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U.S. Bank; Member FDIC Review

Over a century and a half of banking experience

Reviews 902
U.S. Bank; Member FDIC
Visit Site
U.S. Bank; Member FDIC
U.S. Bank; Member FDIC
Poor
Reviews 902
Patrick Sather
Sep. 01, 2023
4 min read
Patrick Sather
U.S. Bank; Member FDIC Summary
US Bank offers 5 checking accounts to choose from along with savings and investment accounts, home loans, and credit cards. If you fund a new Easy, Gold, or Platinum Checking Account with two deposits totaling $5,000 within 30 days and maintain a balance until the 60th day after account opening, US Bank will credit you $800. It's easy to manage your spending and transfer funds with the US Bank mobile app, and customer support is available 24/7.

Pros

  • One of the largest ATM networks in the US
  • Bank in-person, online or in-app
  • Easy to track spending, transfer funds, and make deposits

Cons

  • Minimum balance requirements to avoid maintenance fees
  • Low interest rates

U.S. Bank; Member FDIC at a glance

9.2
Editorial score

Fees?

Most products are fee-free
8.0

Security

FDIC insured, SSL/AES encryption and supports 2 factor authentication
10.0

Customer service

Phone support available 24/7
10.0

Online experience

Excellent user friendly site with full online banking capabilities
8.0

Mobile experience

Excellent mobile app with all mobile banking features enabled, including digital check deposits
10.0

U.S. Bank; Member FDIC U.S. Bank; Member FDIC Visit U.S. Bank

Advantages Over Traditional Banks 

Earn up to an $800 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q3AFL23 and complete qualifying activities], subject to certain terms and limitations. Offer valid through January 8, 2024. Member FDIC.

Earn your $500.

  • Make a deposit of at least $5,000 in new money within 30 days of account opening and maintain the balance until the 60th day after account opening.
  • Enroll in U.S. Bank business online banking or the U.S. Bank Mobile App within 60 days of account opening.

Earn your $800.

  • Make a deposit of at least $15,000 in new money within 30 days of account opening and maintain the balance until the 60th day after account opening.
  • Enroll in U.S. Bank business online banking or the U.S. Bank Mobile App within 60 days of account opening.

Cutting-Edge Banking Services 

By downloading US Bank’s mobile app, you can use smart insights to track your spending habits and set savings goals. US Bank makes it simple to transfer funds to friends and family through the mobile app thanks to its partnership with Zelle. Best of all, US Bank offers 24/7 customer support and allows you to schedule virtual, phone, or in-person appointments through its website.

U.S. Bank has recently rolled out its Overdraft Fee Forgiven program, which gives customers the ability to waive overdraft fees if they meet specific conditions once their account goes into overdraft. All U.S. Bank consumer checking accounts qualify for this new program, excluding the Safe Debit Account. 

Some other highlights include:

  • Online and mobile banking with bill pay: Manage check, wire and ACH accounts all in one place with SinglePoint® Essentials
  • Card payment processing: Accept payments in person, online and on the go
  • Check fraud prevention: Minimize the risk of fraud with our PCI compliance and check fraud prevention tools
  • Mobile check deposit: Save time by skipping trips to the bank and help improve cash flow
  • Email and text alerts

Traditional Banking Services

US Bank offers traditional banking services including home loans, investment accounts, savings accounts, and checking accounts. Additionally, US Bank features 9 different credit cards, including rewards cards and secure cards. It maintains 2,900 physical locations across 26 states* and 4,700 ATMs nationwide. 

Interest Rates and Fees

With US Bank, you can choose between 3 different checking accounts. Each one requires a minimum opening deposit of $100 and offers a unique set of terms and conditions. While some accounts charge monthly maintenance fees, most accounts provide a fee waiver, and some do not charge a fee at all. All accounts offer a certain amount of free transactions and other attractive benefits. 

Silver Business Checking Acount

  • Monthly maintenance fee: $0
  • Free transactions per month: 125. $0.50 fee for each additional transaction


Gold Business Checking Account

  • Monthly maintenance fee: $20
  • Requirement to waive maintenance fee:
    • Open a U.S. Bank Payment Solutions Merchant Account OR
    • $10,000 average collected checking balance or $25,000 average collected checking balance on interest-bearing option OR
    • $20,000 in combined average collected deposit balances or $50,000 in combined average collected deposit balance on interest-bearing option OR
    • $50,000 combined average collected business deposits and outstanding business credit balances OR
    • $75,000 in combined business deposit and outstanding business credit
  • Free transactions per month: 300. $0.45 fee for each additional transaction
  • Additional features: 
    • 50% discount on first check order up to $100
    • Free front check image on your monthly checking account statement


