U.S. Bank Review – Checking, Savings, CDs & More

You’ll find all of your standard banking services at U.S. Bank. Across the West & Midwest, you’ll certainly have ease locating a branch or ATM, so you can enjoy the convenience of a big bank.

In 1863, U.S. Bank was established as the First National Bank of Cincinnati. Today, U.S. Bank is owned by bank holding company U.S. Bancorp. The headquarters for both the bank and its parent company are in Minneapolis, Minnesota.

As one of the largest banks in the United States, U.S. Bank draws upon over 150 years of banking experience to offer its personal, business, commercial, and government banking customers a full suite of financial products and services.

The bank offers its customers quick and secure access to funds through online and mobile banking options.

US Bank’s depository banking products – for both its individual and corporate customers – include savings accounts, money market accounts, checking accounts, and Certificates of Deposits (CDs).

If you’re interested in banking with U.S. Bank, continue reading to learn more on how U.S. Bank’s products & services can meet your financial needs.

U.S. Bank Checking Accounts

Smartly^TM Checking

Personal checking that empowers you to Bank Smartly^TM. Put U.S. Bank’s new checking product to work for you with:

• Multiple ways to get monthly maintenance fees waived
• No ATM transaction fees or surcharge fees at U.S. Bank and MoneyPass® Network ATMs
• Manage cash easily with automated budgeting in a #1 rated mobile app
• Fast payments with Zelle®
• No fee overdraft protection transfers from a linked deposit account, $50 overdrawn Available Balance safety threshold and Overdraft Fee Forgiven program
• Access to U.S. Bank Smart Rewards™ to reap additional benefits

Student Checking

Personal checking with features just for students. Students ages 18 and over may apply for a Student Checking account individually or jointly. Those ages 14 through 17 must apply jointly with an adult.

• Ways to waive overdraft fees. If your Available Balance at the end of the business day is overdrawn by $50 or less, you will not be charged an overdraft fee.
• If your Available Balance is overdrawn by $50.01 or more, you’re given extra time to potentially waive Overdraft Paid Fees on eligible accounts with Overdraft Fee Forgiven.
• ATM transactions. Pay no ATM transaction fees at U.S. Bank ATMs. Also, there are no ATM transaction fees on your first four non-U.S. Bank ATM transactions per statement period. Note: Non-U.S. Bank ATM transaction fees apply after four.
• No-fee overdraft protection. Pay no fees for transfers made from a linked U.S. Bank consumer savings account, U.S. Bank money market or a secondary checking account. Overdraft Protection Transfer Fees apply when transfers are made from a linked U.S. Bank credit account, including Reserve Line of Credit, credit card, personal line of credit, home equity line of credit and other lines of credit.
• Basic banking must-haves. Enjoy a U.S. Bank Visa Debit Card, mobile and online banking with mobile check deposit, bill pay and more.
• Personal check discounts. Get your initial box of U.S. Bank logo checks free. Or, express yourself with a 50% discount on your choice of designs, including many colleges and universities.
• Campus banking. If your college participates, you can set up your bank account, pay bills or link your student ID to your U.S. Bank Student Checking account and more.

Safe Debit Account

A bank account minus the checks with no overdraft fees. Enjoy the perks without the checks.

Applicants ages 18 years and over may apply for a Safe Debit account individually or jointly. Those ages 14 through 17 must apply jointly with an adult.

• Basic banking must-haves. Enjoy a U.S. Bank Visa Debit Card, mobile and online banking with mobile check deposit, bill pay and more.
• No overdraft fees. With a debit card, you’re less likely to overdraw on your account. But in case you do, there are no overdraft charges.
• Free credit score access. Take advantage of free access to the TransUnion® CreditView™ Dashboard through mobile and online banking.
  • See your VantageScore® 3.0 credit score and ranking.
  • Use Score Simulator to see an estimated credit score if you take certain credit actions.
  • Find helpful credit education information and resources.
• Discounts on money orders. Send money quickly and securely with discounted money orders.

Learn More:

• Best Checking Account Bonuses
• Best Free Checking Accounts
• Best Rewards Checking Accounts
• U.S. Bank Promotions & Offers
• U.S. Bank Checking Promotions & Offers

U.S. Bank Business Checking Accounts

Silver Business Checking Package

Best for new or small businesses with basic banking account needs.

• Minimum opening deposit: $100
• Bank in-person, online or in-app
• One of the largest ATM networks in the US
• Online and mobile banking with bill pay: Manage check, wire and ACH accounts all in one place with SinglePoint® Essentials.
• Card payment processing: Accept payments in person, online and on the go.
• Check fraud prevention: Minimize the risk of fraud with our PCI compliance and check fraud prevention tools.
• Mobile check deposit: Save time by skipping trips to the bank and help improve cash flow.
• Email and text alerts
• U.S. Bank Visa® Debit Card

Gold Business Checking Package

Best for growing businesses with more banking activity.

