About US Bank
Overall Satisfaction Rating
- 5 stars
- 4 stars
- 3 stars
- 2 stars
- 1 stars
Pros
- Money market account options
- More than 3,000 branches in 25 states
- Free checking for students and seniors
Cons
- High overdraft and transfer fees
- High requirements on free checking
Bottom Line
US Bank provides a range of banking services and products. Though its maintenance fees can be high, US Bank offers convenience and financial options at thousands of branch locations and an online banking app.
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US Bank has given myself a reasonable interest rate. I am able to make extra payments without a penalty. Customer service is ready to answer any question I may have, and explains ...
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When I need to talk to person I can. That's important to me not to have a hard time getting to a live person. The time I needed to talk to a person I did and got the issue resolve...
Read full reviewWhat is US Bank?
US Bank is a commercial bank that provides checking and savings accounts, mortgage loans, insurance, wealth management and payment-service products. US Bank operates more than 3,000 branches and nearly 5,000 ATMs throughout the Midwest and West Coast. Through the US Bank mobile app, account holders can review statements, deposit checks, send money, pay bills, transfer funds and receive alerts about banking activity.
US Bank services
US Bank provides checking and savings accounts, CDs and more financial services.
- US Bank checking accounts
- US Bank offers Easy Checking, Gold Checking, Platinum Checking, Student Checking and Safe Debit accounts. Monthly maintenance fees range from $6.95 to $24.95 but can be waived by maintaining a particular balance or depositing a certain amount into the account each month. Checking accounts come with online and mobile banking services, mobile deposit and access to thousands of ATMs and bank locations.
- US Bank savings accounts
- US Bank savings accounts come with online and mobile banking, digital statements, overdraft protection and account alerts. US Bank savings accounts require a $25 minimum opening deposit and a monthly maintenance fee of $4.00. However, account holders who maintain a minimum daily ledger balance of $300 or more do not have to pay the monthly fee. Consumers can apply to open a US Bank savings account online or in person.
- US Bank certificates of deposit
- US Bank certificates of deposit (CD) guarantee a fixed rate of return. Consumers can select terms ranging from one month to five years. A minimum deposit of $500 is required to open a US Bank CD account.
- US Bank credit cards
- US Bank currently offers eight different credit card options with annual fees ranging from $0 to $85. Select from cards with cash back rewards, low interest rates on balance transfers and new purchases, travel perks or cards specifically designed for small businesses. US Bank also provides secured credit cards.
- US Bank loans
- US Bank offers a variety of loans and lines of credit. US Bank’s personal loans have fixed interest rates and monthly payments. College students can apply for financing through US Bank’s student loans, which have flexible payment scheduling and deferment options. Customers can also apply for US Bank car loans and US Bank mortgage loans.
- US Bank money market account
- The US Bank money market account offers tiered interest rates that pay more for higher account balances. US Bank’s money market accounts require a $100 minimum opening deposit. Account holders get access to online and mobile banking, check-writing privileges, overdraft protection and digital statements. The $10 monthly maintenance fee is waived if the daily ledger balance is at least $10,000.
US Bank fees
US Bank charges fees based on the type of account and amount of funds maintained in the account each month. Additional fees are assessed for account holders who overdraft their accounts or opt to receive paper statements in the mail.
- US Bank checking account fees
- US Bank’s checking account fees range from $0 to $24.95 per month, depending on the type of account. US Bank waives checking account fees under certain circumstances.
- Student Checking account: US Bank doesn’t charge a monthly maintenance fee for Student Checking accounts.
- Easy Checking account: The $6.95 monthly maintenance fee for Easy Checking accounts is waived if the combined monthly direct deposits total more than $1,000, the average account balance is $1,500 or the account holder is older than 65.
- Gold Checking account: The $14.95 monthly maintenance fee for Gold Checking accounts can be waived if the account holder has an open US Bank credit card, personal loan or line of credit.
- Platinum Checking account: The $24.95 monthly maintenance fees for Platinum Checking accounts can be waived if the combined personal deposits, credit balances or investments with US Bank total $25,000 or if the account holder has a personal trust relationship with US Bank Wealth Management.
