US Bank

Overview / Commentary

www.usbank.com

612-659-2000

800 Nicollet Mall
Minneapolis, MN 55402

As one of the largest banks in the United States, US Bank draws upon over 150 years of banking experience to offer its personal, business, commercial, and government banking customers a full suite of financial products and services. The bank offers its customers quick and secure access to funds through online and mobile banking options. US Bank’s depository banking products – for both its individual and corporate customers – include savings accounts, money market accounts, checking accounts, and Certificates of Deposits (CDs).

The bank’s personal savings accounts, money market accounts, and checking accounts can be easily linked together in various relationship banking packages, with attendant banking perks in each scenario. US Bank’s personal money market accounts yield better interest rates for larger account balances, and there is a tax-advantaged Individual Retirement Account (IRA) option available as a money market account. Personal CDs are also available, with terms ranging from 1 month to 60 months.

US Bank’s business checking accounts vary based upon account balance and monthly transaction volume. These business checking accounts can be combined with other business banking products and services in a variety of relationship banking packages – again, with attendant perks for each scenario. The bank offers a business “sweep” savings account that automatically transfers excess account balances from a business checking account into a business savings account with higher interest rates. Just like the personal money market accounts, business money market accounts yield tiered interest rates, depending upon account balance. US Bank’s business CD terms go from 14 days to 5 years.

In 1863, US Bank was established as the First National Bank of Cincinnati. Today, US Bank is owned by bank holding company US Bancorp. The headquarters for both the bank and its parent company are in Minneapolis, Minnesota.

US Bank Increases Money Market To 4.50% APY - 6/10/2023

https://www.usbank.com/bank-accounts/savings-accounts/elite-money-market.html

Business Checking Acct $750 Offer - 6/6/2023

I think this one was mixed together with the Chase offer of $750. Good through 6-30-23. https://www.usbank.com/splash/business-checking/spring-online-banking-bonus.html?ecid=PS_57012&c3api... Disclosures Promo code Q2BUS23 MUST be used when opening the business checking account. Limit of one Business Checking bonus per business. A $100 minimum deposit is required to open a U.S. Bank Silver, Gold, Gold with Interest or Platinum Business Checking account. Earn your $500 Business Checking bonus by opening a new U.S. Bank Silver, Gold, Gold with Interest or Platinum Business Chec

Unusual CD's For This Ultra Conservative Bank - 3/17/2023

I use their Brick/Mortar for my checking accounts at 0.01 as a sort of hub to open and close online accounts. Have never considered any of their CD offers. I clicked on the offer today and they asked for my zip code so maybe that's how they offer. Anyway Ken does have them on DA and shows 7mo/3.90---now 4.25, 11mo/3.65---now4.35, 15mo/3.90---now4.45, and 19mo/4.10---4.55. Nothing exciting here but some folks are pulling back to more conservative FI's.

View all posts from:

2023
2022
2020
Earlier

6/10 - US Bank Increases Money Market To 4.50% APY
6/6 - Business Checking Acct $750 Offer
3/17 - Unusual CD's For This Ultra Conservative Bank

5/5 - US Bank Checking Account Bonus Pays Up To $400
1/15 - US Bank Checking Account Bonus Pays Up To $500

