Redeeming Series H/HH Savings Bonds
Wednesday, January 19th, 2005
Categorized as: Cashing in US Savings Bonds • Series HH or H US Savings Bonds
I inherited some HH Bonds about three years ago. I receive interest every six months which would be this month and in June. I want to cash at least one of them in. Do I do it now? My bank will not cash it, so how do I proceed?
Financial institutions are sometimes reluctant to get involved in cashing Series H and Series HH bonds because they don't deal with them regularly.
Print out a copy of the Treasury's Direct Depost Sign Up Form. Check the Redemption Payment box at the top of the form and fill out the section requesting your name and address.
Then take the form to your bank and have them help you fill in the bank routing section. Then ask them to certify your signature on the back of the bonds.
If the bank objects to this, remind them that you aren't asking them to cash the bonds, that you intend to send them in yourself. The Treasury requires your signature to be certified by a bank. There's no way you can cash the bond without this certification.
Send the form and the certified bonds to the Federal Reserve. Complete instructions on this are in the post, what to do when your bank won't redeem a Savings Bond for you.
When you have to decide which Series HH bonds you will redeem, consider the interest rate each of your bonds is currently paying, how long each bond will pay that rate, and when each bond will mature.