U.S. Bank promotions of July 2024

U.S. Bank is currently offering a bonus of $300 or $800 to open a new business checking account. How much you can earn will depend on the balance you maintain in the account. 

Annual percentage yields (APYs) and account details are accurate as of July 10, 2024. 

U.S. Bank promotions overview

$300 or $800 bonus for opening a new Business Checking account

Earn a $300 or $800 bonus for opening a new Business Checking account and meeting additional requirements.

How to qualify

To qualify for the bonus for opening a new Business Checking account, you must:

• Not be an existing U.S. Bank customer or have had a U.S. Bank account within the past 24 months.
• Use the Q3BUS24 offer online.
• Open a new Silver-, Gold- or Platinum-level Business Checking account.
• Make a minimum opening deposit of $100.
• Deposit at least $30,000 in new money within 30 days of account opening and maintain at least that balance for 60 days after opening the account to earn the lower bonus. Money cannot be from an account at U.S. Bank or any of its affiliates.
• Deposit at least $30,000 in new money within 30 days of account opening and maintain at least that balance for 60 days after account opening to qualify for the higher bonus. Money cannot be from an account at U.S. Bank or any of its affiliates.

Fees

No fees are associated with this U.S. Bank promotion. However, these accounts come with monthly fees of $0 (Silver), $20 (Gold) or $30 (Platinum). The $20 and $30 fees are eligible for waivers.

In addition, transaction fees of $0.50 (Silver), $0.45 (Gold) or $0.40 (Platinum) are charged if the account holder exceeds the monthly transaction limit, which is between 125 and 500 transactions per month depending on the account. 

Expiration date

Expired on Sept. 16, 2024.

Up to 4.35% APY bonus for the U.S. Bank Platinum Business Money Market account

Until August 7, 2024, U.S. Bank is offering an APY bonus of 4.35% on qualifying balances for its Platinum Business Money Market account. The normal yields range between 0.05% to 1.15% APY.

How to qualify

To qualify for the APY bonus for opening a Platinum Business Money Market account, you must:

• Make a minimum opening deposit of $100.
• Maintain a daily balance of $25,000 to $2,999,999.99. For daily balances under $25,000, the APY is 0.05%. For balances of $3 million or more, the APY is 1.15%.

Fees

No fees are associated with this U.S. Bank promotion. However, a $15 monthly fee applies unless you maintain a daily ledger balance of at least $10,000.

Expiration date

August 7, 2024.

How U.S. Bank promotions compare

U.S. Bank’s current promotions for business accounts stack up well, but it doesn’t offer bonuses for personal accounts. Bank of America, Chase, Citi®, PNC and Wells Fargo all feature at least one promotion for personal checking.

BANK	BONUSES FOR PERSONAL CHECKING	BONUSES FOR BUSINESS CHECKING	BONUSES FOR SAVINGS
U.S. Bank	N/A	$300 or $800	N/A
Bank of America	$200	$200	N/A
Chase	$100 or $300	$300	N/A
Citi	Up to $2,500	$300 to $2,000	N/A
PNC	$100, $200 or $400	$200 or $500 or $1,000	N/A
Wells Fargo	$300	N/A	$525

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^{*Bonus amounts displayed above can be obtained after meeting certain requirements and may vary based on account type and/or deposit amount.}

U.S. Bank review

Among major national banks, U.S. Bank enjoys a pretty good reputation among customers. In the J.D. Power 2022 U.S. National Banking Satisfaction Study, U.S. Bank earned an above-average score of 652 — above Citi, Bank of America, Wells Fargo and Truist.

However, U.S. Bank doesn’t fare well as in the J.D. Power 2023 U.S. Retail Banking Satisfaction Study, which breaks down customer satisfaction on a region-by-region basis. 

In Illinois, for instance, U.S. Bank gets slapped with a below-average score of 617 in the retail banking study. And in the Midwestern region that encompasses Kansas, Missouri, Nebraska and Oklahoma, the bank receives a below-average score of 645.

But U.S. Bank redeems itself with an above-average score of 686 in the region that comprises Alabama, Arkansas, Louisiana, Mississippi and Tennessee, and an above-average score of 636 in the region that includes Arizona, Colorado, Nevada, New Mexico, Utah and Wyoming.

In the five-state territory that U.S. Bank calls home — Iowa, Minnesota, North Dakota, South Dakota and Wisconsin — ekes out an above-average score of 628 in the retail banking study. 

U.S. Bank also shines in the J.D. Power U.S. Small Business Banking Satisfaction Study. It ranks second, behind Capital One, with a score of 713.

Based in Minneapolis, U.S. Bank ranks as the country’s fifth largest bank, with assets totaling nearly $670 billion as of September 30. 2023. It operates more than 2,000 branches in 26 states.

 Frequently asked questions(FAQ’s)