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U.S. Bank Promotions of 2024

Review Updated
Steven Porrello
Author: Steven Porrello
Steven Porrello
Steven Porrello
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Steven is a personal finance writer covering topics from mortgages to credit cards to market news. He has written for The Motley Fool Canada, Ramsey Solutions, Nerdwallet, Clever Real Estate, and other major outlets. Steven launched his writing career at the age of four with his first book, "Revenge of the Bad Guys." He currently lives in Portland, Oregon.

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Eric McWhinnie
Fact Checked: Eric McWhinnie
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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

U.S. Bank is currently offering some of the best promotions for new checking and savings accounts. To see if you qualify, check out the details below.

Platinum and Silver Business Checking Accounts: Earn up to $400 or $900

U.S. Bank Silver Business Checking
Open Account for U.S. Bank Silver Business Checking

On U.S. Bank's Secure Website.

Member FDIC.

Ratings Methodology
Rates as of Dec 06, 2024

U.S. Bank Silver Business Checking

Open Account for U.S. Bank Silver Business Checking

On U.S. Bank's Secure Website.

Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. 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, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. 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
Open Account for U.S. Bank Silver Business Checking

On U.S. Bank's Secure Website.

APY
0%
Min. To Earn APY
N/A
  • No monthly fees
  • 125 free monthly transactions
  • Discounted checks
  • Low minimum deposit
  • Large branch and ATM network
  • Card payment processing and cash management services available
  • Not interest-bearing
  • Can be costly for businesses with high transaction volumes
  • Transaction limits

The U.S. Bank Silver Business Checking account is a good fit for small business owners who aren't ready to pay for a business checking account. Its feature list may not be as robust as some of its competitors, but it comes with all the tools you need to manage your funds as well as a decent number of free monthly transactions.

Read Full Review

U.S. Bank Platinum Business Checking

Open Account for U.S. Bank Platinum Business Checking

On U.S. Bank's Secure Website.

Member FDIC.
Open Account for U.S. Bank Platinum Business Checking

On U.S. Bank's Secure Website.

APY
0%
Min. To Earn APY
N/A
  • Monthly maintenance fee is waivable
  • 550 free transactions per month
  • 250 free cash deposit units per statement cycle
  • 50% discount on first check order with Deluxe Corporation, up to $100
  • Free mobile check deposit
  • Monthly maintenance fee applies if not waived
  • Not interest bearing
  • Free monthly transaction and cash deposit limitations

The U.S. Bank Platinum Business Checking package is the top-tier business checking account. If your business needs hundreds of transactions per month, this account could be the right fit. The $30 monthly fee is easy to waive, or could be worth paying as a cost of doing business for well-established companies.

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How you earn it:

  1. Open a U.S. Bank Silver Business Checking or U.S. Bank Platinum Business Checking account online by Jan. 15, 2025. Use promo code "Q4AFL24."
  2. Deposit at least $5,000 or $30,000 in new money within 30 days. You'll get a $400 bonus when you deposit $5,000 in a U.S. Bank Silver Business Checking account, and a $900 bonus when you deposit $30,000 in a U.S. Bank Platinum Business Checking account.
  3. Maintain that daily balance for at least 60 days after opening your account.
  4. Receive your bonus. U.S. Bank will deposit your bonus into your account within 30 days after satisfying the criteria.

How you qualify: You cannot currently have a U.S. Bank Business Checking account, nor have had one in the last 12 months.

Where to open an account: Online, in person, or over the phone.

Monthly fees: The U.S. Bank Silver Business Checking account does not have a monthly fee. Meanwhile, a U.S. Bank Platinum Business Checking account has a $30 fee that's waivable by maintaining $25,000 in your account or having $75,000 in combined average collected business deposits and outstanding credit.

Offer expires: After Jan. 15, 2025.

Bank Smartly® Checking Bonus: Earn $450 with $7,500 or more direct deposit

U.S. Bank Silver Business Checking
Open Account for U.S. Bank Silver Business Checking

On U.S. Bank's Secure Website.