- US Bank ATM fees
- There are no ATM fees or surcharges for making withdraws at any US Bank ATM or participating 7-Eleven store ATM. US Bank’s non-network ATM fees are $2.50 for domestic and international withdraws.
- US Bank overdraft fee
- US Bank charges a $36 daily overdraft fee per transaction. Accounts overdrawn by less than $5 don’t incur an overdraft fee.
- US Bank paper statement fee
- US Bank charges a $2 fee for each paper statement. You can avoid this fee by opting in to receive paperless statements.
US Bank FAQ
Where are US Banks located?
There are nearly 3,000 US Bank locations, located primarily in the Midwest and on the West Coast. States with US Bank branches are Arkansas, Arizona, California, Colorado, Florida, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Minnesota, Missouri, Montana, North Dakota, Nebraska, New Mexico, Nevada, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin and Wyoming.
What is the US Bank checking account minimum balance?
US Bank checking accounts must maintain a balance of at least $25.
What is the US Bank savings account minimum balance?
The minimum opening deposit for a US Bank savings account is $25.
How much does it cost to open an account with US Bank?
There is no cost to open an account with US Bank, but customers must make a minimum deposit of $25.00 to establish a checking or savings account.
Is US Bank the same as US Bancorp?
US Bancorp (NYSE: USB) is the parent company of US Bank and its subsidiaries, US Bancorp Investments Inc. and US Bank Wealth Management.
Is US Bank a good bank?
US Bank provides free checking accounts for students and seniors, making it a smart option for consumers in college and those 65 or older. Because the bank has costly overdraft fees and high direct deposit requirements, consumers whose monthly paychecks are less than $1,500 might consider banking elsewhere.
US Bank Reviews
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I’ve been a happy, loyal Union Bank customer for over 20 years. During their transition to US Bank I was assured the same exceptional customer service & communication, but with greater services and online technology. 2/27 I applied for an equity line of credit. I was told US Bank was now handling Union Bank’s equity products. Fine. I spoke with Drew, started the application process and uploaded initial documents to my portal. I shortly began receiving correspondence from Sandy with updates & underwriting requests. She was very responsive, returned my calls and addressed my questions. I promptly sent all documents as needed, only to be asked for the same documents again! This was the first red flag. Seems their system had trouble retaining my uploads and instead of addressing it, I received auto generated notices that I failed to complete the request.
Sandy ghosted me.
I made rounds of calls to Drew, who was unaware of the reason but would contact underwriting. ‘They never got back to him. Then Andrew at the local branch who, after some digging and calls, was finally able to tell me I was denied due to insufficient HOA master insurance coverage. I submitted the policy declaration weeks ago. Why not address it then? It sure would have saved time and given me the opportunity to apply elsewhere. I immediately contacted the insurance provider who assured me this was false information. He was even contacted by Sandy over a week ago to clarify a policy question, which he did. He was just as confused as I was and offered to provide whatever else they needed.
With the abrupt cease of communication, ambiguous explanations, and finally be told this application is closed, I feel someone seriously dropped the ball and doesn’t want to come clean. It makes absolutely no sense that no one is available to have a clear conversation with me about this. I’m expected to just move on. Terrible. I’m not done. This is highly unfathomable behavior. I’m closing all of my accounts before the Union/US Bank transition is finalized.
I opened a home equity loan, and they asked if I wanted to sign up for a bank account to have easy access to it. I declined. I tried later to create an online account to access the home equity account for purposes of payment. The website would not allow me to do so. I called to acquire my loan number and they refused to provide it despite me providing identifying information. I was able to get the loan number via a CFBP complaint. Which is funny, because they are willing to tell the CFPB my loan number, but not me. Based on my experiences, I recommend not banking with them. Or, if you do bank with them, make a complaint to the CFPB. Just be prepared for US Bank not to accept any wrongdoing.
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Oh, the arrogance of this bank!! What recently happened to me has to be against the law. I could list several examples of why I am dissatisfied with this bank, but this is the most recent example of the greediness of their Private Banking department. Given the closure of regional banks SVB and Signature and the uncertainty of another regional bank where I have two seven-figure CDs I wanted to move my money to a larger bank. I entered my local US Bank branch to open a simple checking account. A client relationship consultant IV helped me by the name of Wes **. After taking my information, he advised me that due to my deposit amount, I would have to deal with the Private Banking department, and they would be calling me shortly.
