I have several savings bonds for my minor children that are payable on death to me, but I want to redeem them. Can I do that?
Go to your bank. If your bank is satisfied as to your children's identity because you are a known customer and you vouch for them, and if your children are old enough to understand what they are doing when cashing the bonds, the bank will likely take care of it for the children. If your children are not old enough to understand what redeeming the bonds means, your bank may be willing to let you sign and redeem the bonds on behalf of your children. There is specific wording, which the bank can find in its Guide to Savings Bond Redemption, that you'll need to add to your signature. You should note, however, that the bank is not obligated to cash the bonds for you. It may ask you to send the bonds and your request to a Federal Reserve Bank.
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Go to your bank. If your bank is satisfied as to your children's identity because you are a known customer and you vouch for them, and if your children are old enough to understand what they are doing when cashing the bonds, the bank will likely take care of it for the children. If your children are not old enough to understand what redeeming the bonds means, your bank may be willing to let you sign and redeem the bonds on behalf of your children. There is specific wording, which the bank can find in its Guide to Savings Bond Redemption, that you'll need to add to your signature. You should note, however, that the bank is not obligated to cash the bonds for you. It may ask you to send the bonds and your request to a Federal Reserve Bank.
