The Ops Stop provides your organization with a one-stop shop full of helpful operational resources offered by the Federal Reserve Banks. For this installment of the series, we are featuring the new Savings Bond Valuation and Verification tool, which enables paying agent institutions to quickly calculate a savings bond’s total value and verify its validity.
In early 2020, the U.S. Department of the Treasury’s Bureau of the Fiscal Service (Fiscal Service) launched a simple and easy-to-use Savings Bond Valuation and Verification (SBVV) tool (Off-site). Please review the frequently asked questions below to learn more about the SBVV tool’s many benefits.
Q Do I have to be granted access to use the SBVV tool?
A No, simply use this URL to access the SBVV tool: sbvv.treasurydirect.gov (Off-site).
Q Is it complicated to validate a savings bond or calculate its value?
A No, you simply enter the bond serial number into a single field and then click the Validate button to quickly verify that the bond is valid and to see the redemption value. However, detailed instructions (Off-site) are available within the SBVV tool if you need assistance.
Q What functionality does the tool offer?
A Once your institution begins using the SBVV tool, your customer-facing staff will be able to:
- Automatically populate a bond’s serial number via a magnetic ink character recognition (MICR) check reader
- Instantly view the value and interest of a bond
- Accurately tally the sum of multiple bonds that are eligible to be cashed
- Quickly identify invalid bonds that need further research
Q What benefits does the SBVV tool offer?
A In addition to a more streamlined redemption process, the SBVV tool also lessens the risk of redeeming an invalid bond. Read the Fed360® article, “Are you benefitting from the new Savings Bond Valuation and Verification Tool?” to learn more about its many benefits.
Q What do I do if a bond is not valid?
A You can use the Bond Return Form, which is available within the SBVV tool. Complete the form and mail it, along with the bond in question, to the address on the form.
Q What other savings bond resources are available?
A The Savings Bond Redemptions Frequently Asked Questions and The Guide to Cashing Savings Bonds (Off-site) are great resources to get the answers you need, when you need them. And, of course, Savings Bond Customer Support Contacts are always available to assist you at (844) 284-2676.
Throughout the 85-year evolution (Off-site) of the U.S. Savings Bonds Program, Fiscal Service has continually relied on feedback provided by paying agent institutions, such as yours. The easy-to-use SBVV tool now offers paying agents a great solution for cashing savings bonds.
