U.S. Bank vs. Chase: Which Bank Is Right for You?
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Bottom line: Chase is better for its higher CD rates and larger network of banks, while U.S. Bank has lower monthly fees on its savings and checking accounts.
Chase and U.S. Bank both offer standard personal checking accounts. The Bank Smartly® Checking has a waivable $6.95 monthly fee, a $25 minimum opening deposit, and overdraft protection.
Likewise, the Chase Total Checking® has a waivable $12 monthly service fee, no minimum opening deposit, and overdraft assistance. Between the two, U.S. Bank's checking account is both cheaper and comes with more ways to waive the fee, including being 24 and under, 65 or older, or a member of the military.
Chase and U.S. Bank each offer a variety of student and business checking accounts as well.
| Offer |
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|---|---|---|
| Account |
Chase Total Checking®
On Chase's Secure Website. |
Bank Smartly® Checking
|
| Rating |
Rating image, 3.50 out of 5 stars.
3.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Rating image, 3.50 out of 5 stars.
3.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
| APY | 0% | Undisclosed |
| Min. to earn APY | — | $0.01 |
| Next Steps |
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*With Chase Overdraft Assist℠, we won't charge an Overdraft Fee 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 you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.
**Monthly service fee is $12, or $0 with one of the following, each monthly statement period:
You'll find a variety of account options with both Chase and U.S. Bank.
Chase and U.S. Bank both offer a basic savings account, the Bank Smartly® Savings Account and Chase Savings℠. The two accounts have the same monthly maintenance fee -- $5 for Bank Smartly® Savings Account and for Chase Savings℠. But Bank Smartly® Savings Account also has a $25 minimum opening deposit, whereas the Chase has none.
Both accounts give you multiple ways to waive the fee, such as maintaining a daily balance of $300. Neither account has a competitive APY, at least not in respect to high-yield savings accounts.
| Offer |
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|---|---|---|
| Account |
Bank Smartly® Savings Account
|
|
| Rating |
Rating image, 2.50 out of 5 stars.
2.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
|
| APY | 0.01% | up to 3.50% Rate info Earn up to 3.50% APY when you pair a new Bank Smartly® Savings account with a Bank Smartly® Checking or Safe Debit account and combined qualifying balances and Bank Smartly® Savings balances of at least $25,000. |
| Min. to earn APY | — | $25,000 |
| Next Steps |
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Chase and U.S. Bank both offer standard and special CDs with a variety of terms. Between the two, Chase CDs generally have higher rates, but its minimum opening deposit is double U.S. Bank -- $1,000 versus $500. You also need a Chase checking account to snag the best APYs.
In regards to term lengths, Chase also has more to offer its clients. Whereas U.S. Bank has 11 CD terms to choose from (ranging from one to 60 months), Chase has 17 (ranging from one to 120 months). This might make Chase a better choice for those looking to build a long and more varied CD ladder.
APY = Annual Percentage Yield
| Offer |
|
|
|---|---|---|
| Account | Chase Standard CD | U.S. Bank Standard CD |
| 3 Mo. | 2.25% | -- |
| 6 Mo. | 1.50% | 0.05% |
| 9 Mo. | 2.00% | 0.05% |
| 1 Yr. | up to 3.25% | 0.05% |
| 1.5 Yr. | 2.00% | 0.05% |
| 2 Yr. | 2.00% | 0.05% |
| 3 Yr. | 2.00% | 0.10% |
| 4 Yr. | 2.00% | 0.15% |
| 5 Yr. | 2.00% | 0.25% |
| Min. Deposit | $1,000 | $500 |
| Early Withdrawal Penalty | Yes | Yes |
| Next Steps |
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Chase generally has higher APYs for its CDs, though it doesn't have a savings account to compete with the U.S. Bank Elite Money Market Account.
