Chase Bank will cash Series EE and Series I savings bonds, but only if you are the registered owner or a co-owner on the bond
Yes, Chase Bank branches can cash savings bonds for you. You'll need to bring the physical bond certificate, a valid government-issued ID, and proof that you own it. Chase handles this as a standard check-cashing transaction at the teller window — there's no special form or advance notice required, though calling ahead to confirm your branch has the cash on hand is a good idea if the bond is worth more than a few thousand dollars.
The key limitation is ownership. Chase will only cash a bond if your name appears on it as the owner or co-owner. If someone else registered the bond in their name only, they must be the one to cash it, or they must have signed the back of the bond and given you written authorization. A parent who bought a bond for a child in the child's name, for example, cannot cash it without the child's signature.
Key Takeaways
- Chase Bank tellers can cash Series EE and Series I savings bonds at any branch during business hours if you bring the bond certificate and a valid ID.
- Your name must appear on the bond as the owner or co-owner; Chase will not cash a bond registered to someone else without that person's signature on the back.
- You do not need to have a Chase account to cash a bond there, though the teller may ask for your Social Security number for tax reporting.
- Bonds cashed before their final maturity date may have a penalty, and the interest earned is subject to federal income tax in the year you cash it.
What you need to bring to the branch
Bring the actual bond certificate itself — not a photocopy or a digital image. The teller needs to see the original document to verify the series, issue date, and your name. Bring a valid government-issued photo ID: a driver's license, passport, or state ID card. Chase may also ask for your Social Security number so they can report the transaction to the IRS.
If the bond is registered to two people (a co-owner situation), only one of you needs to be present, but that person must be named on the bond. If you are cashing a bond on behalf of someone else — for instance, as an executor of an estate — bring the bond, your ID, and documentation of your authority, such as a death certificate and a copy of the will or court order naming you executor.
How the cashing process works at the teller window
Walk into any Chase branch during business hours and tell the teller you want to cash a savings bond. The teller will examine the bond to confirm the series (EE or I), the issue date, and your name. They will then look up the current redemption value using Treasury Department tables — this is not something they calculate on the spot, so the process takes a few minutes.
Once they confirm the value, they will ask you to sign the back of the bond if you haven't already. The teller will then process the transaction as a check cash and give you the money in cash or, if you prefer and have a Chase account, deposit it directly. There is no fee for this service at Chase.
Penalties and taxes when you cash early
Series EE bonds have a final maturity date of 30 years from issue. If you cash one before it reaches five years old, you lose the last three months of interest — this is called the early redemption penalty. After five years, there is no penalty. Series I bonds work the same way: cash before five years and you forfeit three months of interest.
The interest you earn on a savings bond is subject to federal income tax. When you cash the bond, the teller does not withhold tax — that is your responsibility when you file your tax return. The Treasury will send you a Form 1099-INT in January showing the interest earned if the amount is $10 or more. Keep your bond receipt so you can match it to the form.
If your bond is lost, stolen, or damaged
A lost or stolen bond cannot be replaced by Chase. You must contact the Treasury Department directly through TreasuryDirect.gov or by calling 844-284-2676. They will investigate your claim and may issue a replacement bond if they confirm the loss. This process takes several weeks.
If your bond is damaged but readable — water-stained, torn at the edge, faded — Chase may still cash it. Show it to the teller; they can usually process it if your name and the bond details are legible. If the damage is severe, the teller may ask you to contact the Treasury Department instead.
Cashing bonds at other banks and financial institutions
Most large banks, including Bank of America, Wells Fargo, and Citibank, will cash savings bonds at the teller window using the same process as Chase. Credit unions often do this as well. Some smaller community banks may decline to cash bonds because they lack access to current Treasury redemption tables, so calling ahead is wise if you bank somewhere other than a major institution.
You can also cash a savings bond by mail through the Treasury Department, though this takes longer — typically two to three weeks. You mail the bond to the Bureau of the Fiscal Service with a form and your ID copy. This route is useful if you do not have a bank nearby or prefer not to visit a branch.
What happens if the bond is registered to a minor
If a parent or grandparent bought a Series EE or Series I bond and registered it in a child's name, the child must be present to cash it once they reach the age of majority (18 in most states). Before that age, the parent or guardian can cash it only if the bond was registered as "Parent/Guardian, as custodian for [Child's Name]" — a specific registration type chosen at purchase.
If the bond was registered only in the child's name, the parent cannot cash it without the child's signature on the back. Once the child turns 18, they can cash it on their own with just their ID and the bond certificate.
Frequently Asked Questions
Do I need a Chase account to cash a savings bond there?
No. Chase will cash a savings bond for anyone who brings the bond, a valid ID, and proof of ownership. You do not need to have a checking or savings account with them. The teller may ask for your Social Security number for tax reporting purposes, but that is standard practice.
What if I lost the bond certificate but remember the series and issue date?
You cannot cash a bond without the physical certificate. Contact the Treasury Department at TreasuryDirect.gov or 844-284-2676 to report it lost. They can issue a replacement, though the process takes several weeks and requires you to provide details like the series, denomination, and issue date.
Can I cash a bond if someone else's name is on it too?
If the bond lists two owners, either owner can cash it alone. If it lists one owner and one beneficiary, only the owner can cash it during their lifetime. The beneficiary can cash it only after the owner dies, and they must bring a death certificate.
Will Chase withhold taxes when I cash the bond?
No. Chase gives you the full redemption value in cash or deposit. You owe federal income tax on the interest, but you pay it when you file your tax return. The Treasury sends you a Form 1099-INT in January showing the interest earned.
What if the teller says they cannot cash my bond?
This usually means the bond is damaged beyond readability or the teller cannot access the current redemption tables. Ask to speak with a manager, or try a different branch. If that does not work, contact the Treasury Department directly — they can cash any valid bond by mail.