Retail

Does Walmart Cash Savings Bonds

By David Krug David Krug is the CEO & President of Bankovia. He's a lifelong expat who has lived in the Philippines, Mexico, Thailand, and Colombia. When he's not reading about cryptocurrencies, he's researching the latest personal finance software. 3 minute read

Investment in savings bonds is an excellent option to make a low-risk, long-term investment that can be cashed out at any time.

In light of Walmart’s Money Center’s check-cashing options, you may wonder: does Walmart cash savings bonds? Here’s what I discovered!

In 2022, does Walmart redeem savings bonds?

As of 2022, Walmart does not cash savings bonds. Instead, you can cash a paper savings bond at a local bank or credit union. Through the TreasuryDirect website, electronic bonds can be cashed. A savings bond can only be cashed after at least one year of ownership.

Continue reading to learn more about the locations where savings bonds can be cashed and the process for cashing traditional and electronic bonds.

Where Can Savings bonds be cashed?

You may redeem a paper series EE, E, or I savings bond at any local bank or credit union. Through the TreasuryDirect website, it is easy to cash in electronic bonds online.

However, if you own a Series HH bond, you won’t be able to withdraw cash from your local bank.

Direct deposit of the purchase price will be made by Treasury Retail Securities Services, who will authenticate your ownership of the bond and transmit it to your local bank.

Do Savings Bonds Have a Cash-Out Timeframe?

To redeem a savings bond from a series EE, E, or I, you must wait 12 months (one year).

Cashing your bond before five years has expired will result in a penalty, so keep that in mind.

Savings bonds that have been affected by a natural disaster or are no longer yielding interest may be cashed in after one year without penalty.

In what ways are paper savings bonds redeemable?

With this information, go to a bank or credit union:

  • Cashing out a savings bond
  • Proof of one’s identity (contact the institution in advance to find out what is accepted as proof of ID)
  • The death certificate of the former owner of the bond is required if you are mentioned as a beneficiary in a will

These documents are all that are needed to get your savings bonds cashed.

In what ways are electronic savings bonds redeemable?

To redeem an electronic savings bond, go to the TreasuryDirect website, log in using your credentials, and then follow the on-screen instructions. Please allow two business days for the money to be deposited into your savings or checking account.

Is there a limit to the amount of money you can withdraw at a time?

There is no formal restriction on how much you can cash in paper bonds, thus this can vary from bank to bank and financial institution to financial institution.

A portion of a savings bond cannot be cashed; it must be cashed in its entirety.

You can withdraw any amount over $25 in 1-cent increments from electronic bonds. Leaving $25 in your TreasuryDirect account is required if you simply want to cash a portion of the money.

To understand more, you may also find out if Walmart takes EFS checks, the Walmart cash back cap, and if Walmart accepts starter checks..

Bottom Line

Save your money by not using any of Walmart’s EE, E, I or HH savings bonds in one of their locations. Although you can cash physical bonds at a bank or credit union, you can also cash electronic bonds at the TreasuryDirect website. To cash a savings bond, you must hold it for a year after you purchase it.

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