U.S. Bank is an American financial company based in Minneapolis, Minnesota. It is incorporated in Delaware. Its parent company is U.S. Bancorp. US Bank is the fifth-largest banking company in the United States. You can do a lot with an account from the institution, including online banking, which eliminates the need to walk to a branch for transactions. You can get several products from the bank, including checking accounts. I will discuss the U.S. Bank checking account in detail shortly.
A checking bank account allows you to keep your money for daily usage. Funds in a checking account are easily accessible 24/7. Furthermore, financial institutions, including the U.S. Bank, allow customers to access their accounts online. You only need a smartphone to access your account via the web or an app. Online banking is convenient as you can do your activities on the move.
Another importance of using a checking account is that financial institutions give you a debit card that you can use to withdraw finances from an ATM. Again, you can use an ATM card to shop online. You only need to input the card number, the CVV, and the date of birth when checking out. Furthermore, the checking account debit card allows you to shop at physical stores by tapping or swiping on the card reader machine.
Qualifications for U.S. Bank Checking Account
For you to open a checking account at the U.S. Bank, there are various things you must have. These include the following.
- A Social Security number.
- A valid, government-issued photo I.D. such as a passport, a driver’s license, or a state or military I.D.
- An opening deposit of at least $25 to activate your account after approval). You can pay the deposit with a debit, credit, or prepaid card. Also, you can transfer money from another U.S. Bank account or another financial institution.
Apply for U.S. Bank checking account
Once you have gathered all the requirements, you can open a checking account with the institution. You can open your account online using your phone or computer. Remember that you can open an account if you are 18 years or older and a legal citizen of the U.S.
Alternatively, you can open an account in person when you visit any U.S. Bank branch. You need all the above identification documents and personal details(Social Security number plus a valid government-issued I.D.). You can also call the U.S. Bank customer care agent to ensure you have everything needed to open a checking account.
You can find the nearest branch online by using the location tool online. The good thing about opening an account at a branch is that you can meet with a financial advisor and talk more about money matters.
Types of U.S. Bank Checking Accounts
When opening a checking account, it is crucial to understand the account you need to meet your financial needs. U.S. Bank has two checking accounts which include the following.
1. U.S. Bank Smartly Checking account
It is an interest-bearing checking account that qualifies for Smart Rewards. The account requires a monthly maintenance fee of $6.95 or $0 since there are various ways to waive the maintenance fee.
2. Safe Debit account
The bank account comes with no checks and no overdraft fees. The monthly maintenance fee is $4.95. Unfortunately, the maintenance fee cannot be waived.
U.S. Ba nk checking account fees
As mentioned above, checking accounts come with monthly fees. You can eliminate the U.S. Bank Smartly Checking account fees when you meet specific requirements. However, you can enjoy the Overdraft Fee Forgiveness program.
Additionally, there are no ATM transaction charges in the U.S. Bank ATMs. Also, there are no surcharge fees when you use MoneyPass Network ATMs.
U.S. Bank checking account bonus
Checking accounts come with perks when you open an account. You can earn up to $500 when you open a new qualifying U.S. Bank Smartly Checking account and finish the required processes. You should enroll in online banking or the U.S. Bank Mobile App and complete two or more direct deposits to receive the bonus.
Again, the bonus you get depends on the total amount of direct deposits. You can earn $300 when you direct deposit a total of $3,000 to $5,999 and $500 when you direct deposit a total of $6,000 or more. To get the bonus, you can visit the bank’s website and tap the Apply button to get the bonus automatically. You can also manually enter the code 2022 OCT when opening an account.
Student Checking Account from U.S. Bank
Students usually require checking bank accounts to carry out various transaction activities. The U.S. Bank Smartly™ Checking account is suitable for students as it offers exceptional benefits and features to persons aged 18 to 24 and youth aged 13 to 17. You may apply for the checking account individually or jointly as a young adult. Those aged 13 to 17 must apply jointly with an adult. Whether you apply as a minor or young adult, you get the following benefits.
- $0 monthly maintenance fees
- $0 ATM transaction fees in the U.S. ATMs.
- $0 overdraft protection transfers
- $0 overdraft fees when overdrawn $50 or below
- A campus banking program at eligible colleges and universities
Cons of U.S. Bank Checking account
There are various disadvantages associated with the U.S. Bank checking accounts. These include the following.
- Monthly fees
- The bonus requires you to meet various requirements.
- Minimum opening deposit
What you need to open a checking account
To highlight what I had mentioned, you require your identification document and a Social Security Number (SSN) to open an account. You also require another bank account or a payment card to pay your deposit.
U.S. Bank is an American financial company based in Minneapolis, Minnesota. It is incorporated in Delaware. Its parent company is U.S. Bancorp. U.S. Bank is the fifth-largest banking company in the United States. Among the various products, you can get from the institution is a checking account. You require a minimum of $25 to open a checking account from the institution.