Where to cash savings bonds if you don't have a bank account

You can cash savings bonds at most credit unions, the U.S. Treasury, your employer's payroll office, or a check-cashing service. The easiest route depends on which bonds you hold and whether you have any government ID. Series EE and Series I bonds (the most common types) can be redeemed at a credit union even if you have no account there, though some credit unions limit this to members only—call ahead. The U.S. Treasury will cash bonds by mail if you send them the physical bond, a completed FS Form 1522, and a copy of your ID.

If you need cash the same day, a check-cashing service or retail store with a check-cashing counter (Walmart, Kroger, Costco) will cash a Treasury check once you have one in hand. The fee varies—typically $3 to $10 depending on the check amount and the service—but this is faster than waiting for mail processing. Some banks will cash a savings bond check even if you don't have an account, though policies differ by branch.

Key Takeaways

  • Credit unions often cash savings bonds for non-members, but call first because policies vary by location.
  • The U.S. Treasury will redeem bonds by mail if you send the physical bond, form FS 1522, and a copy of your ID to the address on the form.
  • Check-cashing services and retail stores with check-cashing counters will cash a Treasury check the same day for a fee of $3 to $10.
  • Some employers will cash savings bonds through payroll if you work there, which is free and immediate.

Cashing bonds at a credit union

Credit unions are often the fastest option if one is nearby. Many credit unions will cash Series EE and Series I savings bonds for anyone with a valid ID, regardless of membership status. Call the credit union first and ask whether they cash savings bonds for non-members, because policies vary. Some credit unions limit bond cashing to members only, while others do it for anyone.

Bring the physical bond (not a copy), a valid government ID, and your Social Security number. The credit union will verify the bond's authenticity and current value, then give you cash or a check on the spot. If the bond is in someone else's name, you will need a power of attorney or proof that you are the authorized representative. Processing takes minutes to an hour.

Redeeming bonds through the U.S. Treasury by mail

If no credit union or bank near you will cash the bond, you can mail it directly to the Treasury. Send the physical bond, a completed FS Form 1522 (Request for Payment of Savings Bond), and a photocopy of your ID to the address listed on the form. The Treasury will process the request and mail you a check to the address you provide on the form.

Processing takes 4 to 6 weeks from the date the Treasury receives your package. Mail your request to the Bureau of the Fiscal Service, Parkersburg, West Virginia address shown on the form. Use certified mail with return receipt if you want proof of delivery. Once the check arrives, you can cash it at any check-cashing service, retail store, or bank.

Using check-cashing services and retail stores

Once you have a check from the Treasury or another source, check-cashing services and retail stores with check-cashing counters will convert it to cash the same day. Walmart, Kroger, Costco, and most grocery chains offer check cashing at their customer service desk. Fees range from $3 to $10 depending on the check amount and the store's policy. Bring the check and a valid government ID.

Some check-cashing stores specialize in this service and may have longer hours than banks. Look for "check cashing" or "payday loans" in your area online. Bring the check and two forms of ID (one must be government-issued). The service is immediate—you walk out with cash.

Cashing bonds through your employer

If you work for a large employer, ask your payroll or human resources department whether they will cash savings bonds. Some employers offer this as an employee benefit, especially for Series EE bonds. The process is free and immediate—payroll will verify the bond and deposit the cash into your next paycheck or give you cash on the spot, depending on company policy.

This option only works if your employer offers it, so check with your HR department first. You will need to bring the physical bond and your employee ID. This is the fastest free option if your employer participates.

What to do if the bond is in someone else's name

If the bond is registered to someone else, you cannot cash it without proof of authority. The owner must either cash it themselves or sign a power of attorney document authorizing you to do so. Some credit unions and banks will accept a notarized power of attorney; others require a court-appointed guardianship or conservatorship document.

If the bond owner has died, the bond becomes part of their estate. You will need a copy of the death certificate and proof that you are the executor or authorized heir. Contact the Treasury directly at 1-844-284-2676 for guidance on inherited bonds, as the process depends on whether the bond was registered as "payable on death" or held in the estate.

Fees and costs to expect

Cashing a savings bond at a credit union or bank is free if they offer the service. Check-cashing services and retail stores charge $3 to $10 per check, depending on the amount and location. The Treasury charges nothing to redeem bonds by mail—you only pay postage to send the bond and form.

If you use a check-cashing service, the fee is deducted from the check amount you receive. Ask the service what the fee is before you hand over the check. Retail stores often charge less than standalone check-cashing businesses, so compare if you have options nearby.

Frequently Asked Questions

Can I cash a savings bond at any bank?

Most banks will cash a savings bond check, but not all will redeem the bond itself if you don't have an account. Call your bank first. Credit unions are more likely to cash bonds for non-members than traditional banks.

What if I lost the physical bond?

Contact the Treasury at 1-844-284-2676 or visit treasurydirect.gov to report the loss. You can request a replacement bond or a check for the current value, but you will need to provide proof of ownership and your Social Security number. Processing takes several weeks.

How do I know how much my savings bond is worth?

Visit treasurydirect.gov and use the Savings Bond Calculator, or call the Treasury at 1-844-284-2676. You will need the bond series, denomination, and issue date. The value depends on how long you have held it and current interest rates.

Can I cash a savings bond before its maturity date?

Yes, but you may lose some interest. Series EE bonds held less than 5 years lose the last 3 months of interest. Series I bonds have the same penalty. After 5 years, you receive the full value. Check the bond's issue date before cashing to see if you will lose interest.

What if the check from the Treasury gets lost in the mail?

Contact the Treasury at 1-844-284-2676 with your request number and the date you mailed the bond. They can issue a replacement check or stop payment on the original if it has not been cashed. Keep your certified mail receipt as proof of delivery.