How to cash in savings bonds

If you have savings bonds that are ready to be cashed in this article is for you.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Savings Bonds
• Bank Account
• Identification

1. If the bonds are in your name you are automatically entitled to cash. Most financial institutions will cash in your savings bonds with the proper identification. If you have a checking/savings account at a bank for at least a year you will have no problem cashing them in.

2. For Series I and E savings bonds purchased after Feb.1, 2003, you must hold them for one year before cashing them in.

3. If you don't have an account at a bank,you are only able to cash $1000 worth of savings bonds at one time. Also proper identification is required.

4. If you don't own the savings bonds, you need to prove that you have a right to cash them. This proof might be a death certificate of the savings bond owner saying that you are the beneficiary.

Tips & Warnings

• Think before you decide to cash in your savings bonds. Most earn between 4% and 6% tax free! You should only cash in your bonds if you really need to.

[marielc]

on 5/20/2009 I had no idea that you can cash them at your local bank. Cool!