11/26 - US Bank $100 Or $50 Savings Acct Bonus

9/3/17 - U.S. Bank Chicagoland CD Specials - 2.05% 59-Month
7/8/17 - US Bank Offers $200 Summer Checking Bonus
6/30/16 - It's Time For US Bank's $150 "Summer Bank Bonus 2016"
6/28/15 - Earn $125 with US Bank's Power Up 2015 New Checking Account Bonus
7/23/14 - US Bank's "Power Up Your Summer" with $150 Bonus for New Checking
7/17/14 - US Bank $150 Bonus
12/6/12 - U.S. Bank To Launch Photo Bill Payment In 2013
10/1/12 - $200 US Bank Checking Account Bonus - YMMV
8/16/12 - $150 US Bank Checking Account Bonus - YMMV
11/14/11 - U.S. Bank's New Mobile Banking Fees
10/31/11 - Competitive 59-Month CD Rate at US Bank - Available Nationwide
10/28/11 - CD Increase
8/24/11 - Real-Time Alerts Now Available For U.S. Bank ATM And Check Card Customers
6/24/11 - Making Popmoney Payments Is A Snap At US Bank
6/2/11 - US Bank Hits IRA Customers with Higher Fees
3/22/11 - New US Bank Checking Fees
3/22/11 - Special 19-Month CD Rate at US Bank in Southern California
3/4/11 - U.S. Bank S.T.A.R.T Savings Plan
2/24/11 - US Bank Will Launch Its Online Check Deposit Service, DepositPoint, In March
1/24/11 - US Bank CEO Hints That They May End Free Checking
12/28/10 - Competitive Long-Term CD Rates at US Bank
12/14/10 - Remote Deposit Now Available At US Bank For Existing Customers
10/28/10 - US Bank's $15 Bonus For Using Its Online Bill Pay
10/24/10 - 2.50% 5-Year CD At US Bank
9/23/10 - Score $75 For FREE From U.S. Bank!
8/2/10 - $150 Checking Account Bonus At US Bank - YMMV
5/23/10 - US Bank is Adding Remote Deposit Capability - DepositPoint
5/21/10 - Competitive Special CD Rates at US Bank - Available Nationwide
9/16/09 - US Bank's New Savings START Program and Review of Other Savings Programs
8/13/09 - 2.25% 12-Month CD at Bank USA in Arizona - Local Only
7/24/09 - 4.00% 59-Month CD at US Bank Branches in California
4/22/09 - Short-Term CD Rates Up to 2.70% at FBOP Corp Banks in CA, AZ, IL, TX
4/12/09 - 4.00% 59-Month CD at US Bank Branches in CA, MO & Maybe Other States
4/6/09 - Up to $160 Checking Account Bonus at FBOP Banks in CA, TX, AZ & IL
3/13/09 - 4.25% 59-Month CD at US Bank Continues in CA - Benefit of Opening CD at Downey Savings Branches
2/23/09 - 4.25% 59-Month CD & 2.50% 10-Month CD at US Bank in California
2/16/09 - 4.00% 59-Month CD at US Bank
10/19/08 - Another $75 Checking Account/Debit Card Bonus at US Bank
9/17/08 - $75 Checking Account/Debit Card Bonus at US Bank
8/27/08 - Up to $150 Checking Bonus at Cal National Bank in Southern California
7/29/08 - $100 Checking Account Bonus at US Bank in Milwaukee, St. Louis and Cincinnati
6/27/08 - 5.00% 59-Month / 4.75% 45-Month CD at US Bank
4/24/08 - 4.50% 59-Month CD at US Bank
3/3/08 - $75 Checking Account Bonus at an Illinois Branch of US Bank
9/7/07 - $75 Checking Account Bonus at US Bank in Washington State
1/24/07 - 5.35% 11-Month CD at a Chicago Bank (Park National)
3/13/06 - 5.00% 6-Month CD at a California Bank

Reviews (148)

Best Bank Ever

Posted by: Ltssharon | Mar 31, 2023

I love love love this bank and all the employees.
They are committed to service and finding ways to help you. They are professional and have good expertise. Their teamwork is admirable, and the culture of the bank is supportive; they help each other solve problems for clients happily. I live close to them and go there a lot for all of my banking needs.

Not Really Available Nationwide

Posted by: weiss800 | Nov 19, 2021

Tried to open easy checking account and was declined. Called customer service, spoke to a really lovely young lady named Jessica, who advised that since I was out of their market area, I couldn't open the easy checking account unless I had other accounts with them, such as credit cards, etc.

Comment

Interest Rates

Posted by: anonlol | May 25, 2023

did not honor interest rates do not trust will update if resolved

Comment

Terrible Conversion From Union Bank

Posted by: MikeyLikesItToo | Aug 10, 2023

I have had accounts at many banks in the past and currently have accounts at six banks and multiple accounts with an investment company. I can honestly say that US Bank is the worst I have ever experienced. I suspected it wasn't going to be great when they flooded my mailbox with conversion information that was 99% not applicable to me or my accounts at Union Bank, and one of my accounts was converted from a free account to one that has high fees. It's just gone downhill from there. The customer service people aren't pleasant and most often can't answer my questions. Their online banking is archaic and they changed one payment from electronic to mailing a paper check on the same date that Union sent it electronically...so now my payment is late every month...and the list goes on. I had my account at Union since 1979 and hoped to keep it, but there is NO reason to do that now.

