Posted by William Charles on January 10, 2020
Bank Account Bonuses

Published on January 10th, 2020 | by William Charles

153

[Expired] U.S. Bank $200 Checking & $200 Savings Bonus [Last Day]

This promotion has now ended, view more bank bonuses by clicking here

Offer at a glance

The Offer

Direct link to offer

  • U.S. Bank is offering a bonus of up to $400 when you open a new checking & savings accounts when you use promo code FREND19. Bonuses are as follows:
    • $200 checking bonus:
      • Open a new Platinum, Gold or Easy checking account
      • Complete two or more recurring direct deposits that total a minimum of $2,000
      • Enroll in either U.S. Bank online banking or the U.S. Bank Mobile App within 60 days of account opening
    • $200 savings bonus:
      • Open a new Platinum Select Money Market Savings or Elite Money Market account
      • Have total deposit(s) of $10,000 or more by January 10, 2020 and maintain a balance of $10,000 or more through March 10, 2020

The Fine Print

  • To earn the $200 bonus offer, you must open a new U.S. Bank consumer checking account (excluding Student Checking and Safe Debit Account) between and including December 5, 2019 and January 10, 2020. Additionally, you must complete recurring direct deposits of two or more that total $2,000 or more and be enrolled in either U.S. Bank online banking or the U.S. Bank Mobile App within 60 days of account opening. Talk to a banker for assistance in enrolling. The checking bonus will be deposited into your new checking account within 60 days of direct deposit verification, and verification of enrollment in either U.S. Bank online banking or the U.S. Bank Mobile App as long as your account is open and has 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 has 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 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

Avoiding Fees

Monthly Fees

Easy Checking

his account has a $6.95 monthly fee and is waived if you meet any of the following requiremnets:

  • Combined monthly direct deposits totaling $1000+ – or –
  • Average account balance of $1,500.- or 
  • Account holder(s) age 65 or greater.

Gold Checking

This account has a $14.95 monthly fee but is waived if you have a U.S. Bank credit card. Many of us have a U.S. Bank personal credit card like Altitude, Flexperks, or Cash+ which would work to keep the account fee-free. Another option is to get the Gold account and get the fee waived if you have a good credit score and join the Because You’ve Earned It program. 

Early Account Termination Fee

There is no early account termination fee to worry about

Our Verdict

You can frequently do the checking bonus but it’s normally $300 (although we recently saw $400 in branch), so the savings bonus is really only $100.  Basically need $10,000 invested for ~60 days to trigger the savings bonus, that works out to be roughly 6% APY for that 60 day period. Worth doing and I guess slightly better than the standard bonus. If you’re not going to do the savings portion of the offer I’d recommend just waiting for the $300 bonus to return. I will add this to our best checking & savings bonus.

Hat tip to jojool

Useful posts regarding bank bonuses:



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ND
ND

Can I do savings alone? I just opened the checking account(for $400 checking bonus).

Shaun
Shaun

I have the same question. Restrictions seem to only be listed under the checking fine print.

Betelgeuse ㊙️

I agree.
Maybe eligible for savings offer. But the elite money market has 10$ fee which needs 10k balance to avoid. The term says they will pay 6-8 weeks after conditions are met so may have to pay 2-3 month of fees or leave the 10k there.

John
John

Same question.

Beat2Def
Beat2Def

Yup. I’m there too.

veeRob

One of us is going to need to be the guinea pig…

:)
:)

I already did the bonus in the past. Can I do it again? Can I just do the savings part?

Matt B
Matt B

I don’t see any language about a household limit. Am I missing it?

Jon
Jon

Thanks for the heads up!

The details say one per household but landing page fine print says one per customer

joe
joe

where does it say anything about living in their footprint? i didnt find anything in the FP

Gadget - Bank Bonus Geek 🕵️

Search DoC for the most recent US Bank Checking promo and read the DP’s. You can apply, and it won’t stop you at any point, but unless you have an existing CC, you get denied out of footprint.

Tony
Tony

Is there anybody know how fast they post the bonus? I completed 2 bluebird deposit for $300 promo about 10 days ago and still not received bonus yet. I see many people got the bonus on 12/5.

qmc
qmc

See previous threads. There’s a requirement and a time period mentioned. Mine was about that time frame. Very few post bonuses that immediately.

CD
CD

Application declined. Location: NJ

binaryinfo
binaryinfo

Declined because of “out of footprint” or your chex?

ashely
ashely

I closed my former checking 9/22/2019. Am I still qualified for this time?

