U.S. Bank Promotions

Open new U.S. Bank personal accounts to earn hundreds of dollars

By Lindsay VanSomeren
Updated September 19, 2023
Reviewed by
Michael J Boyle
Michael Boyle
Reviewed by Michael J Boyle
Full Bio
Michael Boyle is an experienced financial professional with more than 10 years working with financial planning, derivatives, equities, fixed income, project management, and analytics.
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If you’re looking for a tidy side hustle, earning sign-up bonuses for opening new bank accounts is relatively easy. Many of the larger banks offer regular incentives for this, and U.S. Bank promotions are some of the best.

That said, the key to earning bank bonuses is making sure you’re eligible and following through on any requirements to earn the bonus. We’ll help you identify which U.S. Bank promotions are currently being offered, and how you can make sure you earn them.

U.S. Bank Promotions: November 2023

In the News

The Federal Reserve raised interest rates numerous times throughout 2022 and 2023 to cool high inflation. It's unknown if the Fed will continue to raise rates in 2023 or 2024, but it's smart to take advantage of them while you can. After looking for good bank account promotions, check out the institution's high-yield savings accounts and CD rates. These are directly impacted by the Fed's rate hikes. Depositing money into multiple accounts at the bank may help you maximize the amount of money you can earn on the cash you keep there.

U.S. Bank : Smartly Checking - $500+

U.S. Bank logo

U.S. Bank logo
  • Bonus Amount: $300–$500+
  • Promotion Expiry: October 31, 2023
  • Qualifications: Deposit, direct deposit, online banking
How to Get the Bonus
  1. Open a new checking account and deposit at least $25. Visit the offer page and click on “Apply for checking” to make sure you get the offer. If you open an account using another link on U.S. Bank’s website, use the correct coupon code to make sure you’re eligible for the bonus. It’s easiest to open an account online, but you can also do so in person or over the phone.
  2. Enroll in online banking. Sometime within the first 90 days after you open the account, you’ll need to enroll in online banking. If you apply for an account online right from the start, this will be much easier.
  3. Have at least two eligible direct deposits totaling at least $5,000 to earn $300, or at least $10,000 to earn $500. Direct deposits are generally made by your employer or government benefits provider. You’ll need to have at least two direct deposits within the first 90 days.
  4. Earn an extra $100 by also opening a new U.S. Bank Standard Savings account and earning its bonus. See details below.
  5. Receive your bonus. Once you meet the requirements, U.S. Bank will deposit your bonus amount into your checking account within 60 days. Make sure to keep your account balance positive during this time because you won’t receive the bonus if your account balance is in the red. 

If you transfer money to this checking account yourself from another account, that’s not a direct deposit.

Bonus Restrictions and Account Fees
  • You must live within U.S. Bank’s service area, even if you apply online. The application form will tell you whether you’re eligible based on your ZIP code.
  • Not available if you or anyone else listed on the account (like a spouse) earned a U.S. Bank account opening bonus (for any account) or had an open U.S. Bank checking account within the past two years. 
  • Not available if you or anyone else on the account currently has an open U.S. Bank checking account. 
  • Not available if you’re currently a U.S. Bank employee.
  • The U.S. Bank Smartly Checking account charges a $6.95 monthly fee unless you meet one of seven requirements to have it waived each month: Have at least $1,000 in direct deposits, keep at least $1,500 in your account, qualify for one of U.S. Bank’s rewards tiers (which, in turn, have their own set of requirements), have a U.S. Bank credit card, be under age 24, be over age 65, or be a member of the military. 
  • You may pay several other fees with this account too, including extra charges for using a non-U.S. Bank ATM ($2.50 from U.S. Bank, plus whatever charges the machine’s owner dictates), overdraft fees ($36, up to four times per day), wire transfers ($20–$50), paper statements ($2 per statement), and more. 

U.S. Bank may offer many waivers for its monthly fee, but for some people it may be a big hassle to meet them each month. Once you’ve earned the bonus, consider moving your money to another checking account with no fees. 