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Health

B+

Data as of Q1 2023

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	6548
Year Established	1863
Employees	70181
Primary Regulator	OCC

Profit Margin
Return on Assets - YTD	1.03%
Return on Equity - YTD	13.53%
Annual Interest Income	$5.99B

Assets and Liabilities
Assets	Q1 2023vs Q1 2022	$590.5B$577.5B
Loans	Q1 2023vs Q1 2022	$331.6B$316.6B
Deposits	Q1 2023vs Q1 2022	$459.1B$473.1B
Equity Capital	Q1 2023vs Q1 2022	$45.84B$45.60B
Loan Loss Allowance	Q1 2023vs Q1 2022	$6.16B$5.66B
Unbacked Noncurrent Loans	Q1 2023vs Q1 2022	$1.09B$1.15B
Real Estate Owned	Q1 2023vs Q1 2022	$23.1MM$22.6MM

Rates

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Savings
Money Market
Checking
CD

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Always verify rates and promotions with the bank or credit union. We are not US Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

US Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.01%^†	-	-	Standard Savings

US Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
4.86%^*^†	$500k^*	$3m	Platinum Business Money Market - Bonus Rate
OTHER TIERS: 4.60% → $25k - $500k
4.50%^†	$25k	-	Elite Money Market - Bonus Rate
1.15%^*^†	$1m^*	-	Platinum Business Money Market
OTHER TIERS: 0.05% → Up to $50k \| 0.25% → $50k - $250k \| 0.60% → $250k - $1m
1.15%^*^†	$1m^*	-	Preferred Business Money Market
OTHER TIERS: 0.05% → $1k - $50k \| 0.25% → $50k - $1m
0.25%^*^†	$25k^*	-	Elite Money Market
OTHER TIERS: 0.01% → Up to $25k
0.01%^†	-	-	Premium Business Money Market

US Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.01%^†	-	-	Premium Business Checking with Interest
0.01%^†	-	-	Gold Business Checking Package with Interest
0.01%^†	-	-	Non-Profit Checking

US Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
4.75%^†	$1k	$250k	Business 11 Month CD Special
4.75%^†	$1k	$250k	11 Month CD Special
4.65%^†	$1k	$250k	19 Month CD Special
4.65%^†	$1k	$250k	Business 19 Month CD Special
4.65%^†	$1k	-	15 Month CD Special
4.65%^†	$1k	-	Business 15 Month CD Special
4.55%^†	$1k	$250k	7 Month CD Special
4.55%^†	$1k	$250k	Business 7 Month CD Special
0.40%^†	$1k	$250k	60 Month Trade-Up CD
0.40%^†	$1k	$250k	Business 60 Month Trade-Up CD
0.35%^†	$1k	$250k	28 Month Step Up CD
0.35%^†	$1k	$250k	Business 28 Month Step Up CD
0.25%^†	$500	$250k	60 Month CD
0.25%^†	$500	$250k	Business 60 Month CD
0.15%^†	$500	$250k	48 Month CD
0.15%^†	$500	$250k	Business 48 Month CD
0.10%^†	$500	$250k	36 Month CD
0.10%^†	$1k	$250k	30 Month Trade-Up CD
0.10%^†	$1k	$250k	Business 30 Month Trade-Up CD
0.10%^†	$500	$250k	Business 36 Month CD
0.05%^†	$500	$250k	1 Month CD
0.05%^†	$500	$250k	2 Month CD
0.05%^†	$500	$250k	3 Month CD
0.05%^†	$500	$250k	6 Month CD
0.05%^†	$500	$250k	9 Month CD
0.05%^†	$500	$250k	12 Month CD
0.05%^†	$500	$250k	18 Month CD
0.05%^†	$500	$250k	24 Month CD
0.05%^†	$500	$250k	Business 1 Month CD
0.05%^†	$500	$250k	Business 2 Month CD
0.05%^†	$500	$250k	Business 3 Month CD
0.05%^†	$500	$250k	Business 6 Month CD
0.05%^†	$500	$250k	Business 9 Month CD
0.05%^†	$500	$250k	Business 12 Month CD
0.05%^†	$500	$250k	Business 18 Month CD
0.05%^†	$500	$250k	Business 24 Month CD