U.S. Bank should appeal to most customers looking for an established, reliable bank that offers a wide variety of accounts and services. It could be an ideal choice if you:
- Are you looking for a variety of ways to store your cash in the form of a CD
- Are you within the West or Midwest and would prefer to set your feet in a physical space
- You can choose from a variety of deposit accounts and other services
- Set up different types of accounts, or use the financial services of one bank
What Does U.S. Bank Offer?
Since U.S. Bank is one of the biggest banks in the United States, it offers an extensive selection of bank accounts, financial services, and financial products. Additionally, it offers products and accounts for business and services for managing wealth. Personal products and accounts include
- Savings Accounts
- Checking Accounts
- Money Market Accounts
- CDs
- Credit Cards
- Savings Accounts
U.S. Bank offers a total of five savings accounts. These are the specifics of each. For those with low balances and may have just opened their very first savings accounts, Standard Savings features a low $4 maintenance fee per month. To be eligible for a fee-free account, it is necessary to meet at least one of these requirements:
- $300 per day minimum balance
- $1,000 monthly average balance
Don't expect to make a huge amount of interest by putting your money within the U.S. The savings accounts of the Bank. The annual percentage yield is only 0.1 percent, regardless of the balance. If you're in possession of an account with the Platinum Checking Plan, then you're eligible to create an account.
Checking Accounts
U.S. Bank also offers five checking accounts. Here's what you should be aware of. U.S. Bank's Easy Checking Account is basic. If you're planning to apply to borrow money through U.S. Bank, with an account for checking, you'll get access to special rates for personal loans, auto loans, and line of credit for home equity. There's a monthly fee for maintenance of $6.95, and it can be waived when you meet one of the following criteria:
- Direct deposits for the month of each month that total the minimum of $1,000
- A typical balance on the account is $1,500
- Are 65 and up
There's a $2.50 ATM fee, and the paper statement fee is $2, which is waived if you're in eStatements and are over 65. The Safe Debit Account is U.S. Bank's take on a pre-paid debit card. Safe Debit Account Safe Debit Account offers more features than an ordinary debit card. For example, mobile or online banking and the possibility of making a check deposit via mobile.
You'll need to pay $25 to establish an account. There's a $4.95 monthly maintenance charge which isn't refundable. There are restrictions. In particular, the other accounts can't be connected to this account for protection against overdrafts. Because U.S. Bank has quite an extensive ATM network within its MoneyPass network -- more than 37,000 --, you won't be charged an additional fee. However, in the event of ATM withdrawals that aren't part of the network, there's an additional $2.50 cost.
U.S. Bank also offers the option of a credit score for free. With TransUnion CreditView, you can assess your credit score right now and the potential changes depending on your actions, in addition to having access to various sources. This is among U.S. Bank's top checking accounts. Its Gold Checking Package is worth considering, particularly if you are planning to open the possibility of a U.S. Bank loan or credit card shortly. The fee will be removed if your checking account is connected to a different U.S. Bank deposit account and you are a member of the Overdraft Protection Program. You'll be reimbursed for charges on the first two ATM fees.
Banking Experience
U.S. Bank shines when it comes to accessibility and access. Along with its numerous ATMs and branches, customer support is available 24/7 via telephone and at extended daily hours via social media. Its iOS and Android mobile apps permit depositing checks, transfer of funds between accounts, and payments made from person to person through Zelle. The apps have received positive reviews.
Overdraft Fees
U.S. Bank charges a costly $36 per transaction for overdrafts exceeding $5. This fee is at least four times daily (for all combinations of paid overdrafts and return transactions). If you make a mistake, it is easy to dig yourself into a pit. If your balance is less than zero for one month, U.S. Bank charges an overdraft charge of $36 for the 8th day you have a negative balance. A few banks charge this cost; however, some banks allow free transfer of funds to an account linked to it; however, U.S. Bank charges for this service.