• Minimum opening deposit: $100
• Bank in-person, online or in-app
• One of the largest ATM networks in the US
• Online and mobile banking with bill pay: Manage check, wire and ACH accounts all in one place with SinglePoint® Essentials.
• Card payment processing: Accept payments in person, online and on the go.
• Check fraud prevention: Minimize the risk of fraud with our PCI compliance and check fraud prevention tools.
• Mobile check deposit: Save time by skipping trips to the bank and help improve cash flow.
• Email and text alerts
• U.S. Bank Visa® Debit Card

Platinum Business Checking Package

Best for mature businesses with higher balances.

• Minimum opening deposit: $100
• Bank in-person, online or in-app
• One of the largest ATM networks in the US
• Online and mobile banking with bill pay: Manage check, wire and ACH accounts all in one place with SinglePoint® Essentials.
• Card payment processing: Accept payments in person, online and on the go.
• Check fraud prevention: Minimize the risk of fraud with our PCI compliance and check fraud prevention tools.
• Mobile check deposit: Save time by skipping trips to the bank and help improve cash flow.
• Email and text alerts
• U.S. Bank Visa® Debit Card

Learn More:

• Best Checking Account Bonuses
• Best Business Checking Account Bonus Offers
• Best Free Business Checking Accounts
• U.S. Bank Promotions & Offers
• U.S. Bank Business Checking Promotions & Offers

U.S. Bank Savings Accounts

Benefits for all U.S. Bank Savings accounts

• No ATM transaction fees at U.S. Bank ATMs. As a U.S. Bank customer, you have access to one of the largest ATM networks in America.
• Overdraft protection options. Get automatic coverage of negative checking balances when you link your savings account to your checking account.
• Account alerts. Stay on top of your account by setting up email or text message reminders about low balances, transfers and other important activity.
• Online and mobile banking. Stay on top of your account by setting up email or text message reminders about low balances, transfers and other important activity.
• Automated savings options. Watch your savings grow when you set up recurring transfers. Just link your savings account to another U.S. Bank account.
• E-statements. Quickly access your savings account statements online anytime. They’re automatically archived, and they’re free.

Standard Savings Account

Basic savings ideal for low balances and first-time savers.

What is a standard savings account? It’s a basic account built for fast, convenient access to your hard-earned money.

• Minimum opening deposit. You’ll need a $25 minimum opening deposit.
• Account interest. Save money and watch it grow by earning interest on your account balance.

Platinum Select Money Market Savings

Exclusive savings account for our Platinum Checking Package customers.

The Platinum Money Market Savings account gives you competitive interest rates and great benefits—and pairs exclusively with the U.S. Bank Platinum Checking Package.

• No monthly maintenance fee. Grow your savings even faster with no monthly maintenance fee.
• Minimum opening deposit. You’ll need a $25 minimum opening deposit.
• Competitive interest rates. Watch your savings increase with our competitive savings account interest rates.

Package Money Market Savings

Competitive savings account rates2 only for Gold Checking Package customers.

The Package Money Market Savings account gives you competitive interest rates and more – exclusively available with Gold Checking Package.

• No monthly maintenance fee. Grow your savings even faster with no monthly maintenance fee.
• Minimum opening deposit. You’ll need a $25 minimum opening deposit.
• Competitive interest rates. Get a competitive savings account interest rate and watch your savings increase.

Elite Money Market Account

Earn more interest on high balance accounts.

The U.S. Bank Elite Money Market Savings Account has tiered interest rates that pay more for higher balances.

• Minimum opening deposit. You’ll need a $100 minimum opening deposit.

Retirement Money Market

An easy way to diversify your U.S. Bank portfolio with valuable tax advantages.

With a Retirement Money Market account, you can diversify your retirement portfolio with a tax advantage. This account requires an individual retirement account plan.

• No monthly maintenance fee. Grow your savings even faster with no monthly maintenance fee.
• Minimum opening deposit. You’ll need a $100 minimum opening deposit or a $25 automatic monthly deposit.
• Competitive interest rates. Build your retirement savings with competitive, tiered interest rates.

Learn More:

• Best Savings & Money Market Rates
• Best Business Savings & Money Market Rates

U.S. Bank CDs (Certificates Of Deposit)

Save your money – and grow it at the same time. A certificate of deposit (or CD) is an account you leave untouched for a set time while it grows interest. You choose your term length3 and how much money to deposit. Along with earning interest, the account is FDIC insured.

There are a few CD options offered at U.S Bank.

Certificate of Deposit (CD)

Grow your money with a term length that works for you.

• Flexible. When it comes to term lengths, this CD is flexible. You can go as short as one month to as long as five years.
• Lower minimum deposit compared to CD Special. You only need a $500 opening deposit for this standard CD.
• Guaranteed. Once you choose the term length and rate, that rate is guaranteed to last throughout the duration of your term.
• FDIC-insured. All U.S. Bank CDs are FDIC-insured.

Step Up CD

Step up your savings with an interest rate increase every seven months.

