Posted by William Charles on June 27, 2015
Bank Account Bonuses

Published on June 27th, 2015 | by William Charles

178

[Expired] U.S Bank $125 Checking Promotion, No Direct Deposit Is Required (+ Entry To $50,000 Sweepstakes)

Offer at a glance

  • Maximum bonus amount: $125
  • Availability: Nationwide
  • Direct deposit required: Optional
  • Additional requirements: Direct deposits totaling $500 or two bill payments
  • Hard/soft pull: Soft, chex systems inquiry will be done
  • Credit card funding: Yes, up to $500 
  • Monthly fees: $6.95-$8.98, waiveable 
  • Early account termination fee: None
  • Expiration date: August 10th, 2015

The Offer

Direct link to offer

  • Receive a sign up bonus of $125 when you complete the following requirements:
    • Open a new U.S. Bank consumer Silver Checking Package, Gold Checking Package or Platinum Checking Package
    • Complete one or more direct deposits totaling at least $500 or complete two or more Bill Pay transactions (enrollment in Online and/or Mobile Banking is required)
  • You’ll also be entered into the U.S Bank $50,000 sweepstakes, you can read the full terms and conditions here.

usbank 125 promo

The Fine Print

  • Bonus requirements must be completed within 60 days of account opening
  • Bonus will posted within 60 days of meeting the requirements
  • Cannot be combined with any other checking promotion
  • Not available to existing customers
  • Not available if you have received a checking bonus in 2015
  • All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

U.S bank has three checking products which qualify for this promotion:

  • Silver Checking Account
  • Gold Checking Account
  • Platinum Checking account

Probably the easiest way to keep this fee free is to open the Gold Checking account, if you have a U.S Bank credit card then the monthly fees on this account are waived. If you don’t have a U.S Bank credit card then your best bet is to open the silver checking account, these has a monthly fee of $8.95 ($6.95 if you enroll in paper statements) this is waived if you complete any of the following:

  • Have combined direct deposits totaling $1,000 or more or
  • Maintain an average monthly balance of $1,500

U.S Bank used to charge an early account termination fee, but they no longer charge this fee. You also need to open the savings account which has a minimum balance of $25.

Our Verdict

I completed a similar promotion in 2014, given that I received the bonus in 2014 it looks like I’ll be eligible to get this bonus as well. I love bonuses like this, they are nationwide and do not require a direct deposit AND they can be churned.

I’ll definitely be completing this bonus, fingers crossed myself or one of our readers end up winning the $50,000 sweepstakes. We’ve added this bonus to our best bank bonuses list and also our complete listing of checking bonuses.

 

Direct link to offer | Screenshot of offer

Hat tip to reader Jess



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Andre
Andre

In the avoiding fees section, I think you meant the Easy Checking is the account with the listed criteria for a fee waiver. The Silver Checking also requires to “Have a U.S. Bank Package Money Market Savings account”.

Andre
Andre

Actually, since Easy doesn’t not work for the promo, I am not sure this deal is as simple to avoid fees than the 2014 deal.

Andre
Andre

Well I ended up doing the deal. Similar to the PNC bank deals, this one you have to open a Silver checking and a Money market savings account together to meet the criteria. The savings account has a minimum balance of $25 and no monthly fees. So the only complexity to the deal is keeping an extra account active.

Source:
https://apply.usbank.com/apply/deposit/checking/regionOne/Consumer%20Pricing%20Information%20Brochure.pdf

Jesse
Jesse

Is that a requirement? I see it where you saw it…then when click open it says:

A minimum deposit of $25 is required to open a U.S. Bank checking account. To earn the $125 bonus offer, open a new U.S. Bank consumer Silver Checking Package, Gold Checking Package or Platinum Checking Package between and including June 20, 2015 and August 10, 2015, and present your Power Up 2015 promotion code. Additionally, you must complete one or more direct deposits totaling at least $500 OR complete two or more Bill Pay transactions (enrollment in Online and/or Mobile Banking is required) within 60 days of account opening. The checking account bonus will be deposited into your new checking account within 60 days of direct deposit or Bill Pay verification, as long as your account is open. 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, is not valid if you have received a checking account bonus in 2015, or if you have an existing U.S. Bank Consumer Checking Account or Package. Other restrictions may apply. All regular account-opening procedures apply. For a comprehensive list of account pricing, terms and policies, see the Consumer Pricing Information brochure and the Your Deposit Account Agreement. Deposit products offered by U.S. Bank National Association. Member FDIC. ©2015 U.S. Bank.

Jesse
Jesse

Anyone know for sure…and also is this one per household or not? Thanks.

Andre
Andre

I think I can clarify. You only need to open a Silver checking account and meet the bonus criteria to complete the deal.

But if you want to avoid monthly fees on the Silver account, you need to open the savings account I talked about AND maintain a daily balance of $1500 or more on the Silver account.

Paul Bernardino
Paul Bernardino

Looks like you can fund $1000 with Credit card when putting $500 in the checking and $500 in the money market (required to waive the fees) BUT when I tried using Discover it was declined. My cash advance limit is $500 so I am wondering if Discover will also post as CA. Will try Quicksilver and see if that works

Sharat
Sharat

Doc,
I have done similar deal in 2014. But haven’t closed the account. Am I still eligible for this new offer if I haven’t closed the account? Thanks

JB
JB

Very sweet! I was waiting for several months for such an offer as I always wanted a USB checking account (comes in handy when withdrawing cash from the Buxx card). Maintaining $1500 balance for fee waiver is easy enough. Funded with Citi double cash (CA limit $0 but went through alright).

ad
ad

Can confirm – I loaded with Citi DC (Mastercard) $1000 on June 27 also. Posted as purchase.

Bill
Bill

When you get asked if everything is okay with your account, be sure to ask them to verify the code is on your application. I lost out on the bonus last year because they said the code wasn’t on the application form, so I received no bonus. I kept the account anyway, so I will have to poke around to find out if I close the account, if I can then re-open a new account.

athensoh
athensoh

Just opened up a Silver Package with Savings options. By the way, the initial deposits can be done using a credit card without any fees! Too bad I didn’t think quickly and only deposited $50.

DRT
DRT

Dumb question. When it says you can’t have had a checking bonus in 2015, does that mean from any bank or USB?

KP
KP

Anyone having issues with acceptance in CT? They have not approved my checking account!

mark
mark

Can you get the fees waived if you have their credit card products? I thought I read you can have a free checking account if you have their credit cards.

Jesse
Jesse

Is it one per household?

Eric
Eric

Did anyone else keep the money in there all year to get the 2nd part of the S.T.A.R.T. promotion? I only have 3 months left so I am just going to keep the money in there and hope for a similar offer in 2016.

anthonyjh21
anthonyjh21

I don’t see any terms on how long you must keep the account open to keep your bonus. Is it basically open the account, get your bonus within 60 days, can immediately close as soon as the bonus posts?

Also need clarification on whether it’s 1 per household or not.

EL
EL

is there a hard pull for applying?

Jay
Jay

Doc, please find out if its one per household. I am gonna try to email them too. Can’t find any data point on this one surprisingly.

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