U.S. Bank $400 Checking Bonus

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Offer at a glance

  • Maximum bonus amount: $400
  • Availability: Nationwide (excludes NY unless you have an existing relationship)
  • Direct deposit required: $1,000 – $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: One
  • Expiration date: March 31, 2021

The Offer

Direct link to offer

  • U.S. Bank is offering a $400 checking bonus. Bonus you receive depends on recurring direct deposits of two or more that total (within 60 days of account opening):
    • $1,000-$1,999.99 to earn $100;
    • $2,000-$3,999.99 to earn $200;
    • $4,000 or more to earn $400

The Fine Print

  • A minimum deposit of $25 is required to open a U.S. Bank checking account.
  • To earn your $100, $200 or $400 bonus, open a new U.S. Bank consumer checking account (excluding Student Checking and Safe Debit Account) from February 9 through and including March 31, 2021.
  • Additionally, you must complete recurring direct deposits of two or more that total: $1,000-$1,999.99 to earn $100; $2,000-$3,999.99 to earn $200; $4,000 or more to earn $400 within 60 days of account opening and be enrolled in e-statements by April 14, 2021. 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 bonus will be deposited into your new checking account within 60 days of direct deposit verification, and verification of enrollment in e-statements. The account must be open and have 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 have 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 checking bonus offers within the past 12 months.
  • You must use the promotion code listed on these offers 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. Current U.S. Bank employees are not eligible. Other restrictions apply. All regular account opening procedures apply. For a comprehensive list of account pricing, terms and policies, see the Your Deposit Account Agreement and the Consumer Pricing Information disclosures. These documents can be obtained by contacting a U.S. Bank branch or calling 800-872-2657.
  • 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

There was a $300 bonus that just ended. This deal requires a slightly higher direct deposit for the $400 bonus, but obviously an extra $100. This bonus is churnable and I think the $400 variation is the best variation of this offer, so if you’re eligible I’d recommend doing it sooner rather than later to reset the churning clock. This will be added to the best bank bonuses.

Hat tip to reader Carl J

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