You cannot deposit a savings bond directly into a checking account the way you would a check or paycheck
Savings bonds are not negotiable instruments like checks. Your bank cannot process them as deposits because the bond itself stays registered in your name with the U.S. Department of the Treasury. What you can do is cash the bond first, then deposit the cash or a check you receive from that cashing into your checking account. The cashing step is separate from the deposit step, and it takes time.
The path depends on which type of bond you hold. Series EE bonds, Series I bonds, and older Series HH bonds all have different rules for who can cash them and where. Some banks will cash them for you if you have an account there. Others will not. The Treasury itself will cash them, but that process is slower.
If you need the money soon, knowing your options now—before you need it—saves frustration. If you are holding bonds that have matured or reached their final maturity date, the rules change slightly in your favor.
Key Takeaways
- Savings bonds must be cashed through the Treasury, your bank, or a broker before any money reaches your checking account; you cannot deposit the bond certificate itself.
- Banks that hold your account will often cash Series EE and Series I bonds for free if you present the bond in person with a valid ID, but policies vary by institution.
- The Treasury will cash any bond by mail, but the process takes two to four weeks and requires you to complete a specific form and provide proof of ownership.
- Once you receive cash or a check from cashing the bond, you can deposit that into your checking account through your bank's normal deposit methods.
- Bonds that have reached final maturity stop earning interest and should be cashed within a year, or the Treasury may take custody of the funds.
Cashing a bond at your bank in person
If you have a checking or savings account at a bank, call that bank's main customer service line and ask whether they cash savings bonds. Most large national banks—Bank of America, Wells Fargo, Chase, Citibank—do cash Series EE and Series I bonds for account holders at no charge. Credit unions vary; some cash bonds, some do not. Community banks often will, but you need to ask.
To cash a bond in person, bring the bond certificate itself, a valid government-issued photo ID, and your account information. The teller will verify the bond's authenticity and your ownership, then issue you a check or deposit the funds directly into your account on the spot. This is the fastest route if your bank participates—usually same-day or next business day.
If your bank does not cash bonds, or if you do not have an account there, you will need to use the Treasury or a broker. Do not try to deposit the bond certificate itself; the bank will reject it.
Cashing through the U.S. Treasury by mail
The Treasury will cash any savings bond, but only by mail. You cannot walk into a Treasury office or call a number to cash a bond over the phone. The process requires you to complete Form PD F 1522 (for Series EE and I bonds) or the appropriate form for your bond type, include the bond certificate, and mail everything to the Treasury's Bureau of the Fiscal Service.
Processing takes two to four weeks from the date the Treasury receives your package. You will receive a check by mail, which you then deposit into your checking account. The address and exact form depend on your bond type; the Treasury's website (treasurydirect.gov) lists the correct form and mailing address for each bond series.
This route is slower but works if your bank will not cash the bond or if you do not have a local bank account. It also works if you have lost the bond certificate; the Treasury can issue a replacement, though that adds another two to four weeks.
What happens if your bond has reached final maturity
Series EE bonds stop earning interest 30 years after issue. Series I bonds stop earning interest 30 years after issue. Once a bond reaches that date, it no longer grows in value, and the Treasury recommends cashing it within one year. If you do not cash it, the Treasury may place the funds in a non-interest-bearing account and eventually turn them over to your state as unclaimed property.
Bonds at final maturity still require the same cashing process—through your bank or the Treasury—but the urgency is higher. Check the issue date on your bond. If it is 30 years old or older, prioritize cashing it. You can find the issue date printed on the bond certificate itself.
Using a broker to cash a bond
If you have a brokerage account with a firm like Fidelity, Vanguard, or Charles Schwab, you can sometimes cash a savings bond through that broker. Not all brokers accept bonds, and policies differ. Call your broker's customer service line to ask whether they cash savings bonds and what documentation they need.
If they do, the process is similar to cashing at a bank: you provide the bond and proof of ownership, and they issue you a check or deposit funds into your brokerage account. You would then transfer the money to your checking account through your broker's transfer tools. This adds a step compared to cashing at your bank, but it works if your bank will not participate.
Depositing the cash or check into your checking account
Once you have cashed the bond and received cash or a check, depositing into your checking account is straightforward. If you received a check, you can deposit it through mobile check deposit (if your bank offers it), at an ATM, at a teller window, or by mail. If you received cash, deposit it at a teller window or ATM that accepts cash.
The deposit itself clears within one to two business days for checks, or when ready for cash at most banks. There is no special process for deposits that come from bond proceeds; your bank treats them like any other deposit.
What to do if you cannot find your bond certificate
If you have lost the physical bond certificate, you can still cash it, but the process is longer. Contact the Treasury's Bureau of the Fiscal Service and request a replacement bond certificate. You will need to provide proof of ownership—usually a copy of the original purchase receipt, a statement showing the bond in your name, or a letter from the original purchaser if someone else bought it for you.
The Treasury will verify your claim and issue a replacement certificate, which takes two to four weeks. Once you have it, you can cash it through your bank or by mailing it back to the Treasury. If the bond is very old and you have no documentation, contact the Treasury directly; they can sometimes look up the bond in their records if you provide the series, denomination, and approximate issue date.
Frequently Asked Questions
Can I deposit a savings bond directly into my checking account online?
No. Savings bonds are not digital instruments that can be transferred electronically. You must cash the physical bond first through your bank or the Treasury, receive cash or a check, and then deposit that into your account. There is no online-only path.
Will my bank charge me a fee to cash a savings bond?
Most banks do not charge a fee to cash savings bonds for account holders. However, some smaller banks or credit unions may charge a small fee, or may not cash bonds at all. Call your bank and ask before you bring the bond in.
How long does it take to get money from a savings bond into my checking account?
If you cash it at your bank in person, the money appears in your account same-day or next business day. If you mail it to the Treasury, expect two to four weeks for processing, plus mail time. If you receive a check, add one to two more days for deposit clearing.
What if my savings bond is in someone else's name?
If the bond is registered only in another person's name, that person must cash it. If it is registered in both names (co-owned), either owner can usually cash it, but bring both IDs to the bank. If you are the beneficiary but not the owner, you will need the owner's permission and signature on the Treasury form.
Can I cash a savings bond at any bank, or only at my bank?
Most banks will only cash bonds for their own account holders. If you do not have an account at a bank that cashes bonds, use the Treasury by mail or open a basic checking account at a bank that participates. Some credit unions and brokers also cash bonds; call ahead to confirm.