Updated August 31, 2023

US Bank Review

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Weighing up on banking with U.S. Bank? This comprehensive review covers its pros, cons and how it stacks up against other banks.

5-point scale (the higher, the better)

Pros and Cons

  • Promo CD with high APY
  • Free student account
  • 24/7 customer service
  • Low savings APY

Bottom Line

Big national bank with wide array of services and many account options

U.S. Bank has more than 2,200 branches throughout the United States and 37,000 ATMs for U.S. Bank clients. They have a wide selection of checking, savings, CDs, and retirement accounts available. They even offer accounts that cater to students and seniors.

Is U.S. Bank the right choice for you or would you be better off with another bank that has different options? Keep reading to find out what U.S. Bank could offer you.

Checking Accounts

U.S. Bank checking accounts come with a U.S. Bank Visa Debit Card, access to online/mobile banking, online bill pay, and free use of U.S. Bank ATMs.

  • U.S. Bank Smartly® Checking:
    This is U.S. Bank's main checking account. It comes with helpful money management tools. You get personalized insights based on your saving and spending habits. You can set budgets for different categories and keep track of your spending.

    It also offers a variety of overdraft protection options. You get no-fee overdraft protection transfers, and they don't charge anything if you overdraw your account by $50 or less.

  • Student Checking:
    Students age 13-24 can get the U.S. Bank Smartly® checking account with no monthly maintenance fee. Students get four "no fee" non-U.S. Bank ATM transactions per cycle.[1]

    U.S. Bank also has a Campus Banking program with 35+ participating universities. Some extra benefits could include: on-campus branches and a campus card that combines student ID and debit card.

  • Safe Debit:
    This is a "checkless" checking account. It's similar to a prepaid checking card, but you get access to online/mobile banking.

    There is a low monthly maintenance fee that you cannot waive. But you do get access to discounted money orders (if you need to pay someone by check) and free access to your credit score.[2]

Compare Checking Account Promotion

Savings Accounts

U.S. Bank savings accounts come with access to online/mobile banking, recurring bank transfers, overdraft protection options, and free access to U.S. Bank ATMs.

  • Standard Savings Account:
    This is the basic savings account. You can waive the monthly fee with only $300 minimum daily balance. OR you can have it as a joint savings account with a teen 17 or under, and it'll be free.[3]

    However, the savings rate is low, like most traditional banks. You'll need at least $25 to open this account.

  • Elite Money Market:
    Open this account with $100 and earn higher interest rates the higher your balances become. You'll need a $10,000 minimum balance to waive the monthly fee.

    You'll have check writing privileges with this money market account as well as access to online/mobile banking. You can also use any U.S. Bank ATM free of charge.[4]

  • Retirement Money Market Account:
    This is an individual retirement account plan account with tax benefits. There's no monthly maintenance fee, and you can open the account with $100 or $25 automatic monthly deposits.[5]

Compare Savings Accounts


  • CD Special: With just $1,000, you can open a "special CD" that has promotional interest rates. These interest rates are usually higher than what you'd find with a standard CD. They offer a variety of maturity dates that range from 17 months to 59 months. The longer you can tie up your money, the higher the interest rate you'll earn.[6]

  • CD: If you have $500 to invest, you can open a standard CD with maturity dates ranging from one month to 60 months.[7]

  • Step Up CD: If you can tie up your money for at least 28 months, take advantage of the increasing rates of this CD. Every seven months, the rate increases. This would give you an opportunity for four interest rate increases in 28 months. You'll need $1,000 to open this CD.[8]

  • Trade Up CD: With $1,000 and 30 or 60 months available, you have the opportunity to lock in a higher interest rate one time during your CD's term.[9]

U.S. Bank's Routing Number: You'll need your U.S. Bank routing number to set up direct deposit or automatic bill pay. You can find the number on the bottom of your check. The first set of numbers is the routing number. The second set is the account number. Each state has its own routing number, so make sure you have the right routing number to ensure your money goes where it belongs.

Reasons We Like U.S. Bank

  • You can customize your alerts. You can receive text or email alerts about low balances, negative balances, withdrawals that exceed your threshold, overdrafts, and new statement alerts. You can also set up alerts for any type of debit/credit card transactions that you want to know about, including declined transactions or high transaction amounts.

  • You can use online banking to pay bills, check transactions, transfer money, access free online statements, and check transactions. You can access online banking 24/7.

  • You can set up online bill pay alerts. Whether you want to be alerted of an upcoming due date, sent payment, reminder about an automatic payment about to be sent, or when an eBill is received, you can do so. This way you can automate the bill pay process, but still always know what is going on in your account.

  • You can use the U.S. Bank mobile app to conduct many banking transactions. The mobile app mirrors the online bank portal, making it easy to check balances, pay bills, transfer funds, and activate your bank cards. You can also enable the Instant Balance Feature that allows you to see your balance without logging into your account.

