Just about every bank and credit union provides a checking account option, but this doesn’t mean every checking account is the same. If you’re not happy with your present bank and are shopping for a new checking account, U.S. Bank offers six checking products to meet a range of customers’ needs.
You deserve a bank that knows exactly what its customers want in checking and provides accounts to match. Some people prefer a basic checking account, whereas others want a checking account with unique services and features. Between its six checking account options, U.S. Bank can provide a product to meet your expectations. Check out the following benefits of each U.S. Bank checking account to decide which one is right for you.
Review of U.S. Bank Checking Account Features
U.S. Bank offers six checking accounts and while each carries different benefits and costs, they also share several basic features with that make managing your money simpler. Every U.S. Bank checking account comes with the following benefits:
- Online and mobile banking, which let you manage your account using a computer or mobile device from any location 24/7.
- Email or text alerts so you’ll stay up-to-date on your account balance and never miss another due date.
- Free U.S. Bank check card which can be used to pay wherever Visa is accepted around the world.
- Wide service area with access to more than 3,000 U.S. Bank branches and 5,300 ATMs.
Checking account monthly maintenance fees range from $6.95 to $19.95, but U.S. Bank waives these fees when certain requirements are met.
6 Checking Accounts from U.S. Bank
1. Easy Checking Account
Easy Checking is ideal if you prefer simplicity and are looking for a basic checking account to manage your money and pay bills. Easy Checking accountholders will get all of the above-mentioned checking account benefits. The U.S. Bank Easy Checking account does carry a monthly fee of up to $8.95, though this is lowered to $6.95 when a depositor enrolls in e-statements. The monthly maintenance fee is waived with either monthly direct deposits totaling $1,000 or more, or a minimum average balance of $1,500.
2. Silver Checking Package
With the bank’s Silver Checking package, a checking account can be opened with a linked Package Money Market Savings account. Silver Checking accountholders can access the bank’s Savings Today and Rewards Tomorrow (S.T.A.R.T) savings program, which rewards savers with up to $100 when they save $1,000 or more and maintain a balance of at least $1,000 in their money market accounts for more than a year. Silver Checking also comes with discounted rates on auto loans, home equity loans or lines of credit, and personal loans.
This checking account’s monthly fee structure is nearly identical to that of the Easy Checking, though the $1,500 minimum balance requirement to waive the fee is based off the combined balance of both the Silver Checking and the linked money market account.
3. Gold Checking Package
If you’re tired of monthly maintenance fees and in the market for a line of credit, open a Gold Checking. U.S. Bank will waive the $10.95 monthly maintenance fee ($12.95 with paper statements) if you have a U.S. Bank personal loan, credit line or credit card. You’ll also enjoy discounted rates on new loans, lower overdraft fees with enrollment in overdraft protection ($7.50 as opposed to $12.50), plus the option to open a Package Money Market Savings account and take advantage of the S.T.A.R.T. savings program.
4. Platinum Checking Package
A savings account isn’t the only option to earn interest on deposits. The Platinum Checking package with U.S. Bank is an interest-bearing checking account with a rate of up to 0.05% APY, comparable to rates offered on savings accounts at many major banks. Other features unique to the U.S. Bank Platinum Checking account include unlimited free transactions at non-U.S. Bank ATMs, no fees for overdraft protection, discounts on safe deposit boxes, and 25 free trades if you open a self-directed brokerage account through a U.S. Bank affiliate.
Platinum Checking also comes with many account benefits like free checks and money orders, discounts on mortgages and refinances, and discounted rates on auto loans, home equity loans or lines of credit, and personal loans. The Platinum Checking carries a higher monthly fee of $17.95 ($19.95 with paper statements), however, along with a steep minimum balance requirement of $25,000 in combined personal deposits, investments and credit balances to waive the fee. Alternately, an accountholder’s fee will be waived if he has a relationship with U.S. Bank Trust Services.
5. Premium Checking Account
This is an interest-bearing checking account with tiered interest rates: balances up to $9,999 earn interest at 0.01% APY, while balances of $10,000 or more earn a higher 0.05% APY. Bonus features of U.S. Bank’s Premier Checking account include free cashier’s checks, free traveler’s checks and free book of U.S. Bank checks. Accountholders also receive a 50 percent discount on safe deposit boxes and unlimited free transactions at non-US Bank ATMs. There’s no monthly maintenance fee ($10.95, or $12.95 with paper statements) if you’re over the age of 65 or maintain an average balance of $5,000 in the account.
6. Student Checking Account
Opening a checking account at a young age gives you the power to control your personal finances and learn good money management skills early. U.S. Bank offers a student checking account with no monthly maintenance fees or minimum balance requirements for those in high school, college, or a technical or trade school. Students enjoy free online statements, one free order of checks, and they can make four fee-free non-U.S. Bank ATM transactions each statement period. These benefits made the U.S. Bank Student Checking account GOBankingRates’ top pick for a first bank account.
How to Open a U.S. Bank Checking Account
To get started, visit U.S. Bank’s website and choose the checking account that’s right for you. You must be at least 18 years old and a legal resident of the United States to complete an application. Before applying, make sure you have your social security number and a government-approved ID, such as your driver’s license.
Photo credit: Kevin Wong