U.S. Bank Overview

Founded in 1863, U.S. Bank is one of America’s largest banks. It offers a full suite of personal finance products, including its Bank Smartly® Checking and Safe Debit checking accounts. As well as boasting a large network of ATMs, the bank offers a selection of cutting-edge digital tools. On top of this, there are numerous options for fee waivers, which could make U.S. Bank a great choice if you’re looking for a low-cost checking account.

U.S. Bank at a Glance

Suitable For?

With 2 checking accounts available, U.S. Bank should offer an attractive solution for most customers. For instance, its Bank Smartly® Checking account allows you to receive interest on your deposits and join its free reward program.

Meanwhile, its Safe Debit Account doesn’t charge overdraft fees or allow you to write checks. This could make it a good choice if you’re opening an account with a minor or someone with a poor financial history.

With the Ethisphere Institute naming it one of the world’s most ethical companies, U.S. Bank could also appeal to those who value socially responsible business practices.

However, the bank may not be suitable for residents of every state since you need to live within 50 miles of a branch to apply.

Features/Highlights

Advantages over traditional banks

Like most large banks, U.S. Bank charges monthly fees and potentially hefty overdraft charges. However, there are numerous (fairly straightforward) ways in which you could avoid these fees and benefit from low-cost banking. You can learn more about fee waiver options below.

Cutting-edge banking services

One of U.S. Bank’s most impressive features is undoubtedly its wide selection of innovative tech solutions.

For instance, its Smart Assistant is a voice-powered virtual assistant that can handle a range of requests, such as transferring funds, paying bills, and providing information about your account.

The bank allows you to connect your accounts with other financial institutions to your online banking platform or app, so you can see your balances in a single place and have a clear overview of your financial position.

If you download the U.S. Bank app, you can also quickly send and receive money to and from friends and family through the money transfer app Zelle. Once you’ve entered the recipient’s email address and phone number, they should receive their cash within minutes.

Traditional banking services

As well as its tech-based offerings, the bank also includes the key services customers would expect from a checking account.

All accounts include a U.S. Bank Visa debit card, which has a contactless payment option. Additionally, the bank is a member of the MoneyPass network, which means you can use your card at approximately 40,000 ATMs across the United States.

If you open a Bank Smartly® Checking account, you can join the bank’s tiered Smart Rewards® program. This offers a range of perks, including interest on deposits and reduced closing costs on mortgages.

Interest rates and fees

If you open a checking account, the following fees apply.

If you add Smart Rewards to your Bank Smartly® Checking account, you’ll qualify for interest on deposits at the following rates:

Waive fees on Bank Smartly® Checking accounts

While U.S. Bank charges a $6.95 monthly fee on its Bank Smartly® accounts, it waives this charge if you meet any of the following criteria:

• You’re a member of the military
• You’re under the age of 24 or over 65
• You have a total of $1,000 or more in direct deposits per month
• You maintain a minimum average balance of $1,000 or more
• You’re a holder of an eligible U.S. Bank credit card

Avoiding overdraft fees

The bank’s overdraft protection service allows you to link your checking account to another U.S. Bank account, including credit cards and home equity lines of credit. If you go overdrawn, the bank automatically transfers funds into your checking account, and you won’t need to pay any penalties.

Under its Overdraft Fee Forgiven feature, U.S. Bank won’t charge you a fee if your account is overdrawn by $50 or less at the close of the business day. If you’re overdrawn by more than $50, you’ll need to return your balance to zero by 11pm (ET) to avoid a fee.

Customer service and online experience

You can contact the bank through its 24/7 phone line, in-branch, or by arranging a virtual appointment with a banker. Once you’ve opened an account, you can use the live chat feature from the online portal or mobile app.

The website also has a helpful knowledge center and online demos, which should answer most of your questions about account management. On top of this, the bank offers excellent educational resources on topics such as credit scores and retirement savings.

At present, U.S. Bank has a rating of only 1.3 out of 5 on Trustpilot. Users who rated the bank highly reported knowledgeable representatives and efficient responses in dealing with queries. Meanwhile, dissatisfied customer reviews complained of difficulties in claiming rewards and poor customer service.

In contrast, the bank’s app has largely positive reviews, scoring 4.8 out of 5 on the App Store and 4.7 out of 5 on Google Play. Many reviewers spoke enthusiastically about the ease of transferring funds and the convenience of viewing their accounts in a single location.

U.S. Bank has been ranked highest in customer satisfaction in California by J.D. Power for the fourth consecutive year (2024). This recognition follows the bank's acquisition of MUFG Union Bank, which added over 1 million consumer and 190,000 small business clients. The J.D. Power study evaluates trust, service, digital channels, and more. U.S. Bank's commitment to customer-centric service, digital innovation, and community investment has significantly improved its standing in the state ( Personal banking from U.S. Bank ).

Mobile app

You can download the app from the App Store or Google Play. It allows you to:

• View accounts and balances
• Pay bills
• Deposit checks
• Send and request money through Zelle
• Receive alerts on suspicious activity and low balances
• Lock and unlock cards
• Review monthly spending across key categories
• Add cards to your mobile wallet
• Transfer funds between U.S. Bank accounts

Overall, the app has a clear, user-friendly interface with helpful shortcuts for key banking tools. Likewise, many of its reviews praise the ease and convenience of its mobile check deposit feature.

You can learn more in this video .

Security

As well as using 128-bit encryption on its site, the bank allows you to add 2-factor authentication to your online account, which sends a 1-time passcode to your email address or phone whenever you log on. If you’re an app user, you can add facial recognition and fingerprint ID to your account.

U.S. Bank also has a dedicated fraud team, which will investigate any suspicious activity on your account. Furthermore, its zero liability program means that you won’t suffer any financial losses if you’re the victim of fraud (some terms and conditions apply).

As U.S. Bank is a member of the Federal Deposit Insurance Corporation (FDIC) program, any funds in your account will also be insured up to the value of $250,000. This is a government-backed initiative to compensate customers should a financial institution fail.

Application Process

You can open an account online, over the phone, or in a branch. Overall, the online application process takes less than 5 minutes. You’ll need to provide:

• Your social security number
• Proof of address
• A valid government-issued ID

Note that U.S. Bank requires a minimum opening deposit of $25 on its checking accounts.

U.S. Bank Summary

If you’re keen to earn rewards and access a wide network of ATMs, U.S. Bank could be a great solution. Likewise, its impressive array of digital tools, such as its free virtual assistant, could make it particularly appealing if you prefer to manage your finances online. And while the bank has some lackluster ratings on Trustpilot, its app is highly rated on Google Play and the App Store.

Physical Address

800 Nicollet Mall, Minneapolis, MN 55402

Disclaimer

U.S. Bank is not responsible for and does not guarantee the products, services or performance of U.S. Bancorp Investments, Inc.

The U.S. Bank does not offer insurance products. Insurance products are available through our affiliate U.S. Bancorp Investments.

Mortgage, home equity and credit products are offered by the U.S. Bank National Association. Deposit products are offered by the U.S. Bank National Association. Member FDIC.

The creditor and issuer of U.S. Bank credit cards is U.S. Bank National Association, pursuant to separate licenses from Visa U.S.A. Inc., MasterCard International Inc. and American Express. American Express is a federally registered service mark of American Express.