U.S. Bank Business Checking Account Review 2024

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U.S. Bank business checking review: pros and cons

U.S. Bank Silver Business Checking Package

The U.S. Bank Silver Business Checking Package is the bank’s strongest business checking account. It has zero monthly bank maintenace fees.

This account might not be the best choice if you plan on making more than 125 transactions per month or you send frequent wire transfers. U.S. Bank charges a fee for exceeding the account’s monthly transaction limit or sending wire transfers domestically and internationally.

U.S. Bank Gold Business Checking Package

The U.S. Bank Gold Business Checking Package is a step up from the U.S. Bank Silver Business Checking Package. Each month, the Gold Business Checking Account allows you to make 300 free transactions, and deposit  $10,000 or make 100 free cash transactions.

With this account, you’ll want to be mindful of the $20 monthly service fee. The monthly fee may only be waived if you keep a certain amount in your checking account or across U.S. Bank business bank accounts.

U.S. Bank Platinum Business Checking Package

The U.S. Bank Platinum Business Checking Package might be a decent choice if you regularly make up to 500 transactions per month and maintain a high account balance. Otherwise, you might have to deal with monthly service fees or excess transaction fees.

How U.S. Bank works

US Bank has more than 2,200 branches across 26 states. Locations are available in: 

• Arkansas
• California
• Colorado
• Idaho
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky
• Minnesota
• Missouri
• Montana
• Nebraska
• Nevada
• New Mexico
• North Carolina
• North Dakota
• Ohio
• Oregon
• South Carolina
• South Dakota
• Tennessee
• Texas
• Utah
• Washington
• Wisconsin 
• Wyoming

The bank offers ATMs across 40 states and is part of the MoneyPass ATM Network, which provides access to over 37,000 ATMs.

If you have questions about bank products or services, visit the FAQ page on the bank’s website. Customer service representatives are also available over the phone 24/7.

The bank’s mobile app received 4.7 out of 5 stars in the Google Play Store. In the Apple Store, it has 4.8 out of 5 stars.

U.S. Bank is FDIC insured. Up to $250,000 is protected in an individual account, and $500,000 is secure in a joint bank account. 

U.S. Bank trustworthiness and BBB rating

U.S. Bank does not have a rating from the Better Business Bureau right now because the BBB is updating the bank’s profile. The BBB rates businesses on how they handle customer issues and whether they have transparent business practices.

In 2022, U.S. Bank paid $37.5 million in a settlement with the Consumer Financial Protection Bureau. The CFPB claimed that the bank opened consumer bank accounts, lines of credit, and credit cards without informing customers.

U.S. Bank vs. Axos

We’ve compared the U.S. Bank Silver Business Checking Package to another free business checking account: the Axos Basic Business Checking Account.

You’ll favor the Axos Bank Basic Business Checking Account if you plan to make more than 125 transactions per month.

The Axos Bank Basic Business Checking Account also might be a better option for avoiding ATM fees and domestic wire transfer fees. The Axos checking account lets you make two free domestic wire transfers per month and provides unlimited domestic ATM fee reimbursements.

Both banks offer cash bonuses when you open a business checking account right now. At US Bank, you can get up to $800 bonus on a US Bank Silver, Gold, or Platinum Business Checking Account. Get $350 bonus by depositing $5,000 into an account during the first 30 days of account opening and maintain your balance for 60 days. Get $800 by depositing $25,000 into an account during the first 30 days of account opening and maintain your balance for 60 days.

Axos Bank has a bonus of up to $400. You must open a new business bank account using the promo code “NEW400” by January 31, 2023, and $100 will be earned for each statement cycle during which the average daily balance in your account must be at a minimum $50,000 or greater. You will also have completed ten point-of-sale transactions per month using your Small Business Checking Visa® Debit Card for signature-based purchases with a minimum of $3 per transaction and have bill pay set up and connected to your account. The bill pay transaction minimum is $10. A maximum of four payouts can be earned during the five statement cycles and the bonus will be deposited into your Small Business Checking account within 10 business days following the end of the statement cycle in which the balance requirement was met.  

U.S. Bank vs. NBKC 

U.S. Bank and NBKC both have free business checking accounts that are available throughout the US. See how the two banks compare.

NBKC will likely be more appealing if you’re searching for a hassle-free business checking account. The NBKC Business Checking Account stands out because there’s no limit on monthly transactions, and you may open an account with $0.

If you would like to earn a cash bonus when opening a business checking account, you might lean more toward U.S. Bank. NBKC doesn’t have any business checking account bonuses right now.

Frequently asked questions