U.S. Bank : Standard Savings - $400+

U.S. Bank logo

U.S. Bank logo
  • Bonus Amount: $200–$400+
  • Promotion Expiry: October 31, 2023
  • Qualifications: Deposit, maintain balance
How to Get the Bonus
  1. Open a new savings account and deposit at least $25. You can access this bonus from the link above, or by entering the coupon code when you’re completing your application. You can also open this account in person, over the phone, or online, but either way you’ll still need to live within U.S. Bank’s service area.
  2. Deposit at least $25,000 to earn $200, or at least $50,000 to earn $400, by the specified deadline. Important: It must be new money, meaning that it’ll need to come from somewhere outside of U.S. Bank. You can’t have your rich uncle transfer the funds into your new account from his existing U.S. Bank account and pay him back later, for example. 
  3. Earn an extra $100 by also opening a new U.S. Bank Smartly Checking account and earning its bonus. See details above.
  4. Maintain your account balance until March 31, 2024. You’ll need to keep the money you deposited in your account in place until that date.
  5. Receive your bonus. Within 60 days, U.S. Bank will verify that you meet requirements and then pay out your bonus into your new savings account. 
Bonus Restrictions and Account Fees
  • Only available to people who live within U.S. Bank’s geographical footprint, which you can determine after you enter your ZIP code on the application page. 
  • Not available if you or any other people listed on the account earned a U.S. Bank bonus for opening a new savings account within the past year, or if you had (but closed) a U.S. Bank savings account within the past six months, or if you currently have an open U.S. Bank savings account. 
  • Not available for current U.S. Bank employees.
  • The U.S. Bank Standard Savings account charges a $4 monthly fee unless you meet one of three waiver requirements each month: someone on the account is under age 17 (i.e., if you’re using this as a kids’ savings account), you keep at least $300 in the account, or your average balance for the month is $1,000 or higher (such as if you had a large pot of money, but withdrew it all on the last day).
  • You’ll have to pay many of the same fees as for the checking account, which might include charges for using a non-U.S. Bank ATM ($2.50, plus a surcharge from the ATM’s owner), money orders ($5), dormant accounts ($5 per month), and more.

U.S. Bank : Business Checking - $800

U.S. Bank logo

U.S. Bank logo
  • Bonus Amount: $350–$800
  • Promotion Expiry: January 8, 2024
  • Qualifications: Deposit, online banking
How to Get the Bonus
  1. Open a new business checking account with promo code "AFL23". You can access this bonus from the link above, or enter the coupon code when you’re completing your application.
  2. Deposit $5,000 or $25,000 within 30 days of account opening. You'll need to maintain this balance for 60 days. You'll earn a $350 bonus for depositing and maintaining $5,000, or a $800 bonus for $25,000.
  3. Enroll in online banking. You'll need to do this within the first 90 days after opening the account to be eligible for the bonus.
  4. Receive your bonus. Within 45 days, U.S. Bank will verify that you meet requirements and then pay out your bonus into your new savings account. 
Bonus Restrictions and Account Fees
  • You must live within U.S. Bank’s service area, even if you apply online. The application form will tell you whether you’re eligible based on your ZIP code.
  • Not available if you or anyone else listed on the account (like a spouse) had an open U.S. Bank business checking account within the past two years. 
  • Not available if you or anyone else on the account currently has an open U.S. Bank business checking account. 
  • Not available if you’re currently a U.S. Bank employee.
  • The U.S. Bank Business Checking account charges a monthly fee of $0 to $30, depending on your service tier; the fee can be waived by maintaining a Merchant Banking account or holding a certain amount of money in individual or combined U.S. Bank business accounts, depending on the service tier.
  • Depending on service tier, the account allows a certain number of free transactions per month; after that, each additional transaction will be charged a fee.

Compare U.S. Bank Promotions

Promotion Bonus Amount Promotion Expiry  Qualifications 
U.S. Bank Smartly Checking $300-$500+ October 31, 2023 Deposit, direct deposit, online banking 
U.S. Bank Standard Savings $200–$400+ October 31, 2023 Deposit, maintain balance
U.S. Bank Business Checking $350–$800 January 8, 2024 Deposit, online banking

Note

Although U.S. Bank only operates in some states, it has an excellent reputation. In fact, J.D. Power ranked U.S. Bank fifth in its 2022 U.S. National Banking Satisfaction Study; it scored higher than other big banks like Wells Fargo and Bank of America. The study evaluated customer experience across several factors, including account options, trust, and the banks' handling of customer issues or complaints. 

Pros and Cons of U.S. Bank Promotions

Pros

  • Low fees

  • High potential bonuses

Cons

  • High deposit requirements

  • Multiple steps to complete

  • Not available in all states

Pros Explained

  • Low fees: U.S. Bank has relatively low fees, and you can qualify for a fee waiver if you're under 24 or over the age of 65, are a member of the U.S. military, maintain a minimum balance of $1,500 or more, have combined direct deposits of $1,000 or more per month, or hold an eligible U.S. Bank credit card. 
  • High potential bonuses: U.S. Bank’s new account promotions may be several hundreds of dollars or more. The offers are sometimes relatively high compared to other banks, which often have bonuses of $200 or less. 

