You can cash savings bonds at most banks and credit unions even without an account, and the U.S. Treasury also accepts them by mail
A savings bond is a debt instrument issued by the U.S. Treasury, and you own it outright — you do not need a bank account to redeem it. The most direct route is to walk into any bank or credit union with your bond and a valid ID, and they will cash it on the spot. If you do not want to visit a branch, you can mail your bond to the Treasury Department's Bureau of the Fiscal Service, and they will send you a check.
The method you choose depends on how quickly you need the money and whether you have a nearby bank branch. In-person cashing at a bank takes minutes. Mail takes two to four weeks from the date the Treasury receives your package, plus the time for your envelope to arrive.
Key Takeaways
- Any bank or credit union will cash a savings bond for you without requiring an account, as long as you bring the bond and a government-issued ID.
- You can also mail your bond directly to the Treasury Department's Bureau of the Fiscal Service with a form, and they will send you a check by mail.
- Series EE and Series I bonds have different rules about when they can be cashed — EE bonds can be cashed after one year, but you lose three months of interest if you cash before five years; I bonds require five years before any cash-out.
- If your bond is lost, stolen, or destroyed, the Treasury can issue a replacement, but the process takes several weeks and requires proof of ownership.
Cashing a bond in person at a bank or credit union
Walk into any bank or credit union branch with your physical bond certificate and a valid government-issued ID — a driver's license, passport, or state ID card all work. The teller will verify the bond, check that it has matured or meets the redemption rules for its series, and give you cash or a check on the spot. Most banks do this without charging a fee, though a few credit unions may charge a small fee if you are not a member.
Bring the bond itself, not a photocopy. The bank needs to see the original certificate to confirm its serial number and issue date. If you have multiple bonds, bring them all at once — the teller can process them together. You will receive the full face value plus any accrued interest that has accumulated since the bond was issued.
If the bond is in both your name and another person's name, both owners may need to be present, or you may need a signed authorization from the co-owner. Ask the bank ahead of time if you are unsure, since the rules vary slightly by institution. Some banks will also cash bonds held in the names of minors if a parent or guardian is present with proof of guardianship.
Mailing your bond to the Treasury Department
If you cannot visit a bank in person, you can redeem your bond by mail through the Bureau of the Fiscal Service. Download and print Form PD F 1522 from the Treasury's website, or request it by phone at 844-284-2676. Fill out the form with your bond's serial number, series, issue date, and the face value. Sign it in front of a notary public — this is required for mail redemptions.
Mail the signed form and your bond certificate to the address listed on the form. Include a copy of your ID, but not the original. The Treasury will receive your package, verify the bond, and mail you a check for the full value plus accrued interest. This process takes two to four weeks after they receive your envelope, so add time for mail delivery on both ends.
Do not send the bond by regular mail without tracking. Use certified mail with return receipt, or a service like FedEx or UPS that provides a tracking number. The Treasury receives thousands of bonds by mail each month, and tracking protects you if your package is lost. A notary public can be found at most banks, libraries, or through a notary search service online; fees typically range from $10 to $25.
Understanding maturity and early redemption rules
Series EE bonds can be cashed after one year, but the Treasury penalizes early redemption. If you cash an EE bond before it has been held for five years, you lose the last three months of interest. For example, if you cash a bond after two years, you receive only 21 months of interest, not 24 months. After five years, you can cash without penalty.
Series I bonds have stricter rules: you cannot cash them at all for the first five years. If you cash an I bond between five and five years and one month, you still lose three months of interest. After five years and one month, you can cash without penalty. Check your bond's series and issue date before you redeem — the bank or Treasury will not process an I bond that is less than five years old.
Series HH bonds and older series have their own rules. If you are unsure whether your bond can be cashed now, call the Treasury at 844-284-2676 with your bond's series and issue date, and they will tell you the current value and whether you can redeem it. The Treasury's website also has a savings bond value calculator where you can enter your bond details and see the exact amount you will receive.
What to do if your bond is lost, stolen, or damaged
If your bond certificate is lost or stolen, contact the Treasury Department's Bureau of the Fiscal Service at 844-284-2676. Have your bond's series, issue date, and face value ready. The Treasury will search its records to confirm you own the bond, and if they find it, they can issue a replacement certificate or process a redemption directly to your address.
If the bond is damaged but still readable, most banks will still cash it. If it is too damaged to read the serial number or issue date, the Treasury can issue a replacement. The replacement process takes four to six weeks and requires proof that you own the bond — typically a copy of the original purchase receipt or a statement from your bank showing the bond in your account.
If you inherited a bond from someone who has passed away, you will need to provide a death certificate and proof that you are the beneficiary or heir. The Treasury or the bank can walk you through the steps once you call or visit in person. Do not attempt to cash an inherited bond without first contacting the Treasury, as the process differs depending on whether the bond was registered in the deceased person's name alone or jointly with you.
Comparing your options: in-person versus mail
| Method | Time to receive money | What you need | Cost |
|---|---|---|---|
| Bank or credit union in person | Same day (minutes) | Bond certificate, government ID | Usually free; some credit unions charge $5–$10 for non-members |
| Mail to Treasury | 2–4 weeks after receipt, plus mail time | Bond certificate, Form PD F 1522, notarized signature, copy of ID | Free; you pay for notary ($10–$25) and certified mail ($10–$15) |
In-person redemption is faster and simpler if you have a bank nearby. You walk in, show your ID and bond, and leave with cash or a check. Mail redemption is the only option if you cannot visit a branch, but it costs more in notary and postage fees and takes significantly longer.
If you need the money urgently, visiting a bank in person is always the better choice. If you have time and prefer not to leave your home, mail redemption works but requires planning ahead to account for notary appointments and mail delivery delays.
Frequently Asked Questions
Can I cash a savings bond at any bank, or only the bank where I bought it?
You can cash it at any bank or credit union in the country, not just the one where you purchased it. Banks treat savings bonds as Treasury securities and will redeem them regardless of where you opened your account or bought the bond. Bring your bond and ID to any branch.
What if I lost the bond certificate but I have the receipt?
A receipt alone is not enough to cash the bond. You need the physical certificate or proof from the Treasury that you own it. Contact the Treasury at 844-284-2676 with your receipt and other details, and they can search their records and issue a replacement certificate or process a direct redemption.
Do I have to cash the entire bond, or can I cash part of it?
You must cash the entire bond. You cannot redeem a portion of a single bond certificate. If you own multiple bonds, you can cash some and keep others, but each individual bond is an all-or-nothing transaction.
What happens if I cash a bond before it matures?
Series EE bonds lose three months of interest if cashed before five years. Series I bonds cannot be cashed before five years at all. After the penalty period, you receive the full value plus all accrued interest. Check your bond's series before you redeem to understand what you will receive.
Can someone else cash my bond if I give them permission?
Not without your signature. If the bond is in your name alone, only you can redeem it. If it is in both your names, both owners may need to be present, or one owner may need a notarized authorization from the other. Ask the bank or Treasury what proof they need before you hand the bond to someone else.