U.S. Bank Standard Savings Account review
This standard personal savings account allows low balances — but don’t expect a high APY.
Looking to sock away extra money? The U.S. Bank Standard Savings Account may meet your needs. With thousands of bank locations in the US, online banking and a low monthly minimum balance, you can easily save and access your money as needed.
$4 per month
Minimum deposit to open
|Fee||$4 per month|
|To waive the fee||$300 minimum daily ledger balance |
OR $1,000 average monthly collected balance
|Minimum deposit to open||$25|
|Minimum balance to earn interest||$0|
|Monthly transaction limit||6|
|Fee per transaction over the limit||$15|
What are the benefits of a U.S. Bank Standard Savings Account?
True to its name, the Standard Savings Account offers basic perks without having to meet a high minimum balance.
- Nationwide ATMs. Access your savings at more than 5,300 ATMs nationwide for free.
- Flexible support. Get help in person at more than 3,000 U.S. Bank branches, or manage your account online or from your phone.
- Overdraft protection. Set up your savings as a backup balance for your U.S. Bank checking account.
What should I look out for?
Depending on your needs, you may face potential downsides that include:
- Low APY. You’re bound to beat this account’s 0.01% APY with nearly any other on the market.
- Monthly maintenance fee. If you can’t maintain a balance of at least $300 daily or $1,000 monthly, you’ll pay $4 a month to own the account.
Compare with other savings accounts
How do I open an account?
Sign up and fund your account online in five easy steps:
- Go to U.S. Bank’s website and find the Standard Savings Account. Click Apply Online.
- Enter your personal information, employment details and how you expect to use your account.
- Choose from an individual or joint account. Click Continue.
- Confirm that you’ve read the electronic and account disclosures and review your information. Click Submit & Continue.
- Enter your funding account’s banking details, and click Continue to finalize your application.
To open a savings account with U.S. Bank, you must:
- Be a US citizen.
- Be at least 18 years old.
- Have a US residential address.
You’ll need to provide personal and financial details that include:
- Your contact information.
- Your Social Security number.
- Your annual income and employment information.
- A valid driver’s license, state ID or military ID number.
- The account and routing number for the bank account you’ll use to fund your savings.
How do I deposit or withdraw my money?
U.S. Bank makes it easy to access your savings in four ways:
- In person. Withdraw money and deposit checks or cash at any of the bank’s 3,000 branches or 5,300 ATM locations nationwide.
- Online. Set up an online account to monitor your savings on the go.
- Mobile app. Manage your balance, transfer money between accounts or deposit checks from your phone.
- Zelle. Transfer to or receive money from friends and family with only an email or mobile number.
How can I get in touch with customer service?
Have a question or need assistance? Get the help you need in person or online.
- Phone. Call 800-872-2657 to speak with a rep.
- Email. Log in to your online banking account and complete a secure online form.
- Branch. Locate a U.S. Bank branch near you for face-to-face assistance during business hours.
- Online. Explore basic questions about online banking, student loans, home mortgages and credit cards.
The main advantage of a U.S. Bank Standard Savings Account is its low minimum required balance and ease of access to your money. But you’ll find many other accounts offering a higher APY to help you grow your savings more quickly.
Learn more about your savings accounts options to find the best for your needs.