How To Avoid US Bank’s Monthly Maintenance Fees

Don't pay fees that you can easily avoid.

As the fifth-largest bank in the country, Minnesota-based U.S. Bank has a lot of checking and savings accounts to choose from. Although the account features vary widely, one thing most have in common is a monthly fee you incur just for having the account. Add in other fees — like for using an out-of-network ATM or overdrawing your account — and the costs can add up.

The good news is, U.S. Bank’s monthly maintenance fees can be avoided for all but one account as long as you keep a certain amount of money in your accounts, open a credit account or schedule direct deposits each month. You might also qualify for a fee waiver based on age.

Use this guide to learn more about U.S. Bank fees — and more importantly, how to avoid them.

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What Are US Bank Checking Account Fees?

U.S Bank monthly checking account fees range from $4.95 to $24.95, depending on the account. But Student Checking customers bank for free as long as they use U.S. Bank ATMs and avoid overdrafts and fee-based services.

Although the Platinum account has the highest monthly maintenance fee, it’s the only listed checking account that pays interest.

Here’s a detailed look at U.S. Bank checking accounts and the fees associated with them. 

U.S. Bank Checking Accounts and Fees
Account Monthly Service Fee Out-of-Network ATM Fee Annual Percentage Yield
Easy Checking $6.95 $2.50 N/A
Gold Checking $14.95 First 2 transactions free; $2.50 afterward N/A
Platinum Checking $24.95 $0 0.01%
Student Checking $0 $2.50 N/A
Safe Debit $4.95 $2.50 N/A

See: US Bank Checking Account Review — Convenient Features and Extra Perks

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What Are US Bank Savings Account Fees?

U.S. Bank savings account fees are $10 or less — lower than checking account fees overall, and you won’t pay any monthly fee at all for three of the five accounts listed below. What you will pay with all of these savings accounts is a $15 excess withdrawal fee if you make more than six withdrawals per month.

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Most U.S. Bank savings accounts have tiered interest rates that pay higher rates for higher account balances. The Standard Savings Account is the exception — it pays the same rate regardless of how much you’ve saved.

U.S. Bank Savings Accounts and Fees
Account Monthly Maintenance Fee Excess Withdrawal Fee Annual Percentage Yield
Standard Savings Account $4 $15 0.01%
Platinum Select Money Market $0 $15 0.01%-0.05%
Package Money Market Savings Account $0 $15 0.01%-0.05%
Elite Money Market Savings Account $10 $15 0.01%-0.05%
Retirement Money Market Account $0 $15 0.01%-0.05%

Check Out: US Bank Savings Account Review — High Rates for Large Deposits

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How To Avoid US Bank Monthly Maintenance Fees

U.S. Bank’s monthly maintenance fees can cost you up to $25 depending on which account you have. But U.S. Bank gives you a number of ways to avoid paying them. Meeting minimum balance requirements can get your fee waived, as can receiving a certain number of qualifying direct deposits each month. You can also eliminate fees by combining U.S. Bank accounts. And in the case of two accounts, younger or older customers pay no monthly fee.

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Follow these tips to avoid paying U.S. Bank monthly maintenance fees:

1. Keep a Minimum Balance in Your Account

Maintaining a minimum account balance eliminates the monthly maintenance fee for these accounts:

Checking Accounts

  • Easy Checking: $1,500 average account balance
  • Platinum Checking: $25,000 combined personal and credit balances in U.S. Bank and U.S. Bancorp Investments accounts

Savings Accounts

  • Elite Money Market Account: $10,000 minimum daily ledger balance
  • Standard Savings Account: $300 minimum daily ledger balance or $1,000 average monthly collected balance

2. Use US Bank Credit Products

U.S. Bank will waive the monthly maintenance fee for your Gold Checking Account when you get a U.S. Bank credit card, a personal loan or a line of credit.

3. Combine Qualifying Deposits With Credit Balances

You won’t pay a monthly maintenance fee with either of the following accounts as long as you have qualifying combined deposits:

  • Easy Checking: $1,000 in combined direct deposits
  • Platinum Checking: $25,000 total combination of the following:
    • Deposits to U.S. Bank personal accounts
    • U.S. Bank credit balances
    • U.S. Bancorp Investment accounts

4. Meet Age Requirements

Two U.S. Bank accounts waive fees for customers who meet certain age criteria:

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  • Easy Checking: Fee waived for customers ages 65 and older
  • Standard Savings Account: Fee waived for customers under age 18

Visit Your Local Branch: What Are US Bank’s Hours?

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How To Avoid US Bank Overdraft Fees

Overdraft fees can take a big bite out of your account balance. Although U.S. Bank posts deposits before withdrawals prior to the cutoff each day, it charges $36 per item, up to four items per day, when your account balance dips below $0. In the event of a negative balance lasting seven or more days, you’ll be charged an additional $36 extended overdraft fee.

