American consumers have seemingly limitless choices in bank accounts, from online only banks to traditional brick-and-mortar financial institutions. Recently, consumers have been gravitating toward big banks for their reputations of stability.
U.S. Bank, member FDIC, offers a generous sign-up bonus of up to $450 right now when you open a U.S. Bank Smartly checking account and complete qualifying activities.
About U.S. Bank
U.S. Bank is the fifth-largest commercial bank in the U.S., with $587 billion in assets and more than $24 billion in annual revenue, putting it at 150 on the Fortune 500 list. This national bank has more than 2,000 brick-and-mortar branches across 26 states. U.S. Bancorp is the parent company of U.S. Bank, a global corporation headquartered in Minneapolis, MN.
The bank offers a range of financial products, including:
- Smartly checking accounts
- Standard Savings Account
- Elite money market accounts
- Individual Retirement Account Money Market Fund
- CDs
- Business banking
U.S. Bank’s retail branches have a footprint in only 26 states, primarily across the West and Midwest. But U.S. Bank customers span the country, banking through the U.S. Bank Mobile App. The company reports that 80% of consumer transactions take place online or through the app.
Is U.S. Bank FDIC insured?
U.S. Bank is FDIC insured, which means it holds Federal Deposit Insurance Corporation insurance for up to $250,000 per account holder, the maximum allowable limit. Since U.S. Bank, Member FDIC, allows joint account holders, that insurance doubles if there are two account holders.
What Is U.S. Bank Smartly?
U.S. Bank Smartly Checking is U.S. Bank’s most popular personal checking account product. The checking account provides a U.S. Bank Visa debit card that you can use fee-free at U.S. Bank ATMs as well as at MoneyPass Network ATMs. It also comes with overdraft protection, and access to rewards through the U.S. Bank Smart Rewards program.
The checking account does have a $6.95 monthly fee, but that can be waived if you meet certain requirements, such as holding a minimum average account balance. You’ll need a $25 minimum opening deposit to open your account.
How to Avoid Monthly Maintenance Fees
the U.S. Bank Smartly® Checking account charges a $12 monthly maintenance fee. However, you can waive this fee if you meet any of the following requirements:
- Maintain an average account balance of $1,500 or more,
- Have combined monthly direct deposits totaling $1,500 or more,
- Qualify for the Smart Rewards® Gold tier or higher, or
- Belong to a qualifying customer group, including:
- Youth ages 13–17
- Young adults ages 18–24
- Seniors 65 and older
- Members of the U.S. military
Earn Interest on your U.S. Bank Checking Account
U.S. Bank Smartly Checking is one of the rare interest earning checking accounts you’ll find in a traditional bank. Earn between 0.001% and 0.005% annual percentage yield, depending on your region, your account balance and current interest rates. That isn’t a lot of money, but it’s a nice added benefit, especially if you carry a high balance and qualify for the highest tier of interest rates.
U.S. Bank Smartly Promo Code Bonus
U.S. Bank is currently offering a sign-up bonus of up to $450 for new Smartly® Checking accounts opened by June 26, 2025. To qualify, you must:
- Enroll in online banking or the U.S. Bank Mobile App within 90 days of opening your account
- Complete two or more direct deposits within 90 days, totaling:
- $2,000–$4,999.99 to earn $250
- $5,000–$7,999.99 to earn $350
- $8,000 or more to earn $450
You’ll receive the bonus within 60 days after meeting the requirements. U.S. Bank will issue a 1099-INT for the bonus, and you may owe taxes on the amount received.
This is one of the most competitive checking account promotions available right now—especially for users who can meet the deposit thresholds.
Features and Benefits
U.S. Bank Smartly Checking gives you the tools and flexibility of a modern checking account with the backing of a national bank. From ATM access to budgeting features, the account is built to help you manage your money more efficiently.
ATM Access
You can use your debit card at U.S. Bank and MoneyPass ATMs with no transaction fees. If you use an ATM outside of those networks, a $3 fee applies per transaction.
You may qualify for waived ATM fees if you meet one of the following conditions:
- You’re in the Silver Smart Rewards tier or higher
- You’re between the ages of 13 and 24, in which case U.S. Bank waives the first four non-U.S. Bank ATM transactions per statement period
Note that third-party ATM operators may charge an additional surcharge, even if U.S. Bank waives its own fee.
Overdraft Protection
U.S. Bank may charge up to $36 per overdraft if your account drops more than $50 below zero. But there are several ways to avoid the fee:
- If you bring your balance back to at least $0 by 11 PM ET on the day it goes negative, you won’t be charged
- If you’ve linked a U.S. Bank savings account, funds will transfer automatically to cover the negative balance with no transfer fee
- If your account is overdrawn by less than $50, no fee is charged
Automated Budgeting
U.S. Bank offers several tools to help you manage your money and avoid overdrafts. Through the mobile app, you can create budgeting categories for spending buckets like groceries, bills, or entertainment. You can review past transactions to track trends, identify areas to cut back, and redirect extra cash into savings.
The app includes two key tools: Insights, which helps you recognize your spending patterns, and Goals, which lets you plan for specific purchases or build emergency savings.
