I’ve got a small pile of E and EE savings bonds that have all matured.
Looking into the redemption process, it seems I can fill out a form, print it out, get my signature certified by a bank or notary because the total value is over $1000, and send them in to the Treasury in Minneapolis to have them processed and the funds direct deposited into my checking account.
It also seems that I can convert them to electronic bonds by creating a Treasury Direct account, filling out a form online and sending them in to the Treasury in Minneapolis. Some of the fine print says that converted bonds will be cashed out immediately upon maturity (and the proceeds automatically reported to the IRS). As all of my bonds have already matured, I assume when they process them for conversion, they will then just cash them and direct deposit my checking account. This would appear to save me the step of getting my signature on the redemption form certified.
I looked at converting some of my paper I bonds and the process seems a little more complicated than it should be just to get them electronic. To cash out you would just go to your local bank (note: not all banks convert bonds so if your bank is 9th City Bank of Hooterville this may not work) and IIRC you endorse them, sign a paper and you get the cash. If they are already matured I don’t know why you wouldn’t do this and then if you want to keep it as saving put it into an account, rebuy bonds, etc.
At a bank: Banks vary in how much they will cash at one time – or if they cash savings bonds at all.
That bank may only cash $1000 but others may cash more. OR maybe the bank will cash the full amount if you have an account that they can put it in versus giving you cash.
A couple decades ago my aged MIL “cashed” nearly $100K of paper savings bonds. Many of which had not earned a penny of interest since they’d matured a decade before then. D’oh!
Took the whole pile to the bank, endorsed each one for the bemused teller, they put the money in her checking account then and there. Easy Peasy.
I suspect the OP will have a similar experience if they bank with any good-sized bank.