Chase does not cash EE bonds at the teller window, but you have other straightforward options

Chase Bank will not redeem Series EE savings bonds for you. The bank does not participate in the Treasury's bond redemption network, so you cannot walk into a Chase branch and cash an EE bond there. This applies to all Chase locations nationwide.

You can redeem EE bonds through the U.S. Treasury directly via TreasuryDirect, through most credit unions, or through thousands of banks that do participate in the Federal Reserve's bond redemption program. The process is simple and takes a few days to a week once you submit your bonds.

Key Takeaways

  • Chase Bank does not redeem EE bonds, so you will need to use TreasuryDirect, a credit union, or a participating bank instead.
  • TreasuryDirect is the fastest route if your bonds are registered there already, and redemption happens online within one business day.
  • Most credit unions redeem EE bonds in person and can process them the same day or within a few business days.
  • If you have paper bonds, you will need to mail them to a participating bank or the Federal Reserve, which takes one to two weeks.
  • You can find which banks near you redeem bonds by searching the Federal Reserve's list or calling ahead to confirm.

Redeeming EE bonds through TreasuryDirect

If your EE bonds are registered in TreasuryDirect (the Treasury's online account system), you can redeem them without leaving home. Log into your TreasuryDirect account, select the bonds you want to cash, and request redemption. The money deposits into your linked bank account within one business day.

This is the fastest option if you already have an account. You will need your TreasuryDirect username and password. If you do not have an account but own bonds issued after 2005, they are likely already registered there, and you can recover your login through the TreasuryDirect website.

Using a credit union instead of Chase

Most credit unions redeem EE bonds in person at the branch. You bring your bond certificate (if you have a paper bond) or your bond information, and the credit union submits it to the Federal Reserve on your behalf. Processing usually takes a few business days, though some credit unions can complete it the same day.

You do not need to be a member of the credit union to redeem a bond there. Call ahead to confirm they redeem bonds and ask what documents you will need to bring. Bring a government-issued ID and your Social Security number.

Finding a participating bank near you

The Federal Reserve maintains a list of banks that redeem savings bonds. You can search by state and city on the Federal Reserve's website to find branches near you. Not every bank participates, so calling ahead saves a trip.

When you call, ask specifically whether they redeem Series EE bonds and whether they need you to bring the physical certificate or if they can process it from your information. Some banks require an appointment or have specific hours for bond redemption.

What to bring if you have a paper bond

If you hold a physical EE bond certificate, bring the certificate itself, a government-issued photo ID, and your Social Security number. The bank or credit union will verify the information, submit the bond to the Federal Reserve, and you will receive payment once the Federal Reserve processes it.

If the bond is registered in someone else's name, that person must be present to redeem it, or you will need a power of attorney document. If the bond owner is deceased, the process is more complex and requires a death certificate and proof of your right to the funds.

Mailing bonds to the Federal Reserve if no local option works

If you cannot find a participating bank or credit union nearby, you can mail your paper EE bonds directly to the Federal Reserve. Include a letter stating you want to redeem the bonds, your name, address, and Social Security number. Mail them to the Federal Reserve Bank serving your region (addresses are on the Federal Reserve's website).

Processing takes one to two weeks after the Federal Reserve receives your package. The Federal Reserve will mail you a check. Send bonds via certified mail so you have proof of delivery, and keep a copy of your letter and a list of the bond serial numbers.

Why Chase does not redeem bonds

Chase, like many large national banks, has chosen not to participate in the Federal Reserve's bond redemption program. This is a business decision by the bank, not a legal restriction. Some large banks participate and some do not, so the option depends on which bank you use.

The Federal Reserve runs the bond redemption network, and participation is voluntary. Banks that do participate handle the paperwork and submit bonds to the Federal Reserve on your behalf. Chase has decided the volume does not justify the administrative cost.

Frequently Asked Questions

Can I cash an EE bond at any Chase ATM?

No. ATMs only dispense cash from your bank account; they cannot process bond redemptions. You will need to use TreasuryDirect, a credit union, or a participating bank.

What if my EE bond is old and I do not know if it is in TreasuryDirect?

Bonds issued before 2005 are likely paper certificates only. Bonds issued in 2005 or later are registered in TreasuryDirect by default. Go to TreasuryDirect.gov and try to recover your account using your Social Security number. If nothing appears, your bonds are paper only and you will need to redeem them in person or by mail.

How long does it take to get my money after I redeem at a credit union?

Most credit unions deposit the funds into your account within three to five business days. Some can do it the same day. Ask the credit union for their specific timeline when you bring in the bond.

Do I have to pay taxes when I cash an EE bond?

Yes. EE bonds earn interest, and that interest is subject to federal income tax. You may also owe state income tax depending on where you live. The bank or credit union will not withhold taxes; you report the interest on your tax return for the year you redeem the bond.

Can someone else cash my EE bond if I give them permission?

No. Only the person whose name is on the bond can redeem it, unless you have signed a power of attorney document. The bank or credit union will ask for ID and will not process a bond without the registered owner present or a legal document authorizing someone else to act.