US Bank Standard Savings Account review, rates + fees |

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U.S. Bank Standard Savings Account review

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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
Interest compoundingDaily
Monthly transaction limit6
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

Name Product Interest rate (APY) Fee Minimum deposit to open
Enjoy no monthly fees and a competitive APY with this online-only savings account.
$5 per month
(can be waived)
Get a $150 bonus when you open a new Chase Savings account, deposit a total of $10,000 or more in new money within 10 business days and maintain a $10,000 balance for 90 days.
A super-high interest rate if you're in the habit of saving at least $100 per month or have $25K in the bank.
Betterment Everyday Savings
Betterment Everyday Savings
At a 2.38% APY if you join the waitlist for Betterment Everyday Checking or 2.13% if you don't, this is a high-interest FDIC-insured savings account seamlessly tied into Betterment's investment robo-advisor.
Earn 20x the national savings account average with no fees or minimums.
Earn one of the highest interest rates without the fees.

Compare up to 4 providers

How do I open an account?

Sign up and fund your account online in five easy steps:

  1. Go to U.S. Bank’s website and find the Standard Savings Account. Click Apply Online.
  2. Enter your personal information, employment details and how you expect to use your account.
  3. Choose from an individual or joint account. Click Continue.
  4. Confirm that you’ve read the electronic and account disclosures and review your information. Click Submit & Continue.
  5. 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.

Required information

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.

Bottom line

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.

Frequently asked questions

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