Walmart does not cash savings bonds
Walmart does not offer savings bond redemption at any of its locations, including its MoneyCenter services. Walmart cashes checks, sells money orders, and handles wire transfers, but the systems required to verify and process savings bonds—which involve Treasury Department records and serial number validation—are not part of their service lineup.
If you hold a paper savings bond and need to turn it into cash, you have three main routes: your bank, the U.S. Treasury Department directly, or a credit union. Each has different requirements and timelines, and the path you choose depends on whether your bond has matured, whether you have the original paper certificate, and how quickly you need the money.
Key Takeaways
- Banks and credit unions are the fastest way to cash a savings bond if you have an account with them and the bond has reached final maturity.
- The U.S. Treasury will redeem any savings bond directly through TreasuryDirect or by mail, but the process takes longer and requires the original paper certificate.
- Series I and Series EE bonds purchased after 2005 are digital-only and cannot be cashed at a physical location—they must be redeemed through TreasuryDirect online.
- If your bond is not yet at final maturity, you may face a penalty equal to the last three months of interest, depending on the bond type and how long you have held it.
Cashing a bond at your bank or credit union
Your bank or credit union is usually the fastest option if you have an account there and the bond has matured. Bring the original paper savings bond certificate, a government-issued ID, and your account information. The teller will verify the bond's authenticity by checking the serial number against Treasury records, then deposit the redemption amount directly into your account.
Not all banks handle savings bonds—call ahead to confirm. Some larger banks like Bank of America, Chase, and Wells Fargo do, but smaller regional banks and online-only banks often do not. Credit unions vary by institution; ask your credit union whether they offer bond redemption before you visit.
The process usually takes one business day once you hand over the bond. If the bond has not yet reached final maturity, the bank will calculate any applicable penalty and deduct it from the redemption amount before crediting your account.
Redeeming through TreasuryDirect if you own digital bonds
If you purchased your savings bond after 2005, it exists only in digital form in your TreasuryDirect account. You cannot take a paper certificate to a bank because none exists. Instead, log into your TreasuryDirect account at treasurydirect.gov, select the bond you want to redeem, and request the redemption online.
The Treasury will deposit the funds into the bank account linked to your TreasuryDirect account within two to three business days. You do not need to visit any physical location. If the bond has not reached final maturity, the system will show you the penalty amount before you confirm the redemption.
If you have forgotten your TreasuryDirect login, you can reset it using your Social Security number and email address. If you no longer have access to the email address on file, contact the Treasury's customer service line at 844-284-2676 to update your account before attempting to redeem.
Mailing a bond directly to the Treasury
If your bank does not redeem bonds or you prefer not to use TreasuryDirect, you can mail the original paper certificate to the Bureau of the Fiscal Service. Include a letter stating your name, Social Security number, the bond's serial number, and the bank account where you want the funds deposited. Sign the letter and include a copy of your ID.
Mail the package to: Bureau of the Fiscal Service, Parkersburg, WV 26106-1328. The Treasury recommends sending it via certified mail so you have proof of delivery. Processing takes four to six weeks from the date they receive it, so this is the slowest option but works if you have lost access to your TreasuryDirect account or do not have a bank account.
Include a phone number in your letter in case the Treasury needs to contact you about the bond. Do not send the original certificate by regular mail if you can avoid it—certified mail costs a few dollars but protects you if the package is lost.
Understanding maturity and early redemption penalties
Series EE bonds can be redeemed anytime after one year, but if you redeem before five years have passed, you lose the last three months of interest. Series I bonds have a one-year holding period before you can redeem them, and redeeming before five years also costs you three months of interest. Series HH bonds (no longer sold) have different rules depending on when they were issued.
If your bond has reached final maturity—typically 30 years after issue—it stops earning interest and you should redeem it. Holding it longer gains you nothing. Check your bond's issue date and type to determine whether you will face a penalty. The Treasury's website has a savings bond calculator that shows you the exact redemption value based on the bond's series, denomination, and issue date.
What to do if you have lost the paper certificate
If you have lost the original paper bond but remember its serial number, you can contact the Treasury at 844-284-2676 or submit a form to request a replacement. You will need to provide the bond's series, denomination, issue date, and serial number if you have it. The Treasury can issue a replacement certificate, which you can then take to a bank or mail in for redemption.
If you do not remember the serial number, the Treasury may still be able to locate the bond using your name and Social Security number, but the process takes longer. Have your Social Security number and any documentation of the bond's purchase ready when you call.
Frequently Asked Questions
Can I cash a savings bond at Walmart MoneyCenter?
No. Walmart MoneyCenter handles checks, money orders, and wire transfers, but not savings bonds. You will need to visit a bank, credit union, or work through TreasuryDirect or the Treasury Department directly.
What if my savings bond is not yet mature?
You can still redeem it, but you will lose the last three months of interest as a penalty. The bank or Treasury will calculate this and deduct it from your redemption amount before paying you. If the penalty is significant, you may want to wait until the bond reaches five years old to avoid it.
How long does it take to get my money after I redeem a bond?
At a bank, usually one business day. Through TreasuryDirect, two to three business days. By mail to the Treasury, four to six weeks. The fastest option is always a bank or credit union if you have an account there.
Do I need the original paper certificate to redeem a digital bond?
No. Digital bonds purchased after 2005 exist only in TreasuryDirect. You redeem them online without any paper certificate. If you have a paper certificate, it is an older bond and must be redeemed at a bank or through the Treasury.
What happens if I redeem a savings bond before it reaches final maturity?
The redemption value will be lower because you lose three months of accrued interest as a penalty. The exact amount depends on the bond's series and how long you have held it. The bank or Treasury will show you the penalty before processing the redemption.