Posted by William Charles on February 12, 2020
Bank Account Bonuses

Published on February 12th, 2020 | by William Charles

224

U.S. Bank $300 Online Checking Bonus

Offer at a glance

The Offer

Direct link to offer

  • U.S. Bank is offering a bonus of $300 when you open a new checking account package and complete the following requirements:
    • Use promo code 2020Q1C
    • Receive recurring direct deposits of two or more that total $2,000 or more within 60 days of account opening
    • Be enrolled in either U.S. Bank online banking or U.S. bank mobile app by April 7, 2020

The Fine Print

  • You must use the promotion code listed on this offer when you apply.
  • A minimum deposit of $25 is required to open a U.S. Bank consumer checking account.
  • To earn the $300 bonus offer, you must open a new U.S. Bank consumer checking account (excluding Student Checking and Safe Debit Account) online by March 31, 2020.
  • Additionally, you must complete recurring direct deposits of two or more that total $2,000 or more within 60 days of account opening and be enrolled in either U.S. Bank online banking or the U.S. Bank Mobile App by April 7, 2020.
  • For assistance in enrolling in U.S. Bank online banking or the U.S. Bank Mobile App, contact customer service or your local branch.
  • The checking account 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.
  • 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 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.
  • Current U.S. Bank employees are not eligible.
  • Other restrictions may apply.
  • All regular account opening procedures apply.
  • Limit of one bonus per household.
  • 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

This 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

This is a somewhat frequent offer and basically the best checking bonus that U.S. Bank offers.  Definitely worth doing if you haven’t already done this bonus, we will be adding it to our list of the best checking bonuses. There is a $400 in branch bonus, that is sometimes available but that is very YMMV.

Hat tip to reader Swirl

Useful posts regarding bank bonuses:



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Geeta
Geeta

My application was instantly denied:
“Thanks for considering U.S. Bank.
Please print or save this page for your records.
Unfortunately, your application was not approved. You’ll receive a letter explaining why your application was declined. For your security, you might also receive an alert that you submitted an application.”

dk
dk

I got denied instantly as well and there is a US bank location right by my house lol

Shawn
Shawn

Chex/EWS sensitive maybe?

BB
BB

Same here – NJ H1-B temp resident

Billy B
Billy B

You have to go back

Sahil
Sahil

That is not a nice thing to say

Raj
Raj

I assume he meant you have to go back to the branch 🙂

67
67

Yes, every American except original Indians should go back

Matt
Matt

same…

Anne Marie
Anne Marie

Same

George
George

Samesies

AJ
AJ

Same for P2

Dan
Dan

I was approved.. I’ve been denied once before for a savings account at a different bank due to an account closing in the negative ($-1) on my record. No issue here.

christian
christian

Also got this last time i tried to open an account for their last promo… (i want to say in december/early janurary) Never did get a letter saying why… There is a US bank in town, but it is a “private” one… so maybe that did not count as in their footprint?

Tara Alexander
Tara Alexander

I received the same response and called. I was told because I don’t have a branch near me that I can’t have an account.

Joe
Joe

I live in NJ.
I remember someone says NJ resident can not qualify the US Bank sign on offer.
Is this true?
Thanks.

Charlie
Charlie

I have heard that US Bank only wants customers from the states where they have brick and mortar branches. Is this still true?

Chad
Chad

I’m also in NJ and was denied in November.

Wowzera
Wowzera

Can’t apply in branch? I’m traveling soon to a city that has a US Bank branch, but dunno if they’ll accept me with my billing address in Orlando, FL.

Ren
Ren

I was denied twice last year as an NJ resident. I won’t be trying again.

abhirup Chakraborty
abhirup Chakraborty

Yes, I had asked the same question last time, no luck for us in NJ, this would have made getting the AR so much easier and tempting.

dizzy

What about PA? Same same?

Novacat05
Novacat05

Applied in NJ, instantly denied as well.

Eric
Eric

Do you have a USB credit card?

Nick2702
Nick2702

If I opened a US Bank credit card in the last year and received a bonus, does that count as having “received other U.S. Bank bonus offers within the past 12 months”?

Chris H
Chris H

No. you can still get a checking bonus.

Brach
Brach

I assume you received the credit card bonus offer the same day the credit card account was opened.

If so, then if the credit card account was opened within the past 12 months, you are not eligible for this checking account bonus offer.

AdamZ
AdamZ

Closed the account at 3/22/2019 last year. Do I qualify for the bonus if I apply after 3/22 but before 3/31? Term says 12 months, not sure if that means 365 days.

Lc
Lc

In exact same boat as you…will anyone know this? I mean I guess we can try and worst case scenario have to wait 6+ months for another offer again.

LC
LC

i would hope it would mean 12 months, but depending on what system you are using like WF CC every 15 months.. or citi similar card product every 24 months.. For Citi I know it works if you signed up for it 24 months + 1 day but i would never chance it this close since Citi can’t “count”.

There may be a reason they offer it till 3/31/20 which could disqualify any of those that got it in March last year. Although I dont think US Bank is particularly that savy and i am sure if its been 366 days it SHOULD work, but YMMV. If anyone has ANY experience on this, i am sure a good majority of doc readers would like the data point.

Thank you!

Raj
Raj

Lets say you closed it any day in March of 2019, then you are eligible only in April of 2020 as I had similar case when asked at branch guy told I wont be eligible.

SamL
SamL

Read terms: bonus+12mo or close+6mo.

SamL
SamL

@AdamZ @LC
When did you actually get the bonus?

LC
LC

3/10/19. i am thinking i need to wait until 4/1/20 to be safe. so hopefully they extend it. With the amount of denials here so far, i wouldnt be surprised if they do.

RY
RY

Also the same as I received the bonus on 3/10/19. I’m going to apply at the end of March and pray

LC
LC

although… do you think maybe wait and see if they extend to summer like they did last time? I think that might be the safest.

Eric
Eric

In my records I have it down I received the last bonus “around 3.25.19”. Do you know of any way to confirm the exact date? I know I should have written it down at the time but for whatever reason did not.

Brach
Brach

The date that is 12 months from mm/dd/yyyy is always mm/dd/yyyy+1, even is yyyy is a leap year.

Brach
Brach

Offer is not valid if you or any signer on the account
1) has an existing U.S. Bank consumer checking account, OR
2) had a U.S. Bank consumer checking account in the last six months OR
3) received other U.S. Bank bonus offers within the past 12 months.”

If you closed the account on 3/22/2019, then it’s been closed for more than 6 months. So #2 is not an issue.

If you opened the account to enroll in a bonus offer, then simply add 12 months to the date you opened the account to determine whether or when you would be eligible to enroll in this new offer.

E.g., 12 months added to 1/15/2019 is 1/15/2020. Just add 1 to the year number. Don’t add days.

.

.

Yz
Yz

The link to the $400 offer says it’s expired.

Daniel
Daniel

Applied and got rejected. First time being rejected for a checking account.

J T
J T

To expand on monthly fee waiver: having any US Bank credit card or line of credit (overdraft reserve, home equity, etc) should qualify for a fee waiver for any of their checking account types. Though you may have to ask; I started receiving the monthly fee on a previous checking account opened for a bonus even though I already had a card account.

Rody
Rody

How strict are they about the one per household rule? Was hoping to open one under my name and have my wife open one as well.

LC
LC

hmmm was this a requirement last year? Because 4 people in our house were able to get it in 2019. Unsure if this is new or will be enforced or not.

Jake
Jake

It was listed last year and i got P1 & P2 bonus (plus a business bonus). Doesn’t sound like it was being enforced last year.

LC
LC

so if this wasnt enforced.. maybe the once per 12 months isnt? Or maybe at day 365 it is “safer”.

Wont be able to try until at least 3/9, will probably wait a week later and try on 3/16 for everyone. Wish us luck

anthonyjh21
anthonyjh21

keep us updated please 🙂

Sparky
Sparky

P2 received bonus in 10/2019. P1 received bonus in 3/2020. In VA. and have flex cards under each player. To send money without paying $3 for the transfer fee use this method: On the top of the site select send money and then sent to account. $1500 daily limit initially.

EagleFox718
EagleFox718

Not eligible if you “received other U.S. Bank bonus offers within the past 12 months.” — Is that limited to checking/savings offers, or does it also include credit cards?

Staradmiral
Staradmiral

Does NOT include credit cards

Matt
Matt

To add onto this question (which has been answered), how about business checking bonuses?

Dave
Dave

I have the same question, would a biz checking bonus count here?

VM
VM

How about NY?

Spin
Spin

Live in NY. Denied last year.

yvrite
yvrite

I live in NY and got it, perhaps because of holding a credit card.

Note that US Bank charges for initiating ACH pushes–if you want to use their account in conjunction with another, you’ll need to initiate all movement on the other bank’s end. Annoying!

DenialRevival
DenialRevival

I tried to apply today. I was denied in Upstate NY.

Ralph Hendry-Wabel
Ralph Hendry-Wabel

What mans U.S. Bank footprint? Where they have a physical branch? Or do ATM’s listed in their location search count as well?

Ralph Hendry-Wabel
Ralph Hendry-Wabel

I guess Texas is a no go
“Unfortunately, your application was not approved. You’ll receive a letter explaining why your application was declined. For your security, you might also receive an alert that you submitted an application.”

Shawn
Shawn

Previously applied/approved in TX on a prior offer. However, also have mortgage.

vc
vc

I got the same message for a different offer, but i never got the letter or email. i’m assuming i was declined bc of the area or bc of chex/# of bank accts.

chuck
chuck

The previous post for the same deal suggests that NYC residents will be denied. If anyone from NY has success, please post. Thanks.

yvrite
yvrite

I just posted this above, but I did. Had a Cash+ card already, so that may have helped.

reallove
reallove

Data point on the availability restriction: I live in ME and there is no US Bank presence here (no branch, no US Bank ATM). I tried to apply online, but the form was constantly stuck at one of the steps, so I called them. I got approved for the checking account (with this bonus) with no issues. My only existing relationship with US Bank is the Radisson Rewards Visa card.

Michigan Resident
Michigan Resident

Denied. Guessing this is Chex sensitive.

V
V

Any of these banks kid friendly, for online savings applications ?

I tried to do a joint account with PNC for my kid and they wouldn’t accept a US passport as ID for the child. They insisted on a driver’s license or state or military ID.

I did not want to go into the bank with a kid, too much hassle.

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