Cons Explained

  • High deposit requirements: Although U.S. Bank’s bonuses are generous, the bank has relatively high deposit requirements to qualify. For example, some bonuses have required $6,000 or more in direct deposits—far higher than some banks require. 
  • Multiple steps to complete: Qualifying for a U.S. Bank promotional offer may require you to complete several steps. To qualify for the bonus in some cases, you must open a new account and enter a valid promotional code, enroll in online banking or the mobile app, and meet direct deposit requirements.
  • Not available in all states: U.S. Bank is only available in 26 states: U.S. Bank is only available in 26 states. To qualify for a bonus offer from U.S. Bank, you must live in one of the states in which U.S. Bank operates.

You can use the U.S. Bank locator tool to find out if you live in a qualifying state or to find a local branch.

Alternatives to U.S. Bank Promotions

Not everyone will qualify for a U.S. Bank account or the bank's promotional offers. Luckily, there are several other ways to earn bonuses or higher APYs.

Bank of America Promotions

Bank of America is a national bank that operates branches in all 50 states. And with Bank of America's promotional offers, you can qualify for a bonus by opening a new checking account and receiving as little as $1,000 in direct deposits.

Chase Bank Promotions

Chase is another national bank that often has several promotional offers for its checking accounts. And it has options specifically designed for customers that may not have a lot of money to deposit, such as college students. 

Huntington Bank Promotions

Huntington Bank is a smaller, regional bank. However, it offers generous bonuses to eligible customers who open new checking accounts and meet direct deposit requirements. 

Bank bonuses that you earn for opening a new checking or savings account are taxable as interest income. The bank will send you a 1099-INT that includes all of the interest and cash bonuses you earned during the tax year.

High-Yield Savings Accounts (HYSAs)

If you want to earn a higher APY and don't need check-writing privileges or a debit card, an HYSA can be an excellent option. With any of our picks for the best high-yield savings accounts, you can earn a higher-than-average APY and grow your money faster.

Certificates of Deposit (CDs)

For those looking for a low-risk way to grow their money, a certificate of deposit (CD) can be a safe choice. You can lock in a higher APY by committing to leaving your money in the CD for a specific term. See the best CD rates to find the best place for your savings.

Frequently Asked Questions

  • Does U.S. Bank Offer Any Promotions for Existing Customers?

    U.S. Bank does not usually offer any promotions if you’re already a customer. U.S. Bank is trying to attract new customers to its flock, which you can see in some of its requirements for past promotions, like needing to bring $25,000 in “new money” (i.e., from another bank) to your savings account in order to qualify for certain savings account bonuses. 

  • Can I Use Multiple U.S. Bank Promotions?

    Yes, you can typically use multiple account bonuses together. However, if you’ve earned any U.S. Bank promotions in the past, you might be limited in what you’re eligible for now. For example, you may be ineligible if you’ve earned another U.S. Bank promotion within the past two years for the same type of account.

  • Where Can I Find U.S. Bank Promotions?

    You can find U.S. Bank’s promotions on its webpage, or by following the links above to the right page. Alternatively, if you’re opening the account through another route, you may need to include a coupon code to earn the bonus.

  • Are U.S. Bank Promotions Taxed?

    Yes, U.S. Bank’s promotions are taxed just the same as any other bank bonus, and in a similar way to any interest that you earn. At the end of the year, U.S. Bank will issue you a Form 1099-INT that you can use to report the income on your taxes.  

It’s a good idea to reserve some of the money that you earn from the bonus to pay your taxes later.

Flat Lay Shot Of Managing Bank Account Online With Smartphone

Oscar Wong / Getty Images
Article Sources
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  1. U.S. Bank. "Consumer Pricing Information Addendum." 

  2. JD Power. "Largest National Banks See Declining Satisfaction among Younger Customers, J.D. Power Finds." 

  3. U.S. Bank. "Bank Smartly Checking."

  4. U.S. Bank. "Earn a Business Checking Bonus."

  5. U.S. Bank. "Earn a Checking Reward." 

  6. U.S. Bank. "Fact Sheet." 

  7. Bank of America. "You Could Get $100." 

  8. Huntington Bank. "Checking Account Bonus Offer." 

  9. IRS.gov. "Topic No. 43: Interest Received."