[Expired] U.S. Bank $400 Checking Bonus

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

Update 8/6/22: Extended until September 2.

Update 7/08/22: Deal is back and valid until August 8, 2022.

Update 4/30/22: Back again at $400. Valid until June 13

Update 3/1/22: Deal is back at $400.

Update 1/27/22: Deal is back, back down to $400. Hope most readers got the $500 deal.

Update 12/31/21: Deal is back through January 24, 2022, this time the bonus has increased from $200/$400 to $300/$500 and the new promo code is 2022JAN. Updated these details and the link and image below. Hat tip to reader Kwan

Offer at a glance

• Maximum bonus amount: $500
• Availability:Nationwide (excludes NY & FL and any other state without a branch unless you have an existing relationship)
• Direct deposit required: Yes
• Additional requirements: None
• Hard/soft pull: Soft
• ChexSystems: Mixed data points
• Credit card funding: Can fund up to $250 with a credit card
• Monthly fees: $24.95, avoidable
• Early account termination fee:
• Household limit: None
• Expiration date: September 20, 2021 December 6, 2021 January 24, 2022 August 8

The Offer

Direct link to offer

• U.S. Bank is offering a bonus of $400 when you open a new U.S. bank checking account with promo code 2022JUL. Requirements are as follows:
  • Enroll in online banking or the U.S. Bank Mobile App.
  • Complete two or more direct deposits totaling $4,000 or more.

 

 

The Fine Print

• A minimum deposit of $25 is required to open a U.S. Bank checking account.
• To earn your $100, $200 or $400 bonus, open a new U.S. Bank consumer checking account (excluding Student Checking and Safe Debit accounts) from Aug. 3 through and including Sept. 20, 2021. Additionally, you must complete recurring direct deposits of two or more that total: $1,000-$1,999.99 to earn $100; $2,000-$4,999.99 to earn $200; $5,000 or more to earn $400 and be enrolled in U.S. Bank online banking or the U.S. Bank mobile app within 60 days of account opening.
• A direct deposit is an electronic deposit of your paycheck or government benefits (such as Social Security) from your employer or the government. Other electronic deposits or person to person payments are not considered a direct deposit.
• The bonus will be deposited into your new checking account within 60 days of direct deposit verification, and verification of enrollment in e-statements.
• The account must be open and have a positive balance. Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes.
• Offer may not be combined with any other checking account bonus offers.
• Offer is not valid if you or any signer on the account have an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last 24 months, or received other U.S. Bank checking bonus offers within the past 24 months.
• You must use the promotion code listed on this offer when you apply. If you navigate away from this page, the promotion code is not automatically included and you will need to manually input the code during your application.
• Limit one checking offer bonus per person. Current U.S. Bank employees are not eligible. Other restrictions apply. All regular account opening procedures apply. For a comprehensive list of account pricing, terms and policies, see the Your Deposit Account Agreement and the Consumer Pricing Information disclosures. These documents can be obtained by contacting a U.S. Bank branch or calling 800-872-2657.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

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.

Early Account Termination Fee

There is no early account termination fee to worry about

Our Verdict

Unfortunately the terms now have the new 24 month language, previously it was 12 months between bonuses. Better to wait and see if the $500 bonus returns. Because of that we won’t be adding this to our list of the best bank account bonus page.

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