US Bank Checking Account Review: Convenient Features and Extra Perks
See which U.S. Bank checking account option is right for you.There are few — if any — financial products that you stand to interact with more frequently than your checking account, so it’s important to get one that’s tailored to your specific needs. That’s one reason why U.S. Bank offers seven different options for its checking accounts, each with different benefits and downsides, to meet the demands of a wide variety of different consumers, who can also set up a savings account.
Here’s a closer look at all the different options U.S. Bank has for opening a checking account, including the fees you might have to pay and the interest rate you’ll earn on your money.
US Bank Checking Account Options
The checking accounts offered by U.S. Bank are organized into three categories: “more ways to save,” “interest and extra perks” and “just the basics.” The checking account options break down as follows:
More Ways to Save
- Silver Checking Package
- Gold Checking Package
Interest and Extra Perks
- Platinum Checking Package
- Premium Checking Package
Just the Basics
- Easy Checking
- Student Checking Package
- Safe Debit Account
All the options come with certain basics, including a U.S. Bank Visa Debit Card, no-fee transactions at U.S. Bank ATMs, mobile check deposit and online/mobile banking options. Likewise, the $36 overdraft fee is consistent throughout but can be avoided when you link your checking account to a savings account, an eligible line of credit or credit card that can backstop your checking account. Finally, there is a $2.50 fee assessed for ATM withdrawals from non-U.S. Bank ATMs, but certain accounts do offer options that waive this fee.
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Silver Checking Package
The Silver Checking Package has a $6.95 monthly maintenance fee, but that fee will be waived by pairing it with a Package Money Market Savings Account — which is only available to Silver and Gold Checking Package customers — and maintaining a combined account balance of at least $1,500 or combined monthly direct deposits of $1,000 or more. You can also get up to $100 in rewards for hitting your savings goals or making gas and grocery store purchases on your debit card through U.S. Bank’s START Smart Savings Program.
Gold Checking Package
The Gold Checking Package carries a monthly maintenance fee of $14.95, but that fee will be waived if you also open a U.S. Bank loan — personal, auto and home equity will all work — or credit card.
If you opt to open a credit card, you’ll have 30 U.S. Bank credit cards to choose from, including the Cash + Visa Signature Card, FlexPerks and Travel Rewards Visa Signature Card.
The Gold Checking Package requires a minimum opening deposit of $25.
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Platinum Checking Package
Platinum Checking offers interest on deposits that vary by date and location. The monthly maintenance fee is $24.95, but that can be waived if you have a total of $25,000 or more in deposits across a range of personal and investment accounts or a personal trust relationship with U.S. Bank Wealth Management. There’s a $25 minimum opening deposit.
You’ll also have exclusive access to a home equity line of credit without an annual fee, a wider range of credit cards with better rewards and 25 free trades when you open an account through U.S. Bancorp Investments.
Premium Checking Package
One of the most intriguing benefits offered by U.S. Bank’s Premium Checking Package is the ability to forego U.S. Bank ATM fees when using non-U.S. Bank ATMs, but it also offers interest on deposits. There is a $10.95 monthly maintenance fee that’s waived for individuals 65 and older or customers with an average account balance of $5,000 or more. You can also get copies of checks and paper statements without paying fees and access to a safe deposit box for half off the annual fee.
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Student Checking Package
One of the most notable features of the Student Checking Account is the absence of any monthly maintenance fee. There is a minimum opening deposit of $25, and you also get four free ATM transactions per statement period at non-U.S. Bank ATMs. Finally, you get a 50 percent discount on your choice of personalized designs for your first order of checks.
Safe Debit Account
The Safe Debit Account offers discounted money orders that can help you avoid the high fees normally associated with these sort of money transfers. You also get access to the TransUnion CreditViewTM Dashboard through your online banking app. This allows you to see your VantageScore 3.0 credit score and ranking, use Score Simulator to see an estimated credit score based on actions you’re considering and find helpful resources for educating yourself about your credit score.
The account does have a $4.95 monthly maintenance that, unlike the other U.S. Bank offerings, can’t be waived.
Easy Checking
Easy Checking is clearly intended as a simple, no-frills checking account and comes with all the basics. There is a $6.95 monthly maintenance fee that can be waived for customers with combined monthly direct deposits of $1,000 or more or an average account balance of $1,500 and up.
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