Posted by William Charles on December 5, 2019
Bank Account Bonuses

Published on December 5th, 2019 | by William Charles

26

U.S. Bank Business Checking Customers ‘Analysis Service Charge’ (Paper Statements)

Reader Tanya sent in an e-mail saying that she opened a U.S. Business checking account for the sign up bonus earlier this year. When she was doing a routine inspection of her account she noticed a fee for $5, the description of which is ‘Analysis Service Charge’. Tanya was told that this fee is being charged for the paper statements, I would have thought it would have made sense to change the description to ‘paper statements’ or something similar but apparently not. Others have run into a similar issue before and despite contacting U.S. Bank they have been unable to get a clear answer as to what this fee is charged for, thus this post.



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Mike
Mike

I think PNC also charge same ( Analysis) fee – rip off. PNC is not $5 it’s more than that.

Frito Pendejo
Frito Pendejo

I just checked my pnc statement and i dont see any charge. I have paper statements with ‘virtual wallet with performance select checking’. … opened solely for bonus

Frito Pendejo
Frito Pendejo

Oh, mine is personal. Dunno about biz

YoniPDX

FWIW: I was charged $8 (included $3 fee for digital image of processed checks).

I did get 2 months reversed – but they do hide the information on the paper statement at the very bottom of 2nd page and its very busy and obfuscated – I agree they should just call it monthly printed statement fee.

You can see the fee even though it is abbreviated English (not sure if that’s even legal):

SS : http://flic.kr/p/2hVmzhp

That said US Bank sure loves their fees, got charged $20 plus $2 min interest when a merchant processed a small transaction on USB AR mobile payment- got charged as if a CA – they reversed it but wow – for “most ethical…”claim you would think US Bank would be more upfront and transparent with fees.

I can’t remember the last time I paid a bank fee or got ding on things I was expecting to be free or no charge – I guess they opt everyone into paper statements and or check images.

Dan
Dan

Business accounts don’t have the protection of consumer accounts, so these bullshit fees are common

Andy
Andy

I was getting $20/month fee for doing an ACH from Alliant. They said they were treating it as a wire transfer. Called, complained, got refunded, and closed my accounts.

YoniPDX

When I googled the fee that is what came up in the search – that was the first month (so I thought it was the fee for ACH for the MMA).

I figured hey the bonus is now $392 but then I had no transfer the 2nd month so I went in to a branch an got it reversed.

David Vasquez
David Vasquez

Once you move out of the small business type checking accounts, and into the types of accounts larger businesses have, banks use a billing system called Account Analysis. I’m not familiar with U.S. Bank specifically, but this is how it works across the industry.

Unlike a consumer account, business accounts generally don’t have unlimited volumes permitted. Under an analysis structure, every activity has a charge, a few cents for each check, a few cents for each ACH, etc. There’s also usually some kind of baseline monthly service charge/maintenance fee as well. Those charges are offset by an earnings credit based on the balance in the account, essentially soft interest credit that can only be used to pay fees. If the balance is high enough, there won’t be any fees charged. If there’s a deficit it’s charged at the end of the month. So while one of the itemized fees might be for a paper statement, it’s a bit disingenuous to say the analysis fee is a paper statement fee. Larger businesses may be able to negotiate some of the individual service charge prices or the earnings credit rate.

The solution is to request that you be moved to an account that isn’t “on analysis.” Most banks have small business accounts that work more similarly to consumer accounts when the volumes are low. Something along the lines of no fees if the balance is above X and the volumes below Y. You typically wouldn’t need to be on analysis unless the account volumes were high, or you were using some of the more complex treasury management services offered by the bank, as the analysis process is essentially the bank’s billing system.

Hari
Hari

Makes a lot of sense but this should be something the consumer be aware of on the first place. Great that DoC got this out for us to even know such thing exist and this comment.

David Vasquez
David Vasquez

I should add the bank should be able to provide a separate “analysis statement,” which is basically an itemized bill showing exactly how they calculated the fee charged. It’s separate from the regular bank statement.

YoniPDX

That was one of the things that was attractive about this deal is that there were supposed to be no monthly fees on Silver business checking account.

Guy who buys stuff
Guy who buys stuff

Banner outside my nearby USB reads– “US Bank has been named one of the 2019 World’s Most Ethical Companies by the Ethisphere Institute, a global leader in defining and advancing the standards of ethical business practices.”

Kind of makes you wonder where the bar is when they obfuscate a line item fee on a statement.

Ken
Ken

Duh, they shut down unethical people who buy gift cards.

JohnnyBoyJr
JohnnyBoyJr

“Ethisphere Institute” — probably a division of US Bank! 😉

john m
john m

I got my $500 bonus from them. I was in and out in 2 months. F–k ’em.

MikeTheCreator
MikeTheCreator

Mine was 34$ Lol. But i scored 500$ off them so it is what it is.

YoniPDX

.

YoniPDX

I’m not complaining, even with the hassle, $400 biz bonus, $300 x 2 on Personal accts bonus and $1K+ for airline for the USB AR SUB @ 1.5cpp using to booked two F seats on Emirates A380 – its only 3.5 hours but enough time to give the Emirates suites, shower and lounge in the sky a whirl and check-off curiosity bucket list CHC – SYD plus a nice chunk of AS miles.

adam d
adam d

call in, downgrade to silver, they will refund the fees. the point of this game is never to settle for any fees.

MikeTheCreator
MikeTheCreator

Yea they refunded 14$ of the fees, but i guess it depends on the customer service rep you get some will help you and some just hate there job LOL.

John
John

Us bank sucks. Fees fees and more fees. Terrible unstable app to top it off. Who uses this bank?

Geemo
Geemo

Same with real estate syndication…..lol.

Shady US Bank
Shady US Bank

When I first started my business, I opened up a small US Bank business account, and I started receiving payments via wires when I noticed “Analysis Service Charge”. I inquired about what it was, and they said it was for wire fees. As soon as I got them reversed, I took my account to another bank that doesn’t hide fees beside some bs description.

adam d
adam d

us bank charged me $20 for this fee on a gold checking biz acct i received a targeted maielr for $500 bonus.i downgraded 2days ago to silver, they refunded me the $20 fee, and the 3 $15 savings acct monthly charges. i closed the savings.

Jeff
Jeff

I just closed my accounts with US bank, they have been charging me fees that even my banker can tell me why.

Charles Mann
Charles Mann

They also charge $3 for an ACH outbound “push” transfer, so you will save money if you “pull” from another bank.

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