The U.S. Treasury discontinued issuance of paper bonds effective 12/31/2011. Clients should be referred to http://www.treasurydirect.gov/ for ordering Series EE and Series I Savings Bonds. 

Capital City Bank (CCB) no longer sells U.S. Savings Bonds to clients or non-clients. 

Reminder: Clients account must be in good standing for at least 6 months before redeeming (cashing or accepting a bond(s)) for deposit.

For examples and images of Savings Bonds, click here.

Bond Redemption, Speed Key K

Capital City Bank (CCB) is a paying agent for U.S. Savings Bonds and is authorized to redeem eligible Series E, Series EE, Series I Savings Bonds and Savings Note (Series S) for clients ONLY in a retail office. Beginning with issue dates February 2003 and later, Series EE and I Bonds cannot be redeemed until they are 12 months old.

When the teller operating system is offline, DO NOT redeem savings bonds.

Non-Client

• Capital City Bank does not offer bond redemption service for non-clients.
• Refer the non-client to TreasuryDirect.gov for assistance

Client

• No stated limit. 
• Account must be in good standing for at least 6 months, with average balances adequate to cover the risk, before cashing or accepting a bond(s) for deposit.

When a bond is eligible for payment, instruct the presenter to complete the following information in the Request for Payment section of each bond:

• Signature
  • If the bond is presented with a signature, ask the bond owner to sign again immediately above or below the first signature.
• Address
  • If multiple bonds are presented, a current address must be in the Request for Payment section on at least 1 of the bonds submitted.
• Social Security Number
  • If the complete (9 digit) SSN is shown on the front of the bonds, and is accurate for the person redeeming the bonds, circle it, otherwise record the presenter's SSN in the Request for Payment section. Do not redeem any bond(s) for which the complete (9 digit) SSN of the presenter is not shown in the inscription, or not recorded in the Request for Payment section or the presenter refuses to furnish their SSN.

The bond owner (CCB client) must be properly identified on the back of the bond. Record required identification information on the bond.

Minor

If the owner or co-owner of a savings bond is a minor, and the form of registration does not indicate that there is a court-appointed representative of the minor's estate, and if such minor owner is not of sufficient competency to sign the bond and to understand the nature of the transaction, you can pay either parent with whom the minor resides. The following endorsement stamp must be imprinted on the back of the bond:

I certify that I am the father/mother of ________________ and the person with whom he/she resides. He/She is ________ years of age and is not of sufficient competency and understanding to make this request.

The minor's SSN must be furnished for federal income tax reporting purposes. Refer to the Savings Bonds Resource Guide for information pertaining to this type of transaction.

 

Power of Attorney

Bond redemption requests where a Power of Attorney is being acted upon MUST be referred to TreasuryDirect.gov for assistance.

Reminder: Clients account must be in good standing for at least 6 months before cashing or accepting a bond(s) for deposit.

Note: To process a Savings Bond that does not have a routing number or account number, scan the bonds and manually enter the Routing # 000090007 and Account # (serial # without letters).

When presented with a savings bond for processing, do the following:

 

1. Identify the client.
2. In Xperience > Teller Processing > Speed Key K
3. Press F10 to search for the client.
4. Once client name displays, click Select Person.
5. Use the drop down menus to choose the Series, Face Amount, Month and Year of the bond presented.
6. The Purchase Amount, Interest and Total to be paid displays.
7. Enter additional bonds as required.
8. When all bond details are entered, click Redeem Bonds.
9. Locate the issue and validating dates on the bond. 
10. Using the CCB bond payment stamp, do the following:
    • Stamp the bond near the issue and validating dates without over imprinting the dates. 
    • Legibly record the correct redemption value of the bond.
    • Sign or initial the stamp on the bond. 
11. Record the amount of interest paid in the top margin of the bond.
12. In Xperience, record Identification (ID) in the Instrument Field per ID client/non-client procedures.
13. Enter the Bond Redemption details depending on how the client wants the funds distributed (for example: Deposit to DDA/Savings, Cashiers Check, Money Order, or Cash Out)
14. Click Complete. A bond redemption receipt prints.
    • Give the receipt to the client. 
    • Note: If $10.00 or more in interest is paid to a presenter in a year, Capital City Bank (CCB) must furnish the payee with an IRS form 1099-INT and report the payment to the IRS. The tax information for end of year reporting is automatically updated through the operating system.
15. Savings Bond transactions, with the exception of Full Page Bonds (1940's era War Bonds) and Facsimile Bonds are processed through Teller Capture. 
16. Contact Item Processing for instructions on processing Full Page Bonds (1940's era War Bonds) and Facsimile Bonds.

Note: If $10.00 or more in interest is paid to a presenter in a year, CCB must furnish the payee with an IRS form 1099-INT and report the payment to the IRS. The reporting information is updated into the system.

When a client presents a U.S. Savings Bond for redemption in a retail office that DOES NOT have a teller line, the client must first see an office associate before presenting the bonds to the ITM for redemption. When presented with U.S. Savings Bond(s) do the following:

1. Ensure the bond holder is entitled to cash the bond(s), is a Capital City Bank client, and verify the client has completed the back of the savings bonds. 
2. Complete 2 copies of the manual Bond Interest Reporting Form by visiting treasurydirect.gov/BS/SBCPrice and entering the individual information to calculate current values.
   1. If you have Teller Menu you can access this information in Teller Menu > User Configured Menu > Bond Quote 
3. Give 1 copy to the client and retain the second copy.  
4. Obtain the clients signature on the second copy and retain.
5. Use your bond Stamp to stamp each bond and write the individual current value on all bonds.
6. Direct the client to take the bonds to the ITM where the ITM associate will cash the bonds for the stated current value using the Bond Redemption option in Vertex.
   1. Contact an Item Processing Specialist/Clerk in the Deposit Services Department for instructions on processing Full Page Bonds (2940's era War Bonds) and Facsimile Bonds.