Cashing Savings Bonds

The most favorite question that people ask is about cashing savings bonds. Some people hold their US savings bonds to maturity while others need to cash out on their savings bonds. Cashing savings bonds is the same as redeeming them. Cashing savings bonds is usually done at local financial institutions.

How to cash out on savings bonds?

To redeem electronic bonds purchased in TreasuryDirect, log in and follow the on-screen directions. Your checking or savings account will be credited with the redemption amount within one business day of the redemption date.

Where can I cash my savings bonds? 

For series EE savings bonds or series E bonds, most local financial institutions will be happy to cash them for you. If you plan on cashing savings bonds, the easiest way is to call your local financial institutions and ask if they would cash your US savings bonds for you.

What do I need when cashing savings bonds?

When cashing savings bonds at local financial institutions, you will need to provide proofs to establish your identity. Usually a driver's license is enough proof of who you are. Most people cash their savings bonds at their local financial institutions where they are customers.

Can the government tell me where I can cash my US savings bonds?

No. The government does not keep a list of local banks or financial institutions that will cash US savings bonds but most banks do.

Do I have to be the owner of the savings bonds to cash them?

No, you do not have to be listed as the owner of the US savings bonds to cash them. You can be the co-owner or can proof that you are entitled to redeem the savings bonds. Ask the bank of financial institution that you are cashing savings bonds at to ascertain what documents you need to bring and if you are eligible to cash your savings bonds there.