|
 |
Home >> Manage Your Money >> Personal Finance
Cashing Savings Bonds Anywhere
I tried to cash some goverment savings bonds, and was informed that I would have to have an account to cash them. I thought saving bonds were public tender, cashable anywhere. Have some banks become private banks, catering to account holders only? Is this allowed? I went to another bank and they asked me if I had an account there. I informed them that I didn't, but they cashed it anyway after I brought it to their attention that it was public tender. The first bank said I had to have an account so that they ccould verify my identity, but I have proof who I am, that I am the person named on the bond, they refused to cash. Is this allowed?
|
Untitled
|
 Banks that participate in the government's bond program are required to handle bond redemption for all bond holders who can provide acceptable identification, but cannot cash more than $1,000 (redemption value) for a non-customer. To be a customer for bond-cashing purposes, you must have been a customer for six months or more.
Published on BankingQuestions.com 2/18/09
|
| |
|
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
