You can cash savings bonds at a credit union, through the Treasury Department by mail, or at certain retail locations—you do not need a bank account
Savings bonds can be cashed at places other than banks, though your options depend on the bond type and how much you are cashing. The simplest route for most people is a credit union, which will cash Treasury bonds even if you are not a member (though some charge a small fee). If you do not have access to a credit union, you can mail bonds directly to the Treasury Department, which takes two to four weeks but costs nothing. A third option is certain retail locations—some Walmart stores and grocery chains will cash bonds under specific conditions.
The method you choose affects how long you wait, what documents you need, and whether you pay a fee. Understanding what each location requires before you go saves a trip.
Key Takeaways
- Credit unions will cash savings bonds for non-members, usually within one business day, though fees vary by location.
- The U.S. Treasury will cash bonds by mail for free, but the process takes two to four weeks and requires you to mail the physical bonds.
- Retail locations like Walmart and some grocery stores cash bonds only under $1,000 and only if you have a valid ID and the bonds are in your name.
- Series EE and I bonds require you to wait until they are at least one year old; older bonds may have penalties if cashed before five years.
- You will need the physical bond certificate and a valid government-issued ID for any cashing method.
Cashing bonds at a credit union
A credit union is often the fastest option. Most credit unions will cash U.S. Treasury savings bonds for anyone with a valid ID, whether or not you are a member. The transaction usually takes one business day, and you walk out with cash or a check.
Call ahead before you go. Ask whether they cash savings bonds, what fee they charge (if any), and whether they have a limit on the amount. Some credit unions charge $5 to $15 per bond; others charge nothing. A few have dollar limits—for example, they may cash bonds up to $5,000 but refer larger amounts to the Treasury. Bring the physical bond certificate and a government-issued ID (driver's license, passport, or state ID). If the bond is in someone else's name, you will need a power of attorney or proof you are the legal guardian.
Mailing bonds directly to the Treasury Department
If you cannot reach a credit union or prefer not to pay a fee, you can mail bonds to the Bureau of the Fiscal Service, which is part of the U.S. Treasury. This method is free and works for any bond amount, but it takes two to four weeks from the day they receive your package.
You will need to complete Form PD 1239 (process for Payment of Savings Bonds), which you can read from treasurydirect.gov or request by phone at 844-284-2676. Include the completed form, the physical bond certificates, and a copy of your ID. Mail everything to the address listed on the form (it varies by state). Do not send original documents you cannot replace—send copies of your ID. The Treasury will send you a check to the address on file, or you can request a direct deposit to a bank account if you have one.
This route works well if you are not in a hurry and want to avoid fees. The downside is the wait and the risk of loss in the mail, though the Treasury insures packages sent to them.
Cashing bonds at retail locations
Some Walmart stores and grocery chains (including Kroger and Safeway in certain regions) will cash savings bonds as part of their check-cashing service. This is convenient if you live near one, but the restrictions are tight: the bond must be under $1,000, in your name only, and you must have a valid ID. Some locations also require you to have a Walmart or store account.
Call the specific store before you go. Ask whether they cash savings bonds, what their dollar limit is, and whether there is a fee. Fees at retail locations typically run $3 to $10. If your bond is over $1,000 or in multiple names, they will turn you away—you will need to use a credit union or the Treasury instead.
What you need to bring and how to prepare
For any cashing method, you will need the physical bond certificate itself. You cannot cash a bond using a receipt, statement, or photo. If you have lost the certificate, you will need to file a claim with the Treasury (Form PD 1048) before you can cash it, which adds several weeks to the process.
Bring a valid government-issued ID: a driver's license, passport, state ID, or military ID. The name on the ID must match the name on the bond. If it does not (for example, you married and changed your name), bring both the old and new ID, or a marriage certificate, to prove the name change. Check the bond's issue date before you go. Series EE and I bonds must be at least one year old to cash. If you cash them before five years, you lose the last three months of interest. Series HH bonds have different rules and are rarely issued now, but if you own one, contact the Treasury for specific instructions.
Fees and what to expect at each location
The cost and speed of cashing a bond vary significantly depending on where you go. A credit union charges between nothing and $15 per bond but gets you cash in one business day. The Treasury charges nothing but takes two to four weeks. Retail locations are fast but charge $3 to $10 and have strict limits on bond size.
| Location | Typical Fee | Processing Time | Dollar Limit |
|---|---|---|---|
| Credit Union | $0–$15 per bond | 1 business day | Varies; call ahead |
| U.S. Treasury (by mail) | Free | 2–4 weeks | None |
| Walmart / Grocery Store | $3–$10 | Same day | Usually under $1,000 |
The cheapest option is the Treasury, but it requires patience. The fastest is a retail location or credit union, but you pay for speed. Choose based on how urgently you need the cash and whether you want to avoid fees.
What happens if the bond is in someone else's name
If the bond belongs to a spouse, parent, or minor child, the rules depend on who is trying to cash it. A spouse can usually cash a bond in both names by signing it. For a bond in a child's name, a parent or legal guardian can cash it by bringing proof of guardianship (birth certificate, custody order, or power of attorney).
If you are cashing a bond for an elderly parent or someone unable to sign, you will need a power of attorney or a court-appointed guardianship document. A straightforward handwritten note from the bond owner is not enough. Credit unions and the Treasury both require legal documentation. If you do not have it, you will need to work with a lawyer to establish guardianship or power of attorney before you can cash the bond.
Frequently Asked Questions
Can I cash a savings bond if I do not know when it was issued?
Yes. The issue date is printed on the bond certificate itself. Look at the front—it will show the month and year. If you cannot read it or the bond is damaged, contact the Treasury at 844-284-2676 and they can look up the issue date using the bond's serial number.
What if I lost my savings bond certificate?
You will need to file a claim with the Treasury using Form PD 1048 (Claim for Lost, Stolen, or Destroyed Savings Bonds). This process takes several weeks. You will need the bond's serial number, issue date, and denomination if you have them. Once approved, the Treasury will issue a replacement or pay you the value.
Can I cash a bond at a bank if I do not have an account there?
Most banks will not cash savings bonds for non-customers. Some will for a fee, but it is not standard practice. Call ahead to ask. A credit union is a more reliable option for non-members.
Do I have to cash the whole bond, or can I cash part of it?
You must cash the entire bond. You cannot split a single bond between multiple people or cash a partial amount. If you own multiple bonds, you can cash some and keep others.
What if the bond is worth more than the cashing location's limit?
Use the Treasury by mail or find a credit union with a higher limit. Retail locations typically cap bonds under $1,000, but credit unions often have higher limits. Call ahead to confirm.