US Bank Promotions & Offers (Feb 2024)

January 19, 2024
Blog

US Bank offers a decent promotion for new business account holders with the possibility of earning either a $500 or a $750 bonus. To get the bonus, you must make at least $5,000 (for the $500 bonus) or $15,000 (for the $750 bonus) in deposits within the first 30 days of account opening and maintain as much as your average balance during your first 60 days.

While US Bank promotions & offers are decent, the bank has many issues when it comes to providing a good service to its customers. Few financial institutions have such bad user reviews on platforms like Trustpilot, which is telling of bad customer support and overall bad service. For this reason, I can’t, in good faith, recommend this bank to anyone. At least for the time being, my suggestion is to steer clear of this bank.

That said, if you’re still interested in any of the US Bank promotions, don’t wait too long, as they expire soon. Make sure you follow the steps carefully to meet the requirements to qualify for the bonus. Also, remember to check with US Bank for the latest details and terms of their promotions before opening an account.

If you’re looking for a new bank account with great features and generous bonuses, you might want to check out US Bank. US Bank is one of the largest banks in the nation, with branches in 26 states. It offers a variety of personal and business accounts, as well as loans, mortgages, investments, and more.

US Bank also runs some of the best bank promotions in the market, giving you the opportunity to earn extra cash when you open a new account and meet certain requirements. In this post, we’ll break down each promotion to help you choose the best one for you.

#1 US Bank Silver Business Checking Package: Earn Up to $750

US Bank Silver Business Checking Package is a flexible and convenient account for small businesses. It offers 125 free monthly transactions, 25 free cash deposits, and no monthly maintenance fee. You can earn up to $750 when you open a new US Bank Silver Business Checking Package online with promo code Q2BUS23 and complete qualifying activities.

US Bank Promotions Offers

AccountBonus AmountExpiry DateRequirements
US Bank Silver Business Checking Package$500June 30th, 2023Open a new account online with promo code Q2BUS23 with at least $100 by June 30th, make combined deposits of $5,000 within the first 30 days and maintain an average balance of at least $6,000 for the first 60 days of account opening.
US Bank Silver Business Checking Package$750June 30th, 2023Open a new account online with promo code Q2BUS23 with at least $100 by June 30th, make combined deposits of $15,000 during the first 30 days, and maintain an average balance of at least $15,000 for the first 60 days of account opening.

Who It’s For: This promotion is for new US Bank business customers who open an account online.

When You’ll Receive Your Bonus: Your bonus will be deposited into your account within 45 days of meeting the balance requirement.

#2 US Bank Gold Business Checking Package: Earn Up to $750

US Bank Gold Business Checking Package is a premium account for businesses that need more transactions and cash deposits. It offers 300 free monthly transactions, 100 free cash deposits, and a 50% discount on the monthly maintenance fee. You can earn $750 when you open a new US Bank Gold Business Checking Package online with promo code Q2BUS23 and complete qualifying activities.

The account has a $20 maintenance fee that’s waivable if you have $10,000 in average collected balance or $20,000 in combined average collected business deposit balances, or $50,000 in combined average collected business deposits and outstanding business credit balances.

AccountBonus AmountExpiry DateRequirements
US Bank Gold Business Checking Package$500June 30th, 2023Open a new account online with promo code Q2BUS23 with at least $100 by June 30th, make combined deposits of $5,000 within the first 30 days, and maintain an average balance of at least $6,000 for the first 60 days of account opening.
US Bank Gold Business Checking Package$750June 30th, 2023Open a new account online with promo code Q2BUS23 with at least $100 by June 30th, make combined deposits of $15,000 during the first 30 days, and maintain an average balance of at least $15,000 for the first 60 days of account opening.

Who It’s For: This promotion is for new US Bank business customers who open an account online.

When You’ll Receive Your Bonus: Your bonus will be deposited into your account within 45 days of meeting the balance requirement.

#4 US Bank Platinum Business Checking Package: Earn Up to $750

US Bank Platinum Business Checking Package is an elite account for businesses that need unlimited transactions and cash deposits. It offers unlimited free transactions per month, unlimited free cash deposits per month, and no monthly maintenance fee. You can earn up to $750 when you open a new US Bank Platinum Business Checking Package online with promo code Q2BUS23 and complete qualifying activities.

US Bank Promotions & Offers

The account has a $30 maintenance fee that’s waivable if you have $25,000 in average collected balance or $75,000 in combined average collected business deposits and outstanding business credit balances.

AccountBonus AmountExpiry DateRequirements
US Bank Platinum Business Checking Package$500June 30th, 2023Open a new account online with promo code Q2BUS23 with at least $100 by June 30th, make combined deposits of $5,000 within the first 30 days, and maintain an average balance of at least $6,000 for the first 60 days of account opening.
US Bank Platinum Business Checking Package$750June 30th, 2023Open a new account online with promo code Q2BUS23 with at least $100 by June 30th, and maintain an average balance of at least $25,000 for three consecutive months

Who It’s For: This promotion is for new US Bank business customers who open an account online.