I received a call from Theresa **, from Private Banking; she informed me she could open the account if I agreed to pay an annual service fee of $15,000.00!! When she asked if I was okay with the proposed service fee, I replied absolutely not and ended our conversation. The next and last time I walk into a US Bank branch will be to close my last remaining checking account!!
Customer Service always has a minimum of 1-2 Hours of wait. Their customer service representatives are unknowledgeable and do not know how to solve issues. Long story short, I use a personal card for business purchases. They notified me that I need to show proof that the bank account I am using to pay off my credit card belongs to me. I faxed over my business bank account information to prove to them that it is my funds paying off business expenses. Two weeks later, they froze my account and I called their customer service and after waiting for a representative for 1.5 hours, they said I need to refax my documents and wait. I have never had any issues with BOA, Chase, etc... U.S. Bank is probably one of the worst banks I had to deal with. (The only reason why I have to utilize them is because they are partnered with the airline I consistently use to travel overseas). Otherwise, I would cancel all my cards and use another bank.
Pros: They approved me for my 1st credit card when I was a student but Wells Fargo declined me. They gave me free checks for my checking account. I appreciate their willingness to help students who need to build their own credits.
Cons: Bad website since 2022. It takes much longer for the website to load every time I log into my account. When it's loading or buffering, the flickering grey waves drive you dizzy, if not crazy. It sometimes acts up, like today it failed to load info again and again and kept telling me there's a system error. Last year I got a credit card with a bonus. Before the deadline, I called them at least 5 times checking if I have met the spending thresh hold. They said yes. After the deadline, I called them again asking when I would get my bonus. This time they said I did not meet the spending threshold and so there's nothing they can do. So I was just played by them like that. My friend also experienced some trouble with them and she has cancelled her accounts. I don't want to but I will have to. Can't stand their lack of integrity and can't stand their worst online banking tech.
So my account has been on hold for 2 months. I sent in all the information that they needed. Seems to still doesn't work for some reason. They tell me to go to the website login and send in the information through the website. I can't do that because the account is locked and it won't let me log in which doesn't make any sense. I've been going through the same cycle for too much. I can't take it anymore like I got I got bills to pay. I got medicine I have to take for depression. I can't do nothing because my account is locked. I feel like customer service is no help. It needs to get better. That's what I feel. It needs to get better because I feel like customer service isn't doing a good job of getting to know their customer like they should. I shouldn't have to go through all this trouble just to get my account reactivated and to get my money. Something needs to be fixed.
The USA banks do not offer trading or cashing in of gold coins, silver coins or ingots at all. They do not offer sales of gold and silver coins or ingots. That is what a bank is supposed to do. They do not offer solid numismatic investments at their bank locations, and with today's technology they can easily give spot prices and follow the markets. They could have a separate bank location for numismatics. They also do not have solid paper currency trading with old currency or different sorts of currency that is rare or otherwise a marketable investment. The banks give low interest rates on savings accounts and CDs, and some take out punitive for not keeping a balance or for mailing statements.
We've been with U.S. Bank for at least 12 years now and we love it. US BANK helped me with my first account after I turned 18 and got me through school. The Bankers are wonderful and have given me all sorts of insight, from how to invest to spending on a daily basis. Keep up the good work!
Charging me for a fee because a bank that I closed an account with about a week and a half before payment was due tries to send a payment? What the hell? Of course the bank is closed and it is not my fault and my payment was made with my new bank on time! U.S. Bank was like, it's my fault that the bank tried to send a payment that wasn't valid? Customer service suck and they suck! The End!
My Roth IRA was transferred to them by another institution. It has a couple of CDs in it. I get a letter stating they want to charge me $30 a year to be the custodian of my Roth IRA, and “helpfully” offer to deduct the money from my account. Not only do they want $30 a year for doing basically nothing, but dealing with them so as to withdraw the proceeds so as to deposit them with another institution (that doesn’t charge this ridiculous fee) is like undergoing a tooth extraction. Do yourself a favor and avoid these crooks.
US Bank Company Information
- Company Name:
- US Bank
- Website:
- www.usbank.com
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