If you’re on the hunt for a fresh banking experience and wouldn’t mind a financial incentive for making the switch, U.S. Bank (Member FDIC) might just have the offer you’ve been waiting for. New customers who fulfill specific requirements have two alluring bonus options to choose from: a consumer account bonus worth up to $700 and a business checking bonus reaching up to $800.

Let’s delve into the specifics of each of these enticing offers.

U.S. Bank Offer: Up to $700

Unlock the potential to earn up to $700 by initiating a new U.S. Bank Smartly® Checking account alongside a Standard Savings account (Member FDIC) and fulfilling the requisite criteria. However, it’s imperative to act swiftly as this promotion is available for a limited time, expiring on June 27, 2024.

U.S. Bank Smartly® Checking Account (Member FDIC)

• Our Assessment: 4/5 stars

• Initial Deposit Requirement: $25

• Introductory Bonus: Up to $700, Valid until June 27, 2024

• Insight: The Smartly® Checking Account stands out as the prime choice for those considering a checking account with U.S. Bank. This account encompasses a comprehensive array of standard banking functionalities, including mobile check deposits and automated bill payments. Although it entails a $6.95 monthly fee, it’s easily waivable, with a mere $25 required for account initiation.

How to Secure the $700 Consumer Bonus

Eligibility for the current U.S. Bank offer mandates the opening of a U.S. Bank Smartly® Checking account alongside a Standard Savings account to seize the $700 reward.

Here’s the breakdown on how to clinch the $700:

Earn rewards up to $700 upon the establishment of a new U.S. Bank Smartly® Checking account and a Standard Savings account, subject to specific terms and constraints. Offer valid until June 27, 2024. Member FDIC.

1. Earn up to $500 with a new Bank Smartly Checking account.

2. Within 90 days of opening your account, complete the following:

• Enroll in online banking or the U.S. Bank Mobile App.

• Arrange for two or more direct deposits totaling $3,000 to $4,999.99 to receive $100, $5,000 to $9,999.99 for $300, or $10,000 or more to earn $500.

3. Pocket up to $200 with a new Standard Savings account.

• Deposit new funds totaling $15,000 or more by July 17, 2024.

• Maintain this balance until October 31, 2024.

Please note, this offer may be geographically restricted outside U.S. Bank’s footprint for non-clients of U.S. Bank or State Farm.

Lucrative $800 U.S. Bank Business Checking Promotion

U.S. Bank is currently running an enticing promotion for new Business Checking customers, offering them an opportunity to earn between $400 and $800. This promotion is valid until August 30, 2024, and the amount earned is contingent upon the sum of money deposited into the account. Notably, this offer encompasses several of U.S. Bank’s Business Checking packages, making it accessible to companies of varying sizes.

Steps to Qualify for the Full $800 Business Checking Bonus

To seize the full $800 incentive, follow these steps:

1. Open a new U.S. Bank Silver, Gold, or Platinum Business Checking account using the promo code Q2AFL24. A minimum initial deposit of $100 is required for any of these account types.

2. Enroll in online banking or the U.S. Bank mobile app within 90 days of opening the account, alongside the initial account setup.

3. Within 30 days of opening the account, deposit a minimum of $5,000 in new funds to qualify for the $400 offer. To receive the $800 offer, deposit at least $25,000 within the same timeframe. Maintain the required balance until the 60th day from account opening to receive the full bonus.

U.S. Bank Account Fees and Potential Waivers

Participation in this promotion may necessitate the opening of an account subject to a monthly fee. Accounts that fall under this category include:

• U.S. Bank Smartly® Checking

• U.S. Bank Gold Business Checking

• U.S. Bank Platinum Business Checking

Fortunately, fee waivers are available for all these accounts. However, it is advisable to ensure eligibility for fee waivers before embarking on the journey to earn the bonus. Despite the attractive incentives, potential fees ranging from $30 to $60 might be incurred during the process, slightly diminishing the overall value of the offer.

Waiving Monthly Fees for Your Accounts

If you’re considering a U.S. Bank Smartly® Checking account, it’s essential to note that it comes with a $6.95 monthly fee. However, there are several ways you can have this fee waived:

1. Monthly Direct Deposits: Ensure your combined monthly direct deposits total $1,000 or more.

2. Minimum Average Balance: Maintain a minimum average account balance of $1,500 or higher.

3. U.S. Bank Credit Card: Hold an eligible U.S. Bank credit card.

4. Smart Rewards™ Tiers: Qualify for one of the four Smart Rewards™ tiers - Primary, Plus, Premium, or Pinnacle.

5. Military Status: If you’re a member of the military, you can disclose this to have the fee waived.

6. Age Criteria: You’re eligible for fee waiver if you’re either 24 or younger or 65 and older.

Make sure to carefully review the terms and conditions associated with this account to ensure it aligns with your financial needs and preferences.

This account offers standard features provided by the bank, including online and mobile banking options, along with a U.S. Bank Visa® Debit Card.

Moving on to the U.S. Bank Gold Business Checking account, it comes with a $20 monthly fee. However, you can avoid this fee by fulfilling one of the following conditions:

1. U.S. Bank Payment Solutions Merchant Account

2. Average Collected Checking Balance: Maintain either a $10,000 average collected checking balance or a $25,000 average collected checking balance on the interest-bearing option.

3. Combined Average Collected Deposit Balances: Ensure you have $20,000 in combined average collected deposit balances or $50,000 in combined average collected balance on the interest-bearing option.

4. Combined Business Deposits and Credit Balances: Have $50,000 in combined average collected business deposits and outstanding business credit balances.

Lastly, the U.S. Bank Platinum Business Checking Account carries a $30 monthly service fee, the highest among the three. To avoid this fee, you must meet one of the following criteria:

1. Average Collected Checking Balance: Maintain a $25,000 average collected checking balance.

2. Combined Business Deposits and Credit Balances: Have $75,000 in combined average collected business deposits and outstanding business credit balances.

Are These Deals Suitable for You?

Opening a bank account solely for monetary gain isn’t typically advisable. However, if you’re in the market for a new banking partner, U.S. Bank might be worth considering.

Beyond just checking accounts, U.S. Bank offers a diverse array of financial products. Additionally, the bank provides access to physical branches, round-the-clock phone assistance, and an extensive online and mobile banking platform. Nonetheless, it’s worth noting that major banks often impose hefty fees, and U.S. Bank is no exception. There are free checking account options available in the market, some of which not only waive monthly maintenance fees but also accrue interest and offer cash incentives. Therefore, it’s prudent to explore offerings from various banks before determining the best fit for your financial needs.