Deal has ended, view more bank account bonuses by clicking here.
Update 7/24/20: This offer is actually available in branch.
Offer at a glance
- Maximum bonus amount: $800
- Availability: Must live in U.S. Bank’s footprint (see also this post) and open in branch
- Direct deposit required: Yes, two deposits totaling $4,000 or more
- Additional requirements: See below
- Hard/soft pull: Soft
- ChexSystems: Mixed data points
- Credit card funding: Can fund up to $50 with a credit card
- Monthly fees: $24.95
- Early account termination fee: None
- Household limit: One
- Expiration date: August 31st, 2020
Contents
The Offer
No direct link to offer
- U.S. Bank is offering a bonus of $800 when you open a new Platinum Checking Package and Platinum Select Money Market savings account and complete the following activities:
- $400 bonus when you open a new Platinum Checking Account and make two or more direct deposits that total $4,000 or more and enroll in eStatements within 60 days of account opening
- $400 bonus when you open a new Platinum Select Money Market savings account and have $25,000 or more in deposit(s) by August 31st, 2020 and maintain a minimum total account balance of $25,00 or more through November 30th, 2020
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
This account has a $24.95 monthly fee.
- With $25,000 in combined personal deposits, credit balances12 with U.S. Bank and/or investments* through U.S. Bancorp Investments
- A personal trust relationship with U.S. Bank Wealth Management
Savings account has no monthly fees to worry about.
Early Account Termination Fee
There is no early account termination fee to worry about
Our Verdict
Public bonus is $300 for checking & $50 for savings. This is an extra $450 but obviously requires a lot more money to keep fee free and trigger the bonus. The requirements for the savings bonus are enough to keep the checking account fee free, so it’s basically $25,000+ deposited for a $800 bonus (plus obviously the direct deposit). Worth doing if you have the money spare and are targeted. We will add this to our list of the best checking & savings bonuses.
Hat tip to readers German & Derick H
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
