U.S. 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.
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Overall Score | 3.7 | ||
Savings | 3.0 | ||
CD | 4.0 | ||
Checking | 3.0 | ||
Money Market | 3.0 | ||
Mobile App | 4.5 | ||
Customer Service | 4.5 | ||
Pros and Cons
- Promo CD with high APY
- Free student account
- 24/7 customer service
- Low standard savings APY
Bottom Line
Big national bank with wide array of services and many account options
U.S. Bank has 2,900+ branches and over 4,700 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]
U.S. Bank Business Essentials - $500 Bonus
Promo code Q2AFL25 MUST be used when opening a U.S. Bank Business Essentials, Silver, or Platinum Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
Earn your $500 Business Checking bonus by opening a new U.S. Bank Business Essentials or Silver Business Checking account between 4/3/2025 and 6/30/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening. You must also complete 5 qualifying transactions within 60 days of account opening.
Qualifying transactions include debit card purchases, ACH credits, Wire Transfer credits and debits, Zelle credits and debits, U.S. Bank Mobile Check Deposit or Bill Pay. Other transactions such as (but not limited to) other Person to Person payments, transfers to credit card or transfers between U.S. Bank accounts are not eligible.
New money is considered money that is new to U.S. Bank. Funds must come from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.
Bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.
Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.
All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. These documents can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice. Member FDIC
U.S. Bank Platinum Business Checking - $900 Bonus
Promo code Q2AFL25 MUST be used when opening a U.S. Bank Business Essentials, Silver, or Platinum Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
Earn your $900 Business Checking bonus by opening a new U.S. Bank Platinum Business Checking account between 4/3/2025 and 6/30/2025. You must make deposit(s) of at least $25,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $25,000 until the 60th day after account opening. You must also complete 5 qualifying transactions within 60 days of account opening.
Qualifying transactions include debit card purchases, ACH credits, Wire Transfer credits and debits, Zelle credits and debits, U.S. Bank Mobile Check Deposit or Bill Pay. Other transactions such as (but not limited to) other Person to Person payments, transfers to credit card or transfers between U.S. Bank accounts are not eligible.
New money is considered money that is new to U.S. Bank. Funds must come from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.
Bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.
Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.
All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. These documents can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice. Member FDIC
Compare Checking Account Promotion
Bank of America Advantage Banking - $300 Bonus Offer
- The $300 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 05/31/2025.
- 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.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
BMO Smart Advantage Checking Account - Earn $350 Cash Bonus*
$350 cash bonus* when you have a cumulative total of $4,000 in qualifying direct deposits within 90 days of account opening between 2/4/25 - 5/2/25. *Conditions Apply. Accounts are subject to approval and available in the U.S. by BMO Bank N.A. Member FDIC
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- Chase Mobile® app - Manage accounts, pay bills, send money to friends with Zelle® and deposit checks from almost anywhere.
- 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*
- Help keep your money protected with features like Zero Liability Protection, fraud monitoring and card lock.
- Chase Total Checking includes FDIC insurance up to the maximum amount allowed by law.
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
Savings Accounts
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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.
- Bank Smartly® Savings Account:
This is a relationship savings account with tiered interest rates, where you'll earn a higher APY on higher account balances. You can waive the monthly fee if you have a Bank Smartly® Checking or Safe Debit account, or if the account is for a minor under the age of 18.However, the standard interest rate is low if you don't have an eligible product to qualify for the relationship rate, 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.[3]
- 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.[4]
Compare Savings Accounts
High-Yield Savings Account - 4.35% APY
- $1 minimum deposit
- No fees
- 24/7 online access to funds
- FDIC insured
CIT Bank Platinum Savings - $300 Bonus
- Transfer a one-time deposit of $50,000+ for a Bonus of $300
- 4.10% APY with a balance of $5,000 or more
- 0.25% APY with a balance of less than $5,000
- No monthly maintenance fee
- Member FDIC
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. See advertiser website for full details.
CDs
- 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.[5]
- CD: If you have $500 to invest, you can open a standard CD with maturity dates ranging from one month to 60 months.[6]
- 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.[7]
- 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.[8]
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.[9]
- 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.[10]
- You can enjoy complimentary access to Greenlight. If you have a Bank Smartly® Checking account or any other eligible U.S. Bank checking account, you'll receive access to Greenlight's debit card and money app at no additional cost. Greenlight helps kids and teens develop healthy financial habits.