As far as Chase CD APYs go, the bank's standard, non-relationship rates are pretty abysmal, coming in at just 0.01% for every term. It does, however, offer decent APYs for a few terms that it dubs "relationship rates," meaning for customers with a linked Chase personal checking account. As rates can change at any time, it's best to check Chase's website for its current rate sheet showing available relationship rates.
U.S. Bank generally offers rates between 0.05% and 0.25%, though occasionally you'll find special CDs with competitive rates.
Although most U.S. Bank CD rates are not on par with Chase CDs, the U.S. Bank Elite Money Market Account has a decently competitive APY of up to 3.25% when you maintain a $25,000 deposit. This ranks it among some of the top money market accounts in terms of APY. Chase doesn't currently have a money market account or high-yield savings account to compete with this.
Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website.
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
3.60%
Rate info
3.60% annual percentage yield as of June 18, 2025. Terms apply.
Min. to earn: $0
|
N/A
|
Open Account for American Express® High Yield Savings Account
On American Express's Secure Website. |
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 3.80%
Rate info
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
Min. to earn: $0
|
Earn up to $300 bonus with direct deposit.
Plus, new customers earn an extra 0.20% APY on savings for up to 6 months with direct deposit (terms apply) — that equals up to 4.00% APY!
Earn up to 4.00% Annual Percentage Yield (APY) on SoFi Savings with a 0.20% APY Boost (added to the 3.80% APY as of 6/10/25) for up to 6 months. Open a new SoFi Checking & Savings account and enroll in SoFi Plus by 6/24/25. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for Barclays Tiered Savings
On Barclays' Secure Website.
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
3.90%
Rate info
Balances less than $250,000 earn 3.90%, and balances greater than $250,000 earn 4.10%.
Min. to earn: $0
|
N/A
|
Open Account for Barclays Tiered Savings
On Barclays' Secure Website. |
Chase and U.S. Bank are neck in neck in customer service reviews. Chase has a slight edge in that it ranked higher on the J.D. Power 2023 National Banking Satisfaction Study, which gave it a score of 674, significantly higher than the study's average of 653. U.S. Bank had a score of 652, below the study's average along with several other big national banks.
On the Better Business Bureau, Chase has an A+, while U.S. Bank's rating is currently under review ("NR"). They both share a "bad" rating on Trustpilot (1.3 stars) and roughly one star on their BBB profiles.
Both banks have highly rated mobile apps with similar banking features and tools. They both let you deposit mobile checks, give you personalized insights to your spending, and let you link external accounts to get a full picture of your personal finances. Both apps also let you send and request money with Zelle and also let you access and monitor your credit score.
Chase's app has a collective 4.6 stars on both the Apple App Store and Google Play, while U.S. Bank has a slightly higher collective rating of 4.75 stars across both.
If you're looking for the cheapest savings or checking account from a big national bank, U.S. Bank might be right for you. The bank also gives you plenty of ways to waive fees, including holding a U.S. Bank credit card or being a member of the military.
Chase, on the other hand, has the largest branch network in the U.S. with over 4,700 branches in 48 states. It also has more CD terms and generally higher rates. While the fees on its savings and checking accounts are slightly higher than U.S. Bank, it does offer numerous ways to waive them.
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
Learn more about how Motley Fool Money rates bank accounts.
Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.
These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.
We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.
Learn more about how Motley Fool Money rates bank accounts.
If you're looking for a large national bank with branches across the 48 contiguous U.S. states, Chase might be right for you. It also might be a good fit for those who want an easy way to waive fees on checking and savings accounts, as its requirements are comparatively low.
U.S. Bank might be a good choice if you want a low monthly fee on your checking and savings account, plus numerous ways to waive it. Its checking account is also well suited for those who are older than 65, younger than 24, a member of the military, or have a U.S. Bank credit card, as account fees are automatically waived.
That said, you have to live in one of the states where U.S. Bank operates to open an account (Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming).
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page. APYs are subject to change at any time without notice.
