How to Cash a Savings Bond Without a Bank Account

Savings bonds are secure, low-risk investments issued by the U.S. Department of the Treasury, backed by the full faith and credit of the United States government. This guide provides clear steps for cashing paper savings bonds without a traditional bank account.

Identifying Your Savings Bond and Eligibility

Before redemption, understand your savings bond’s details and eligibility. Each bond displays its series (e.g., EE or I) and issue date. Bonds must be held for a minimum of one year before redemption. Cashing them before five years results in forfeiture of the last three months of interest.

Eligibility generally falls to the registered owner or a co-owner listed on the bond. If the owner is deceased, a surviving beneficiary can redeem the bond by providing a copy of the death certificate. Legal representatives, such as those acting under a power of attorney or court order, may also redeem bonds with appropriate documentation.

Available Redemption Methods Without a Bank Account

The primary method for cashing a paper savings bond without a bank account is mail-in redemption directly with the U.S. Treasury’s Retail Securities Services. Payment is made by check, mailed to your provided address.

Some commercial banks or credit unions may cash savings bonds for non-customers, but policies vary. Many institutions require a customer relationship or charge a fee. Contact local financial institutions beforehand to inquire about their specific policies.

Executing the Mail-In Redemption

Mail-in redemption to the U.S. Treasury is the most practical approach. This process begins by obtaining FS Form 1522, titled “Special Form of Request for Payment of United States Savings and Retirement Securities Where Use of a Detached Request Is Authorized.” This form can be downloaded and printed from the TreasuryDirect website.

Once you have the form, carefully complete all required sections. You will need your bond’s serial number(s), issue date(s), and face value. Also provide your full name, current mailing address, and Social Security Number or Taxpayer Identification Number. Ensure all information is legible and accurate to avoid delays in processing.

The signature requirements for FS Form 1522 depend on the redemption value of your bonds. If the total current redemption value of your bonds is $1,000 or less, your signature does not require certification; you simply sign the form and include a photocopy of your valid identification. For bonds exceeding $1,000 in value, each person whose signature is required must sign the form in the presence of a notary public or an authorized certifying officer. Notaries are generally acceptable, and they will affix their seal or stamp to validate the signature.

After completing and, if necessary, having the form certified, assemble your redemption package. This package must include the original paper savings bond(s), the fully completed and signed FS Form 1522, and a clear photocopy of your valid identification. It is important to never send original identification documents through the mail.

Finally, mail the complete package to the U.S. Treasury’s Retail Securities Services. The correct mailing address is P.O. Box 9150, Minneapolis, MN 55480-9150. To ensure safe delivery and tracking, it is recommended to use a secure mailing method, such as certified mail with a return receipt. After the Treasury receives and processes your request, a check for the redemption amount will be mailed to the address you provided on the form, typically within a few weeks.