Where To Cash Savings Bonds

So, you’re in need of a little boost in the wallet and want to know where to cash savings bonds you’ve bought or been given over the years. We can help with that, but first you’ll need to check a few things. For Series E, EE, Savings Notes, or Series I issued after 2003, you have to wait a minimum of twelve months before cashing in a savings bond. If your bond was issued prior to 2003, you only had to hold it for six months.

1. For Series E, EE, Savings Notes, and Series I under $1,000, you can cash your bond at almost any financial institution or credit union. Call first to verify that the bank handles U.S. Treasury Bonds. Each bank will have its own requirements, but you will most likely need documentation showing you are the person listed as owner of the bond, or have the legal right to cash it (parent of a minor, inheritor, co-owner, etc.). The Treasury Department has certain requirements as to what documentation is acceptable, such as a driver’s license or state-issued ID.
2. For Series E, EE, Savings Notes, and Series I over $1,000, or if you are cashing several bonds totaling over $1,000, you will have to go to a bank with whom you have an account. Savings bonds are regulated by the Treasury Department, which has very strict rules about identification requirements. For savings bonds of this size (or cashing several that amount to that much), they want the financial institution to be 100% certain you are who you say you are. Therefore, they (not the bank) have instilled the account requirement clause.
3. For Series H or HH, very few banks will cash these savings bonds, regardless of whether you have an account or not. However, they are required to certify your signature on these bonds for you to cash them through the Treasure Department.
4. For all savings bonds, you can deal directly with the Treasury Department to cash in your savings bonds, no matter what Series or amount. You can mail in your bonds, or you can create an online account with the Treasury Department. Once you have an account, you can convert paper bonds and thus manage your savings bonds (including redemption directly to your checking account) online through their website.

Resources:

Treasury Direct: Treasury Bonds