Offer at a glance
- Maximum bonus amount: $300
- Availability: Must be targeted
- Direct deposit required: Two direct deposits, totaling $4,000+
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Mixed data points
- Credit card funding: Can fund up to $250 with a credit card
- Monthly fees: $24.95
- Early account termination fee: None
- Household limit: None
- Expiration date: March 11, 2021
The Offer
Direct link to offer, need to be targeted. Subject line is ‘Enjoy a $300 bonus on us!’
- U.S. Bank is offering a bonus of $300 to existing U.S. Bank Gold Checking account holders when they open a new Package Money Market Savings account. Requirements are as follows:
- Deposit $10,000 or more by March 11 and then maintain a $10,000 minimum balance through September 13.
- Add direct deposits. Complete two or more recurring direct deposits that total a minimum of $4,000 by April 12
- You must also complete at least 10 debit card transactions April 12.
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has a $14.95 monthly fee but is waived if you have a U.S. Bank credit card. Many of us have a U.S. Bank personal credit card like Altitude, Flexperks, or Cash+ which would work to keep the account fee-free. Another option is to get the Gold account and get the fee waived if you have a good credit score and join the Because You’ve Earned It program.
Early Account Termination Fee
There is no early account termination fee to worry about
Our Verdict
Seems like some U.S. Bank account holders that signed up for previous checking bonuses were targeted for this. Best bet would be to deposit the $10,000 just before March 11 and then maintain it through September 13, that’s roughly six months. Works out to be an annualized return of 6%. Nice offer and would add this to the best savings bonus if it was a public bonus.
Hat tip to thisfits
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
