$300, $400 Bonus Offers – Forbes Advisor


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Minneapolis-based U.S. Bank is America’s fifth-largest bank in terms of assets, and has more than 2,000 branches in 26 states. It offers a suite of personal and small business products, and often runs generous promotions to entice newcomers to bring their business to U.S. Bank. You can earn up to $400 for opening either a personal checking account or a new business checking account.

How Can You Earn a U.S. Bank Bonus?

Many banks use cash bonuses to entice prospective customers, and that group includes U.S. Bank. It dangles hundreds of dollars in sign-up cash to land new checking accounts.

U.S. Bank personal checking bonuses generally require you to:

  • Open an account and complete a minimum amount of direct deposits or qualifying transactions in the first couple of months.
  • Enroll in online banking or use the U.S. Bank mobile app.

Here are the U.S. Bank new-account promotions currently available. Offer details are accurate as of July 14, 2022.

U.S. Bank Promotions for 2022

U.S. Bank Checking: Earn $400

U.S. Bank offers several alternatives for consumers who’d like a new personal checking account. A U.S. Bank checking account can be opened online, over the phone or at a branch—with a starting deposit of at least $25.

At the entry level, the U.S. Bank Easy Checking is a basic account that comes with a $6.95 monthly fee.

If you’re looking for additional benefits, including fewer ATM fees, there’s the U.S. Bank Gold Checking Package. With this account, you’ll never pay fees at the bank’s own ATMs, and pay no fees on your first two transactions at non-U.S. Bank ATMs each statement period. There’s a $14.95 monthly maintenance fee.

Finally, if you want a checking account with U.S. Bank’s best rates and rewards, you can choose  the U.S. Bank Platinum Checking Package, which carries a $24.95 monthly maintenance fee.

  • What is the offer? Earn a $400 bonus when you open a new Platinum, Gold or Easy Checking account, enroll in online banking or the U.S. Bank mobile app, and complete two or more direct deposits totaling $4,000 or more within 60 days.
  • What is considered a direct deposit? U.S. Bank defines direct deposits as electronic deposits of paychecks from an employer, or government benefits, such as Social Security. Other electronic deposits and person-to-person payments do not count.
  • When do you receive your bonus? U.S. Bank says your cash will be deposited into your new checking account within 60 days of direct deposit verification and verification of enrollment in online banking or the U.S. Bank mobile app. Your account must be open and have a positive balance to receive your sign-up bonus.
  • Is this a limited time offer? Yes. This U.S. Bank checking account bonus promotion is valid through Aug. 8, 2022.
  • Is there a promotional code? The bank says if you’re asked for a promo code when you apply, enter 2022JUL.
  • Can you avoid the monthly service fee? Yes, for each of the personal checking accounts covered by the promotion.
    • Easy Checking. The $6.95 monthly maintenance fee is waived if your combined monthly direct deposits total $1,000 or more, you keep an average balance of $1,500 or more, or you’re age 65 or older.
    • Gold Checking Package. The $14.95 monthly fee is waived if you have an active U.S. Bank personal loan, line of credit, mortgage or credit card.
    • Platinum Checking Package. The $24.95 fee is waived if you have $25,000 in combined personal deposit or credit balances with the U.S. Bank and/or investments through U.S. Bancorp Investments, or if you have a personal trust relationship with U.S. Bank Wealth Management.

U.S. Bank Small Business Checking: Earn $300

For business owners, U.S. Bank offers three business checking options, each requiring a $100 minimum opening deposit.

The U.S. Bank Silver Business Checking Account Package is basic with a $0 monthly maintenance fee and 125 free transactions—including deposits, check payments and PIN-based debit card purchases—per month. Additional transactions cost 50 cents.

For business owners with greater needs, the U.S. Bank Gold Business Checking Account Package offers 300 free monthly transactions and charges 45 cents per additional transaction. There’s a $20 monthly maintenance fee.

At the top end is the U.S. Bank Platinum Business Checking Account Package. It provides 500 free transactions per month, charges 40 cents for each additional transaction and has a $30 monthly maintenance fee.

  • What is the offer? Earn a $300 bonus when you open a new Platinum, Gold or Silver business checking account and complete qualifying activities: deposit $3,000 of “new money within 30 days and maintain your deposit for 60 days; enroll in the mobile app or U.S. Bank online banking; complete five qualifying transactions within 60 days.
  • What is considered “new money”? U.S. Bank defines this as a deposit of money not already held by U.S. Bank and its affiliates.
  • What is a qualifying transaction? These include debit card purchases, merchant deposits, ACH credits, wire credits and debits, mobile check deposits and bill payments.
  • When do you receive your bonus? U.S. Bank says your cash will be delivered into your new business checking account within 45 days of deposit verification, but the account must still be open and have a positive balance.
  • Is this a limited time offer? The offer is available through July 29, 2022.
  • Is there a promotional code? The bank says you must use promo code Q2BUS22 when you apply.
  • Can you avoid the monthly service fee? Two of the business checking accounts have these fees, and they can be sidestepped:
    • Gold Business Checking. The $20 maintenance fee is waived when you: enroll in U.S. Bank Payment Solutions Merchant Banking; have a $10,000 average collected balance (funds deposited into the account during the month) have $20,000 in combined average collected business deposit balances across accounts; or have $50,000 in average combined collected business deposits and outstanding credit balances.
    • Platinum Business Checking. The $30 maintenance fee is waived if you have a $25,000 average collected balance or $75,000 in average collected business deposits and outstanding credit balances during the month.

Are These U.S. Bank Bonuses a Good Deal?

The U.S. Bank promotions currently available are competitive with those offered to new customers by many large national banks.

But because U.S. Bank has a presence in only about half the states, it may not be a great fit for everyone. If you use ATMs regularly but U.S. Bank’s ATM network isn’t convenient, you might consider a checking account that routinely provides fee reimbursements for using out-of-network ATMs.

What Else Should You Know About U.S. Bank Checking Promotions?

These Welcome Offers Are for New Customers

If you’ve had a U.S. Bank checking account or previously received a U.S. Bank sign-up bonus, you may not qualify for these offers.

You’re not eligible to receive a personal checking account bonus if you’ve held a U.S. Bank consumer checking account in the last two years or took advantage of any other U.S. Bank bonus offer during that time.

Similarly, you are not eligible to receive a business checking account bonus if you or any signer on the business checking account has held a U.S. Bank business checking account within the last 24 months.

Your Bonus May Be Taxable

U.S. Bank says it will report your bonus to the IRS on a form 1099-INT. The bank says the promotional cash is considered interest income for tax purposes, and you’ll be responsible for any taxes owed.

Find The Best Online Savings Accounts Of 2022

Bottom Line

U.S. Bank’s welcome offers for new customers are competitive and—if you live within its 26-state area near one of its 2,000 branches—the bank might be a good option for you.

You can choose from a range of personal checking accounts and score $300 if you send a couple of direct deposits to a new account, sign up for online banking or start using a mobile app. Business owners can collect $300 by opening a new business checking account and completing some qualifying activities.



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