- 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.[11]
- 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.[12]
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
U.S. 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, U.S. Bank is definitely worth exploring.
References
- ^ U.S. Bank. Student Checking Account, Retrieved 4/11/2023
- ^ U.S. Bank. Safe-Debit Checking Account, Retrieved 1/25/2022
- ^ U.S. Bank. Elite Money Market Savings Account, Retrieved 4/11/2023
- ^ U.S. Bank. Retirement Money Market Account, Retrieved 1/25/2022
- ^ U.S. Bank. CD Special, Retrieved 1/25/2022
- ^ U.S. Bank. Certificate of Deposit, Retrieved 1/25/2022
- ^ U.S. Bank. Step Up CD, Retrieved 1/25/2022
- ^ U.S. Bank. Trade Up CD, Retrieved 1/25/2022
- ^ U.S. Bank. Mobile Check Deposit, Retrieved 1/25/2022
- ^ U.S. Bank. Zelle Payments, Retrieved 1/25/2022
- ^ U.S. Bank. "How do I enable location services on my mobile device?", Retrieved 1/25/2022
- ^ U.S. Bank. "FDIC deposit insurance coverage", Retrieved 1/25/2022
U.S. Bank Business Essentials - $500 Bonus
Promo code Q2AFL25 MUST be used when opening a U.S. Bank Business Essentials, Silver, or Platinum Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts.
Earn your $500 Business Checking bonus by opening a new U.S. Bank Business Essentials or Silver Business Checking account between 4/3/2025 and 6/30/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening. You must also complete 5 qualifying transactions within 60 days of account opening.
Qualifying transactions include debit card purchases, ACH credits, Wire Transfer credits and debits, Zelle credits and debits, U.S. Bank Mobile Check Deposit or Bill Pay. Other transactions such as (but not limited to) other Person to Person payments, transfers to credit card or transfers between U.S. Bank accounts are not eligible.
New money is considered money that is new to U.S. Bank. Funds must come from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.
Bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.
Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.
All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. These documents can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.
Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice. Member FDIC
Chase Total Checking® - $300 Bonus
- New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
- Chase Mobile® app - Manage accounts, pay bills, send money to friends with Zelle® and deposit checks from almost anywhere.
- 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*
- Help keep your money protected with features like Zero Liability Protection, fraud monitoring and card lock.
- Chase Total Checking includes FDIC insurance up to the maximum amount allowed by law.
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- Open your account online now
- Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
Bank of America Advantage Banking - $300 Bonus Offer
- The $300 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 05/31/2025.
- 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.
- *A Qualifying Direct Deposit is a direct deposit of regular monthly income – such as your salary, pension or Social Security benefits, which are made by your employer or other payer – using account and routing numbers that you provide to them.
- Bank of America, N.A. Member FDIC.
Wells Fargo Everyday Checking Account - $325 Bonus
- Get a $325 new checking customer bonus when you open an Everyday Checking account and receive $1,000 or more in qualifying direct deposits.
- Wells Fargo Bank, N.A.
Member FDIC
Discover® Online Savings - $200 Cash Bonus
To qualify for Bonus: Apply for your first Discover Online Savings Account, enter Offer Code CY325 at application, deposit into your Account a total of at least $15,000 to earn a $150 Bonus or deposit a total of at least $25,000 to earn a $200 Bonus. Qualifying deposit(s) may consist of multiple deposits and must post to Account within 45 days of account open date. Maximum bonus eligibility is $200.
What to know: Offer not valid for existing or prior Discover savings customers. Eligibility is based on primary account owner. Account must be open when bonus is credited. Bonus will be credited to the account within 60 days of qualifying for the bonus. Bonus is subject to tax reporting. Offer ends 09/11/2025, 11:59 PM ET. Offer may be modified or withdrawn without notice. Due to new customer funding limits, you may wish to initiate fund transfers at your other institution. For information on funding, see FAQs on Discover.com/Bank. See advertiser website for full details.
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