U.S. U.S. Bank Checking Accounts at a Glance
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Physical Locations |
There are more than 2,000 branches in 26 states. Most of them are located in the west and midwestern U.S. |
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Getting started |
It’s easy to open an account online or in person (minimum $25 opening deposit). |
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Monthly service charge |
$6.95 (fee waived for certain requirements |
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Overdraft fees |
$36 per transaction (unless overdraft protection is enabled) |
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Other charges |
You can opt for paper statements and wire transfers from out-of-network ATMs. |
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How do I deposit |
Checks, cash, ACH transfers, direct deposit, wire transfers, Zelle |
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How do I withdraw |
Cash, debit card and Zelle. ACH transfer, wire transfer, money orders, check. |
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Noteworthy feature |
Reward yourself with higher interest rates for your savings and waived fees depending on the size of you account balance |
U.S. Bank is the country’s fifth-largest bank. It offers a variety of banking services, including loans, credit cards and deposits. It has many branches, just like big banks. It comes with high fees, confusing programs and very low interest rates.
U.S. Bank offers two types of checking accounts. We’ll be reviewing the U.S. Bank smartly checking account.
5 Things You Need to Know About A U.S. Bank Checking Account
These are some things to consider when you’re looking at a U.S. Bank check account:
1. It may be difficult to avoid paying fees
The sales page for Bank Smartly’s checking account would lead you to believe there were no ATM fees or overdraft fees and it would be simple to avoid the monthly maintenance fee. If you look carefully at the fine print, it’s possible to see that this is true.
To avoid these fees, it’s important to be aware of all requirements and to jump through hoops if necessary. You should look elsewhere if you are looking for a free checking account.
2. More branches are available in the western and midwestern states
U.S. Bank operates thousands of branches, with most of them located in the west and midwestern U.S. You might not be able to bank in person if you are located in the Eastern or Southeastern U.S.
3. Mobile and online banking are excellent
U.S. Bank is not only located in many locations but also has a global digital footprint. According to the bank, around 80% of customer banking transactions are now done digitally and 65% of loans. The U.S. Bank app can be used to access almost any service, such as checking bank statements, making transfers, depositing checks and paying bills.
A representative at the bank will tell you that to open a checking account online, you must live within a certain radius of a U.S. Bank location. This distance is determined by your ZIP code.
4. Earn interest
Interest can be earned on funds that you have in a U.S. Bank smartly checking account. Rates are dependent on the “interest tier” you choose. This means that the greater your account balance, the higher your annual percentage yield (or APY).
5. Earn Smart Rewards
Enrolling in U.S. Bank Smart Rewards can help you unlock even more benefits. You can join for free and after your savings and checking account balances reach a certain level, you will start to earn additional perks, such as fees waivers, discounts, or slight increases in your interest rate.
Are U.S. Banks a good choice?
U.S. Bank might be an option if you live in the Midwest or West and need to bank in person. You will need to accept the possibility that your deposit may earn low returns and you might have to pay higher fees.
You may continue to look if you are looking for a bank that charges a lower fee or if you want to do in-person banking in another part of the country.
Is U.S. Bank offering free checking?
U.S. Bank does not offer free checking accounts. If you meet the waiver requirements, it is possible to avoid the $6.95 monthly maintenance fees on U.S. Bank’s Bank Smartly checking accounts.
- Between 18 and 24 years of age
- Are you 65 years or older
- You are a military member
- A U.S. Bank creditcard is available
- Your account has at least $1,000 monthly in direct deposits
- You are eligible to receive one of the U.S. Bank rewards tiers
- Your average monthly checking account balance is $1,500
Not sure if U.S. Are you unsure if U.S. These are some alternatives.
- Ally Bank – Ally Bank has a low fee and high interest rate.
- Alliant Credit Union – Anyone can join Alliant to get access to its banking products and be a part of a community credit union.