Series EE US Savings Bonds

Over the years, family and friends gifted a bunch of Series EE US Savings Bonds and at different times we've tried to cash them at two different banks (PNC and Wells Fargo). We've gotten the run around both times since the person we spoke to each time doesn't know anything about them.

The "children" are all adults now. While the "to" name is the child, either my husband or I, or in one case my husband AND I are the PODs on the bonds. Who needs to be there to redeem them? If my husband is the POD and we have a joint bank account, if he is the POD, can I represent him? On the younger bonds it says " Interest Ceases 30 Years from Issue Date". Do we have to wait until those bonds are 30 years old? What's the value of those interest-accruing bonds now?

TIA.


You can calculate their worth right here. Probably other info about reeeming as well.

http://www.treasurydirect.gov/BC/SBCPrice


If they are still accruing interest, think hard about redeeming them. The ones I have are accruing at a stated rate well above anything else you get in a safe investment.


I believe you can go to the savings bond website, open an account, and cash in your bonds by inputting the required info. It's simple, just a bit time consuming.


Paper EE bonds have a guaranteed interest rate of 3.5% if held for the full twenty years to reach face value. I've been cashing our payroll savings bonds steadily for the last few years to get tax-free interest towards higher education costs (income limits apply). The Savings Bond Wizard gives me a spreadsheet to record the serial numbers and calculate the interest. I can also figure out which are the lowest interest bearing bonds (1.4%) and cash them first, allowing my 3.70% bonds to hold out a little longer.

Bank of America now limits customers to 10 at any given time. Some banks refuse to cash them; Treasury Direct can be accessed online with no limits.

The gift bonds in the children's names will be cashed sometime before they stop receiving interest 30 years from month of purchase by one of the named owners. While their income is still low, the tax paid on the accrued interest is not too hard to handle. My daughter will be cashing in most of hers to pay off some student loan interest before it gets rolled into the principle amount in December. She will still have to pay tax on the accrued interest.



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