You can cash a savings bond without a bank account, but the method depends on the bond type and issuer

If you hold a paper savings bond issued by the U.S. Treasury, you have several ways to cash it without needing a bank account. The most direct route is to visit a bank or credit union in person with the bond and a valid ID—they will cash it on the spot, even if you have no account there. You can also mail the bond to the Treasury's Bureau of the Fiscal Service with a form, or take it to a post office that offers savings bond services. For digital bonds held in TreasuryDirect, you will need to set up an account with a financial institution to receive the proceeds, but that account does not have to be a traditional bank.

The path you choose affects how long the process takes and what paperwork you need. In-person cashing at a bank is fastest—usually same-day or next business day. Mailing takes two to four weeks. Digital bonds require a few extra steps because the Treasury cannot send you a paper check; they must deposit the money electronically.

Key Takeaways

  • Paper savings bonds can be cashed at any bank or credit union without an account; bring the bond and a valid ID.
  • Post offices that offer savings bond services can also cash paper bonds, though not all locations do.
  • You can mail a paper bond to the Treasury's Bureau of the Fiscal Service with Form FS 1522, which takes two to four weeks.
  • Digital bonds in TreasuryDirect require you to link a bank or credit union account to receive the cash, but you can open one just for that purpose.
  • If a bond is in someone else's name or you are cashing it on behalf of a minor, you will need additional documentation like a power of attorney or guardianship papers.

Cashing a paper bond at a bank or credit union

Walk into any bank or credit union with your paper bond and a government-issued ID—a driver's license, passport, or state ID card all work. The teller will verify the bond's serial number and your identity, then hand you the cash or issue a check. This is the fastest method and works whether or not you have an account at that institution. Some banks may ask you to fill out a simple form, but most do not.

Bring the bond itself, not a photocopy. The teller needs to see the original to confirm it has not been altered and to record the transaction. If the bond is in both your name and someone else's name, both people may need to be present, depending on how the bond was registered. Check with the bank ahead of time if you are unsure.

Credit unions sometimes have stricter policies than banks. A few credit unions will only cash bonds for members, so call first if you do not have an account. Most will cash them for anyone, but it is worth confirming rather than making a trip for nothing.

Using the U.S. Postal Service

Not all post offices cash savings bonds, but many do. Call your local post office or check the USPS website to confirm they offer this service before you go. Those that do will cash paper bonds the same way a bank does—you show your ID, they verify the bond, and you receive cash or a check.

This option is useful if you live in a rural area or do not have a bank nearby. The process is identical to a bank visit: bring the bond and ID, and the transaction is complete the same day.

Mailing a paper bond to the Treasury

If you cannot visit a bank or post office in person, you can mail your bond to the Bureau of the Fiscal Service. You will need to complete Form FS 1522 (Statement Regarding Inherited Savings Bonds) or Form FS 1048 (Affidavit Regarding Savings Bonds), depending on your situation. The form asks for your name, address, the bond's serial number, and how you want to receive the money.

Mail the bond and completed form to the address listed on the Treasury's website for your state. Include a copy of your ID. The Treasury will process the request and send you a check, which takes two to four weeks from the date they receive it. This method is slower than in-person cashing but works if you are unable to leave home or live far from any financial institution.

Do not send cash or a personal check with the form. The Treasury will only send money back to you, not accept payment by mail.

Cashing digital bonds from TreasuryDirect

If your bond is held in a TreasuryDirect account, you cannot receive cash without linking a bank or credit union account to your profile. The Treasury does not mail checks for digital bonds; all redemptions are deposited electronically.

You can open a checking or savings account at any bank or credit union just to receive the bond proceeds. You do not need to keep money in it or use it for anything else. Once the account is open and linked to TreasuryDirect, you can redeem the bond online, and the money will arrive in that account within one to three business days.

If you do not have a bank account and do not want to open one, you have a few alternatives. Some credit unions and online banks have lower or no minimum balance requirements, making them easier to open. You could also ask a trusted family member to let you use their account temporarily, though this requires them to share login information and carries some risk. Another option is to contact the Treasury's customer service line to ask about other redemption methods, though they will likely direct you back to the account-linking requirement.

What to do if the bond is in someone else's name

If you are cashing a bond registered in another person's name, the requirements change. If that person is alive, they must be present or sign a power of attorney form authorizing you to cash it. If they have passed away, you will need a death certificate and proof that you are the heir or executor of their estate.

For a minor's bond, a parent or legal guardian can cash it by bringing the minor's birth certificate and their own ID. Some banks may require the minor to be present as well, so call ahead.

If the bond is registered to two people and only one is available, you cannot cash it without the other person's signature or a legal document like a power of attorney. The Treasury and banks treat co-registered bonds as requiring both owners' consent.

What happens if you cannot find the bond

If you have lost a paper bond, you can request a replacement from the Treasury. You will need to file a claim with the Bureau of the Fiscal Service and provide the bond's serial number if you have it. The process takes several weeks and requires proof of ownership, such as old bank statements showing the purchase or correspondence from the Treasury.

For digital bonds in TreasuryDirect, there is no physical bond to lose. You access them through your online account, so as long as you remember your login information, you can redeem them anytime.

Frequently Asked Questions

Do I need to be the person whose name is on the bond?

Not necessarily. If the bond is in someone else's name, that person must authorize the cash-out in writing or be present. If they have died, you need proof you are the heir or executor. If it is a minor's bond, a parent or guardian can cash it on their behalf.

Can I cash a bond at any bank, or does it have to be my bank?

Any bank or credit union will cash a paper savings bond, even if you have no account there. You just need the bond and a valid ID. Some credit unions limit this service to members, so call first if you are unsure.

How long does it take to get the money if I mail the bond?

The Treasury typically takes two to four weeks to process a mailed bond after they receive it. Mail delivery adds another few days on each end, so plan for three to five weeks total from the time you drop it in the mail.

What if the bond has matured and stopped earning interest?

A matured bond can still be cashed for its full value. You will not earn any more interest after the maturity date, so there is no reason to hold it. Cash it using any of the methods above.

Can I cash a bond online without going to a bank?

Only if it is a digital bond in TreasuryDirect. Paper bonds must be cashed in person at a bank, post office, or by mail to the Treasury. You cannot cash a paper bond online.