The most important step you can take to avoid overdraft fees is to track your spending and account balances carefully. It’s best to avoid playing “beat the bank” when it comes to covering upcoming withdrawals from your account, but in a pinch, you might avoid an overdraft if you can make a deposit on the same day the withdrawals are debited.

Here are more steps you can take:

1. Use Mobile Banking

The U.S. Bank mobile app has an Instant Balance feature that displays your balance on the first screen you see whenever you log into your U.S. Bank account. The app also makes deposits fast and easy — just photograph the front and back of your check and follow the prompts to complete the deposit. Up to $200 in cumulative daily deposits are instantly available.

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2. Take Advantage of Overdraft Protection

Overdraft Protection lets you link eligible U.S. Bank savings and credit accounts to your U.S. Bank checking account to cover overdrafts. You can link up to three accounts — U.S. Bank will automatically transfer funds from the linked account(s) to your checking account to prevent a negative balance. These are the accounts that qualify:

  • Savings and money market accounts
  • Credit card
  • Line of credit
  • Secondary checking account

There’s no fee for this service when the transfer comes from a deposit account. U.S. Bank charges a $12.50 transfer fee for overdraft protection transfers from a credit account, but the fee is reduced to $7.50 for Gold Checking accounts and is waived for Platinum Checking accounts.

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How To Avoid US Bank ATM Fees

U.S. Bank’s ATM network — you’ll see the U.S. Bank logo on network machines — has more than 13,000 locations, and you can use over 20,000 MoneyPass ATMs with no surcharges. When a surcharge-free ATM isn’t available, you can still avoid U.S. Bank ATM fees with these checking accounts:

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  • Platinum Checking: All non-U.S. Bank ATM surcharges waived
  • Gold Checking: Up to two free non-U.S. Bank ATM transactions each statement period
  • Student Checking: Up to four free non-U.S. Bank ATM transactions each statement period

Explore: US Bank Review — In-Branch to Google Home Banking Options

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How US Bank’s Account Fees Compare To Other Banks

Comparing bank fees can help you decide whether to leave your money where it is or move it to a different bank. Here’s a look at how U.S. Bank stacks up against its competitors.

Fees at U.S. Bank and Other Banks
Fee U.S. Bank Citibank Wells Fargo Bank of America Chase
Monthly Maintenance Up to $24.95 Up to $30 Up to $10 Up to $25 Up to $25
ATM Up to $2.50 Up to $2.50 Up to $2.50 Up to $2.50 $2.50
Overdraft $36 $34 $15-$35 $35 $34
Excess Transaction $15 No fee, but Citibank can restrict account access or transfer funds from another account if transaction limit is exceeded three times within 12 months $15 Up to $10 $5
Wire Transfer $20-$50 $15-$45 $15-$30 Varies $15-$50
International Debit Purchase 2%-3% of transaction amount 3% of transaction amount 3% of transaction amount 3% of transaction amount 3% of transaction amount

Find Out: What Is the US Bank Cashier’s Check Fee?

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Getting the Most Out of Your US Bank Account

Getting the most out of your U.S. Bank account starts with making sure you have the right account. For example, a 65-year-old customer who doesn’t need a lot of bells and whistles might be best off with the Easy Checking account that waives fees for anyone ages 65 and older.

Leveraging bank products beyond your U.S. Bank deposit accounts offers special benefits. Platinum Checking account holders get their $24.95-per-month fee waived with $25,000 in combined balances, and deposit accounts, credit card balances and U.S. Bancorp Investment accounts all count toward that goal. You can get your Gold Checking account monthly fee waived by opening a credit account.

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Bank Smart To Save On Fees

You’d be hard-pressed to find a large bank that doesn’t charge fees on its accounts, but the fact that U.S. Bank charges fees doesn’t mean you have to pay them. Make it a point to review your account periodically to see if you’re missing out on discounts. Don’t forget to compare your account to others the bank offers and consider whether opening a credit account or U.S. Bankcorp Investment account might provide you with additional opportunities to waive those costly fees.

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More on US Bank

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This content is not provided by U.S. Bank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by U.S. Bank.

Rates are subject to change. Information on accounts is accurate as of March 26, 2020. 

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About the Author

Daria Uhlig

Daria Uhlig is a personal finance, real estate and travel writer and editor with over 25 years of editorial experience, including past positions with The New York Times Co. and Oxford University Press, where she was a long-time contributor to The Oxford English Dictionary. Her work has been featured on The Motley Fool, MSN Money, AOL, Yahoo! Finance, CNBC and USA Today.

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