US Bank Review: Accessible Customer Service and Checking Account Options

GOBankingRates Score

US Bank
GOBankingRates Best Banks 2023 scores and rankings are objectively determined by our research/editorial team. Our scoring formula weighs several factors that differ from category to category depending on what consumers want from varying products and banks.
Quick Take: U.S. Bank is a good option if you're looking for an all-in-one banking experience. It offers most account types, but it lags many other banks when it comes to annual percentage yields.
  • Checking Accounts
  • Savings Account
  • CD Accounts
  • Money Market Account
  • Banking Experience
How did we calculate this?


  • 24/7 customer service
  • More than 2,000 branches in 26 states
  • Variety of checking account options


  • Low APYs
  • Can get better savings rates elsewhere
  • Monthly checking account fees unless the minimum requirement is met

US Bank Overview

U.S. Bank is part of U.S. Bancorp and ranks as the fifth-largest bank in the United States, with more than 2,000 branches in 26 states. It offers a number of products and services to meet the banking needs of personal and business customers, including everything from checking and savings accounts to wealth management services. In addition to its large branch network, U.S. Bank also has a comprehensive digital banking platform.

U.S. Bank is worth considering if you’re looking for a one-stop shop for all your money management needs. GOBankingRates named U.S. Bank as one of the Best National Banks of 2024.

US Bank Review

As one of America’s largest banks, U.S. Bank offers a full range of deposit accounts. It’s checking and CD accounts are specially notable.

Checking Accounts

U.S. Bank has two checking options. The first is U.S. Bank Smartly Checking, which offers essential banking services, automated spending and savings tools plus access to Smart Rewards.

U.S. Bank’s overdraft fee is steep at $36, and it charges $12.50 for overdraft protection transfers from a linked account. However, if you overdraw your account by $50 or less, U.S. Bank will waive the transfer fee. U.S. Bank will waive your overdraft fee if you overdraw your account by more than $50 but make a qualifying deposit by 11 p.m. on the day U.S. Bank charges the fee.

Smartly Checking charges a $6.95 monthly fee. To waive it, you’ll need an average account balance of at least $1,500, a qualifying U.S. Bank credit card or monthly direct deposits of at least $1,000. The fee is automatically waived for current and former members of the military and customers ages 18 to 24 and age 65 and older.

Direct deposits are one area where U.S. Bank eliminates a major obstacle to switching banks. If you currently have direct deposit at another bank and have access to your employee payroll account, you can switch your direct deposits to Smartly Checking yourself, in just a few minutes online, with no payroll forms to fill out.

U.S. Bank’s second checking account option is Safe Debit, a checkless account that lets you receive direct deposits and pay bills. It has no overdraft fees, but there’s no option for waiving the $4.95 monthly maintenance fee.

Savings Account

U.S. Bank offers a single standard savings account that you can open with a $25 minimum deposit. The $4 monthly service fee can be waived with a $300 minimum daily ledger balance or a $1,000 average monthly collected balance. The fee does not apply when an adult holds the account with an individual age 12 or under. The APY for this account is a low .

CD Accounts

If you’re looking for a better return on your money, then check out U.S. Bank’s certificates of deposit. It offers four versions: Standard CDs, Step Up CDs, Trade Up CDs and high-yield CD Specials. The minimum deposit for the Standard CD is $500, while the minimum for the others is $1,000. 

Regular CDs come in terms of one month to five years. APYs range from to , with the higher balances earning the better rate, but it’s still just a fraction of what you can earn with a CD special. With the Step Up CD, the interest rate rises every seven months during the 28-month term.

The Trade Up CD lets you lock in a higher rate once during your initial term. The APY for the Trade Up CD ranges depending on the balance and depending on the term.

Money Market Account

U.S. Bank’s money market account is called the Elite Money Market Account, which can earn a much higher yield than the savings account — up to APY. However, that rate only applies to new U.S. Bank money market clients and those who have had a U.S. Bank money market account for fewer than 30 days. While you can open an Elite Money Market Account with just $100, you’ll have to deposit at least $25,000 within 30 days after opening the account to earn the highest rate.

While 4.50% is an excellent rate, it’s important to note that you’ll have to maintain a $25,000 balance to keep it. Should your account dip below that, the account reverts to the standard rate, which is 0.01% for balances under $25,000.

Banking Experience

GOBankingRates has named U.S. Bank one of its Top National Banks of 2024. With thousands of branches and ATMs, US Bank is both convenient and accessible. It also offers around-the-clock customer service.

Mobile Banking Experience

Another strength of U.S. Bank is its cutting-edge banking technology. In addition to advanced facial and fingerprint authentication on its mobile apps, U.S. Bank offers voice banking via Alexa, Siri and Google Home. The bank’s iOS and Android apps are popular, receiving a 4.8 rating on the App Store and 4.7 stars on Google Play. U.S. Bank also offers online and mobile banking options that let you make mobile deposits, send money through Zelle, pay bills and transfer money.

