Established over 160 years ago, U.S. Bank is one of the oldest financial institutions, offering sophisticated mobile banking services supported by a national bank charter first authorized by Abraham Lincoln.
TL;DR
- U.S. Bank offers checking, savings, CDs, and money market accounts with competitive APYs.
- Accounts feature low minimum opening deposits and potential fee waivers for certain customers.
- U.S. Bank provides unique benefits for students, military personnel, and through its Smart Rewards program.
- The bank's presence is limited to 26 states, and free checking accounts are not available.
U.S. Bank, a major regional financial institution headquartered in Minneapolis, operates over 2,000 branches across 26 states. The bank provides several interest-bearing checking options and high-yield savings accounts, alongside money market accounts, certificates of deposit, various loan services, and a wide array of other offerings. Customers can also take advantage of regular promotions and incentives, including introductory bonuses for new checking account holders.
Here’s what you need to know about U.S. Bank.
Rates and fees current as of Nov. 18, 2025 and are subject to change.
U.S. Bank at a glance
U.S. Bank
| Checking accounts | Open with as little as $25 |
| Savings accounts | Up to 3.00% APY |
| Certificate of deposit (CD) rates | Up to 3.35% APY |
| Money market accounts (MMAs) | Up to 3.75% APY |
- Year Founded: 1863
- Company Headquarters: Minneapolis, MN
- CEO: Gunjan Kedia
Pros
- Low minimum to open a checking or savings account
- Competitive APY with CDs, savings, and money market accounts
- Frequent intro bonuses for opening an account
Cons
- Monthly maintenance fees (usually avoidable)
- Not all U.S. Bank products are available nationwide
- U.S. Bank doesn’t have a presence in all states.
Who is U.S. Bank good for?
For those seeking a comprehensive banking institution that offers a complete range of services, including personal and business accounts, credit cards, and financial counsel, and prefer to consolidate all their financial dealings with a single provider, U.S. Bank likely fulfills most of your requirements.
U.S. Bank is also a solid choice for students or individuals looking to open a joint account with a minor to impart financial literacy. Additionally, the bank provides numerous banking discounts and fee exemptions for active and veteran military personnel.
Who shouldn’t use U.S. Bank?
U.S. Bank's presence is limited to 26 states. For those who favor online banking but reside outside this service area, U.S. Bank won't be a suitable option. Your ability to open specific accounts might also be restricted by your zip code, unless you're already a U.S. Bank customer.
U.S. Bank's accounts aren't ideal for individuals seeking a free checking account, because they come with monthly maintenance fees. While it's possible to have these fees waived, it requires fulfilling certain conditions.
U.S. Bank rates and products
U.S. Bank provides standard checking and savings accounts, with distinct advantages tied to your age. It also features numerous CD term selections and bonus opportunities, though interest rates and availability differ geographically.
| U.S. Bank product | APY |
|---|---|
| Checking accounts | Rates vary by region |
| Savings accounts | Up to 3.00% (may vary by location) |
| CDs | Up to 4.00% |
| MMAs | Up to 4.25% |
| Checking accounts | |
|---|---|
| APY | Rates vary by region |
| Savings accounts | |
| APY | Up to 3.00% (may vary by location) |
| CDs | |
| APY | Up to 4.00% |
| MMAs | |
| APY | Up to 4.25% |
Bank details checked Nov. 18, 2025.
Checking accounts
U.S. Bank provides two distinct checking account choices. While it doesn't provide any free checking accounts, certain circumstances allow for the waiver of monthly service charges.
- U.S. Bank Smartly Checking: This is the bank's primary checking account offering, allowing for fee waivers and access to the bank's extensive rewards program.
- Safe Debit Account: A more limited checking account with a debit card only.
Perks based on age and military status
U.S. Bank provides certain advantages, like fee waivers, improved overdraft coverage, and additional fee exemptions for ATM use outside of U.S. Bank, based on a customer's age. The bank aims to encourage young individuals aged 13 to 24 to use their services through these kinds of features.
