Pros Explained

• Extensive network of ATMs and physical locations: With more than 2,400 澳洲幸运5官方开奖结果体彩网: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 deposit𝓀 accounts and financial services. It might be a particularly 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 w𝔉ealth management services. Its personal accounts and 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 mont♓♔hly 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 to waive the $10 monthly maintenance fee, you’ll need to kඣeep a $10,000 minimum daily balance. The 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 maintenance fee. To open an account, there’s a minimum of $100 t👍o open or a $25 automatic deposit. While it’s advertised as a way to diversify your U.S. Bank investment portไfolio, 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 three requiremen♍ts:

• 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 met, 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 need $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 o✃verdraft protection.

As U.S. Bank has quite an extensive ne♋twork of ATMs in its MoneyPass network—more than 37,000—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官方开奖结果体彩网:credit score. 🍷Through TransUnion CreditView, you can see your current score and how it might change if𒆙 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 maintenan𝔍ce fee, and your first order of checks is free. Another nice perk is that 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 ꦑthe maturity date, you’ll be pegged with an early withdrawal penalty. U.S. Bank offers four types of CDs.

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

The early withdrawal penalties🐽 are th𒉰e 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 te✤rm, whichever is greater.

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six months through 12 months, it’s $25 plus either one-half of all the interest that would’ve been earned on the funds withdrawn for the entire term or 1% of the amount withdrawn, whi💫chever is greater.

And for accounts with a term that’s greater than one year? You’ll need to pony up $25 plus whichever is g♔reater: one-half of the interest that would’ve been earned on the fund✨s 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 raܫte 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’𝓰re eligible for a one-ti🔯me 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官方开奖结果体彩网: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. Bank 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官方开奖结果💖体彩网: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 ꧒robust range෴ of other offerings: 

• Car Loans
• Boat Loans 
• RV Loans 
• Personal Loans
• Business Loans  
• Mortgages
• 澳洲幸运5官方开奖结果体彩网:Mortgage Refinance
• 澳洲幸运5官方开奖结果体彩网: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 also landed the top spot in two major categories: cost of service, and seꦦcurity and chargeback management.

How to Bank With U.S. Bank

Opening 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 inf൩ormation. Got questions? Call and talk to a customer service rep. 

Methodology

Investopedia is dedicated to providing consumers with unbiased, comprehensive revi꧑ews of banks. We collected 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 for their savings and banking needs.