Do banks have to cash savings bonds for non-customers?

Do banks have to cash savings bonds for non-customers?

Since we no longer order savings bonds for customers, do we have to cash them for non-customers? Answer: No institutions order savings bonds for customers any longer sine the Treasury went to electronic issuance. Your obligation to redeem bonds valued up to $1,000 for non-customers remains unchanged.

What banks cash savings bonds for non-customers?

Regional Banks Of the banks we reached, just Chase and TD Bank will cash a savings bond for non-account holders; non-account holders can money investment funds securities up to $1,000.

Can you cash bonds at a bank you don’t have an account with?

Not a Bank Customer To cash a bond at a bank where you do not have an account you will be required to show verifiable picture identification such as a driver’s license or state-issued ID card. If your savings bond has a redemption value of more than $1,000, the bank will not redeem it.

Can a bank teller cash savings bonds?

Most Series EE/E and I bonds can be cashed at your local banking institution. Before cashing them, you need to make sure you have held them for over 12 months. If you cash them before five years from the issue date, you will lose three months worth of interest. Sign the bond in front of the teller when cashing it.

How much can a bank cash a savings bond for non- customers?

The maximum dollar amount of savings bonds a bank can cash for a non-customer is $1,000. If your savings bond has a redemption value of more than $1,000, the bank will not redeem it.

Can a bank cash a bond worth more than $1k?

A bank will only cash bonds of which you are a registered owner. You may be either the sole listed owner or a co-owner. A bank will cash a savings bond worth more than $1,000 if you can be identified by someone who has an established account at the bank.

Can YOU Cash a bond if you don’t have an account?

Not a Bank Customer. To cash a bond at a bank where you do not have an account you will be required to show verifiable picture identification such as a driver’s license or state-issued ID card. The bank officer will note on the bond the type of identification, including the number and issue date.

Will the bank redeem my savings bond?

If your savings bond has a redemption value of more than $1,000, the bank will not redeem it. You can cash several smaller bonds as long as the total is less than $1,000.