  • You can deposit your checks from your mobile app. You don't have to visit the bank; you just take a picture of the front and back of your check and follow the prompts in the app to deposit your check.[10]

  • You can send money to friends and family with Zelle®. All you need is an email address or mobile phone number to send the payment. It's free to use and you can access it right in your U.S. Bank mobile app.[11]

  • You can activate location services in the mobile app to enhance the security of your bank card. With location services on, U.S. Bank can tell when you and your bank card are together. If someone tries to use your card that isn't at the location that your phone is located, it will alert U.S. Bank of potential fraud.[12]

  • U.S. Bank is FDIC insured. Your accounts are protected up to $250,000 each. In the event that U.S. Bank goes out of business, your money will be safe.[13]

Reasons You May Want to Look Elsewhere

  • U.S. Bank is located in 26 states. If you don't live in one of the states where the bank is located, you can't take advantage of their banking programs.

  • U.S. Bank has high minimum balance requirements to waive the monthly service fees. Basic account holders usually want minimum balance requirements that are less than $500, but even the Basic checking account requires a minimum balance of $1,500 to waive the monthly service charge.

How It Compares

  • Chase: Chase is another big name in the banking industry, with thousands of branches and ATMs throughout the country. Consumers usually go to Chase for the Chase checking account bonus for new accounts. Chase offers online bill pay and mobile banking just like U.S. Bank, but they tend to have lower minimum requirements to waive the monthly service fees.

  • BMO: BMO offers fee-free transactions at more than 40,000 Allpoint® network ATMs nationwide. Their account selections are much less than what U.S. Bank offers, and they only have one interest-bearing checking account that requires a $25,000 balance to waive the high monthly service charge.

  • Wells Fargo: Wells Fargo has 13,000 ATMs and 5,800 branches in the U.S. Wells Fargo offers a similar number of checking/savings account offerings. What they are known for, though, is their "second chance checking account" offerings. This helps those who faced financial destruction get back on their feet with a standard checking account.

Bottom Line

US Bank offers a solid checking account with good banking features and personalized money management tools. It also offers some savings accounts with higher-than-average APYs.

It has lower fees than some other banks. Just be sure to meet the minimum requirements in order to waive the monthly service fee.

All in all, if you're searching for a trustworthy bank with excellent account options, US Bank is definitely worth exploring.


  1. ^ U.S. Bank. Student Checking Account, Retrieved 4/11/2023
  2. ^ U.S. Bank. Safe-Debit Checking Account, Retrieved 1/25/2022
  3. ^ U.S. Bank. Standard Savings Account, Retrieved 4/11/2023
  4. ^ U.S. Bank. Elite Money Market Savings Account, Retrieved 4/11/2023
  5. ^ U.S. Bank. Retirement Money Market Account, Retrieved 1/25/2022
  6. ^ U.S. Bank. CD Special, Retrieved 1/25/2022
  7. ^ U.S. Bank. Certificate of Deposit, Retrieved 1/25/2022
  8. ^ U.S. Bank. Step Up CD, Retrieved 1/25/2022
  9. ^ U.S. Bank. Trade Up CD, Retrieved 1/25/2022
  10. ^ U.S. Bank. Mobile Check Deposit, Retrieved 1/25/2022
  11. ^ U.S. Bank. Zelle Payments, Retrieved 1/25/2022
  12. ^ U.S. Bank. "How do I enable location services on my mobile device?", Retrieved 1/25/2022
  13. ^ U.S. Bank. "FDIC deposit insurance coverage", Retrieved 1/25/2022
Member FDIC

Chase Total Checking® - $300 Bonus

Expires 7/24/2024
  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • Access to more than 15,000 Chase ATMs and more than 4,700 branches
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ - no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*
Bank of America
Member FDIC

Bank of America Advantage Banking - $200 Bonus Offer

Expires 9/30/2024
  • The $200 bonus offer is an online only offer and must be opened through the Bank of America promotional page.
  • The offer is for new checking customers only.
  • Offer expires 9/30/2024.
  • To qualify, open a new eligible Bank of America Advantage Banking account through the promotional page and set up and receive qualifying direct deposits totaling $2,000 or more into that new eligible account within 90 days of account opening. Bank of America Advantage SafeBalance Banking® for Family Banking accounts are not eligible for this offer.
  • Once all requirements are met, Bank of America will attempt to pay bonus within 60 days.
  • Additional terms and conditions apply. See offer page for more details.
  • Bank of America, N.A. Member FDIC.
BMO Bank
Member FDIC

BMO Smart Advantage Checking - $350 Cash Bonus

Expires 9/9/2024

Get a $350 cash bonus when you open a new Smart Money Checking or Smart Advantage Checking account and have a cumulative total of $4,000 in qualifying direct deposits within 90 days of opening. Offer is limited to one per customer and is not available for existing BMO personal checking customers (including signers on joint accounts) or those who have closed a BMO personal checking account within the past 12 months. Conditions apply.

Discover Bank
Member FDIC

Online Savings Account - Earn 4.25% APY

  • No fees
  • No minimum opening deposit
  • No minimum balance required
CIT Bank
Member FDIC

CIT Bank Platinum Savings - 5.00% APY

  • 5.00% APY with a balance of $5,000 or more
  • 0.25% APY with a balance of less than $5,000
  • $100 minimum opening deposit
  • No monthly maintenance fee
  • Member FDIC

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CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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