US Bank $1000 Checking & Savings Bonus

There is a pretty tempting US Bank $1000 checking & savings bonus, well at least part of it is tempting. The other part is debatable if it is worth going for. If you chase down both offers you get a total of $1,000 though which is one of the bigger banking bonuses out there. Let's take a look at the details of both offers.

Offer Details

Here are the details on the US Bank $1000 checking & savings bonus. I will give you the details for each offer separately. You will need to use code 2023JUL when applying.

U.S. Bank Smartly^® Checking

Open your checking account online through this page, in a branch or over the phone by September 6 with an opening deposit of $25. 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.
• Your checking bonus interest will be credited to your new checking account within 60 days of direct deposit verification and verification of enrollment in online banking or the U.S. Bank Mobile App as long as your account is open and has a positive balance.

U.S. Bank Standard Savings

Open your savings account online through this page, in a branch or over the phone by September 6 with an opening deposit of $25. Then complete the following qualifying activities to earn $200 or $400: ¹

To earn $200:

• Deposit at least $25,000 in new money by September 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 September 30, 2023.
• Maintain a minimum total account balance of $50,000 or more until March 31, 2024.

Your savings bonus interest will be credited into your new savings account within 30 days of final savings account balance verification as long as your account is open and has a positive balance.

Combo 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. After you have completed all checking and savings requirements, we will deposit the additional $100 bonus into your new checking account within 30 days of verification, as long as your checking and savings accounts are open and have a positive balance.

Link To The Offer

Offer Terms

• To be eligible for the checking bonus, you or any signer 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.
• To be eligible for the checking bonus, you or any signer 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.
• Offer is available almost nationwide. You must be in a state where they have physical branches.
• You must also use the promo code 2023JUL at account opening. 
• 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.
• To receive the additional $100 bonus: You must open both the required checking and required savings accounts and complete all the bonus requirements listed above for both the checking and savings accounts.

Account Fees

The Savings account has not fees. For the checking account military members, plus people under the age of 24 or over the age of 65 have no fee. Otherwise there is a $6.95 monthly fee which you can get waived by doing one of the following:

• Have combined monthly direct deposits totaling $1,000 or more; or
• keep a minimum average account balance of $1,500 or more; or
• hold an eligible U.S. Bank credit card; or
• qualify for one of the four Smart Rewards™ tiers (Primary, Plus, Premium or Pinnacle).

Link To The Offer

US Bank $1000 Checking & Savings Bonus: ToP Thoughts

The savings portion of this bonus is a bit rough since the money has to stay in the account so long. That and the interest rates US Bank offers on the account are not competitive in any way. Because of that I probably wouldn't do the $500 bonus. I am not sure if just doing the $200 offer would trigger the $100 extra bonus when tied in with the checking account or not. I assume it would but I am not positive there, it might be worth it for some to chase the lower offer.

For the checking bonus part, here are some things that have coded as direct deposit for US Bank in the past. If you can't hit it via the normal route these may be worth a try.

HT: Danny the Deal Guru