U.S. Bank $500 Checking + Savings Bonus

U.S. Bank is offering a $500 bonus when you open a checking and savings account online with the promotion code below. This is the biggest bonus they have offered for opening bank accounts through their web site, so grab the $500 offer while it lasts!

Ninja Update 8/23/21: Offer has expired, but there’s a $400 version available.

U.S. Bank $500 Checking + Savings Bonus Overview

U.S. Bank is offering the highest bank account opening bonus they have ever done!

You’ll get a $400 bonus for opening a checking account plus another $100 for opening a savings account and complete qualifying activities.

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 if you live in the United States.

Along with the location requirement, you can’t be:

  • A current U.S. Bank personal checking account customer OR
  • Had a U.S. Bank personal checking account in the last 6 months OR
  • Received any bonus offers from U.S. Bank in the last 12 months

Related:

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:

Direct Link

U.S. Bank $500 checking + savings account bonus offer banner

What Are The Details?

Availability: Nationwide
Expiration: December 14, 2020
Household Limit: 1 bonus per household
Direct Deposit Required: $1,000 to $4,000 (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:

Enter Promo Code:

  • Use promo code 2020Q4B during the sign up process

$400 Checking Bonus:

  • Earn a $400 bonus when you open a new checking account and complete 2 recurring deposits by December 18, 2020. Bonus you receive will depend on direct deposits of two or more that total:
    • $1,000 – $1,999.99 to earn $100
    • $2,000 – $4,999.99 to earn $200
    • $4,000 or more to earn $400

$100 Savings Bonus:

  • Earn up to a $100 bonus when you open a new savings account and make deposit(s) by December 21, 2020 and maintain the balance through June 21, 2021:
    • Make deposit or deposits that total $2,500 – $4,999.99 to earn $50
    • Make deposit or deposits that total $5,000 or more to earn $100

Avoiding Fees

Checking Accounts (3 Options)

There are three different checking accounts that you can open for this bonus: 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

Savings Account (1 Option)

U.S. Bank Standard Savings:

There’s only one savings account option called Standard Savings and it doesn’t have monthly maintenance fees.

Terms & Conditions

$400 Checking Bonus

  • A minimum deposit of $25 is required to open a U.S. Bank checking account.
  • To earn your $100, $200 or $400 bonus, open a new U.S. Bank consumer checking account (excluding Student Checking and Safe Debit Account) from November 5 through and including December 14, 2020.
  • Additionally, you must complete recurring direct deposits of two or more that total: $1,000-$1,999.99 to earn $100; $2,000-$4,999.99 to earn $200; $4,000 or more to earn $400 within 60 days of account opening and be enrolled in e-statements by December 18, 2020.
  • The checking account bonus will be deposited into your new checking account within 60 days of direct deposit verification, and verification of enrollment in e-statements.
  • 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 may not be combined with any other checking account bonus offers.
  • Offer is not valid if you or any signer on the account have an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last six months, or received other U.S. Bank checking bonus offers within the past 12 months.

$100 Savings Bonus

  • A $25 minimum deposit is required to open a new U.S. Bank Standard Savings account.
  • To earn your $50 or $100 bonus, open a new U.S. Bank Standard Savings account from November 5 through and including December 14, 2020.
  • Additionally, you must make deposit(s) of $2,500 to $4,999.99 to earn $50; $5,000 or more to earn $100 by December 21, 2020 then maintain a minimum total account balance of $2,500 or more to earn $50; $5,000 or more to earn $100 through June 21, 2021.
  • The savings account bonus will be credited to your new savings account based on both balance date terms within 60 days after verification of the maintained balance.
  • Offer is not valid if you or any signer on the account has an existing U.S. Bank consumer savings account, had a U.S.
  • Bank consumer savings account in the last six months, or received other U.S. Bank savings bonus offers within the past 12 months.
  • 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 $100 more for opening the same checking account plus another $100 for opening a savings account to boot.

Overall, this makes this U.S. Bank’s best offer I’ve seen and I would definitely do it if you’re eligible.

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