U.S. Bank $500 Checking Bonus

U.S. Bank is offering up to a $500 bonus when you open a Smartly™ Checking account online with the promo code below and make qualifying direct deposits.

This is the biggest bonus they have offered for opening a personal checking account so grab the $500 offer while it lasts.

Full details of this checking bonus below. Here are other U.S. Bank promotions you may be interested in.

For more current bank offers, see our bank bonuses page. The most popular offers are from Chase BankSoFi, U.S. Bank, and Axos Bank.

This post may contain affiliate links, meaning I get a commission at no cost to you if you decide to make a purchase through my links. Visit this page for more information. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.

U.S. Bank $500 Smartly™ Checking Bonus Offer

U.S. Bank is offering the highest bank account opening bonus they have ever done! You’ll get up to a $500 bonus for opening a Smartly™ Checking account and complete qualifying activities.

U.S. Bank $500 checking + savings account bonus offer banner
(Image from US Bank)

Who Qualifies For The Bonus?

You qualify for this offer if you live within U.S. Bank’s geographic footprint. They have over 3,000 branches and 5,000+ ATMs, so there’s a good chance you’re within their operational area.

Along with the location requirement, you can’t:

  • be a current U.S. Bank personal checking account customer OR
  • have or had a U.S. Bank personal checking account in the last 2 years OR
  • received any bonus offers from U.S. Bank in the last 2 years


Where Do I Enroll?

Enroll by clicking the link below, which will transfer you directly to U.S. Bank’s landing page for the $500 offer:

What Are The Details?

Availability: AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY (or nationwide for those who already have a relationship with U.S. Bank)
Expiration: 12/31/2022
Household Limit: 1 bonus per household
Direct Deposit Required: $3,000 to $6,000 (see what counts as a direct deposit)
Soft/Hard Pull: Soft
Early Account Termination Fee: None

You’ll receive the $500 bonus when you complete the following requirements:

Requirement #1 – Enter Promo Code:

  • Use promo code JL12H74 during the sign up process.

Requirement #2 – Enroll in Online Banking or U.S. Bank Mobile App:

  • Enroll in online banking or the U.S. Bank Mobile App within 60 days of opening your account.

Requirement #3 – Make 2+ Direct Deposits:

  • Earn up to a $500 bonus when you open a new checking account and make two or more direct deposit(s) within the first 60 days of opening your account. Bonus you receive will depend on the total amount of direct deposits:
    • Earn a $300 bonus when direct deposits totals $3,000 to $5,999.99
    • Earn a $500 bonus when direct deposits totals $6,000 or more

Avoiding Fees

The Smartly Checking account has a monthly fee of $6.95. The service fee can be waived if you do ONE of the following:

U.S. Smartly™ Checking Account:

  • 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) OR
  • Be a military member (requires self disclosure) OR
  • Be under the age of 24 or over the age of 65

$500 Offer Terms & Conditions

  • A minimum deposit of $25 is required to open a U.S. Bank consumer checking account. Earn a $300 or $500 bonus by opening a new U.S. Bank Smartly™ Checking account.
  • The checking account must be opened in a branch/online/over the phone. Additionally, you must enroll in online banking or the U.S. Bank Mobile App within 60 days of opening your account.
  • You must also complete two or more direct deposits within 60 days of opening your account that total: $3,000 to $5,999 to earn the $300 bonus, or $6,000 or more to earn the $500 bonus. 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.
  • Offer may not be combined with any other checking account bonus offers.
  • 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).
  • 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).
  • Limit one checking bonus per person
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

The Bottom Line

Essentially the same requirements as their $300 checking bonus offer. This promo gives you $200 more for opening the same checking account.

Overall, this makes this U.S. Bank’s best offer I’ve seen and I would definitely do it if you’re eligible. I’ll include this offer in the list of the best bank account bonuses.

About John Pham

John Pham is a personal finance expert, serial entrepreneur, and founder of The Money Ninja. He has also been fortunate enough to have appeared in the New York Times, Boston Globe, and U.S. News & World Report. John has a B.S. in Entrepreneurship and a Masters in Business Administration, both from the University of New Hampshire.

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1 year ago

Received the bonus last week. Here were my data points:
10/31/22 – Opened account, funded $25 with debit card
11/7/22 – Ally push $3,100
11/15/22 – Ally push $3,200
12/12/22 – Monthly maintenance fee -$6.95
12/12/22 – Maintenance fee reimbursed +$6.95
12/13/22 – Bonus (labeled as “Adjusted Interest”) +$500

1 year ago
Reply to  Kristen

Were you targeted by U.S Bank via mail or email?

1 year ago

If you review on the promotion page on usbank.com it does call out that this promotion is for intended recipients only and that address on mail piece must match address on file. It’s right before disclosure 1

1 year ago
Reply to  Lala

Sorry, worded differently than what I said

Jasen Sood
Jasen Sood
1 year ago

Reader beware:
I thought it was a bit odd to begin with that there’s no list of states where this offer is extended. Applying anyway as an NJ resident, my offer was rejected, but only at the very end, AFTER I had input all my personal info.

Getting through to them via phone was difficult enough, but when I finally did, they said the only reason for my rejection was due to being a resident of NJ. After ALL that? The banker was also very short with me over the phone. Right before he disconnected, I suggested they re-tool their application process to initially screen by zipcode and whether the person is a new or a prior customer, instead of first collecting wayyy more personal info than needed. He at least admitted that was a good idea.

But why bother to change anything, when the current system allows them to collect a trove of info on unsuspecting applicants for free? I’d be surprised if they did.

Perhaps after reading through the other experiences, I should be thankful I didn’t get further.

Jasen Sood
Jasen Sood
1 year ago
Reply to  John Pham

Thanks for the useful edit John! The fault is really with the bank for not making the criteria clearer. They either forgot or decided to be intentionally vague.

Wendy Brassard
Wendy Brassard
1 year ago

Hi John, I also didn’t get approved when I tried opening an account. I’ve never been a member of US Bank and I’ve never had an issue signing up for bank accounts in the past. I’m wondering if there’s a cap depending on annual income?

1 year ago

Do NH or MA residents qualify for this offer even with no physical branches in New England?

1 year ago

I have not been able to get my deposit of $500 into my account even though 4 representatives have told me I met all the requirements. Now they are saying that this promotion was only sent to certain individuals. This is happening to a number of consumers and I am looking to file a banking violation and complaint.

1 year ago
Reply to  Marilyn

Yes I agree they have screwed me too. I am thinking of filing a smail claims against them.

Pratibha malhotra
Pratibha malhotra
1 year ago

I want to open an account I will have a direct deposit monthly over 5000

2 years ago

my online application was not approved. they say they need additional information

Kandace Pierce
2 years ago

1-1-22 For some reason my online application was not approved. It did not give a reason