Update 4/24/25: U.S. Bank is now sending out an email to Smartly checking account holders that the Smartly checking account WILL have its monthly fee waived when holding a Smartly credit card, an apparent reversal from the prior announcement. The email also mentions that holding the checking account will continue to waive the fee on the Smartly savings account. And that there’s a new ATM fee waiver benefit for Smartly checking account holders for the first two non-U.S. Bank ATM transaction per statement period. (ht JD and Robert)
Original Post 3/11/25:
U.S. Bank is making changes to the U.S. Bank Smartly Checking account. Effective May 19, 2025 the monthly fee will be changing to $12 (previously $6.95) and the fee waives are changing:
- Have combined monthly direct deposits totaling $1,500 or more (was $1,000)
- Keep a minimum average account balance of $1,500 or more
Hold an eligible U.S. Bank credit card(no longer offered)- Account owner of an eligible small business checking account (new)
- Seniors age 65+ and military
- Those enrolled in Smart Rewards with Gold tier status (balances $25k+)
Main change is that holding a U.S. bank credit card no longer waives the fee. This account currently comes with a $450+ bonus. U.S. Bank smartly does have some ongoing deals so some people keep the account for that.
View Comments (182)
I already have two other USB credit cards open with fairly high limits, including one I use every month. I have my main direct deposit going to another bank. Not sure why opening a new credit card would be necessary just to waive a $12 fee. Instead of USB making a reasonable exception to waive the fee and keep a good customer, they'll just have another closed Checking account. The change doesn't make much sense.
note that the only card that gets the fee waived is specifically the smartly card- other us bank cards still don't work to have fees waived, and (according to the banker i spoke to in-branch) they will pull credit/make you apply for the smartly card even if you just want to product-swap to it
Already closed my checking account after seeing the news that CC terms have nerfed and yes I noticed the fee will be canceled for the credit card holders but I did not want to apply a new credit card with low SUB and not much other benefits US Bank can offer for me. I had SUB offer via my state farm agent (which was low) now it even cancels monthly maintenance fee with state farm as well. So does it worth to cancel the account closure and keep it open...
can someone post the email from usbank. (not the state farm card one), i havent received that email. the one i have on my last statement on the 25th has the one with the credit card waiving the fee line crossed out
I missed the email but it is disclosed on my April & March statements.
See the pdf here: #2048692
i see the one for military will not change, but mine still shows that credit cards including smartly credt card will not count torward waiving the fee as i am not military or state farm as it would be the generic one and mine still has the link to the generic one, so that it will change on may 19th as will others who are not militray or state farm as state farms seem to indicate it will last through end of year
finally got the email about the changes that included the smartly credit card.
i am not in one of the groups (state farm, military) jsut have the smartly credit card. same pdf as what jd posted
https://image.email.usbank.com/lib/fe9515747366007e73/m/1/34c05842-8eff-4ab6-8fc2-736e0ee5419c.pdf
JD, are you still pushing your make believe pdf for USB? BoA is not going to like that.
Us bank spent so much money trying to get new customers, then they gave up on that and now someone realized the value in that and scrambling to keep at least some of them. Typical for us bank
Is Smartly Savings account free without Smartly checking account? I do have Smartly credit card
Finally able to give a legitimate reason to close checking accounts to the bank staffs as I have been churning US bank checking accounts for years
There is language on the email that those who signed up through State Farm Alliance will have the monthly fee waived until the end of the year, and you can continue to have it waived if you hold a State Farm credit card.
Too late card is trash
It's only trash for new cardholders subject to the updated terms.
While I successfully closed my checking account, I still have an active US bank account. Will that impact my ability to churn future deals? Would appreciate input :)