U.S. Bank $300 Checking Bonus

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Offer at a glance

  • Maximum bonus amount: $400
  • Availability: Nationwide (excludes NY & FL unless you have an existing relationship)
  • Direct deposit required: Yes, $3,000+
  • 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: $6.95-$24.95, avoidable
  • Early account termination fee: None listed
  • Household limit: None
  • Expiration date: July 30, 2021

The Offer

Direct link to offer

  • U.S. Bank is offering a bonus of $400 when you open a new Platinum Checking Package and complete the following requirements:
    • Two or more recurring direct deposits and
    • 10 or more debit card transactions totaling $50 or more within 60 days of account opening

The Fine Print

  • You must use the promotion code listed on this offer when you apply.
  • If you navigate away from this page, the promotion code is not automatically included and you will need to manually input the code during your application.
  • Limit one checking offer bonus per person.
  • To earn the $300 bonus offer, you must open a new U.S. Bank consumer checking account (excluding Student Checking and Safe Debit Account) online by July 30, 2021.
  • Additionally, you must complete recurring direct deposits that total $4,000 or more and be enrolled in e-statements within 60 days of account opening.
  • A direct deposit is an electronic deposit of your paycheck or government benefits (such as Social Security) from your employer or the government.
  • Other electronic deposits or person to person payments are not considered a direct deposit.
  • The checking account bonus will be deposited into your new checking account within 60 days of direct deposit verification and verification of enrollment in e-statements as long as your account is open and has a positive balance.
  • Bonus will be reported as interest earned on IRS form 1099-INT and recipient is responsible for any applicable taxes.
  • Offer may not be combined with any other checking account bonus offers.
  • Offer is not valid if you or any signer on the account has an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last 24 months, or received other U.S. Bank bonus offers within the past 24 months.
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Easy Checking $6.95

This account has a $6.95 monthly fee, this is waived if you do any of the following:

  • Combined monthly direct deposits totaling $1,000+
  • Average account balance of $1,500
  • Account holders age 65 or greater

Platinum Checking $24.95

The Platinum checking account package has a $24.95 monthly fee. This is waived with :

  • $25,000 in combined personal deposits, credit balances with U.S. Bank and/or investments through U.S. Bancorp Investments OR
  • A personal trust relationship with U.S. Bank Wealth Management
  • U.S. military, both former and active, can get the platinum checking without the monthly fee

Early Account Termination Fee

There is no early account termination fee to worry about

Our Verdict

Terms now state you can’t have had an account in the last 24 months, instead of the regular 12 month language. Normally the bonus is $400 instead of $300 as well. Fingers crossed that the 24 month language isn’t permanent as that is a huge negative change. In any case I’d wait for the $400 bonus to return and as such won’t add this to the best bank account bonuses.

Hat tip to Carl J

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