U.S. Bank is offering a $300 bonus when you apply for a checking account online with the promotion code below. This is the biggest bonus they have offered for their checking account through their online portal so get this $300 offer while it lasts!
Ninja Update 12/17/21: Offer is back, but with a two-year eligibility window compared to just one year before. I’d wait for the bigger $400 U.S. Bank checking bonus to come back or check to see if the $500 version is available to you.
Where do I enroll?
New Link (use promo code 21WEB12)
Who qualifies for the bonus?
You qualify for the offer if you live within U.S. Bank’s geographic footprint. They have over 3,000 branches and 5,000+ ATMs, so the chances are good you’re eligible.
Along with the location requirements, the offer is not valid if you’re:
- a current U.S. Bank personal checking account customer OR
- had a U.S. Bank personal checking account in the last 24 months OR
- received any bonus offers from them in the last 24 months
- $600 Citizens Bank Checking and Savings Bonus
- $400 Wells Fargo Checking Account Bonus
- $200/$1,000 Capital One 360 Savings Bonus
- $600 Chase Checking and Savings Account Bonus
- What Counts As A Direct Deposit When It Comes To Bank Sign Up Bonuses
What are the details?
You’ll receive the $300 bonus when you complete the following requirements:
- Use promo code 21WEB12 during the sign up process to open a new Platinum, Gold, or Easy checking account
- Receive recurring direct deposits of two or more that total $4,000 or more within 60 days of account opening
- Be enrolled in e-statements within 60 days of account opening
Availability: Most customers in the United States
August 31, 2020 December 27, 2021
Household Limit: 1 bonus per household
Direct Deposit Required: Yes,
$2,000 $4,000 (see what counts as a direct deposit)
Early Account Termination Fee: None
There are three different checking accounts that you can open for this bonus: their Easy checking account, Gold checking account, and Platinum Checking account.
The Easy account has a monthly fee of $6.95, Gold account has a monthly fee of $14.95, and the Platinum account has a monthly fee of $24.95. All account monthly fees can be waived if you do ONE of the following:
U.S. Bank Easy Checking Account:
- Combined monthly direct deposits totaling $1,000 or more OR
- Average account balance of $1,500 OR
- Account holder(s) age 65 or greater
U.S. Bank Gold Checking Account:
- Have a U.S. Bank credit card (like the Altitude, Cash+, or Flexperks) OR
- Have it waived by joining the Because You’ve Earned It program (requires good credit score)
U.S. Bank Platinum Checking Account:
- Have personal trust relationship with U.S. Bank Wealth Management OR
- Deposits of $25,000 or more in combined personal deposits, credit balances with U.S. Bank and/or investments through U.S. Bancorp Investments
What other details do I need to know?
Here are the official terms and conditions for this promotional offer:
- You must use the promotion code listed on this offer when you apply.
- A minimum deposit of $25 is required to open a U.S. Bank consumer checking account.
- To earn the $300 bonus offer, you must open a new U.S. Bank consumer checking account (Platinum, Gold, or Easy checking account).
- You must complete recurring direct deposits of two or more that total $4,000 or more within 60 days of account opening
- You must be enrolled in e-statements within 60 days of account opening.
- The checking account bonus will be deposited into your new checking account within 60 days of direct deposit verification and verification of enrollment in either U.S. Bank online banking or the U.S. Bank Mobile App.
- The account must be open and have a positive balance. Bonus will be reported as interest earned on IRS form 1099-INT and recipient is responsible for any applicable taxes.
- 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 years, or received other U.S. Bank bonus offers within the past two years.
- Current U.S. Bank employees are not eligible.
- Limit of one bonus per household.
The Bottom Line
This is a good offer and the highest one I’ve seen for U.S. Bank when applying online. There’s a $400 bonus they sometimes offer in the branches, but it’s really a hit or miss. You could try to see if you’re targeted in the branch, but the online process is so much easier (especially if your local U.S. Bank branch is far away).
As for which checking account to choose from, I would go with the Easy checking account. The requirements to waive fees are easier, and if you can’t waive the fee, at least the fee is smaller than the other two options.