Platinum Business Checking Account

  • Monthly maintenance fee: $30
  • Requirement to waive maintenance fee: 
    • $25,000 average collected checking balance OR
    • $75,000 combined average collected business deposits and outstanding business credit balances
  • Free transactions per month: 500. $0.40 fee for each additional transaction
  • Additional features: 
    • 50% discount on first check order up to $100
    • Free mobile check deposit
    • Free front and back check images on your monthly checking account statement

Customer Service and Online Experience

Navigating US Bank’s website is simple. All of the information is intuitively laid out, and the site features Support and FAQs links where you can get answers to most general questions. If you need immediate assistance, customer service is available by phone 24/7 at 800-872-2657. Alternatively, you can book a future virtual, phone, or in-person appointment online in just a few minutes. 

Mobile App  

US Bank’s mobile app is available for Android and iPhone devices through the Apple Store or Google Play. With US Bank’s mobile app, you can keep track of your spending habits and set savings goals. It’s easy to set travel notifications on your cards when you’re going out of town to avoid spending delays. For people who need to send money on the go, US Bank offers mobile check deposits and speedy money transfers with Zelle. 

Security 

All of US Bank’s checking accounts are FDIC-insured and protected with SSL encryption. Its mobile app offers numerous security features including facial and fingerprint recognition, 1-time passcodes, and visual pattern locks. For added protection, you can sign up for security alerts that send you a text whenever your account information changes. If you believe you have been the victim of fraud, US Bank’s Fraud Liaison team is available 24/7 at 877-595-6256 to answer your questions and help you secure your account. 

Summary

US Bank provides numerous banking services and products including 3 business checking accounts. These accounts offer different features such as free monthly transactions, ways to waiver monthly fees, and more. Its mobile app makes it easy for you to track your spending, set savings goals, and transfer or deposit funds. Additionally, it offers 24/7 customer support and a simple yet effective online banking experience.

Methodology

This review was created based upon information available on US Bank’s website and customer and 3rd-party reviews.

U.S. Bank; Member FDIC U.S. Bank; Member FDIC Visit U.S. Bank

Patrick Sather
Written by
Patrick Sather
Patrick Sather is an award-winning personal finance writer and licensed broker who has worked for some of the largest financial firms in the United States, including TD Ameritrade and Pacific Life. A graduate of the University of Nebraska in both Economics and International Trade and English, his articles on life's most common financial decisions and quandaries are straightforward, practical, and always easy to understand.
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Trustpilot reviews
See what some customers are saying about U.S. Bank; Member FDIC
Bad • Reviews 902
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Richard P.
3 months ago
I love this bank
I love this bank. In Los Angeles, every bank is very busy. But not US Bank. Lines are very low and customer service is always excellent, no matter what branch I go to. I conduct all business here. The savings accounts, however, should yield back more returns though.
Roodles Poodles
5 months ago
Don't trust this unethical bank. But the bankers can help if you're persistant.
I put a large deposit in my US Bank account from another bank. They put my funds on hold for 8 days on the first of the month. They say it's "Fraud Protection" to see if the "funds are collectable". That's a lie because they already withdrew the money from my other bank 2 days earlier. True story: my car will likely be repossessed, and I'll be late on rent. Edit: The bank put me in a dire situation financially, but the staff of my local branch helped me release my funds in time. They talked to a regional manager who was able to override their archaic fraud prevention system. Bank score: 1, local branch employees: 5. Thanks, Kevin. You are the definition of how a bank teller should perform.
SD Staging
5 months ago
I love US Bank
I love US Bank! My favorite branches are in Pacific Beach and Morena in San Diego. The tellers are so friendly and helpful. Never long waits either.
Bl
Blue
5 months ago
Review
I tried out their service and the guy gave me free 6 months of checking account because the normal price would have been $4.95 a month maintenance fee. So I did not to stay and they were okay with that. Tried out the debit card worked fine at the ATM did a deposit small amount that worked out fine. Inside the branch it worked out really well and they were very friendly staff. Gave me a few free checks just for joining this Bank at least at my location in my area. Don't know when the date of experience happened forgot.
Barb Gottas
7 months ago
Awesome US Bank Employee Faye Tan
Sometimes someone does something exceptional that changes your life. An employee at a U.S. Bank branch did for me. Faye Tan, at the Montecito branch in Las Vegas, Nevada made a difference in my life one day last month. She helped me with a huge problem. Faye was kind, compassionate and professionally solved what was overwhelming to me. Thank you, Faye, I am grateful you were there.
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