Most banks will cash Series EE and Series I savings bonds, but not all branches handle them the same way
You can cash a savings bond at most large national banks — Bank of America, Wells Fargo, Chase, Citibank, and others — but the process and restrictions vary by branch and bond type. Some branches cash bonds over the counter during business hours. Others require you to mail the bond to the bank's processing center. A few smaller banks or branches do not handle savings bonds at all, so calling ahead saves a wasted trip.
The bank does not have to cash a bond you did not buy from them. Many banks will do it anyway as a courtesy to customers, but they can refuse. If your bank declines, the U.S. Treasury will cash any savings bond directly, though it takes longer and requires mailing the bond to a Federal Reserve Bank.
Key Takeaways
- Large national banks typically cash Series EE and Series I bonds at the counter if you have an account there, but policies differ by branch.
- You will need the physical bond, a valid ID, and proof of Social Security number; some banks also require you to be an account holder.
- If a bank refuses to cash your bond, you can mail it directly to a Federal Reserve Bank, which takes two to four weeks.
- Banks may hold the funds for several business days after you hand over the bond, even if they cash it immediately.
- Savings bonds purchased through TreasuryDirect (digital bonds) cannot be cashed at banks — only through your TreasuryDirect account online.
How to cash a savings bond at a bank branch
Walk into your bank with the physical bond, your government-issued ID, and your Social Security card or a document showing your Social Security number. Tell the teller you want to cash the bond. If you have an account at that bank, most branches will cash it on the spot. The teller will verify the bond is genuine, check that it has reached maturity (or is close enough that early redemption penalties do not apply), and process the transaction.
The bank will give you the cash or deposit it into your account. If you deposit it, the funds may be held for three to five business days while the bank clears the transaction, even though the bond itself is cashed immediately. Ask the teller about the hold period before you hand over the bond.
If you do not have an account at the bank, call the branch first. Some banks will still cash the bond as a courtesy; others will not. A few large banks have specific policies: Bank of America, for example, will cash savings bonds for non-customers at some branches but not others. Calling saves you a trip.
What happens if your bank will not cash the bond
If the bank refuses, you have two options: find another bank that will cash it, or mail it to the Federal Reserve.
Call other banks in your area and ask whether they cash savings bonds for non-customers. Credit unions sometimes cash them too, especially if you are a member. Local banks are often more flexible than national chains, though there is no may provide.
If no bank nearby will help, mail the bond to the Federal Reserve Bank that serves your region. You will need to fill out Form PD 1522 (the Savings Bond Redemption Request form), include a copy of your ID and Social Security card, and mail the bond and form together. The Federal Reserve will send you a check in two to four weeks. You can find the correct Federal Reserve Bank address and download the form at treasurydirect.gov.
Digital savings bonds and TreasuryDirect accounts
If you own a Series EE or Series I bond purchased through TreasuryDirect (the Treasury's online platform), you cannot cash it at a bank. These bonds exist only in your TreasuryDirect account and have no physical certificate. You must redeem them through your TreasuryDirect account online.
Log into treasurydirect.gov, navigate to the "Manage My Securities" section, select the bond you want to redeem, and request the redemption. The Treasury will deposit the funds into your bank account within two business days. This is actually faster than cashing a physical bond at a bank, since there is no hold period.
What you need to bring to cash a physical bond
| Document | Why the bank needs it |
|---|---|
| The physical savings bond | Proof that you own the bond and that it is genuine |
| Government-issued ID (driver's license, passport, state ID) | Proof of identity |
| Social Security card or document with your SSN | Verification of your Social Security number for the Treasury's records |
| Proof of account ownership (optional but helpful) | If you have an account at the bank, bring a debit card or recent statement to speed up the process |
Some banks will accept a tax return or other government document showing your Social Security number instead of the card itself. Call ahead if you do not have the card with you.
Timing and holds on cashed bonds
The bank will cash the bond immediately — meaning it verifies the bond and processes the redemption right away. However, the funds may not be available in your account for three to five business days. This is a standard hold that banks place on large cash deposits or unusual transactions.
If you need the money urgently, ask the teller whether the bank can waive or shorten the hold. Some branches will release funds the next business day if you are an established customer. Do not count on it, but it is worth asking.
If you are cashing the bond for cash at the counter rather than depositing it, you will have the money immediately, but the bank may have limits on how much cash it will hand over in a single transaction. Ask about this before you arrive.
Which banks are most likely to cash savings bonds
Large national banks with many branches are your best bet: Bank of America, Wells Fargo, Chase, Citibank, and U.S. Bank all cash savings bonds at most locations. Credit unions often cash them too, especially if you are a member. Local and regional banks vary — some will, some will not.
Online-only banks do not have physical branches, so you cannot walk in and cash a bond. If you bank online, you will need to use a brick-and-mortar bank or mail the bond to the Federal Reserve.
Before you go, call the specific branch you plan to visit. Branch policies can differ even within the same bank. A teller at one Wells Fargo location might cash bonds for anyone, while another location only cashes them for account holders. A five-minute phone call confirms whether your branch will help.
Frequently Asked Questions
Can I cash a savings bond at any bank, or does it have to be the bank where I have an account?
Most large banks will cash a savings bond for account holders. Many will also cash them for non-customers, but they are not required to. Call the branch first to confirm. If they refuse, try another bank or mail the bond to the Federal Reserve.
What if my savings bond is damaged or the serial number is faded?
Bring it to the bank anyway. The teller will examine it and may still be able to process it. If the bank cannot read it, they will tell you to mail it to the Federal Reserve with a letter explaining the damage. The Federal Reserve has more tools to verify damaged bonds.
Do I have to cash the entire bond, or can I cash part of it?
Savings bonds are cashed as a whole — you cannot redeem half a bond and keep the other half. When you cash it, you receive the full current value, including all accrued interest.
How long does it take to get the money after I cash a bond at the bank?
If you take cash at the counter, you have it immediately. If you deposit it into your account, the bank will usually hold the funds for three to five business days. Some banks will release it sooner if you ask and have an established account.
What if I lost my savings bond?
You cannot cash a bond you do not have. Contact the Treasury at treasurydirect.gov or call 844-284-2676 to report it lost. The Treasury can issue a replacement, but it takes time and requires proof of purchase or ownership.