[Expired] [YMMV] U.S. Bank $200 In Branch Checking Bonus

This deal is no longer available, view more checking bonuses here.

Update: Looks like this isn’t available and was part of some special employee deal. Not sure why our reader was able to get it.

Update: I have been told this is for all “in-store” branches, those branches that are inside a grocery store or other store, not applicable for on-site “college campus branches” or “traditional” standalone branches.

Offer at a glance

Maximum bonus amount: $200
Availability: In branch only [Branch locations]. They have states in AR, AZ, CA, CO, FL, GA, IA, ID, IL, IN, KS, KY, MN, MO, MT, ND, NE, NM, NV, OH, OR, SD, TN, TX, UT, WA, WI, WY
Direct deposit required: Yes, $1,000+ within 60 days
Additional requirements: None
Hard/soft pull: Soft
ChexSystems: Mixed data points
Credit card funding: None
Monthly fees: $10.95-$12.95, waivable
Early account termination fee: None
Household limit: None mentioned
Expiration date: April 30th, 2018

Contents

1 The Offer
2 The Fine Print
3 Avoiding Fees
4 Our Verdict

The Offer

No direct link, offered in branch only (apparently all U.S. Bank branches have this offer)

U.S. Bank is offering a bonus of $200 when you open a new consumer checking account between March 1st and April 30th when you complete the following requirements:
- Receive direct deposits totaling $1,000 or more within 60 days of account opening

The Fine Print

$200 bonus will be deposited into your new checking account within 60 days of direct deposit verification as long as your account is opened
Offer may not be combined with any other checking account bonus offers
Offer is not valid if you have an existing U.S. Bank consumer checking account, had a U.S. bank checking account account in the last six months or received other U.S. Bank bonus offers within the past six months
Offer is not available to accounts opened through usbank.com or 24 hour banking
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

There is a $12.95 monthly fee. This is waived with one of the following: an open U.S. Bank personal loan, line or credit card. Many of us have a U.S. Bank personal credit card like Altitude, Flexperks, or Cash+; that would work to keep the account fee-free.

There’s also apparently another way to qualify for a free Gold Checking for those with good credit scores who join the Because You’ve Earned It program.

Our Verdict

A reader told me there would be a $200 U.S. Bank checking bonus during this time frame, but I never saw anything online so just thought it didn’t exist. Turns out it’s in branch only. Keep in mind there is a $300 checking bonus from U.S. bank for those who live in DC, parts of VA, MD, WV, PA that can also be done online. U.S. Bank usually offers this $200 checking bonus once a year, they offered it publicly last June (ended in August). That would make some people ineligible for this bonus depending on when you received your bonus/closed your account (needs to be at least six months from both of those dates).

I think it’s worth doing as it can be churned and having the deposit account is also useful in getting approved for the Altitude. The bonus requirements are also relatively easy to meet as well and most people won’t have an issue with keeping the account fee free (e.g credit card qualifies for this). Downside is that it has to be opened in branch. Still I’ll be adding this to our list of the best checking bonuses.

Big thanks to reader @vonUnterstein who let us know. Learn how to find bonuses and contribute to the site here.

Useful posts regarding bank bonuses: