U.S. Bank $500 Checking + Savings Bonus

U.S. Bank logo sign on red brick wall

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!

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.

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

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:

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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