Personal banking from U.S. Bank (2024)

FAQs

How do I open a personal U.S. Bank account? ›

You can apply online for a checking account if you're 18 years or older and a legal U.S. resident. You'll need the following information: Your Social Security number. A valid, government-issued photo ID like a driver's license, passport or state or military ID.

As of April 2024, no banks are offering 7% interest rates on savings accounts. Two credit unions have high-interest checking accounts: Landmark Credit Union Premium Checking with 7.50% APY and OnPath Credit Union High Yield Checking with 7.00% APY.

Overall institution rating

The bottom line: It's no secret that big banks sometimes charge high fees and offer low interest rates. U.S. Bank, the country's fifth-largest by assets, is no exception. But what this institution does well is provide convenient access to thousands of physical branches and ATMs.

$25 minimum deposit required to open a U.S. Bank consumer checking account. Members of the military (requires self-disclosure) and customers ages 24 and under and those 65 and over pay no monthly maintenance fee.

A minimum opening deposit of $25 to activate your account (once you've been approved). This can be paid with a credit, debit or prepaid card, a transfer from another U.S. Bank account or a transfer from another financial institution.

Generally, yes. You can open a checking account online in just a few minutes with an online bank or credit union or with traditional banks and credit unions that offer online banking and checking accounts. The funds in your new account may take a few days to process, though.

A money market fund is a mutual fund that invests in short-term debts. Currently, money market funds pay between 4.47% and 4.87% in interest. With that, you can earn between $447 to $487 in interest on $10,000 each year.

Grow your money, your way.

All our savings and checking accounts are FDIC insured.

Is my money safe at U.S. Bank? ›

Your deposits are safe with us. As an FDIC-insured bank, eligible U.S Bank consumer and business deposits are insured unconditionally by the United States government. Not yet a U.S. Bank customer?

U.S. Bank has passed all stress tests, while routinely outperforming peers. U.S. Bank has a diverse mix of businesses and revenue streams, which generate “through-the-cycle” sustainable earnings power.

Get your Monthly Maintenance Fee waived by meeting any one of the following criteria: Are 24 and under, 65 and over or a member of the military (must self-disclose).

U.S. Bank Smart Rewards

Unlock perks with a U.S. Bank Smartly^® Checking account and your U.S. Bank personal credit card – like exclusive cash-back deals, checking account monthly maintenance fee waiver, and more. Visit usbank.com/smartrewards for details on the Smart Rewards program and full terms and conditions.

Monthly maintenance fee: $6.95. There are multiple ways to waive the monthly maintenance fee. Only one qualification needs to be met. Have combined monthly direct deposits totaling $1,000 or more.

In addition to various forms of ID, a non-citizen generally needs to provide a Social Security number (SNN) or an Individual Taxpayer Identification Number (ITIN) when opening an account. Many banks and other financial institutions require an SSN to open an account.

Yes, non-resident aliens are able to open US bank accounts. They still need to provide the required documentation to prove their identity, address, and employment as well as a US Taxpayer document.

You can apply for most checking accounts online if you're 18 or older by going to the bank's website and filling out the application. The application will ask for basic information about yourself as well as submitting some documents for verification.

U.S. Personal Account. A U.S. dollar account with chequing privileges, allowing you to save in U.S. dollars when exchange rates are favourable.