Chase will cash some savings bonds, but not all of them

Chase can cash Series I and Series EE savings bonds if you are the registered owner or a co-owner, but only at branches that handle savings bond transactions. Not every Chase branch does this work. You will need to bring the physical bond, a government-issued photo ID, and your Social Security number. The bank will verify the bond's authenticity and your ownership before processing the cash-out.

If your bond has not matured yet, Chase will still cash it—you will just receive less than face value because you are cashing before the full term ends. The penalty for early redemption is typically the loss of the last three months of interest. Series I bonds have a one-year holding requirement before you can cash them at all, and if you cash within five years, you lose the last three months of interest.

Savings bonds issued before 1974 or certain older series may not be cashable at a bank branch. For those, you will need to contact the Bureau of the Fiscal Service directly or mail the bond to them. Call your local Chase branch first to confirm they handle savings bond redemptions—many do not, and you may need to travel to a larger branch or a different location.

Key Takeaways

  • Chase branches can cash Series I and Series EE bonds if you own them and bring your physical bond and photo ID, but not all branches offer this service.
  • Cashing a bond before it matures means you lose the last three months of interest, and Series I bonds cannot be cashed within the first year of purchase.
  • Call your branch ahead of time to confirm they process savings bond redemptions, because many Chase locations do not handle this transaction.
  • Bonds issued before 1974 or certain older series must be redeemed through the Bureau of the Fiscal Service, not through a bank.

How to prepare your bond for cashing at Chase

Gather the physical bond itself—you cannot cash a bond online or by phone at Chase. Locate your Series I or Series EE bond certificate. If you have lost it, you cannot replace it through Chase; you will need to contact the Bureau of the Fiscal Service to file a claim and request a replacement, which takes weeks.

Bring a government-issued photo ID such as a driver's license or passport. Chase will not cash a bond without verifying your identity. If you are cashing a bond that is registered to someone else but you are listed as a co-owner, bring both your ID and documentation showing you are authorized to access the account—typically the bond certificate itself will show this.

Have your Social Security number ready. Chase uses this to verify your identity against the bond registration. If the Social Security number on the bond does not match your current records, bring documentation of the name change (marriage certificate, court order, or Social Security card showing the updated number).

What happens when Chase processes your bond

The teller will examine the bond for signs of damage, alteration, or fraud. They will verify the series, issue date, and face value. They will then look up the current redemption value using Treasury Department tables. This step usually takes a few minutes.

Chase will calculate the interest accrued to the date of redemption and subtract any early-redemption penalty if applicable. For Series EE bonds, the redemption value is the greater of face value or the accrued interest—so a $100 bond might be worth $150 if it has earned $50 in interest. For Series I bonds, you receive the full accrued value minus the three-month interest penalty if you are cashing within five years of purchase.

Once verified, the bank will issue you cash or deposit the funds into your Chase account if you prefer. The transaction is complete the same day. You will receive a receipt showing the bond series, face value, redemption value, and the date processed.

When Chase cannot cash your bond

If your bond is registered in a deceased person's name, Chase cannot cash it. You will need to contact the Bureau of the Fiscal Service with a death certificate and proof that you are the authorized heir or executor of the estate. This process takes several weeks.

If the bond shows signs of alteration, water damage, or tampering, Chase may refuse to cash it and refer you to the Bureau of the Fiscal Service for investigation. Bring the bond to the bank anyway—they can tell you whether it is salvageable or whether you need to file a replacement claim.

Savings bonds issued before 1974 are no longer redeemable at banks. These must go directly to the Bureau of the Fiscal Service by mail. Check the issue date on your bond before going to Chase; if it is older than 1974, call the Bureau at 844-284-2676 or visit treasurydirect.gov for instructions on mailing the bond for redemption.

Finding a Chase branch that redeems savings bonds

Call your local Chase branch and ask specifically whether they redeem savings bonds. Many branches, especially smaller ones, do not process this transaction and will direct you elsewhere. If your branch cannot help, ask which nearby Chase location does handle bond redemptions.

Larger Chase branches in urban areas are more likely to offer this service. If you cannot find a Chase branch that redeems bonds, you can take your bond to any bank that offers savings bond redemption—Bank of America, Wells Fargo, and many regional banks do this. You do not have to use Chase.

Alternatively, you can mail your bond directly to the Bureau of the Fiscal Service at the address listed on the Treasury Department website. This takes longer—typically two to four weeks—but it is an option if no bank near you redeems bonds.

What to know about Series I and Series EE bonds before cashing

Series EE bonds are sold at half their face value. A $100 bond costs $50 to buy. When you cash it, you receive the greater of the face value ($100) or the accrued interest, whichever is higher. These bonds earn interest monthly and are may provide to double in value within 20 years.

Series I bonds are sold at face value and earn interest that adjusts every six months based on inflation. The interest rate has two components: a fixed rate (set when you buy) and an inflation rate (which changes). You cannot cash a Series I bond within one year of purchase, and if you cash within five years, you lose the last three months of interest.

Both types stop earning interest 30 years after issue. If your bond is older than 30 years, it has reached its final value, and cashing it will not change the amount you receive. Check the issue date on your bond to see how much longer it will earn interest.

Frequently Asked Questions

Can I cash someone else's savings bond at Chase if they give me permission?

No. Chase will only cash a bond if you are the registered owner or a co-owner listed on the certificate. If the bond is in someone else's name only, they must be present with their ID, or you will need a power of attorney document that specifically authorizes you to redeem savings bonds. A general power of attorney may not be sufficient.

What if my savings bond is damaged or torn?

Bring it to Chase anyway. Minor damage usually does not prevent redemption. If the damage is severe—such as large tears, water damage, or illegible text—Chase may refuse it and direct you to the Bureau of the Fiscal Service, which can investigate whether the bond is salvageable or whether you need to file a replacement claim.

How long does it take to get the money after I cash my bond at Chase?

If you take cash, you receive it the same day. If you ask Chase to deposit the funds into your account, the money typically appears within one business day. There is no waiting period for savings bond redemptions at banks.

Do I have to pay taxes on the interest when I cash my savings bond?

Yes. The interest earned on savings bonds is subject to federal income tax. You will owe taxes on the interest portion of the redemption value, not the principal. Chase will not withhold taxes—you will report the interest on your tax return. Keep your redemption receipt for your records.

What if Chase tells me they cannot cash my bond?

Ask them why. If it is because the branch does not handle bond redemptions, find another bank or mail the bond to the Bureau of the Fiscal Service. If it is because the bond appears altered or damaged, ask whether they can refer you to the Bureau or whether you should contact them directly. If the bond is very old, confirm the issue date—bonds before 1974 must go to the Bureau by mail.