You can cash a savings bond at a credit union, post office, or through the Treasury Department directly — you do not need a bank account

A savings bond is a debt security issued by the U.S. Treasury. When it reaches maturity or you decide to redeem it, you need a way to convert it to cash. Most people assume they need a bank account to do this, but that is not true. The Treasury and several other institutions will cash bonds for people without bank accounts, though the method depends on the bond type and where you go.

The fastest option is usually a credit union or post office if you have one nearby. The most reliable option if you have no local alternatives is to mail the bond directly to the Treasury's Bureau of the Fiscal Service, which will send you a check by mail. Each route has different requirements and timelines.

Key Takeaways

  • Credit unions will cash savings bonds for non-members in most cases, and the process takes minutes if you bring the bond and a photo ID.
  • The U.S. Post Office cashes savings bonds at many locations, though not all branches do, so call ahead to confirm.
  • You can mail your bond directly to the Bureau of the Fiscal Service with a form, and they will mail you a check within four to six weeks.
  • Paper Series EE and I bonds require the original bond certificate; digital bonds held in TreasuryDirect cannot be cashed in person.
  • If you have lost the bond certificate, you can file a claim with the Treasury, but the process takes several months.

Cashing a bond at a credit union

Most credit unions will cash a U.S. savings bond for you even if you are not a member. Call the credit union first to confirm they offer this service, because policies vary by institution. Bring your original bond certificate and a photo ID — a driver's license, passport, or state ID card all work.

The teller will verify the bond is genuine and that it has reached maturity (or that you are the registered owner if it has not). The process usually takes 10 to 20 minutes. You will receive cash on the spot, or the credit union may offer to deposit the funds into a temporary account they create for you, which you can then withdraw from immediately.

This is the fastest option if you have a credit union nearby. Some credit unions charge a small fee ($5 to $10) for non-members, though many do not. Ask about the fee when you call.

Cashing a bond at the post office

The U.S. Post Office cashes savings bonds at many locations, but not all branches participate in this service. Call your local post office and ask whether they cash bonds. If they do, bring your original bond certificate and a photo ID.

The postmaster or clerk will examine the bond and verify your identity. The process takes 15 to 30 minutes. You will receive cash or a postal money order. If the bond amount is large, the post office may issue a money order instead of cash, which you can then cash at a bank, credit union, or another post office.

Post offices do not charge a fee for cashing bonds. However, if you receive a money order, you may be charged a small fee (usually $1 to $3) to cash it elsewhere.

Mailing your bond to the Treasury Department

If you have no credit union or post office nearby, or if you prefer not to go in person, you can mail your bond to the Bureau of the Fiscal Service. This is the official government office that handles bond redemptions.

Send your original bond certificate along with Form PD 1239 (Application for Payment of Savings Bonds). You can download this form from the Treasury website or request it by mail. Include a copy of your photo ID (front and back). Mail everything to the address listed on the form — it varies by state.

The Treasury will process your request and mail you a check within four to six weeks. The check will be made out to you as the registered owner of the bond. You can then cash the check at a post office, credit union, or retail store that offers check-cashing services. Some retail stores charge a fee for cashing checks; post offices and credit unions typically do not.

What to do if you have a digital bond in TreasuryDirect

If your bond is held in a TreasuryDirect account (the Treasury's online system), you cannot cash it in person at a credit union or post office. Instead, you must redeem it through your TreasuryDirect account and have the funds deposited into a bank account.

If you do not have a bank account, you will need to open one to receive the money. Many banks and credit unions offer accounts with no minimum balance or monthly fee. Once the funds are deposited, you can withdraw them as cash at an ATM or by visiting a branch.

Alternatively, you can transfer the funds to a prepaid debit card account, which functions like a bank account for deposit purposes. Some prepaid card providers charge monthly fees, so compare options before choosing one.

Cashing a bond if you have lost the certificate

If your paper bond certificate is lost, stolen, or destroyed, you cannot cash it in person. Instead, you must file a claim with the Treasury to replace it or receive payment.

Contact the Bureau of the Fiscal Service by mail or phone (the phone number is on the Treasury website). You will need to provide the bond's series, denomination, issue date, and serial number if you have it. The Treasury will investigate and, if they confirm you are the registered owner, will either issue a replacement certificate or send you a check.

This process takes three to six months. You will need to provide proof of ownership, such as old tax records, bank statements showing the bond purchase, or correspondence from the Treasury. The more documentation you can provide, the faster the claim will be processed.

Series EE and I bonds: maturity and redemption timing

Series EE bonds stop earning interest after 30 years, and Series I bonds stop earning interest after 30 years as well. You can redeem them at any time after one year, but if you redeem before five years have passed, you will lose the last three months of interest as a penalty.

Check your bond's issue date before you cash it. If it is less than one year old, most institutions will refuse to cash it. If it is between one and five years old, you can cash it, but you will forfeit some interest. After five years, there is no penalty.

The interest earned on savings bonds is subject to federal income tax. When you cash the bond, the institution may ask you to provide your Social Security number for tax reporting purposes.

Frequently Asked Questions

Can I cash someone else's savings bond?

No. Only the registered owner or a legal representative (such as a guardian or executor of an estate) can cash a bond. If you are cashing a bond on behalf of a deceased person, bring the death certificate and proof that you are the executor or beneficiary.

What if the bond amount is very large?

Credit unions and post offices may have limits on how much cash they will give you in a single transaction, typically $5,000 to $10,000. If your bond exceeds this, ask whether they will issue a check or money order instead. The Treasury will mail you a check for any amount.

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

Yes. The interest earned on the bond is subject to federal income tax and, in most states, state income tax. You do not pay tax when you cash it, but you must report the interest on your tax return for the year you redeem it. The institution may issue a 1099-INT form for tax reporting.

How long does it take to get my money?

In person at a credit union or post office: 10 to 30 minutes. By mail to the Treasury: four to six weeks. If you receive a check, cashing it at a post office or credit union is immediate; at a retail store, it may take one to three business days.

What if my local credit union or post office refuses to cash my bond?

Ask them why. Common reasons include the bond being less than one year old, the certificate being damaged or illegible, or the institution having a policy against cashing bonds for non-members. If they refuse, the Treasury will always cash it by mail, or you can try another credit union or post office nearby.