Customer Service

One of U.S. Bank’s strengths is in its customer service. You can reach the bank 24/7 at 800-USBANKS (872-2657). To schedule a phone or in-person appointment with a banker, call 800-685-5035.

US Bank vs. Competitors

When you’re looking for the right bank to fit your needs, it’s helpful to evaluate several to see how their products and services compare. Here’s a look at how U.S. Bank measures up to three of its top competitors.

US Bank vs. Chase

Chase has more ATMs and branches than U.S. Bank, with over 4,700 locations. U.S. Bank has slightly higher CD yields and offers many of the same services as Chase.

US Bank vs. Bank of America

Bank of America has a much wider service area than U.S. Bank, with branches available across the country. U.S. Bank gets the edge with 24/7 customer service by phone, which Bank of America does not offer.

US Bank vs. Wells Fargo

Wells Fargo has a higher fee on its standard checking account, but it’s easier to waive. U.S. Bank has lower minimums for some accounts, such as its line of CDs. 

Final Take

U.S. Bank is good for customers who want free use of a wide variety of ATMs and accessible customer service, and don’t want to run a high risk of overdraft fees. Like most national banks, U.S. Bank has a host of monthly maintenance and service fees, but most of those can be avoided. U.S. Bank’s strength is the breadth and quality of its products and services which are first-rate. However, customers who want a completely fee-free experience with high APYs might be happier with an online bank.


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Here are the answers to some commonly asked questions about U.S. Bank.
  • Is U.S. Bank a good bank to use?
    • GOBankingRates has rated U.S. Bank 4.3 stars out of 5 stars which is based on overall banking experience, as well as checking, savings, money market and CD accounts. U.S. Bank is good for customers who want a variety of account options, convenient locations and highly rated mobile banking apps.
  • What are the disadvantages of U.S. Bank?
    • U.S. Bank offers fewer options within account types than competing banks, and it has lower-than-average savings rates and has monthly fees on checking and savings. However, most fees can be waived by maintaining the required minimum balance for the account.
  • Which U.S. Bank has the best reputation?
    • U.S. Bank is one of GOBankingRates' Best National Banks of 2024. The winner of GOBankingRates' Best National Banks of 2024 ranking is Capital One.
  • What kind of rating does U.S. Bank have?
    • GOBankingRates has rated U.S. Bank 4.3 stars out of 5 stars. Its mobile app has a rating of 4.8 stars on the App Store and 4.7 stars on Google Play.

Daria Uhlig, Caitlyn Moorhead and John Csiszar contributed to the reporting for this article.

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 22, 2023.

Editorial Note: 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.

To discover the Best National Banks, GOBankingRates looked at the top national institutions (excluding online banks and neobanks) that have branches in 25-plus states and/or over $400 billion in total assets. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage based on the minimum to avoid the fee compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple app stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighted 0.5 times; factor (5) was weighted 2.5 times; and factor (7) was weighted 1.5 times.

Methodology: GOBankingRates surveyed 1,063 Americans aged 18 and older from across the country between November 27 and November 29, 2023, asking twenty-two different questions: (1) What category best describes your current financial institution?; (2) Have you considered changing Banks within the past year?; (3) If you have considered changing banks in the past year, were any of the following factors? (select all that apply); (4) Which feature, perk, or other offering is most important to you when opening an account with a new institution?; (5) Are you currently satisfied with all your banking products and services offered by your Bank/Credit Union?; (6) Would you ever have different types of accounts across multiple banks? (i.e. Checking at Chase, but Savings at TD Bank); (7) What is your most preferred method of banking?; (8) Which of the following is the biggest factor of you staying with your current bank?; (9) Which of the following bank accounts do you currently use/have open? (Select all that apply); (10) How much is the minimum balance you keep in your Checking Account?; (11) How much do you currently have in your Savings Account?; (12) What amount of a sign up bonus would make you consider switching banks?; (13) Have you considered using any app-only banking platforms (aka neobanks) in the past year (e.g. Current, Chime, Dave, etc.); (14) How important is it to you for your bank to be affiliated with a crypto exchange/platform?; (15) In the past year how often have you written a physical check?; (16) When was the last time you visited your bank in-person?; (17) Why would you choose to visit your bank in-person? (Select all that apply); (18) Have you had an overdraft on your checking account in the past year?; (19) How much do you trust your current bank to act in your best interest?; (20) How much do you trust your current bank to protect your private information?; (21) Do you trust regional banks more than national banks?; and (22) How much cash do you keep at home?. GOBankingRates used PureSpectrum’s survey platform to conduct the poll.

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