• Rate increases. Every seven months the interest rate increases during this CD’s 28-month term.
• Transparency. Rates are locked in upon opening the CD. That way you know, up front, what your rate increases will be.
• FDIC-insured. All U.S. Bank CDs are FDIC-insured.

Trade Up CD

Lock in a higher rate one time during your initial term.

• One-time rate increase. If a higher rate comes along during the term of your CD, you can trade up for it.
• Flexibility. Choose between a 30-month and 60-month term.
• FDIC-insured. All U.S. Bank CDs are FDIC-insured.

Learn More:

• Best CD Rates
• Best No Penalty CD Rates

U.S. Bank Credit Cards

U.S. Bank has several options when it comes to credit cards, with a variety of rewards & features to help best suit your needs.

You’ll surely find a credit card that fits your lifestyle.

The U.S. Bank Visa® Platinum Card offers 0% Intro APR on purchases and balance transfers for 18 billing cycles. After that, a variable APR currently 18.99% - 28.99%. You'll have the flexibility to choose a payment due date that fits your schedule. In addition, you'll get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your U.S.Bank Visa® Platinum Credit Card. This card has no annual fee. Learn More About This Card

The U.S. Bank Altitude® Connect Visa Signature® Card offers 50,000 bonus points when you spend $2,000 in eligible purchases within the first 120 days of account opening. That's a $500 value redeemable towards travel, gift cards, cash back, merchandise and more. You'll be able to earn: • 4X points on travel and at gas stations • 2X points at grocery stores, grocery delivery, dining and streaming services • 1X point on all other eligible purchases. Furthermore, you'll receive $30 credit for annual streaming service purchases such as Netflix and Spotify®. and receive up to $100 in statement credits for reimbursement toward your TSA PreCheck® or Global Entry® application fee once every four years. This card comes with $0 introductory annual fee for the first 12 months, After that $95. Learn More About This Card

For more options, you can view their credit card offerings here.

Learn More:

• Best Credit Card Offers & Promotions
• Best U.S. Bank Credit Card Offers

U.S. Bank Monthly Maintenance Fees

Overdraft Fees

Put an end to overdraft fees with the new U.S. Bank Overdraft Fee Forgiven. This new program is a feature that comes with all U.S. Bank consumer checking accounts (excluding Safe Debit Accounts). It provides customers extra time to make qualifying deposits* and bring the account to a zero or positive balance to waive those Overdraft Paid Fee(s).

Overdraft Fee Forgiven – How Does It Work?

• The Overdraft Fee Forgiven period starts the first day the Available Balance becomes negative and an Overdraft Paid Fee(s) was charged.
• U.S. Bank will review the account for a fee waiver at 11 p.m. ET on the business day the Overdraft Paid Fee(s) was charged.
• If the Available Balance (excluding the Overdraft Paid Fee(s) and including immediate and same day deposits), is $0 or more at 11 p.m. ET the Overdraft Paid Fee(s) charged will be waived.

Actions to Help Waive Overdraft Fees

• Monitor your account – Customers with account(s) in the Overdraft Fee Forgiven period will see an alert after they log into U.S. Bank Mobile App or Online Banking. The alert will direct them to the Overdraft Fee Forgiven dashboard, which provides step-by-step instructions on how to get the charged Overdraft Paid Fee(s) waived.
• Set up alerts – Customers who set up the Overdraft Fee Forgiven alerts will receive an email (and/or a text message or push notification) in the morning the day their Overdraft Fee Forgiven period starts.
• Stay in the know – Review your account frequently via online banking or the mobile app, as any additional transactions that further overdraw the account will need to be covered by the deposit(s).

To learn more, view more of the U.S. Bank Overdraft Fee Forgiven program here.

ATM Fees

ATM withdrawals are free at all U.S. Bank locations ($2.50 fee for using non-U.S. Bank ATMs)

If you’re traveling abroad and need to withdraw cash, there could potentially be a 3% fee on the withdrawn amount.

Security

With U.S. Bank‘s strong, &secure online banking platform, you can be at ease about the security of your funds or personal information.

Additional security features that U.S. Bank offers:

• FDIC-insured: Any deposits you make will be protected by the FDIC, up to $250,000.
• Fraud Prevention: 24/7 fraud monitoring, automatic account logout, and industry-leading encryption technology.
• Mobile Security: No personal or financial information is stored on your phone, and all wireless communications are also encrypted.
• Free Security Alerts: If you enroll, S. Bank will give you a heads up if any shady activity occurs in your account.

Alternatives To U.S. Bank

Below are a few alternatives to U.S. Bank:

• Aspiration
• Axos Bank
• Bank of America
• BMO Harris Bank
• Chase Bank
• CIT Bank
• Citi
• Discover Bank
• Fifth Third Bank
• HSBC
• Huntington Bank
• Quontic Bank
• SoFi
• TD Bank

Conclusion

If you live in a state where U.S. Bank resides, this is a great option with many perks and benefits.

You can take advantage of their wide array of products, services, perks, and benefits!

For more banking offers, see our list of the best bank bonuses, bank rates, and CD offers!