Image-Enabled Savings Bond Processing

The Federal Reserve Banks accept image-eligible savings bonds in FedForward^® Service image cash letters (ICLs).

The Check Clearing for the 21st Century Act (Check 21), implemented in October 2004, has transformed the check collection system. The financial services industry has embraced the capabilities of Check 21, and today, check processing is nearly 100 percent electronic. For many financial institutions, savings bonds are the only remaining items still handled in paper form.

In response to requests from financial institutions, and to create a more efficient savings bond redemption process, the Bureau of the Fiscal Service implemented image-enabled processing of redeemed savings bonds in April 2012. Image-enabled processing allows for a more streamlined and cost-effective alternative for redeeming savings bonds. Financial institutions can leverage the efficiencies of electronic check processing, while eliminating the manual task of mailing redeemed savings bonds to a Treasury Retail Securities site for clearing.

For resources to assist in redeeming savings bonds, visit the Savings Bonds News You Can Use page. We encourage you to bookmark the page and check back often for updated content.

Image-Enabled Savings Bond Processing Resources

• Frequently Asked Questions
• Quick Reference Guide

More Information

To start using the image-enabled savings bond service, visit the FedForward Services setup page or contact your account executive.

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