Looney Tunes
Looney Tunes

Terms at the bottom of the page state:

“Offer is not valid if you or any signer on the account has 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 bonus offers within the past 12 months”.

So no, doesn’t look like you would be qualified.

Betelgeuse ㊙️

I think that’s true for the checking offer. Maybe still be eligible for savings offer. But the elite money market has 10$ fee which needs 10k balance to avoid. The term says they will pay 6-8 weeks after conditions are met so may have to pay 2-3 month of fees or leave the 10k there.

Looney Tunes
Looney Tunes

Yes, surprisingly it doesn’t say anything about any bonus limitations on the elite money market account so guess that might be an option.

Student of Credit
Student of Credit

Would like to do both, but how to avoid fee for Elite Money Market. Just cancel the account once bonus is posted?

*** Elite Money Market Requirement to waive the fee: $10,000 minimum daily ledger balance.

wilsonhammer
wilsonhammer

Downgrade the MM account after bonus posts

Sandy
Sandy

Could someone define footprint in miles or other explanation?

Gadget - Bank Bonus Geek 🕵️

In recent US Bank checking promos (last couple years), you needed to live within footprint… something like 50 miles from a real US Bank branch, not an ATM (like they have in some Texas areas). The application won’t stop you from applying, but you are denied with little explanation as to why, I believe.

If you have an open US Bank personal CC, most are approved nationwide for these checking promos, if history repeats itself. AFAIK, this is a first ever savings bonus.

Sandy
Sandy

Thank You, Gadget

mark
mark

OK, currently have a checking account with us bank. Applied for the elite money market account. Application was NOT approved.

Betelgeuse ㊙️

Did they say they will send any explanation for the denial?

Charles Mann
Charles Mann

I also have a checking acct with them, applied yesterday for an Elite MMKT and was approved a few minutes later. My CHEX has many recent accounts. YMMV.

Shirley
Shirley

Charles Mann when you applied were you able to login and have your information prefilled? Whenever I try to do that it keeps telling me:

“We’re sorry. We’re temporarily unable to prefill your information. Please start your application by entering the information below”.

Just wanted to find out if it is me or everybody having the same issue.

Charles Mann
Charles Mann

Yes the same problem, so just fill it out manually and remember to enter the offer code (I think it’s FREND19).

Shirley
Shirley

Thanks, that’s what I intend to do.

DAVE
DAVE

DP: Live in NY, and of course declined… Don’t have any CC, considering apply for one

Alan
Alan

I apologize for the off-topic but every now and then I feel so grateful for this website, William Charles, and all the posters for all their time and effort for sharing these deals and informative posts!
This is the absolute best website on the internet!
Thanks again, Happy Holidays, and have an awesome 2020!

Appna Desi
Appna Desi

I 100% agree with you .I am thankful i found this website and it as share huge knowledge ,money earning and saving both 🙂 .. Happy holidays

DP719
DP719

Agreed this is one of the two best websites on the internet! I am also a fan of Deposit Account.

Thanks, DoC and Happy Holidays to everyone!

Charles Mann
Charles Mann

Indeed! Merry Christmas and Happy New Year to all!

Jay - ⒿⒶⓨ 🙈 🙉 🙊
Jay - ⒿⒶⓨ 🙈 🙉 🙊

For those who have a Checking account already:

Now being a few days in, has anyone had success opening a SAVINGS account only?
(I suspect the Elite Money Market Account is the only option?)

Was at 2 US Bank locations today (within supermarkets), but both tellers confirmed it’s an online promo only, and therefore they could not tell me any info if just a Savings would work… 🙁

Sander
Sander

I think you can do it in branch. Just show them below sentence:

“Limit one checking and one savings bonus per customer. Offer is applicable to accounts opened at a branch or online only. “

Charles Mann
Charles Mann

I did it online yesterday and was approved in a matter of minutes.

JohnyBGood
JohnyBGood

For savings only since I already opened a $300 checking account offer. I suppose I’ll open closer to January 10th due to losing money my 10k would be receiving in a high yield savings account. Does this sound about right?

DP719
DP719

859390 – Am also doing Savings only because I recently received the $300 checking bonus. Opened Elite Money Market with $100 (required minimum) yesterday, just in case there were issues which I could then resolve in the next two weeks. Will deposit $10k near January 10.

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