Update 1/31/21: Offer is back from January 22 – February 8.
Offer at a glance
- Maximum bonus amount: $300
- Availability: Must live in U.S. Bank’s footprint (see also this post)
- Direct deposit required: Yes, two deposits totaling $2,000 or more
- Additional requirements: Use promo code and online/mobile banking
- Hard/soft pull: Soft
- ChexSystems: Mixed data points
- Credit card funding: Can fund up to $250 with a credit card
- Monthly fees: $6.95 avoidable
- Early account termination fee: None
- Household limit: One (enforced)
- Expiration date:
November 2, 2020February 8, 2021
- U.S. Bank is offering a bonus of $300 when you open a new checking account package and complete the following requirements:
- Use promo code
- Receive recurring direct deposits of two or more that total $2,000 or more within 60 days of account opening
- Be enrolled in either U.S. Bank online banking or U.S. bank mobile app by November 6, 2020
- Use promo code
The Fine Print
- You must use the promo code listed on this offer when you apply.
- A minimum deposit of $25 is required to open a U.S. Bank consumer checking account.
- 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 November 2, 2020.
- Additionally, you must complete recurring direct deposits that total $2,000 or more within 60 days of account opening and be enrolled in e-statements by November 6, 2020.
- 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 earn 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 six months, or received other U.S. Bank bonus offers within the past 12 months.
- Limit one checking offer bonus per household.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
This account has a $6.95 monthly fee and is waived if you meet any of the following requiremnets:
- Combined monthly direct deposits totaling $1000+ – or –
- Average account balance of $1,500.- or –
- Account holder(s) age 65 or greater.
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
This is now a fairly frequent deal from U.S. Bank. This is basically the best bank bonus they offer (although $400 was offered in branch) and it’s also churnable but keep in mind that you can’t have had an account in the last six months and can’t have received a bonus within the last 12 months. This will be added to the best bank account bonuses.
Hat tip to reader Looney Tunes
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