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U.S. Bank could be a good option if you live in the Midwest or West Coast and want to open a checking account at one of the national bank. But keep in mind the U.S. Bank Safe Debit account doesn’t waive monthly service fees, and U.S. Bank Smartly® Checking has a monthly service fee if you do not meet certain requirements.
U.S. Bank Checking Accounts
U.S. Bank Smartly® Checking review
U.S. Bank Smartly® Checking
Fees
$6.95 monthly service fee
Annual Percentage Yield (APY)
See site for details
Minimum Opening Deposit
$25
Bonus
up to $500 (earn up to $800 total if you qualify for both Smartly Checking and Standard Savings account offers)
- Low minimum opening deposit
- Several ways to waive monthly service fee
- Large ATM network
- No fee overdraft protection transfers from a linked deposit account
- $50 overdrawn Available Balance safety threshold and Overdraft Fee Forgiven program
- May enroll in U.S. Bank Smart Rewards® if you meet certain requirements
- $6.95 monthly service fee
- $2.50 out-of-network ATM fee
- $36 overdraft fee
- $12.50 overdraft protection transfer fee for transfers over $50 made from a linked credit account
Product Details
- Earn up to $800 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through March 12, 2024. Member FDIC.
- Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.
You might prefer U.S. Bank Smartly® Checking if you want access to paper checks or would like a checking account that makes it possible to waive monthly service fees and overdraft fees.
U.S. Bank Smartly® Checking automatically waives the monthly service fee if you’re a member of the military, under the age of 24, or over the age of 65. You can also waive the monthly service fee if you meet certain requirements each month. U.S. Bank Smartly® Checking notably has several ways to avoid overdraft fees, including free overdraft protection that lets you link your checking account to a savings account.
U.S. Bank Safe Debit account review
U.S. Bank Safe Debit account
Fees
$4.95 monthly service fee
Annual Percentage Yield (APY)
None
Minimum Opening Deposit
$25
- Low minimum opening deposit
- No overdraft fees
- $4.95 monthly service fee
- $2.50 out-of-network ATM fee
- Can’t overdraw from account
- Paper checks can’t be processed
Product Details
- Access to over 2,200 branches in 26 states
- Part of the MoneyPass ATM network, which has over 37,000 ATMs
- No paper checks with the Safe Debit account
- Member FDIC
The U.S. Bank Safe Debit account might be a decent option if you prioritize avoiding overdraft fees and don’t need paper checks. However, there’s a $4.95 monthly service fee that can’t be waived.
U.S. Bank Checking Account Review
U.S. Bank has over robust national presence, with over 2,200 branches in 26 states and 4,500 ATMs throughout the US. It repeatedly makes our list of the best banks as the best national bank in the Midwest and West Coast.
The bank has two checking accounts: U.S. Bank Safe Debit account and U.S. Bank Smartly® Checking. See how the two accounts compare below.
See Insider’s picks for the best checking accounts »
Is U.S. Bank Trustworthy?
U.S. Bank doesn’t have a Better Business Bureau rating right now because the BBB is in the process of updating the bank’s profile. The BBB reviews businesses based on how they handle customer issues and whether they have transparent business practices. A good BBB rating doesn’t necessarily mean that your relationship with a business will be perfect.
In 2022, U.S. Bank paid $37.5 million in a settlement with the Consumer Financial Protection Bureau. The CFPB accused the bank of obtaining customers’ credit reports and opening checking accounts, savings accounts, credit cards, and lines of credit without their knowledge.
Compare U.S. Bank Checking Accounts
U.S. Bank Checking Accounts vs. Chase Checking Accounts
Chase offers a greater variety of options, including checking accounts specifically suited for teens and college students. Meanwhile, U.S. Bank only has two checking accounts options, but the fees can be waived if you meet certain age requirements.
If you compare Chase Total Checking with U.S. Bank Smartly® Checking, minute differences between these accounts may help determine which one is a better option for you.
Chase Total Checking has a $12 monthly service fee, while U.S. Bank Smartly® Checking has a $6.95 monthly service fee.
To waive the monthly service fee for Chase Total Checking, you must receive $500 or more in direct deposits each month, have a daily account balance of $1,500 or more, or an average account balance of $5,000 or more between your checking accounts and any linked Chase accounts.
Meanwhile, U.S. Bank Smartly® Checking waives the monthly service fee if you meet certain group requirements, make combined direct deposits totaling $1,000 or more each month, maintain an average account balance of $1,500 or more each month, or own an eligible U.S. Bank credit card.
U.S. Bank Checking Accounts vs. Wells Fargo Checking Accounts
Wells Fargo has four types of checking accounts, including a checkless bank account similar to the U.S. Bank Safe Debit account.
When looking at each bank’s standard checking account options — U.S. Bank Smartly® Checking and the Wells Fargo Everyday Checking Account — you’ll want to pay close attention to how you can avoid monthly service fees and overdraft fees. This could help with narrowing down the more appealing option.
The U.S. Bank Smartly® Checking has a lower monthly service fee than the Wells Fargo Everyday Checking Account. However, it’s slightly easier to waive monthly service fees on Wells Fargo Everyday Checking Account than U.S. Bank Smartly® Checking.
To waive the fee at Wells Fargo, you need to maintain a $500 minimum daily balance, receive a total of $500 or more in direct deposits, or have a linked Wells Fargo Campus ATM card or Debit Card. If you’re between the age of 17 and 24 you’ll also be able to automatically waive monthly service fees on Wells Fargo Everyday Checking Account.
Frequently Asked Questions about U.S. Bank Personal Checking
U.S. Bank does not have a free checking account, but you can waive monthly service fees on U.S. Bank Smartly® Checking.
The monthly service fee is automatically waived if you’re a member of the military, under the age of 24, or over the age of 65. If you aren’t part of one of these groups, you can waive the fee by making combined direct deposits totaling $1,000 or more each month, maintaining an average account balance of $1,500 or more each month, or owning an eligible U.S. Bank credit card.
You’ll need at least $25 to open a checking account at U.S. Bank.
If you use an out-of-network ATM, U.S. Bank generally charges $2.50 per transaction.
