Can You Cash Savings Bonds at Chase Bank?

Chase Does Not Cash U.S. Savings Bonds

Chase Bank does not cash U.S. Savings Bonds — neither Series EE, Series I, nor any other type issued by the U.S. Department of the Treasury. If you hold a savings bond and want to convert it to cash, you will need to go through a different institution or process.

This is true across all Chase branches nationwide. The bank's teller network does not have access to the Treasury's bond redemption system, so even if you walk into a branch with your bond in hand, they cannot process the transaction for you.

Key Takeaways

• Chase Bank cannot redeem U.S. Savings Bonds of any series, and no commercial bank can process this transaction.
• The U.S. Treasury's official website (TreasuryDirect.gov) allows you to redeem bonds online if you own them in electronic form.
• Paper savings bonds can be redeemed at most banks that offer savings accounts, including Bank of America, Wells Fargo, and smaller regional banks — but you must call ahead to confirm they still redeem bonds.
• If your bond is lost, stolen, or damaged, the Treasury can issue a replacement through a separate process that takes several weeks.

Where You Can Actually Redeem a Savings Bond

If you own an electronic savings bond through TreasuryDirect, you can redeem it directly on the TreasuryDirect website without visiting any bank. Log into your account, select the bond you want to cash, and request redemption. The money will be deposited into your linked bank account within one to three business days.

If you hold a paper savings bond, you have two main options. First, contact your own bank — not Chase, but the bank where you have a checking or savings account. Many banks still redeem paper savings bonds for their customers, though the practice has become less common. Call ahead before you visit, because some branches no longer offer this service or require advance notice.

Second, if your bank will not redeem the bond, you can mail it to the Treasury's Bureau of the Fiscal Service along with a completed FS Form 1522 (the bond redemption form). The Treasury will process your request and mail you a check, though this method takes four to six weeks.

What Information You Need to Redeem

For an electronic bond through TreasuryDirect, you only need your login credentials and the bond's serial number, which appears in your account dashboard.

For a paper bond redeemed at a bank, bring the physical bond itself plus a government-issued photo ID. The teller will verify the bond's authenticity and your identity before processing the redemption. Some banks may also ask for your Social Security number or account number at that bank.

If you are mailing a paper bond to the Treasury, you will need to complete FS Form 1522, include a photocopy of your ID, and mail both the form and the bond to the address listed on the form. The Treasury's website has a downloadable version of the form and detailed mailing instructions.

Why Banks Like Chase Stopped Redeeming Bonds

Large national banks including Chase, Bank of America, and Wells Fargo have gradually stopped offering in-branch bond redemption over the past decade. The reason is straightforward: the volume of paper savings bonds being redeemed has dropped sharply as more people move to electronic bonds through TreasuryDirect.

Processing a paper bond redemption requires the bank to verify the bond's authenticity, confirm the owner's identity, and submit the transaction to the Treasury — all for a transaction that generates no fee for the bank. As fewer customers needed this service, banks decided the cost of maintaining the capability was not worth it.

Smaller regional banks and credit unions have been more likely to keep this service available, so if you hold a paper bond, your local bank or credit union may still redeem it even if Chase will not.

What to Do If Your Bond Is Lost or Damaged

If your paper savings bond is lost, stolen, or too damaged to redeem, you can request a replacement from the Treasury. Complete FS Form 1048 and mail it to the Bureau of the Fiscal Service with any documentation you have — such as purchase records or old statements showing the bond's serial number.

The Treasury will investigate your claim and, if approved, issue a replacement bond. This process typically takes six to eight weeks. You will need to provide as much information as possible about the original bond: the series, the issue date, the denomination, and the serial number if you have it.

Electronic Bonds vs. Paper Bonds

If you are buying new savings bonds, the Treasury only sells them in electronic form through TreasuryDirect. Paper bonds have not been issued since 2011. This means that if you own a paper bond today, it was purchased before 2011, and you have the option to convert it to electronic form through TreasuryDirect if you want easier redemption.

To convert a paper bond to electronic form, you will need to set up a TreasuryDirect account, then contact the Treasury to request the conversion. The process takes a few weeks, but once complete, you can redeem the bond online whenever you choose.

Frequently Asked Questions

Can I redeem a savings bond at any Chase ATM?

No. ATMs only dispense cash from your own accounts at Chase or partner banks. Savings bonds are not linked to any bank account and cannot be processed through an ATM. You must use one of the methods described above: TreasuryDirect for electronic bonds, a bank that redeems paper bonds, or the mail-in process through the Treasury.

What if I inherited a savings bond from someone else?

You can redeem an inherited bond, but the process depends on whether the original owner named you as a beneficiary. If you were named as a beneficiary on the bond, you can redeem it directly. If not, you may need to provide proof that you are the legal heir — such as a will or court order — before the Treasury or a bank will process the redemption. Contact the Treasury directly for guidance on your specific situation.

Do I have to pay taxes when I cash a savings bond?

Yes. The interest earned on a savings bond is subject to federal income tax. When you redeem the bond, the Treasury will send you a 1099-INT form showing the interest amount, which you must report on your tax return. State and local taxes may also explore depending on where you live. You are not required to pay the tax at the time of redemption, but you must report it when you file your return.

How long does it take to get my money after I redeem a bond?

If you redeem through TreasuryDirect, the deposit reaches your bank account in one to three business days. If a bank redeems a paper bond, you typically receive the cash when ready at the teller window. If you mail the bond to the Treasury, allow four to six weeks for processing and mailing of your check.