When You’ll Receive Your Bonus: Your bonus will be deposited into your account within 45 days of meeting the balance requirement.

Summary Of US Bank Promotions

Now that you’ve seen all of the promotions one by one, here’s a table comparing them side-by-side.

AccountBonus AmountExpiry DateRequirements
US Bank Silver Business Checking Package$500June 30th, 2023Open a new account online with promo code Q2BUS23 with at least $100 by June 30th, make combined deposits of $5,000 within the first 30 days and maintain an average balance of at least $6,000 for the first 60 days of account opening.
US Bank Silver Business Checking Package$750June 30th, 2023Open a new account online with promo code Q2BUS23 with at least $100 by June 30th, make combined deposits of $15,000 during the first 30 days, and maintain an average balance of at least $15,000 for the first 60 days of account opening.
US Bank Gold Business Checking Package$500June 30th, 2023Open a new account online with promo code Q2BUS23 with at least $100 by June 30th, make combined deposits of $5,000 within the first 30 days, and maintain an average balance of at least $6,000 for the first 60 days of account opening.
US Bank Gold Business Checking Package$750June 30th, 2023Open a new account online with promo code Q2BUS23 with at least $100 by June 30th, make combined deposits of $15,000 during the first 30 days, and maintain an average balance of at least $15,000 for the first 60 days of account opening.
US Bank Platinum Business Checking Package$500June 30th, 2023Open a new account online with promo code Q2BUS23 with at least $100 by June 30th, make combined deposits of $5,000 within the first 30 days, and maintain an average balance of at least $6,000 for the first 60 days of account opening.
US Bank Platinum Business Checking Package$750June 30th, 2023Open a new account online with promo code Q2BUS23 with at least $100 by June 30th, and maintain an average balance of at least $25,000 for three consecutive months

US Bank Promotions & Offers

My Recommendation

US Bank currently doesn’t offer promotions on its personal accounts. It only offers bonuses on the different tiers of its business checking accounts.If you’re unsure which account to open, here’s how I suggest thinking about it:

US Bank Smartly Checking Account For Personal Use

If you’re looking for a personal checking account that pays interest and offers perks like overdraft protection and rewards, go for the US Bank Smartly Checking account. It’s a smart long-term option but doesn’t offer a bonus.

Three Options For Business Customers

If you’re looking for a business checking account that suits your needs and budget, compare the US Bank Silver, Gold, and Platinum Business Checking Packages. All three accounts offer the same bonus with the same set of conditions. You’ll be able to earn between $500 and $750 in bonuses, depending on how much you use your account. Which account to choose depends on your business’s projected cash flow.

US Bank Promotions & Offers
  • If your business is doing less than 125 transactions per month, the option that makes the most sense is the no-fee Silver Business Checking Account Package, which comes with 125 free transactions per month. However, this account has the highest cost per transaction once you exceed 125 transactions, so it’ll become a more costly option if you surpass that threshold by more than 40 transactions (i.e., if you make more than 165 transactions).
  • If you make between 165 and 300 transactions every month and fail to meet the conditions to waive the monthly maintenance fee, it’ll be better to choose the Gold Business Checking Account Package. However, if you meet the requirements, it’ll be the best option even if you make less than 125 transactions every month.
  • For larger businesses that make 500 or more transactions per month, the Platinum Business Checking Account Package is sure to be the cheapest possible option, even if you don’t qualify for the fee waiver.

Related: Tangerine currently offers a $50 signup bonus for new account holders. If you’re looking for a great online banking experience for your personal banking needs, give Tangerine a shot.

What Is US Bank?

US Bank is a full-service bank that offers a wide range of products and services for personal and business customers. It was founded in 1863 and is headquartered in Minneapolis, Minnesota. It is the fifth-largest bank in the US by assets and has over 70,000 employees.

US Bank offers checking and savings accounts, credit cards, loans, mortgages, investments, insurance, and more. It also provides online banking and mobile banking services that let you manage your money anytime, anywhere. You can also access your accounts through over 2,000 branches and over 4,000 ATMs nationwide.

US Bank is regulated by the Federal Reserve System and the Office of the Comptroller of the Currency. It is also an FDIC member, meaning your deposits are insured up to $250,000.

Related: Discover the best banks in Canada and learn how to choose the one for you.

Benefits Of Banking With US Bank

Here are some of the advantages of banking with US Bank:

#1 Competitive Interest Rates

US Bank offers competitive interest rates on its checking and savings accounts, as well as its loans and mortgages. You can earn more on your money and save more on your borrowing costs. For example, the US Bank Smartly Checking account pays up to 0.01% APY on your balance, while the US Bank Standard Savings account pays up to 0.04% APY. The US Bank Platinum Visa Card has a low introductory APR of 0% for 20 billing cycles on purchases and balance transfers.

#2 Generous Bonuses

US Bank offers generous bonuses for opening new accounts and meeting certain requirements. You can earn up to $750 for opening a personal checking account or a business checking account with US Bank. These bonuses are easy to qualify for and can boost your savings or cash flow.

