ID requirements to redeem Savings Bonds
Thursday, November 18th, 2004
Categorized as: Cashing in US Savings Bonds
I work for a nursing home and one of our residents has bonds she needs to redeem. However, she has no ID. How can we help her get these bonds redeemed?
Tom's response
To redeem a Savings Bond, you need a bank official to certify the owner's signature on the back of the bond. Although banks generally require some type of personal identification, the actual requirements are up to the bank.
I recommend you contact the nursing home's bank and explain the situation. An officer of the bank may be willing to certify your resident's signature.
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Can I cash a bond if I am not a member of that bank?
Jason - it's up to each individual bank whether they will cash Savings Bonds at all or if they will cash a Savings Bond for any particular individual.
Certainly having an account at a bank helps, but it's not always a requirement and some banks won't cash Savings Bonds even if you do have an account with them.
If you have difficulty finding a bank that will complete a Savings Bond transaction for you, this post explains how to buy or cash in a Savings Bond through the Federal Reserve.
If I'm divorced can I cash bonds that I bought with my wife where some have my name and some hers. we had a non-contested divorce where we both just got what we each had. We did both pay for the bonds but because of the business I was in I got the bonds and she got the cash. The bonds are all older than ten years.
Jim - you can cash the bonds that list your name first. You can cash the bonds that have your name second if "OR" is between the names. Otherwise, you'll need your ex-wife's help in cashing the bonds, as only she can legally redeem them.
Tom Adams
My daughter has a number of bonds issued in her maiden name. Now that she's married how does she
go about cashing in these bonds as her married name won't be on the bonds?
Mark - this is extremely common; banks deal with it everyday. Your daughter will simply need to show documentation that the name on the bonds is her maiden name - maybe her marriage license?
Why women take their husband's names rather than keeping their own baffles me. It's much simpler just not to change your name.
Tom Adams
can i cash a savings bond that does not have my name on it
Hi Mike - No. Your name has to appear on the bond as the owner or co-owner or it's not legally yours. Thus no one will cash it for you.
Tom Adams