Additionally, U.S. Bank has partnered with Greenlight, a company providing a debit card for financial education for children, to create a system enabling parents to oversee and control their child's debit card usage via their U.S. Bank account. This system permits you to set spending limits, facilitate immediate fund transfers from your U.S. Bank account, and offers further capabilities.
U.S. Bank provides advantages for older adults and U.S. Military personnel, encompassing both veterans and those currently serving.
U.S. Bank Smart Rewards
The U.S. Bank's “Smart Rewards” program provides benefits like cash back on specific credit cards, reduced fees for certain loans, and reimbursement for some out-of-network ATM charges. This program features five levels determined by your total eligible U.S. Bank account balances.
- Bronze tier: Up to $4,999.99
- Silver tier: $5,000-$24,999.99
- Gold tier: $25,000-$49.999.99
- Platinum tier: $50,000-$99,999.99
- Platinum plus tier: $100,000+
U.S. Bank Smartly Checking account
- Minimum opening deposit: $25
- Monthly fee: $12 (after the first two statement periods). Waive fee with any of the following:
- Combined monthly direct deposit of $1,500+
- Average account balance of $1,500+
- Hold a U.S. Bank Smartly™ Visa Signature® Card
- Have an eligible U.S. Bank small business account
- Be age 13-24 years old
- Overdraft protection: With eligible linked account (savings, checking, money market, credit card, etc.)
- ATM fees: $3 for non-U.S. Bank ATM transactions
- Overdraft fee: $36 for overdrafts of $5.01 or greater
- Stop payment request fee: $35
- Cashier’s check fee: $10
- Other unique perks:
- Overdraft fee forgiveness if you bring your account current by 11 p.m. The same day
- Qualifies for increased interest rate for U.S. Bank Smartly Savings account
- Smart Rewards program eligibility, offering fee waivers, discounts, and additional bank rewards
U.S. Bank Safe Debit Account
- Minimum opening deposit: $25
- Monthly fee: $4.95 (cannot be waived)
- Overdraft protection: N/A
- ATM fees: $3 for non-U.S. Bank ATM transactions
- Overdraft fee: $0
- Stop payment request fee: N/A
- Cashier’s check fee: $10
- Other unique perks:
- Money order discounts
- Qualifies for increased interest rate for U.S. Bank Smartly Savings account
Bank details checked Nov. 18, 2025
Savings account
The U.S. Bank Smartly Savings account is the bank's primary savings option. This account is quite accessible, featuring a relatively low balance requirement and a minimal opening deposit. Additionally, its fees are modest and can be waived through qualifying actions.
To maximize the benefits of this account, you should link it with other U.S. Bank accounts and maintain a significant balance in eligible deposits. The account provides a potential APY of up to 3.00% for individuals who meet the following criteria:
- Have a U.S. Bank Smartly Checking, Safe Debit, or U.S. Bank Smartly™ Visa Signature® Card
- And have a combined qualifying balance of at least $100,000.
To initiate your child's financial education from an early age, consider opening a U.S. Bank Smartly Savings account, suitable for children of all ages. Both you and your child will need to visit a branch together to establish the account.
Bank details checked Nov. 18, 2025
Money market account
A money market account (MMA) is like a savings account that gives you improved access to your money, typically offering check-writing privileges, a debit card, etc.
U.S. Bank provides a “Elite Money Market” account, potentially yielding up to 3.75% APY for balances of $25,000 or more, applicable to new accounts or those established within the past month. Balances under $25,000 will accrue interest at a rate of 0.01% APY. Be aware that your specific return might differ depending on your geographic area.
U.S. Bank provides an IRA option for its MMA, known as the Retirement Money Market account. This account provides certain tax benefits associated with an IRA, but its highest yield is a meager 0.01% APY. Keep in mind that an existing IRA is a prerequisite for opening this account.
