By opening a new U.S. Bank Smartly® Checking account, you can earn up to $500, and by opening a new U.S. Bank Standard Savings account, you can earn up to $200. To qualify for these bonuses, you need to complete the required activities.
Going for the savings bonus by itself would avoid a direct deposit requirement. However, savings rates are currently above 4% APY with these options so this promo won’t be a good deal.
- Update 4/4/2024: The offer has been extended through June 27, 2024.
- Update 2/1/2024: The offer has been extended through April 23, 2024.
- Update 1/18/2024: The offer has been extended through 1/31/2024. Use promo code Q3AFL23.
- Update 12/9/2023: The offer is now up to $800 with new promo code and end date. See below for more details.
- Update 10/13/2023: The offer is still available through 10/31/23. You can earn up to $4,100 with another checking & savings (money market account) you can consider. Here’s a full list of bank bonuses.
- Update 9/9/2023: Offer extended through 10/31/23 with new promo code 2023SEP.
U.S. Bank Checking & Savings $700 Offer
How To Earn The Bonus:
- To earn both the U.S. Bank Smartly® Checking and U.S. Bank Standard Savings offers, follow these steps:
- U.S. Bank Smartly® Checking:
- Open your checking account online, in a branch, or over the phone with a $25 opening deposit by June 27.
- Enroll in the U.S. Bank Mobile App or online banking.
- Complete two or more direct deposits within 90 days of account opening.
- Earn $100 when the combined total of your direct deposits is between $3,000 and $4,999.99
- Earn $300 when the combined total of your direct deposits is between $5,000 and $9,999.99
- Earn $500 when the combined total of your direct deposits is $10,000 or more.
- U.S. Bank Standard Savings:
- Open your savings account online, in a branch, or over the phone with a $25 opening deposit by June 27.
- To earn $200:
- Deposit at least $15,000 in new money by July 17.
- Maintain a minimum total account balance of at least $15,000 until October 31, 2024.
- Ensure that the funds deposited are from an external source, not transferred from another U.S. Bank product.
- Use the provided promo code (2024APR) when applying for both accounts to be eligible for the bonus.
- Where it’s available: Nationwide
Offer Expires: June 27, 2024
TRENDING DEAL:
▶ GET UP TO $3,000 WITH THIS PROMOTION FROM CHASE PRIVATE CLIENT
Waive The Monthly Fee
To waive the monthly fee for U.S. Bank Smartly Checking:
- Have combined monthly direct deposits totaling $1,000 or more.
- Keep a minimum average account balance of $1,500 or more.
- Hold an eligible U.S. Bank credit card.
- Qualify for one of the four Smart Rewards™ tiers (Primary, Plus, Premium, or Pinnacle).
- Be a military member (requires self-disclosure).
- Be under the age of 24 or over the age of 65.
To waive the monthly fee for the Standard Savings account:
- Maintain a $300 minimum daily balance.
- Keep a $1,000 average monthly collected balance.
- Hold the account jointly with a youth.
READ MORE: GET THIS CHECKING OFFER FROM FIFTH THIRD BANK BEFORE IT ENDS
Fine Print
U.S. Bank Smartly® Checking Bonus:
- You or any signer on the new Smartly® Checking account must not have an existing U.S. Bank consumer checking account, had one in the last two years, or received other U.S. Bank bonus offers within the past two years.
- Use promo code 2024APR during account opening.
- Open a new Smartly® Checking account with a minimum $25 deposit online, in a branch or over the phone.
- Enroll in U.S. Bank Mobile App or online banking within 90 days.
- Complete two or more direct deposits within 90 days:
- Earn $300 bonus for direct deposits totaling $5,000 to $9,999.99.
- Earn $500 bonus for direct deposits totaling $10,000 or more.
- Bonus interest will be credited within 60 days of direct deposit verification and enrollment in online banking. Taxes may apply. Offer cannot be combined with other checking account bonus offers.
U.S. Bank Standard Savings Bonus:
- You or any signer on the new Standard Savings account must not have an existing U.S. Bank savings or money market account, had one in the last six months, or received other U.S. Bank savings or money market account bonus offers within the past 12 months.
- Use promo code 2024APR during account opening.
- Open a new Standard Savings account with a minimum $25 deposit online, in a branch, or over the phone.
- Make new money deposit(s)
- Earn $200 bonus for deposits of $25,000 to $49,999.99.
- Earn $400 bonus for deposits of $50,000 or more.
- Maintain a minimum account balance matching the initial deposit.
- Bonus interest will be credited within 30 days of final account balance verification. Taxes may apply. Offer cannot be combined with other savings account bonus offers.
Additional Terms & Conditions:
- Limit one checking and savings bonus per eligible account.
- U.S. Bank employees are eligible.
- Offer may not be available outside the U.S. Bank footprint or through Alliance partnerships.
- Not available with Trust Accounts.
- Other restrictions may apply.
- See account pricing, terms, and policies for full details.
Bottom Line
In the past, we’ve seen a checking bonus exceeding $600. The savings bonus offered translates to an Annual Percentage Yield (APY) of 1.6%. Considering that basic savings rates are currently above 4%, this savings offer is not very competitive.
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READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.