How do you cash Saving Bonds?

[Twista]

I got a $100 bond when i was alittle and im wondering how can i cash that now? Where do i take it?

 

[K1052]

A bank that can cash US savings bonds.

 

[lightweight]

I think that any bank should cash your bond. If it's a premature cashing, you will not get the full value of the bond.

 

[brtspears2]

Walk into a bank. They got software to figure out how much it is worth.

You can always look at the bond redemtion tables. http://www.publicdebt.treas.gov/sav/savrdtbl.htm

 

[forrestroche]

Be sure to bring a passport.

 

[FoBoT]

take it to any place that sells them
most banks

try your own bank first

 

[BW86]

Originally posted by: forrestroche
Be sure to bring a passport.

why?

Just go to any bank. When I cahsed some of mine in, I needed two forms of ID so be prepared.

 

[forrestroche]

Originally posted by: BW86

Originally posted by: forrestroche
Be sure to bring a passport.

why?

Just go to any bank. When I cahsed some of mine in, I needed two forms of ID so be prepared.

You have to have a passport.

 

[BW86]

Originally posted by: forrestroche

Originally posted by: BW86

Originally posted by: forrestroche
Be sure to bring a passport.

why?

Just go to any bank. When I cahsed some of mine in, I needed two forms of ID so be prepared.

You have to have a passport.

I cashed $1500 worth of bonds and didn't have a passport. I needed my Drivers License and another form of ID (my school ID).

 

[Bryophyte]

Originally posted by: forrestroche

Originally posted by: BW86

Originally posted by: forrestroche
Be sure to bring a passport.

why?

Just go to any bank. When I cahsed some of mine in, I needed two forms of ID so be prepared.

You have to have a passport.

No, you don't.

Just take it to your own bank. Fill out the back with current information. They'll give you a form showing interest you gained for you to save for when you do your taxes next year.

 

[forrestroche]

Originally posted by: BW86
I cashed $1500 worth of bonds and didn't have a passport. I needed my Drivers License and another form of ID (my school ID).

Those weren't bonds, they were scratch cards.

You need a passport.

 

[forrestroche]

Originally posted by: Bryophyte
Just take it to your own bank. Fill out the back with current information. They'll give you a form showing interest you gained for you to save for when you do your taxes next year.

Sure, for a CD.

Bring a passport.

 

[FoBoT]

http://www.publicdebt.treas.gov/sav/sbfaqcsh.htm

 

[Bryophyte]

Originally posted by: forrestroche

Originally posted by: Bryophyte
Just take it to your own bank. Fill out the back with current information. They'll give you a form showing interest you gained for you to save for when you do your taxes next year.

Sure, for a CD.

Bring a passport.

Do you understand what a US Savings Bond is? It is not a CD, it is not traditional "bonds". It is something different. You do NOT need a passport.

Edit: having said that, there is nothing wrong with using your passport for ID when cashing them, but it is NOT necessary to use a passport as a form of ID when cashing US Savings Bonds.

 

[forrestroche]

Originally posted by: Bryophyte
Do you understand what a US Savings Bond is? It is not a CD, it is not traditional "bonds". It is something different. You do NOT need a passport.

Edit: having said that, there is nothing wrong with using your passport for ID when cashing them, but it is NOT necessary to use a passport as a form of ID when cashing US Savings Bonds.

A passport and a military ID. It's the only way.

 

[forrestroche]

Originally posted by: FoBoT
http://www.publicdebt.treas.gov/sav/sbfaqcsh.htm

That's out of date.

 

[crystal]

Originally posted by: forrestroche

Originally posted by: BW86
I cashed $1500 worth of bonds and didn't have a passport. I needed my Drivers License and another form of ID (my school ID).

Those weren't bonds, they were scratch cards.

You need a passport.

When I cashed some Series EE a few years back, I didn't need any passport.

 

[forrestroche]

Originally posted by: crystal
When I cashed some Series EE a few years back, I didn't need any passport.

Yeah - series EE scratch cards.

 

[Twista]

Well i didnt cash it.

I had a $100 bonds from 1994 and they only wanted to give me $75 for it. :/

 

[MattCo]

Originally posted by: Twista
Well i didnt cash it.

I had a $100 bonds from 1994 and they only wanted to give me $75 for it. :/

You were little in 1994?

 

[Twista]

Originally posted by: MattCo

Originally posted by: Twista
Well i didnt cash it.

I had a $100 bonds from 1994 and they only wanted to give me $75 for it. :/

You were little in 1994?

Comapred to be 19 now.. yah Whats that? 8 years old...

 

[qaa541]

Originally posted by: Twista
Well i didnt cash it.

I had a $100 bonds from 1994 and they only wanted to give me $75 for it. :/

The thing with paper bonds is that you buy them at discount. The FACE value is what it says on the bond itself (in your case $100). They sold that bond to whomever bought it at 50% discount (e.g. they paid $50 for it). The way that bond works is that after x amount of years (17 years I think), the bond gets its face value ($100) so you can go to the bank and they will give you $100. Now if the actual interest has been more than double, you get that amount but you are guaranteed at least double after 17 years. Anything less than 17 years you will get whatever the interest is only (not necessarily 100% face value of the bond).

 

[FoBoT]

savings bonds are sold at 50% of face value, so a "$100" saving bond was sold for $50

depending on the series, the interest rate is either variable or some low fixed rate


so it may take many many years to double in value to the face value

 

[CPA]

Originally posted by: forrestroche

Originally posted by: Bryophyte
Do you understand what a US Savings Bond is? It is not a CD, it is not traditional "bonds". It is something different. You do NOT need a passport.

Edit: having said that, there is nothing wrong with using your passport for ID when cashing them, but it is NOT necessary to use a passport as a form of ID when cashing US Savings Bonds.

A passport and a military ID. It's the only way.

lol, keep going, maybe they'll catch on.

 

[tfinch2]

Originally posted by: forrestroche

Originally posted by: BW86

Originally posted by: forrestroche
Be sure to bring a passport.

why?

Just go to any bank. When I cahsed some of mine in, I needed two forms of ID so be prepared.

You have to have a passport.

I cashed some US Savings Bonds a few months ago that I was given when I was little. I didn't have a passport or a military ID. Try again.