Chase does not cash Series EE savings bonds
Chase Bank will not cash EE bonds for you, even if you have an account there. Series EE bonds are U.S. Treasury securities, not bank products, and only certain institutions are authorized to handle them. Chase is not one of them.
To cash an EE bond, you must go to a bank or credit union that is a Treasury Retail Securities Site. Not all banks participate in this program. Your options are limited, and the process depends on whether your bond is in paper form or digital form.
Key Takeaways
- Chase Bank does not redeem EE bonds, even for customers with accounts there.
- You must take paper EE bonds to a bank or credit union that is an authorized Treasury Retail Securities Site.
- Digital EE bonds purchased through TreasuryDirect can only be redeemed through your TreasuryDirect account online.
- Not all banks participate in the Treasury program, so you may need to call ahead or visit a different institution.
- The Federal Reserve's website lists which banks in your area are authorized to cash EE bonds.
Where to cash a paper EE bond
If you have a physical EE bond certificate, you need to find a bank or credit union that participates in the Treasury Retail Securities Site program. Call ahead before you go—many banks have stopped offering this service in recent years, and availability varies by location.
Start by checking the Federal Reserve's official list of participating institutions at frbservices.org. Search by your state and ZIP code to see which banks near you can redeem bonds. If you find one, bring your bond certificate, a valid photo ID, and your Social Security number. The teller will verify the bond's authenticity and pay you the current redemption value.
If no banks in your area participate, your credit union may still offer the service. Call your local credit union first—they are more likely than large national banks to handle bond redemptions. If that fails, you can mail your bond to the Federal Reserve Bank in your district, though this takes longer and requires you to fill out a form.
How to redeem a digital EE bond through TreasuryDirect
If you bought your EE bond through TreasuryDirect (the U.S. Treasury's online platform), you cannot take it to a bank at all. Digital bonds exist only in your TreasuryDirect account and can only be redeemed there.
Log into your TreasuryDirect account at treasurydirect.gov, navigate to your holdings, and select the bond you want to redeem. The system will show you the current redemption value and ask you to confirm. Once you submit the redemption request, the money goes directly to the bank account you have linked to your TreasuryDirect account—usually within one to two business days.
You do not need to visit any bank in person. The entire process happens online, and you cannot redirect the payment to a different account or receive a check instead.
What happens if your EE bond is not yet mature
EE bonds can be cashed before they reach their full maturity date, but there is a penalty. If you redeem an EE bond less than five years after purchase, you lose the last three months of interest. After five years, there is no penalty.
For example, if you bought a bond two years ago and redeem it now, you will receive the principal plus interest earned, minus three months' worth of interest. This penalty applies whether you cash it at a bank or through TreasuryDirect. The redemption value shown in your account or by the bank teller already accounts for this deduction, so you do not have to calculate it yourself.
Why Chase and other large banks stopped cashing bonds
Major national banks like Chase, Bank of America, and Wells Fargo have largely withdrawn from the Treasury Retail Securities Site program. The reason is simple: the volume of bond redemptions is too low to justify the cost of training staff and maintaining compliance with Treasury rules.
Smaller regional banks and credit unions are more likely to still participate because they serve communities where bond redemptions are more common or because they view it as a service to long-term customers. If you have an account at a smaller bank or credit union, that is your best first call.
Mailing your bond to the Federal Reserve if no local bank will redeem it
If you cannot find a participating bank or credit union near you, you can mail your paper EE bond directly to the Federal Reserve Bank that serves your region. The Federal Reserve's website lists the address for your district.
You will need to fill out Form PD F 1522 (Request for Redemption of United States Savings Bonds) and include it with your bond certificate. Mail both to the Federal Reserve Bank address. Include a cover letter with your name, address, phone number, and Social Security number. Do not send the original bond through regular mail—use certified mail with return receipt so you have proof of delivery.
Processing takes two to four weeks after the Federal Reserve receives your package. They will mail you a check to the address on your form. This method is slower than visiting a bank in person, but it works if you have no other option.
What to bring when you go to redeem a paper bond in person
Bring three things: your EE bond certificate, a valid photo ID (driver's license, passport, or state ID), and your Social Security number. The bank teller will need to verify your identity before they can process the redemption.
If someone else is redeeming the bond on your behalf—for example, if you are the beneficiary of a deceased person's bond—bring the bond, your ID, and proof of your authority to redeem it. This might be a death certificate, a will, or a court order. Call the bank ahead of time to ask what specific documents they need, because requirements vary.
Frequently Asked Questions
Can I cash an EE bond at any Chase branch?
No. Chase does not participate in the Treasury Retail Securities Site program and will not redeem EE bonds at any of their branches. You must go to a different bank or credit union, or redeem the bond through TreasuryDirect if it is digital.
What if I bought my EE bond at Chase years ago?
Chase may have sold you the bond when they participated in the program, but they no longer redeem them. The bond itself is a Treasury security, not a Chase product. You will need to take it to another bank or mail it to the Federal Reserve.
How long does it take to get my money after I redeem an EE bond?
If you redeem in person at a bank, you receive cash or a check immediately. If you redeem through TreasuryDirect, the money reaches your linked bank account within one to two business days. If you mail the bond to the Federal Reserve, allow two to four weeks.
Can I redeem part of an EE bond and keep the rest?
No. EE bonds are redeemed as a whole unit. You cannot split a single bond and cash only a portion of it. If you own multiple bonds, you can redeem some and keep others.
What if I lost my EE bond certificate?
Contact the Federal Reserve Bank in your district and explain that your bond is lost or destroyed. They can issue a replacement certificate if you can provide proof of ownership (your Social Security number and the bond's serial number if you have it). This process takes several weeks.