[Targeted] U.S. Bank $300 Savings Bonus

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Offer at a glance

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

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