Bank details checked Nov. 18, 2025
Certificates of deposit
U.S. Bank provides a variety of CD account choices, such as Standard, CD Special, Step Up, and Trade Up CDs.
The impressive APY is found within its CD Specials. However, alternative CD choices might align better with your financial circumstances. For instance, Step Up CDs offer a guaranteed rate hike every seven months. Additionally, Trade-Up CDs let you secure an initial return rate at account opening, with the option to request one rate increase before maturity if APYs rise.
U.S. Bank charges the following CD early withdrawal penalties:
- Terms of less than 1 month: All earned interest
- Terms of 1 through less than 3 months: 30 days’ interest on the amount withdrawn
- Terms of 3 through less than 13 months: 90 days’ interest on the amount withdrawn
- Terms of 13 but less than 24 months: 180 days’ interest on the amount withdrawn
- Terms of 24+ months: 365 days’ interest on the amount withdrawn
The penalty you pay will not total more than interest earned on the current CD.
U.S. Bank provides business CDs featuring comparable account choices, duration periods, and APY. Nevertheless, business CDs include an extra account selection: Jumbo CDs, which provide interest rates reaching up to 3.97% and necessitate a minimum of $250,000. Keep in mind that opening a business CD is not possible online.
U.S. Bank CD Special rates
| Term | APY |
|---|---|
| 5 months | 3.35% |
| 9 months | 3.10% |
| 13 months | 3.00% |
| 5 months | |
|---|---|
| APY | 3.35% |
| 9 months | |
| APY | 3.10% |
| 13 months | |
| APY | 3.00% |
Bank details checked Nov. 18, 2025
U.S. Bank Standard CD rates
| Term | APY |
|---|---|
| 1 month | 0.05% |
| 2 months | 0.05% |
| 3 months | 0.05% |
| 6 months | 0.05% |
| 9 months | 0.05% |
| 12 months | 0.05% |
| 18 months | 0.05% |
| 24 months | 0.05% |
| 36 months | 0.10% |
| 48 months | 0.15% |
| 60 months | 0.25% |
| 1 month | |
|---|---|
| APY | 0.05% |
| 2 months | |
| APY | 0.05% |
| 3 months | |
| APY | 0.05% |
| 6 months | |
| APY | 0.05% |
| 9 months | |
| APY | 0.05% |
| 12 months | |
| APY | 0.05% |
| 18 months | |
| APY | 0.05% |
| 24 months | |
| APY | 0.05% |
| 36 months | |
| APY | 0.10% |
| 48 months | |
| APY | 0.15% |
| 60 months | |
| APY | 0.25% |
Bank details checked Nov. 18, 2025
U.S. Bank Trade Up CD rates
| Term | APY |
|---|---|
| 30 months | 0.10% |
| 60 months | 0.40% |
| 30 months | |
|---|---|
| APY | 0.10% |
| 60 months | |
| APY | 0.40% |
Bank details checked Nov. 18, 2025
U.S. Bank Step Up CD rates
| Term | APY |
|---|---|
| 28 months | – 0.05% for the initial 7 months – 0.25% for the subsequent 7 months – 0.45% for the following 7 months – 0.65% for the period after that |
| 28 months | |
|---|---|
| APY | – 0.05% for the initial 7 months – 0.25% for the subsequent 7 months – 0.45% for the following 7 months – 0.65% for the period after that |
| APY |
Bank details checked Nov. 18, 2025
Other services U.S. Bank offers
U.S. Bank provides many other financial products and services including:
- Personal loans, auto loans, and lines of credit
- Valuable rewards credit cards
- Financial advisors through U.S. Bancorp
- Business account products
- Mortgages
- Investing options
Online banking
U.S. Bank has enhanced its mobile banking services to match those of its rivals, recently earning the highest position in Javelin Strategy & Research’s 2025 Online Banking Scorecard, an assessment that examines numerous factors across leading U.S. Financial firms. This marks the second year in a row the bank has achieved this top-tier recognition.
