U.S. Bank $300 Online Checking Bonus


Update 1/31/21: Offer is back from January 22 – February 8.

Offer at a glance

The Offer

Direct link to offer | 2021 Link

  • 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 20WEB10 21WEB01
    • 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

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

Avoiding Fees

Monthly Fees

Easy Checking

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.

Gold Checking

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

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

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