My father in law brought savings bonds for my kids when they were babies. They have finally matured and I was planning on giving them to my kids over Christmas.
How do they cash them? One banks at Wells Fargo and the other does her banking online only, not at a brick and mortar bank. This "child" has also gotten married so her name is no longer the same as on the savings bonds. Can she still get her money?
And help is greatly appreciated.
Savings bonds bought for my kids have finally matured
byu/littlelady275 inpersonalfinance
Posted by littlelady275
4 Comments
They don’t have to cash them. They’ll continue to earn interest.
I mailed mine in to cash them, myself, with zero problems.
I deposited mine a my bank branch. You just need to talk to one of the people that have a desk/office, not a teller. More recently, I go online to [treasurydirect.gov](https://www.treasurydirect.gov/) and once you establish a login/password there should be an option to pay out to your bank, physical or online bank.
Cashing in a EE savings bond. [https://www.treasurydirect.gov/savings-bonds/cashing-a-bond/](https://www.treasurydirect.gov/savings-bonds/cashing-a-bond/)
When you say it has matured, you may be referring to full face value. If so, they will continue to accrue interest until 30-years from the purchase date. Whether that rate is worth it to you (or them) vs cashing in is a decision you can make.
The links in the middle of this page will tell you the interest rate it is earning depending on the date of issuance: [https://www.treasurydirect.gov/savings-bonds/ee-bonds/](https://www.treasurydirect.gov/savings-bonds/ee-bonds/)
This link will tell you its current value (you do not need to enter the bond #): [https://www.treasurydirect.gov/BC/SBCPrice](https://www.treasurydirect.gov/BC/SBCPrice)
Depending on the series, you can mail them in with the appropriate paperwork to the Treasury, and they do direct deposit. They have all the instructions there and have thought of name changes, etc.
If you do send them in the mail, make a copy and send using certified mail!!