[Expired] U.S. Bank $300 Online Checking Bonus

Deal has expired, view current bonus by clicking here.

Deal has expired, view more checking bonuses by clicking here.

Update 3/9/19: Bonus has started posting for people that signed up when it was first launched (January 30th, 2019). This is a great deal and I recommend signing up if you haven’t already.

Offer at a glance

• Maximum bonus amount: $300
• Availability: Nationwide. If you don’t live in U.S. Bank’s footprint then you will be denied.
• Direct deposit required: Yes, two deposits totaling $2,000 or more
• Additional requirements: None
• 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: None listed
• Expiration date: March 18th, 2019

The Offer

Direct link to offer

• U.S. Bank is offering a bonus of $300 when you open a new Platinum Checking Package by march 18th and complete the following requirements:
  • Use promo code WEB2019 (to open the account scroll down to ‘How To Earn Your Bonus’)
  • Receive recurring direct deposits of two or more that total $2,000 or more within 60 days of account opening

The Fine Print

• To earn the $300 bonus offer, you must open a new U.S. Bank consumer Platinum Checking Package between and including January 21 and March 18, 2019.
• Additionally, you must complete recurring direct deposits of two or more that total $2,000 or more within 60 days of account opening.
• The checking account bonus will be deposited into your new checking account within 60 days of direct deposit verification, 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 (limit 1 bonus per customer).
• Offer is not applicable to accounts opened at a branch or through 24 Hour Banking. Current U.S. Bank employees are not eligible.
• Other restrictions may apply.
• All regular account-opening procedures apply.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees $24.95

The Platinum checking account package has a $24.95 monthly fee. This is waived with :

• $25,000 in combined personal deposits, credit balances with U.S. Bank and/or investments through U.S. Bancorp Investments OR
• A personal trust relationship with U.S. Bank Wealth Management
• U.S. military, both former and active, can get the platinum checking without the monthly fee

Early Account Termination Fee

There is no early account termination fee to worry about

Our Verdict

U.S. Bank often offers a $200 in branch offer (grocery store branches), that offer doesn’t require a direct deposit and is much easier to keep fee free. In previous years they have also offered a $200 online bonus as well, that did require a direct deposit but it was easier to keep fee free.

This $300 is a good bonus, the problem is keeping the account fee free. You need $25,000 in combined deposits to avoid the monthly fee, not sure what the best account would be to keep that deposit in unfortunately. For me that sort of balance requirement more or less kills the deal, I guess if you don’t live in an area that does the easier $200 branch offer then this $300 bonus might be worth considering though. The other alternative is to just eat the monthly fee until the bonus posts, but keep in mind you’ll need to pay taxes on the full $300 bonus.

One thing to keep in mind is that it says the bonus will post within 60 days of direct deposit verification. It also looks like the monthly fee is waived for the first month or two. This might mean it’s possible to get the bonus without paying any monthly fees (or minimal monthly fees), making this deal significantly better. Because of that I will be adding it to our best bank bonus page.

Hat tip to reader VictorG

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