Update 3/15/20: Seems most branches either don’t have the offer or are offering $200 instead.
Offer at a glance
- Maximum bonus amount:Â $300
- Availability:Â In branch
- Deposit required: $10,000
- Deposit length: 3 months
- Interest rate:Â 0.01%
- Hard/soft pull:Â Soft
- ChexSystems:Â Mixed data points
- Credit card funding:Â Can fund up to $50 with a credit card
- Monthly fees:Â $4, avoidable
- Early account termination fee:Â None
- Household limit:Â One
- Expiration date:Â March 31st, 2020
Contents
The Offer
No direct link to offer, in branch only. Might not be available at all branches
- U.S. Bank is offering a $300 bonus when you open a savings account, deposit $10,000 and maintain that deposit for three months after funding. Promo code is ‘ELITE MONEY MARKET SP20’ or SPR 20
The Fine Print
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Standard savings account has a $4 monthly fee. This is waived:
- with $300 minimum daily ledger balance OR
- $1,000 average monthly collected balance or
- account holder(s) under age 18
Early Account Termination Fee
There is no early account termination fee to worry about
Our Verdict
Fingers crossed this is available at all U.S. Bank locations. At this stage we don’t have a lot of details, so feel free to share your experiences in the comments below.
Hat tip to reader nik
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
BONUS POSTED, EASY 200$!
Requirements met, according to past dps this bonus should post in like a week after meeting the requirement.
Can anyone share a pic of the original offer flyer? $300 was confirmed by teller when I opened, confirmed by online CS email a couple weeks a go when I asked about payout status. Today getting the runaround about it being a $200 bonus only.
Called a local branch in MO and they don’t have any saving offer.
Small correction to the posted info… promo code is “SPR 20.”
I just opened an acct in branch, and banker spun around the monitor to confirm.
$200 or $300?
$300, but see my post above about now getting runaround.
Added, thanks
I called a branch in a Supermarket in San Diego (open on Sunday). They only had the $200 offer. Must open account before 3/31 and deposit $10K by 3/31. Keep for 3 months.
(My net gain would be less than $117.50 = $200 – 0.033x$10,000/4)
called two branch in south ca, both said 200 for saving only. One said have to deposit 10k by March 31, they other said have to open by April 1 and have 60 days to deposit the money.
Seems that everyone who called got 200 offer. Where is the source for 300?
No-go in Mira Mesa branch in San Diego. They also mentioned $300 checking offer.
How many days after opening an account do I have time to deposit the money. Can it be three months?
not likely. I guess it would be 30 days
I Called a branch in MN and they said they have a 200$ savings account bonus for the elite money market account, deposit 10k and it expires march 31st.
Don’t think its worth the hassle when i can just let the money sit in a 5% account and earn almost the same amount by the time i get the bonus.
The duration for the bonus is for 3 months and 5% for 3 months is 125 dollars vs 200 dollars for the savings account bonus.
Yes but you also have to keep account fee free while waiting for the bonus which is 8-10 weeks after meeting requirements. When i could just keep the money in the 5% account and do the 50$ online basic savings bonus that they are offering.
Less work plus less money tied up.
Alright spicy you win im gonna go open this tomorrow.