Pros Explained

• Extensive network of ATMs and physical locations: With more than 2,400 澳洲幸运5开奖号码历史查询:brick-and-mortar branches and 4,200 ATMs in the U.S., you won’t have a problem setting foot in a bank or pulling money from an ATM.
• Different types of certificates of deposits (CDs): If you’re looking for a place to tuck your money away for a longer duration, U.S. Bank offers an expansive swath of CDs with different features and rates.
• Wide selection of accounts and financial products: You won’t find a shortage of deposit accounts and financial products here. U.S. Bank offers everything from mortgages and credit cards to RV and boat loans and retirement accounts.

Cons Explained

• Physical locations are available in only 26 states: While U.S. Bank touts a vast network of physical branches, they’re only available in 26 states, most of which are located in the Western half of the country.
• Interest rates not competitive: Across the board, the interest rates for different deposit accounts are very low. You’d probably want to look elsewhere for more-competitive rates.
• Minimum balance requirements to avoid monthly fees: Whether you’re trying to get the monthly account maintenance fee dropped or want to earn a higher interest rate, you’ll need to keep the required minimum balances. Otherwise, expect very low rates or to pay for those pesky money fees.

Who Is U.S. Bank Best for? 

U.S. Bank should appeal to most customers who want a reputable, long-standing bank with a full range of deposit accounts and financial servi🔴ces. It might be a part💞icularly good fit if you:

• Want a lot of different options to park your money in a CD 
• Live in the West or Midwest and prefer to set foot inside a physical location 
• Prefer a wide range of deposit accounts and services 
• Plan to open different types of accounts or use financial services with a single bank

What Does U.S. Bank Offer?

As U.S. Bank is one of the largest banks in the nation, you can expect an extensive range of deposit accounts, financial products, and services. What’s more, it offers accounts and products for businesses and also wealth management services. Its personal accounts a𝓀nd services include:

• Savings Accounts 
• Checking Accounts 
• Money Market Accounts 
• CDs 
• Credit Cards

Savings Accounts

If you have a Platinum Checking Package and own a small business, you’re eligible to open a Platinum Business Money Market Account. You’ll need at least $100 to open an account, and there’s no m💛o🥃nthly account fee.

*Receive a bonus interest rate up to 3.50% from the account opening date when you open a new Platinum Business Money Market Account and complete qualifying activities, subject to certain terms and limitations. Terms apply.

The Elite Money Market Savings account requires a minimum of $50,000 to open, and t♉o waive the $10 monthly maintenance fee, you’ll need to keep a $10,000 minimum daily balance. The𒆙 interest rates for the Elite Money Market Savings are:

Geared for those with an individual retirement account (IRA) with the bank, the Retirement Money Market account has no monthly m🌠aintenance fee. To open an account, there’s a minimum of $100 to open or a $25 automatic deposit. While it’s advertised as a way to diversify your U.S. Bank investment por🦩tfolio, it’s not entirely apparent how it stands out against other saving or investing for retirement vehicles.

Checking Accounts

The Bank Smartly Checking Account has no monthly maintenance fees if you meet one of thꦍree requirements:

• Maintain an average balance of at least $1,500
• Maintain a U.S. Bank credit card
• Have combined monthly direct deposits totaling at least $1,000

If at least one of those conditions is not me🧔💯t, the monthly fee is $6.95.

As an alternative to a traditional checking account, U.S. Bank offers the Safe Debit Account, its version of a prepaid debit card. Safe Debit offers more features than what typically comes with a standard prepaid debit card. For instance, mobile and online banking, as well as the ability to do a mobile check deposit, are included. 

You’ll nཧeed $25 to open an account, and there’s a $4.95 monthly maintenance fee that can’t be waived. There are limitations. For instance, other accounts cannot be linked to this account for overdraft protection.

As U.S. Bank has quite an extensive network of ATMs in its MoneyPass network—more th📖an 3💙7,000—you won’t be hit with a surcharge. However, for ATM withdrawals outside of this network, there’s a $2.50 fee.

U.S. Bank also offers a free 澳洲幸运5开奖号码历史查询:credit score. Throꦯugh TransUnion CreditView, you can see your current 🗹score and how it might change if you take different actions, as well as have access to different resources.

