$1000 US Bank Bonus

If you follow the site at all you know that I love myself some good bank bonus offers. In the past I have shared an easy win with the Capital One checking offer and a decent Wells Fargo offer. Today I bring you a $1000 US Bank bonus. This one is broken into two parts, a checking and savings bonus. While $1,000 sounds great, I would call this a $500 checking account bonus since the savings offer doesn't seem worth it. Let's get into it.

Who Is Eligible?

Before we get into what this offer is, and how to get fees waived, we should discuss who is eligible for this $1000 US Bank bonus.

US Bank is a bit strange that they like their members to be in a state that has a branch. You can also skate by if you are in a bordering state and not too far from a branch. Luckily, they are in many states so it is an almost nationwide bonus offer.

You can not get this bonus if you are a current US Bank checking / savings account holder, or if you are a US Bank employee.

U.S. Bank Smartly^® Checking bonus:

To be eligible, you or any owner(s) on your new Bank Smartly^®Checking account cannot have an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last two years or received other U.S. Bank bonus offers within the past two years.

Standard Savings bonus:

To be eligible, you or any owner(s) on your new Standard Savings account cannot have an existing U.S. Bank savings account or money market account, had a U.S. Bank consumer savings account or money market account in the last six months or received other U.S. Bank savings account or money market account bonus offers within the past 12 months. 

$500 US Bank Checking Bonus

Here are the details for the U.S. Bank Smartly Checking account bonus offer.

Open your checking account online through this page, in a branch or over the phone by October 31 with an opening deposit of $25. Promo Code: 2023SEP

Then complete the following steps within 90 days of account opening to earn your $300 or $500 bonus:

• Step 1: Enroll in the U.S. Bank Mobile App or online banking.
• Step 2: Complete two or more direct deposits.

Your bonus is determined by the total amount of your direct deposits:

• Earn $300 when your direct deposits total $5,000 to $9,999.99.
• Earn $500 when your direct deposits total $10,000 or more.

***Here is a list of options that have counted as a direct deposit in the past for US Bank

How To Get Your Fee Waived

Here is how you can get the $6.95 monthly fee waived on the U.S. Bank Smartly^® Checking account:

• Members of the military (requires self disclosure) and customers ages 24 and under and those 65 and over pay no monthly maintenance fee.
• All others can have it waived by meeting any one of the following criteria:
  • Have combined monthly direct deposits totaling $1,000 or more
  • Keep a minimum average account balance of $1,500 or more
  • Hold an eligible U.S. Bank credit card
  • Qualify for one of the four Smart Rewards^® tiers (Primary, Plus, Premium or Pinnacle).

Link To Offer

$400 US Bank Savings Bonus

Here are the details for the US Bank savings bonus:

Open your savings account online through this page, in a branch or over the phone by October 31 with an opening deposit of $25. Then complete the following qualifying activities to earn $200 or $400:

To earn $200:

• Deposit at least $25,000 in new money by November 30, 2023.
• Maintain* a minimum total account balance of $25,000 to $49,999.99 until March 31, 2024.

To earn $400:

• Deposit at least $50,000 in new money by November 30, 2023.
• Maintain* a minimum total account balance of $50,000 or more until March 31, 2024.

(New money means that the funds were not transferred from another U.S. Bank product, but received from an external source.)

* Fees will reduce your eligible balance, and deposits are needed to cover these fees to maintain the balance for this offer.

How To Get Your Fee Waived

Here is how you can get the $4 monthly fee waived on the U.S. Bank Standard Savings account:

• Maintain a $300 minimum daily balance
• Have a $1,000 average monthly collected balance
• Hold the account with an individual age 17 and under
• Open a U.S. Bank Smartly^® Checking account and enroll in the Smart Rewards^® Primary tier or above

$100 Total Completion Bonus

Earn an additional $100 bonus when you apply and meet all requirements for both the U.S. Bank Smartly^® Checking bonus and the U.S. Bank Standard Savings bonus. 

Link To Offer

Why I Would Skip The Savings Account Offer

I would skip over the US Bank savings account offer and just go for the checking account offer myself. That is because the amount of money you need to deposit, and how long it needs to stay in the account, are not really worth the bonus. Especially with other savings accounts offering 4% – 5% interest rates. If US Bank had a competitive savings rate AND offered the bonus then that would be different. But they don't, so it should probably be a pass. I would stick to just the checking offer.

$1000 US Bank Bonus: ToP Thoughts

I know that checking account $10,000 direct deposit requirement seems steep but luckily US Bank seems to have a lot of things that trigger the direct deposit that make it easier (linked to above). That is the only reason I would consider this bonus, and because of that it is one of the better ones available.

The savings account juice just isn't worth the squeeze. With where savings account interest rates are these days it just doesn't make sense to chase that one. Especially with US Bank not offering competitive rates of their own for their savings products. The bonus isn't good enough to cover the glaring weakness.

Let me know if you are going to give this $1000 US Bank bonus a go over in the ToP Facebook Group.

HT: DDG