U.S. Bank provides a comprehensive array of online learning resources, user-friendly account summaries, and a beneficial AI assistant.
The U.S. Bank platform and customer support
U.S. Bank offers a convenient mobile banking application that allows users to move money, handle bill payments, monitor their credit score, and make purchases with their digital wallet, in addition to other functionalities.
Customers can access 24-hour phone assistance at 800-872-2657. Additionally, agents are available via online or mobile banking. You're also able to schedule an appointment online for a phone, in-person, or virtual meeting with a representative.
Is U.S. Bank secure?
U.S. Bank employs various measures to protect your data and funds, such as biometric authentication, dual-factor verification, security advisories, login alerts, and additional safeguards.
U.S. Bank offers a “digital security guarantee” in which it does not hold you liable for unauthorized transactions initiated online or through the mobile banking app, so long as you alert the bank immediately.
In the event of the bank's failure, deposit insurance from the FDIC covers up to $250,000 for each account holder.
U.S. Bank user reviews
It's common for financial institutions to receive less-than-stellar online customer feedback. This is very likely due to customers being most compelled to share their thoughts when they've had a negative experience.
With this in mind, U.S. Bank score a mere 1.2 of 5 stars on Trustpilot from 1,310 reviews. Negative reviews revolve almost entirely around what the writers say was poor customer service.
Users on Reddit offer a more positive view, frequently commending the bank for its polite branch staff, user-friendly digital banking, and the availability of welcome bonuses upon account creation.
Compare U.S. Bank alternatives
Although Capital One purchased Discover in 2025, the companies have maintained separate operations and distinct product lines since that time.
 U.S. Bank |  Discover Bank |  Alliant Credit Union |
|---|---|---|
| Checking account APY | Checking account APY | Checking account APY |
| Varies by region | Not interest bearing (but debit card that earns up to 1% back on purchases) | 0.25% |
| Savings account APY | Savings account APY | Savings account APY |
| 3.00% | 3.40% | 3.10% |
| CD APY | CD APY | CD APY |
| 3.35% | Up to 3.50% | 4.10% |
| Top MMA APY | Top MMA APY | Top MMA APY |
| 3.75% | N/A | N/A |
| Learn more | Learn more | Learn more |
| View offer at MoneyLion | View offer at Discover Bank | View offer at MoneyLion |
Bank details checked Nov. 18, 2025
Is U.S. Bank right for you?
For those residing in the 26 states where U.S. Bank provides its complete range of offerings, this bank could be a suitable choice if you're seeking competitive Annual Percentage Yields (APYs) on savings accounts, Certificates of Deposit (CDs), or Money Market Accounts (MMAs). Additionally, you'll have the convenience of managing your account in person at a branch.
This is also probably a great choice for those looking to educate children or teenagers about finances, since it allows for the creation of shared accounts that you can manage for your kid. It even includes complimentary fees and other perks specifically for them.
For individuals seeking the ease of round-the-clock customer support, U.S. Bank is a suitable choice, as this isn't a service provided by every financial institution.
Frequently asked questions
U.S. Bank operates branches across which states?
U.S. Bank offers branches in Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin, and Wyoming.
What's the price to start a U.S. Bank account?
U.S. Bank doesn't charge any extra fees for opening a savings or checking account, though a $25 minimum opening deposit is necessary.
To open a U.S. Bank savings account, what's the lowest balance you need to have?
To establish a savings account, a minimum deposit of $25 is required. However, there's no set balance you must keep to avoid account closure; typically, financial institutions simply want to see some activity to confirm usage.
Does U.S. Bank operate in every one of the 50 states?
U.S. Bank provides a variety of products across all 50 states, though not every offering is available everywhere. To determine your eligibility for specific accounts, you'll need to input your ZIP code.
U.S. Bank offers round-the-clock customer support via telephone.
Yes, you can contact U.S. Bank any time by calling 800-872-2657.