US Bank Offers $800 Bonus for New Checking and Savings Accounts

US Bank $800 Bonus for Checking and Savings Accounts

🔃 Update: This offer is available again through March 12, 2024.

US Bank is offering a bonus of up to $800 for new customers who open a checking and savings account. There is a direct deposit requirement for this bonus, and also a large balance requirement for the savings bonus. You can open the accounts at a branch, online or over the phone. But you need to be in US Bank’s footprint to do so. It is available in most states though. Check out the details of this offer below.

How to Earn This Bonus

The $1,000 bonus comes in two parts. You can get up to $500 with a new checking account, $200 with a new saving account, and an extra $100 for completing both offers. Use promo code 2024JAN.

A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, from your employer or the government. Other electronic deposits or person-to-person payments are not considered a direct deposit. The checking bonus will be deposited into 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. Bonus will be reported as interest earned on IRS form 1099-INT and recipient is responsible for any applicable taxes.

Eligibility

• Offer is available almost nationwide. You must be in a state where they have physical branches.
• Offer is not valid if you or any signer on the account has an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last two year(s), or received other U.S. Bank bonus offers within the past two year(s).
• Current US Bank employees are not eligible.

Account Fees

Members of the military (requires self disclosure) and customers ages 24 and under and those 65 and over pay no monthly maintenance fee. All others can have the $6.95 fee waived by meeting any one of the following criteria:

• 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).

The U.S. Bank Standard Savings account has no monthly fees.

Guru’s Wrap-Up

This is one of the best offers we have seen for a personal checking account at US Bank. You need to complete $10,000 in direct deposits to earn $500.

The savings bonus on the other hand is not as enticing with the current interest rates. You need to deposit $50,000 in your new account and keep that balance for about six months to get an extra $500 bonus. That’s only a 2% APR on top of the low interest rates offered by US Bank. But you don’t have to do both offers.

Bank bonuses are a great way to earn some extra income, often from the comfort of your home. You can take a look at my bank bonus results for 2022 where I made over $6,000. If this bonus is not for you, then you can check our full list of available bank bonuses. And, if you’re new to bank account bonuses, you can learn more about churning bank accounts here.

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Link & Key Details

• OFFER PAGE
• Promo Code: 2024JAN
• Max Bonus: $800
• Account Type: SmartlyChecking & Standard Savings
• Availability: Nationwide (only states that have US Bank branches)
• Inquiry Type: Soft pull
• Opening Deposit Credit Card Funding: Up to $250
• Direct Deposit Requirement: Two direct deposits that total $10,000 or more (see what works)
• Other Requirements: Enroll in online banking or mobile app. $50K balance for savings bonus.
• Monthly Fee: $6.95 (can be waived)
• Closing Account Fee: None
• Expiration Date: 9/6/23 10/31/23 12/29/23 3/12/24

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