least 12 months from the purchase date before cashing savings bonds.
- Cashing before 5 years results in losing 3 months of interest.
- Bring identification (usually one or two forms) and the physical bond when cashing at a bank.
- For bonds with name changes or beneficiaries, additional documentation such as marriage certificates or death certificates may be required
In summary, the easiest way to cash savings bonds is online via TreasuryDirect for electronic bonds, or at a bank or credit union for paper bonds if they offer the service. Otherwise, mailing the bonds to Treasury Retail Securities Services is the alternative
