[Targeted] US Bank $200 Online Checking Bonus

Offer at a glance

  • Maximum bonus amount: $200
  • Availability: Targeted offer, sent via email
  • 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: $6.95-$12.95, waivable 
  • Early account termination fee: None
  • Household limit: None mentioned
  • Expiration date: August 31, 2018

The Offer

Direct Link to offer (requires targeted promo code)

  • U.S. Bank is offering a bonus of $200 when you open a new consumer checking account and receive direct deposits totaling $1,000 or more within 60 days of account opening.

Offer is being sent out via email with a unique (I believe) promo code.

The Fine Print

  • Valid through August 31, 2018.
  • This offer is only valid for the addressee and is not transferable. Address on new account must match address on mail or email received to be eligible for the bonus. Promo code and listed mailing address may only be used once. Bonus will not be paid if promo code is retrieved by unintended recipient or if promo code is retrieved from a deals website. You must use the Promotion Code listed on this offer when you apply.
  • A minimum deposit of $25 is required to open a U.S. Bank consumer checking account.
  • Earn your bonus by opening a new U.S. Bank consumer checking account (excluding Student Checking and Safe Debit Account) by the date specified on the letter or email your received. Additionally, you must complete recurring direct deposits that total $1,000 or more within 60 days of account opening.
  • The checking account bonus will be deposited into your new checking account within 60 days of direct deposit verification, as long as your account is open and has a positive balance.
  • Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes.
  • Offer may not be combined with any other checking account bonus offers. Offer is not valid if you or any signer on the account have an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last six months, or received other U.S. Bank bonus offers within the past 12 months.
  • Limit of one bonus per household.

Avoiding Fees

There are five checking products which qualify for this promotion:

  • Easy Checking Account
  • Silver Checking Account
  • Gold Checking Account
  • Premium Checking Account
  • Platinum Checking account

Probably the easiest way to keep this fee free is to open the Gold Checking account: if you have a U.S Bank credit card, the monthly fees on this account are waived. Many of us have a U.S. Bank personal credit card like Altitude, Flexperks, or Cash+ which would work to keep the account fee-free. Having a personal loan gets the fee waived as well.

If you don’t have a U.S Bank credit card and aren’t planning on getting one, your best bet is to open the Easy checking account which has of $8.95 ($6.95 if you enroll in paperless statements). Fee is waived if you have combined direct deposits totaling $1,000 or more, OR maintain an average monthly balance of $1,500.

Our Verdict

“Bonus will not be paid if promo code is retrieved by unintended recipient or if promo code is retrieved from a deals website.” Thanks for the shoutout, U.S. Bank.  🙂

We have seen a higher bonus of $300 in select areas in the past, but $200 is the standard bonus. This targeted offer also has the advantage of working with almost any checking product. There’s a similar $200 offer available in some U.S. Bank branches which is available for anyone. U.S. Bank usually offers the $200 checking bonus twice a year, once in Feb-March and once in June-August. They are sometimes targeted and sometimes public. You do need to wait 12 months from closing before doing the deal again.

U.S. Bank bonuses are fairly popular: they’re pretty easy to do, they can be churned, and having the deposit account is useful for getting approved for the Altitude.

Hat tip to readers Nicholas and Sammy

Useful posts regarding bank bonuses:

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