#3 Flexible And Convenient Accounts

US Bank offers flexible and convenient accounts that suit your needs and budget. New customers can choose from different checking and savings accounts that offer different features and benefits. You can also waive the monthly fees on most accounts by meeting certain criteria. These include things like maintaining a minimum balance, making direct deposits, or using your debit card. Finally, you can also access your accounts through online banking, mobile banking, branches, and ATMs.

#4 Overdraft Protection And Fee Forgiveness

US Bank offers overdraft protection and fee forgiveness for its checking account customers. You can link your checking account to another US Bank account and have funds automatically transferred to cover any overdrafts. You can also enroll in the US Bank Overdraft Protection Transfer Fee Waiver Program. This will waive the $12.50 transfer fee once per year. Additionally, the US Bank will forgive one overdraft fee per year if you request it.

#5 Smart Rewards Program

US Bank offers a Smart Rewards Program for its Smartly Checking account customers. You can earn points for using your debit card, enrolling in online banking, making direct deposits, and more. You can redeem your points for cash back, gift cards, merchandise, and travel rewards.

Cons Of Banking With US Bank

While US Bank is a long-standing financial institution you can trust and has an A+ rating from the Better Business Bureau, it also has plenty of flaws which have resulted in the bank receiving a horrid 1.2 out of 5 rating on Trustpilot from almost 700 customers, 90% of which gave it a 1-star rating. These are the most common complaints.

#1 Unexpected Account Closures

Many users have complained about unexpected account closures for no reason and without warning. In most cases, the bank has taken longer than stated to return the funds to the account owner, with some users complaining they never got their funds back at all.

In several cases, users also complained they kept receiving account statements for their inexistent/closed accounts months after account closure.

#2 Unhelpful Customer Service

While in-person attention is good, remote assistance through their call center leaves much to be desired. Long waiting times of more than 20 minutes and jumping from one unknowledgeable service rep to another is a constant source of complaints from both existing customers and new ones coming from recent bank mergers.

#3 Spammy Practices

Some users also complain because they receive frequent promotional emails from US Bank even after opting out of their mailing lists.

Related: If you’re looking for a more customer-centric banking experience that’ll reward you with a $100 welcome bonus, you can use our Chime promo code.

The Bottom Line

US Bank offers decent bonuses for new business account holders with the possibility of earning either a $500 or a $750 bonus. To get the bonus, you must make at least $5,000 (for the $500 bonus) or $15,000 (for the $750 bonus) in deposits during the first 30 days of account opening and maintain as much as your average balance during your first 60 days.

While US Bank promotions & offers are decent, the bank has many issues when it comes to providing a good service to its customers. Few financial institutions have such bad user reviews on platforms like Trustpilot, which is telling of bad customer support and overall bad service, which is why I can’t, in good faith, recommend this bank to anyone. Perhaps after it beefs up and streamlines its customer service to better manage the thousands of new customers the bank received after absorbing Union Bank, State Farm, and others, it’ll be in a much better position. However, at least for the time being, my suggestion is to steer clear of this bank.

That said, if you’re interested in any of these US Bank promotions, don’t wait too long, as they expire soon. Make sure you follow the steps carefully and meet the requirements to qualify for the bonus. And remember to check with US Bank for the latest details and terms of their promotions before opening an account.

US Bank Promotions FAQs

Are US Bank signup bonuses taxable?

Yes, US Bank signup bonuses are considered interest earnings and are taxable income. You must report them to the IRS on Form 1099-INT. You should consult your tax advisor for more information on how to report your bonus income.

Do US Bank offers have expiration dates?

Yes, US Bank offers have expiration dates, and you need to open your account by the specified date to qualify for the bonus. Those expiration dates are usually quarterly, so, for example, you’ll find a US Bank promotion for Q1 between January 01 and March 31, another for Q2 between April 01 and June 30, and so on.

How long does it take to receive my signup bonus from US Bank?

It usually takes up to 45 to 60 days after meeting the qualification requirements to receive your signup bonus from US Bank. Your bonus will be deposited into your account as interest income.

What are the terms and conditions of US Bank promotions? How do I qualify?

The terms and conditions of US Bank offers and promotions vary depending on the offer and the account type. For example, you need to open a new eligible account with a minimum deposit amount and complete certain activities, such as making direct deposits, debit card purchases, or maintaining a balance. You also need to enroll in online banking or use the mobile app. You'll find the full details of each offer on the US Bank website or by clicking on the links above.

What is a “qualifying direct deposit”?

A qualifying direct deposit is an electronic deposit of your paycheck, pension, Social Security, or other regular monthly income. This deposit should be made by your employer or an outside agency. Transfers from one account to another or deposits made at a branch or ATM do not qualify as direct deposits.

Can I open multiple accounts and receive multiple bonuses?

Yes, you can open multiple accounts and receive multiple bonuses from US Bank. The condition is that you meet the requirements for each account separately and within the specified time frame. However, you cannot receive more than one bonus for the same type of account.

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