[Expired] U.S. Bank $300 Checking Bonus, $50 Savings Bonus

Bonus has ended, view more bank account bonuses by clicking here.

Offer at a glance

• Maximum bonus amount: $350
• Availability: Must live in U.S. Bank’s footprint (see also this post)
• Direct deposit required: Yes, two deposits totaling $2,000 or more
• Additional requirements: See below
• Hard/soft pull: Soft
• ChexSystems: Mixed data points
• Credit card funding: Can fund up to $50 with a credit card
• Monthly fees: $6.95 avoidable
• Early account termination fee: None
• Household limit: One
• Expiration date: August 31st, 2020

The Offer

Direct link to offer

• U.S. Bank is offering a bonus of up to $350 when you open a checking & savings account. Bonus is broken down as follows:
  • Earn $300 when you open a new Platinum, Gold or Easy Checking account and complete two or more recurring direct deposits that total a minimum of $2,000 and enroll in eStatements within 60 days of account opening
  • Earn $50 when you open a new U.S. bank Standard Savings account and have deposit(s) of $2,000 or more by September 8th and maintain $2,000+ through November 30th, 2020

The Fine Print

• A minimum deposit of $25 is required to open a U.S. Bank consumer checking account. To earn the $300 checking bonus offer, you must open a new U.S. Bank consumer checking account (excluding Student Checking and Safe Debit Account) between and including July 1, 2020 and August 31, 2020.
• Additionally, you must complete recurring direct deposits of two or more that total $2,000 or more and be enrolled eStatements within 60 days of account opening.
• The checking bonus will be deposited into your new checking account within 60 days of direct deposit verification, and verification of enrollment in eStatements as long as your account is open and has a positive balance.
• Offer may not be combined with any other checking account bonus offers.
• Offer is not valid if you or any signer on the account has an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last six months, or received other U.S. Bank bonus offers within the past 12 months.
• A $25 minimum deposit is required to open a new U.S. Bank Standard Savings account.
• Earn your $50 bonus by opening a new U.S. Bank Standard Savings account between and including July 1, 2020 and August 31, 2020.
• Additionally you must make deposit(s) of $2,000 or more by September 8, 2020 then maintain a minimum total account balance of $2,000 or more through November 30, 2020.
• The $50 bonus will be credited to your new savings account within 60 days after you have completed the savings requirements listed above. Standard Savings is a variable rate account.
• Offer is not valid if you or any signer on the account has an existing U.S. Bank consumer savings account, had a U.S. Bank consumer savings account in the last six months, or received other U.S. Bank bonus offers within the past 12 months.
• Limit one checking and one savings bonus per household. Bonus(es) 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.

Avoiding Fees

Monthly Fees

Easy Checking

This account has a $6.95 monthly fee and is waived if you meet any of the following requiremnets:

• Combined monthly direct deposits totaling $1000+ – or –
• Average account balance of $1,500.- or –
• Account holder(s) age 65 or greater.

Gold Checking

This account has a $14.95 monthly fee but is waived if you have a U.S. Bank credit card. Many of us have a U.S. Bank personal credit card like Altitude, Flexperks, or Cash+ which would work to keep the account fee-free. Another option is to get the Gold account and get the fee waived if you have a good credit score and join the Because You’ve Earned It program. 

Standard Savings

This account has a $4 monthly fee. This is waived if you do either of the following:

• $300 minimum daily ledger balance OR
• $1,000 average monthly collected balance OR
• account holder(s) under age 18

Early Account Termination Fee

There is no early account termination fee to worry about

Our Verdict

The $300 checking bonus is a standard bonus that we see often. In the past we’ve seen a $200 savings bonus (alongside a $200 checking) and a very limited $200-$300 in branch bonus. Not sure the $50 savings bonus is worth doing but as we usually don’t see other savings bonuses from U.S. Bank it might be worth it for some readers. The checking bonus definitely is worth doing if you haven’t done it already. We will add it to our best bank bonus page.

Hat tip to reader Kam

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times