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U.S. Bank’s suite of bank accounts
The nation's fifth-largest bank offers accounts for personal and business use.
What banking products does U.S. Bank offer?
How does U.S. Bank compare to other banks or services?
US Bank is located in 28 states and has 3,101 branch locations. It’s smaller than industry giants like Bank of America or Wells Fargo, but may offer more services than a local bank. It’s the fifth-largest bank in the country and has 72,402 employees and more than $450 billion in assets.
- Wide range of options. U.S. Bank offers nine business and personal checking account options, including one interest-bearing checking account.
- Low minimum deposit requirements. You only need $25 to open most checking accounts.
- Free overdraft protection transfers. If you have a Student, Easy, Gold or Platinum Checking account and overdraw on your account, U.S. Bank will transfer money from your linked savings account for free.
- Most accounts have monthly fees. Unless you’re a student, all U.S. Bank checking accounts have monthly fees. But most of them can be avoided.
- Limited accessibility. Most checking accounts have a limited amount of free ATM transactions, so you could quickly accumulate fees for withdrawing money at non-network ATMs.
- Fees for checks and external transfers. Unless you have an eligible account, U.S. Bank charges customers for checkbook orders and external transfers, which incur a $3 fee.
- Low opening deposits. All personal accounts have a low, $25 opening deposit except for the Elite Money Market account, which as a $100 opening deposit.
- Several account options. U.S. Bank offers eight savings accounts for personal and business use.
- Its savings accounts aren’t competitive. If you’ve only got a moderate amount to put away, U.S. Bank‘s savings accounts won’t earn you big bucks. Rates are less competitive than Goldman Sachs’ Marcus Savings account or Ally’s equivalent, for example.
- Monthly fees. Every U.S. Bank savings account has monthly fees, although you can waive them when you meet certain balance requirements.
- Unclear interest rates. U.S. Bank interest rates vary by state, so you’ll need to enter your zip code on its website to view accurate rates in your area.
- Several term lengths. Lock your money away for as short as 14 days or as long as five years.
- Specialty CDs. Open a Step Up CD if you want your rate to go up every seven months or a Trade Up CD if you want to choose when your rate increases once during your term.
- No monthly fees. You won’t pay any fees to open or maintain a CD with U.S. Bank. The only time you’ll pay a fee is if you need to withdraw your money early.
- Varying opening deposits. Open a regular CD with as little as $500, but all other CD types require a minimum $1,000 deposit.
- Average APYs. You’ll earn up to 1.2% depending on your CD term and location. While these rates are higher than other large banks, you can find higher rates elsewhere.
- Rates vary by state. To view current rates in your area, you’ll need to visit U.S. Bank’s website and enter your zip code.
- Trustworthy and established. U.S. Bank has been on the Fortune 500 list for 20 years and is currently ranked 124th.
- Financial IQ. U.S. Bank publishes articles and provides resources on business trends and future planning to help you manage money on its Financial IQ page.
- Small service area. If you’re in one of the 22 states without a branch location, getting face-to-face help will be difficult.
- Poor customer reviews. U.S. Bank has a 1 out of 5-star customer rating on the Better Business Bureau (BBB). Most reviews complain about unhelpful customer service.
Compare U.S. Bank to the competition
U.S. Bank reviews and complaints
It’s been accredited by the BBB for nearly 50 years and has an A- rating. While its 159 customer reviews lend an average of only one star, most of the complaints reflect frustrations about unexpected fees or poor customer service — specifically in regard to credit cards and mortgages.
It hasn’t been rated by the FFIEC, but is financially stable and profitable institution overall. In 2019, it was recognized as one of the world’s most ethical companies for the 5th consecutive year by The Ethisphere Institute.
U.S. Bank customer service
Get support from U.S. Bank‘s customer service team in the following ways:
- Phone:Call 800-872-2657
- Chat bot: Get answers to your questions with robotic assistance. Log into your U.S. Bank account, click Customer Service, then Answers.
- Email. Send a secure message directly through your account by logging in, clicking Customer Service and then Email Us.
- Branch: Head to a branch location to get face-to-face assistance.
- Mail: Send regular mail to corporate headquarters at:
U.S. Bancorp Center
800 Nicollet Mall
Minneapolis, MN 55402
Bottom lineU.S. Bank offers a suite of personal and business accounts, but if you’re looking for face-to-face service or higher rates, compare other bank accounts to find the best fit for your needs.
Frequently asked questions
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