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Does TD Bank cash savings bonds for non-customers? Is there a fee?
December 6, 2014 03:51:33 PM
In reply to Aaron, Somerville
Welcome to TD Helps, Aaron. We are glad you came to us for your answer.
We're happy to say that TD Bank remains committed to maintaining a high level of Customer satisfaction. Both TD Bank Customers and Non-TD Bank Customers may redeem EE Bonds at any TD Bank location and there is no charge for this service. To find out TD store locations and hours near you, please visit, http://bit.ly/TDStores.
Please note that government regulations require that Non-Customers and Customers with a bank relationship 6 months or less can redeem up to $1,000.00 at any one time with proper ID. Also that EE Bonds must be held for a minimum of 12 months from the issue date before they are eligible for redemption. We also recommend that you record your own Social Security Number on the back of the bonds. It's your responsibility for claiming the interest gained and it will be sent via 1099 at the end of the year for tax reporting purposes.
You can also call 1-800-US-BONDS (1-800-872-6637) or access the U.S. Government Bonds website at www.savingsbonds.gov for current interest rates and redemption values, including interest earned.
Let us know if you have any other questions. We hope you have a nice weekend!
LiShu R, Mount Laurel
December 6, 2014 03:52:16 PM
In reply to LiShu, Mount Laurel
So, I cashed a couple hundred in savings bonds the other day and received around $300 in interest. From what you said above, does this mean that I will not see this $300 until I file my taxes for the year? Also, does this mean that my interest money will still get deposited into my account via TD Bank, or will I receive it in my tax return?
Thank you so much!
July 24, 2015 03:20:57 PM
In reply to Colleen, Media
Thanks for joining us, Colleen. We'd be glad to clarify.
When you redeem savings bonds, you are given the total amount (value and interest) at the time of redemption. It is your responsibility when filing your taxes to claim the interest earned on the bonds. At the end of the year you will be sent a 1099 form for tax purposes.
If you made a cash deposit the same day, the total value of the bonds and interest would have been deposited.
To discuss your deposit in greater detail, we ask that you reach out to us directly for assistance. You are able to call us 24/7 by dialing 888-751-9000 or by visiting a TD Store. To take a look at TD Stores near you please visit http://bit.ly/TDStores.
Please know that we would like to assist you directly however TD Helps is considered and unsecured forum and we do not have access to your account/personal information.
We hope this helps, Colleen and have a good day.
Megan K, Mount Laurel
July 24, 2015 03:21:20 PM