U.S. Bank’s Student Checking comes with all the usual features of a checking account. There’s no monthly maintenance fee, and your first order of checks is free. Another nice perk is tওhat the surcharges on the first four non-network ATM withdrawals within a statement period are covered. Once you hit four withdrawals, however, the fees kick in.

CDs

If you’re able to squirrel away a set amount of funds and leave them untouched for a set amount of time, a CD might be a good option. The interest rates are typically higher than in a savings or money market account. The downside is that if you need to pull money out before the maturity date, you’ll be pegged with an early withdrawa൩l penalty. U.S. Bank offers four type✤s of CDs.

If you have at least $500 to put into a U.S. Bank CD, here are the APYs:

The early withdrawal p﷽enaltiꦏes are the same for all CDs. 

If the account has a term of six months or less, you’ll be dinged with a $25 early withdrawal fee and either 1% of the amount you take out or all the interest that would’ve been earned on the funds withdrawn💛 for the entire term, whichever is greater.

If the account has a term that’s greater than six months through 12 months, it’s $25 plus either one-ha𝓰lf of all the interest that would’ve been earned o🌼n the funds withdrawn for the entire term or 1% of the amount withdrawn, whichever is greater.

And for accounts with a term that’s greater than one year? You’ll neꦍed to pony up $25 plus whichever is greater: one-half of the interest that would’ve been earned on the funds withdrawn for the entire term or 3% of the amount you took out.

If you have at least $1,000 to park into a CD Special, you can snag the following promotional APYs:

A 28-month CD, the Step Up CD locks you into a rate when you open. You can deposit anywhere from ♌$1,000 to $250,000. Then every seven months you get an APY bump, as follows: 

Are you looking to save for anywhere from 30 to 60 months? Then a Trade Up CD might be something to consider. If a higher APY comes your way during your term, you’re eligible for a one-time bump. The rates are🦄 as follows: 

If these rates aren't what you are looking for, you might look into a high-yield savings account instead.

Credit Cards

U.S. Bank offers a number of credit cards, including cash back, travel, and low-interest cards. You can also find secured cards 澳洲幸运5开奖号码历史查询:and ones for small businesses. There are also partner cards available for U.S. bank customers. Here are just some of U.S. Bank’s credit card offerings.

General Travel Cards 

• U.S. Ban♒k Altitude Reserve Visa Infinite Card 
• U.S. Bank FlexPerks Gold American Express Card
• U.S. Bank Altitude Connect Visa Signature Card 

Cash-Back Credit Card

• 澳洲幸运5开奖号码历史查询:U.S. Bank Cash+ Visa Signature Card 
• U.S. Bank Altitude Go Visa Infinite Card
• U.S. Bank Altitude Go Visa Signature Card 

Low-Interest Credit Card

•  U.S. Bank Visa Platinum Card

Secured Credit Card

• U.S. Bank Secured Visa Card
• U.S. Bank Altitude Go Visa Secured Card 
• U.S. Bank Cash+ Visa Secured Card 
  

Business Credit Cards 

• U.S. Bank Business Leverage Visa Signature Card 
• U.S. Bank Triple Cash Rewards Visa Business Card

Other Financial Products Offered by U.S. Bank

U.S. Bank has a robust range of other offerings:♍ 

• Car Loans
• Boat Loans 
• RV Loans 
• Personal Loans
• Business Loans  
• Mortgages
• 澳洲幸运5开奖号码历史查询:Mortgage Refinance
• 澳洲幸运5开奖号码历史查询:Home Equity Loans ꧂and Lines of Credit 
• Self-Directed Trading 
• Managed Investment Portfolios 
• IRAs 
• Financial Advisors

U.S. Bank Customer Service

U.S. Bank offers its customers a number of ways to reach out to its reps: by phone, online, or through a mobile app. In the J.D Power U.S. Merchant Services Satisfaction Study for 2020, U.S. Bank ranked #1 with a score of 882. It als𒁃o landed the top spot in two major categories: cost of service, and security and chargeback management.

How to Bank With U.S. Bank

Openin𓆏g an account with U.S. Bank is pretty standard. You’ll need to provide a form of a government-issued ID and pop in some personal information. Got quꦦestions? Call and talk to a customer service rep. 

Methodology

Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of banks. We col💙lected over 20 data points across more than 80 banks—including products available, interest rates, fees, and accessibility—to ensure that our content helps users make the right decision fꦰor their savings and banking needs.