You can also automate savings in a few ways:
- Set recurring transfers to a linked savings account
- Pay yourself first by automatically transferring a specific amount or percentage of every deposit
- Enable round-ups, where debit card purchases are rounded up and the difference goes into savings
These tools make it easier to stick to a savings plan and grow your balance consistently.
Account Alerts
You can set custom alerts for low balances, upcoming due dates, or transaction activity. Alerts can be delivered by text or email, helping you monitor your account and catch fraud early.
Other Digital Tools
The U.S. Bank app includes features like mobile check deposit, online bill pay, and debit card locking. With more than 80% of customer transactions now happening through digital channels, the app is designed to be a full-service banking tool.
Access Smart Rewards®
The U.S. Bank Smart Rewards® program uses a tiered system based on your combined balances across eligible U.S. Bank deposit and investment accounts. The current tiers are:
- Bronze: Under $5,000
- Silver: $5,000–$24,999.99
- Gold: $25,000–$49,999.99
- Platinum: $50,000–$99,999.99
- Platinum Plus: $100,000 and above
Your balance includes checking, savings, money market, and eligible investment or trust accounts. Credit card balances and business accounts don’t count toward your tier.
Benefits for Smart Rewards Customers
Higher tiers unlock more benefits, including:
- Waived fees for non-U.S. Bank ATM transactions
- ATM surcharge reimbursements
- Rate bonuses on savings
- Mortgage closing credits
- Free investment trades
- IRA annual fee waivers
- Access to financial consultants
Most of these perks start at the Gold tier. Bronze and Silver members receive fewer benefits, focused mostly on basic fee savings.
Pros & Cons of U.S. Bank Smartly Checking Account
U.S. Bank Smartly offers plenty of benefits to customers, including accessible customer service, interest earning capabilities, and access to the Smart Rewards program for added benefits. What are some of the pros and cons to help you evaluate this account?
Pros
- Easy to waive the monthly service fee by making monthly direct deposits totaling $1,000 or maintaining an account balance of $1,500)
- Bank offers up to $450 sign up bonus if you meet requirements
- Mobile Check Deposit
- Overdraft fee forgiven program
- Smart Rewards program
Cons
- $6.95 monthly service fee (if you don’t meet direct deposit or other requirements)
- Overdraft fee
- Minimum deposit of $25 required to open an account
- ATM fees on non-U.S. Bank or non MoneyPass network ATMs
How to Deposit Money into Your Bank Smartly Account
It’s easy to open your Bank Smartly checking account with a minimum deposit of just $25.
Remember, when you set up direct deposits totaling $1,000 per month, or more, you can waive the monthly service fee.
To get started, you can deposit money through:
- Mobile check deposit in the mobile app
- Visit a branch or ATM to deposit a check or cash
- Send a wire transfer from another bank account into your U.S. Bank account.
U.S. Bank Checking Accounts vs. Chase Checking Accounts
Smartly checking is designed to appeal to most other customers, especially those looking for a generous sign-up bonus.
Chase Bank, the largest bank in the U.S. based on assets, is offering a $200 sign-up bonus for new Chase Total Checking customers who meet requirements.
As with Smartly checking, it’s relatively easy to meet requirements to waive the monthly fee or have your overdraft fee forgiven.
Chase has other accounts checking accounts, too, depending on your needs. These include:
- Chase Secure Banking
- Chase Premier Plus Checking
- Chase First Banking for kids, which provides a debit card and parent-owned account for kids ages 6 to 17
- Chase High School Checking & Chase College Checking
- Chase Sapphire Banking and Chase Private Client Checking for high-net worth customers. Chase Bank provides more options for customers at every stage of their financial life. But U.S. Bank is a reputable financial institution where your money will be safe.
Who is U.S. Bank Smartly Checking best for?
If you are looking for a straightforward bank account where it’s easy to waive the monthly maintenance fee, have an overdraft fee forgiven, and earn Smart Rewards, this account could be the best choice for you.
Frequently Asked Questions
What APY does Smartly® Checking offer?
The annual percentage yield on your Bank Smartly account depends upon your region and the current prime interest rate. The U.S. Bank Smartly interest calculator shows an annual percentage yield of 0.001% up to 0.005%, depending on your account balance. The higher the account balance, the higher interest rate you will earn.
Does Smartly® Checking charge overdraft fees?
Bank Smartly checking charges overdraft fees of $36 every time your account has a negative balance of more than $50. However, you can have these fees forgiven if your available balance by 11 PM on the day your account was overdrawn is $0 or more, U.S. Bank will waive the overdraft paid fee.
You can also sign up for overdraft protection with no fee. If you have a linked deposit account, such as a U.S. Bank savings account, U.S. Bank will transfer funds from that account to cover your overdraft with no fee.
Are checking accounts from U.S. Bank federally insured?
Yes, accounts from U.S. Bank, member FDIC, are federally insured up to $250,000 per account holder. Joint accounts are insured up to $500,000.
Does U.S. Bank offer free checking?
Your Smartly checking account is not free, but it’s easy to waive the monthly fee.
Is U.S. Bank trustworthy?
U.S. Bank is the fifth-largest commercial bank in the U.S. based on assets held. Accounts are FDIC insured. And the bank customer service department is available 24/7 by phone at 800-USBANKS. You can also reach out for help through the mobile banking app or at branches in 26 states during branch business hours.