Member FDIC.

Ratings Methodology
Rates as of Dec 06, 2024

Bank Smartly® Checking

Read Review
Member FDIC.
Rating image, 3.50 out of 5 stars.
3.50/5 Circle with letter I in it. 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 Circle with letter I in it. 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
Read Review
APY
Undisclosed
Min. To Earn APY
$0.01
  • Advanced digital banking tools for budgeting and financial goals
  • 24/7 customer support
  • Branch access (if you live near one)
  • Overdraft protection and fee forgiveness
  • FDIC insured
  • Balance requirement to waive monthly fee

The Bank Smartly® Checking account has most standard features for a checking account offered by a major bank, including broad ATM access, multiple ways to deposit and withdraw funds, and digital tools for tracking your budget. The account earns interest, but you'll have to contact U.S. Bank to get the latest APYs. There’s a monthly service fee, but there are several ways to have it waived.

How you earn it:

  1. Open a Bank Smartly® Checking account by Sept. 26, 2024, with $25. You must open this account online on the U.S. Bank offer page or use promo code 2024JUL on your account application.
  2. Enroll in online banking or download the U.S. Bank app. You must do this sometime within the first 90 days.
  3. Make at least two eligible direct deposits within the first 90 days. Your bonus will depend on the combined total of your direct deposits.
  • Earn $250 with total direct deposits between $2,000 and $4,999.99
  • Earn $350 with total direct deposits between $5,000 and $7,999.99
  • Earn $450 with total direct deposits of $8,000 or more

4. Receive your bonus. The bonus will be credited to your account within 60 days of meeting the offer requirements.

How you qualify: Use promo code 2024JUL on your application page. Plus, you cannot currently have a U.S. Bank personal checking account, nor have had one in the last two years. This also applies to anyone listed on the account, like a spouse.

Finally, your account must still be open with a positive balance at the time when the bonus is deposited.

Where to open an account: Online, in a U.S. Bank branch, or over the phone.

Monthly fees: $6.95, which can be waived through one of the following:

  • Maintain an average account balance of $1,500 or more
  • Have combined monthly direct deposits totaling at least $1,000
  • Have a qualifying U.S. Bank personal credit card that's in good standing
  • Be 24 or younger or 65 or older
  • Be a member of the military

Offer expires: After Sept. 26, 2024.

What else should you know about U.S. Bank bonuses?

The biggest thing to keep in mind is account fees. Most of the accounts listed above have a monthly fee, along with options to waive it. As long as you meet the criteria to waive the fee, you'll have nothing to worry about. However, if fee waivers are a hassle, you might be better off looking at free checking or savings accounts.

Are U.S. Bank promotions worth it?

U.S. Bank currently offers some of the most competitive bonuses for its checking accounts. While other banks offer $200 to $400 as welcome bonuses for new customers, U.S. Bank will give you up to $450 for Bank Smartly® Checking.

That said, the criteria aren't exactly low (you need at least $8,000 in direct deposits). If you can't satisfy the requirements, you might be better off looking at other bank bonuses.

Compare savings rates

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
3.90%
Rate info Circle with letter I in it. 3.90% annual percentage yield as of December 7, 2024. Terms apply.
Min. to earn: $0
N/A
Open Account for American Express® High Yield Savings

On American Express's Secure Website.

up to 4.00%²
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
3.80%
Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A

Our bank and credit union methodology

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.

FAQs

  • Yes, bank bonuses are considered taxable income, so it's wise to set some of your bonus aside for taxes. During tax season, U.S. Bank will likely send you a 1099-INT form, which you can use to report your interest income on your taxes.

  • Yes, as long as you're considered a new account holder, you can qualify for multiple promotions. For example, if you open a Bank Smartly® Checking and U.S. Bank Silver Business Checking account at the same time, you could technically earn $750 by meeting all the criteria.