US Bank charges for checking accounts, but the fee depends on the account type and whether you meet certain conditions
US Bank offers several checking accounts, and most of them have a monthly maintenance fee—typically $6.95 to $15 per month—unless you meet specific requirements to waive it. The most common way to avoid the fee is to maintain a minimum balance, set up direct deposit, or use a linked savings account. Some accounts have no monthly fee at all if you're under 18 or a student. The exact fee and waiver options depend on which checking product you open.
The account you choose matters because different US Bank checking products have different fee structures. Before you open an account, you should know what the monthly cost will be and what you'd need to do to avoid paying it.
Key Takeaways
- Most US Bank checking accounts charge a monthly maintenance fee between $6.95 and $15, but the fee can be waived by maintaining a minimum balance, setting up direct deposit, or meeting other conditions specific to each account.
- US Bank offers some checking accounts with no monthly fee, including accounts for customers under 18 and student checking accounts.
- Overdraft fees, ATM fees outside the US Bank network, and wire transfer fees are separate charges that may apply depending on how you use your account.
- You can find the exact fee structure and waiver requirements for any US Bank checking account by reviewing the account disclosure document before you open it.
Monthly maintenance fees and how to avoid them
US Bank's standard checking accounts charge a monthly maintenance fee, but you can waive it in several ways. The most straightforward method is to maintain a minimum daily balance—usually $500 to $1,500 depending on the account type. If you don't want to keep that much money sitting in the account, you can waive the fee by setting up direct deposit of your paycheck or other regular income, or by linking a US Bank savings account to your checking account.
Some accounts waive the fee if you complete a certain number of debit card transactions per month—typically 10 or more. Others waive it if you maintain a combined balance across multiple US Bank accounts. The specific waiver options vary by account, so you need to check the terms for the particular account you're considering before opening it.
If you don't meet any of the waiver conditions, the fee posts to your account monthly. US Bank does not refund fees after they've been charged, so it's important to understand the requirements upfront.
Checking accounts with no monthly fee
US Bank does offer checking accounts that carry no monthly maintenance fee. These include accounts for customers under 18 and student checking accounts, which are designed for younger account holders. If you fall into either category, you can open one of these accounts and avoid monthly fees entirely.
Beyond age-based accounts, some US Bank checking products may have no fee if you maintain certain balances or meet other conditions. The availability and terms of these accounts can change, so contact US Bank directly or review their current account offerings to see what's available to you.
Overdraft fees and other charges
Beyond the monthly maintenance fee, US Bank charges overdraft fees when you spend more money than you have in your account. As of recent years, US Bank charges $35 per overdraft transaction, though this can vary. If multiple transactions overdraw your account on the same day, you may be charged multiple overdraft fees.
You'll also pay fees for using ATMs outside the US Bank network—typically $2 to $3 per transaction—and for wire transfers, which usually cost $15 to $25 depending on whether the wire is domestic or international. Returned check fees and stop-payment requests also carry charges. These fees are separate from the monthly maintenance fee and apply only when you use those specific services.
How to compare US Bank checking accounts
US Bank publishes a fee schedule and account disclosure document for each checking product. Before you open an account, request or download the disclosure document, which lists the monthly fee, all waiver options, and other charges you might incur. This document is the source of truth for what you'll actually pay.
When comparing accounts, calculate the real cost based on your situation. If you receive direct deposit, you might waive the fee on an account that would otherwise cost $12 per month. If you rarely use ATMs and don't overdraft, overdraft fees won't affect you. The cheapest account on paper isn't always the cheapest account for your actual banking habits.
How to waive or reduce fees
If you're already paying a monthly maintenance fee and want to stop, contact US Bank and ask which waiver options apply to your account. You may be able to set up direct deposit, move money into a linked savings account, or increase your balance to meet the minimum. Some customers have also had success asking US Bank to waive a fee as a one-time courtesy, particularly if they've been a long-term customer or if the fee was charged in error.
If you incur an overdraft fee, you can call US Bank and request a refund. They don't always grant these requests, but many banks will reverse one or two overdraft fees per year if you ask, especially if you've never asked before. Overdraft protection—linking your checking account to a savings account so transfers happen automatically when you overdraft—can prevent overdraft fees altogether, though some banks charge a small fee for this service.
Frequently Asked Questions
Can I open a US Bank checking account with no monthly fee?
Yes, if you're under 18 or a student, US Bank offers checking accounts with no monthly maintenance fee. For other customers, you'll need to meet one of the waiver conditions—such as direct deposit, a minimum balance, or a linked savings account—to avoid the monthly fee.
What happens if I don't meet the waiver requirements?
The monthly maintenance fee will be charged to your account each month. US Bank does not refund fees after they post, so it's important to either meet the waiver conditions or switch to an account with no fee if you can't maintain the requirements.
How much is the overdraft fee at US Bank?
US Bank charges $35 per overdraft transaction. If multiple transactions overdraw your account on the same day, you may be charged multiple fees. You can call US Bank to request a refund if you've been charged an overdraft fee.
Do I have to pay to use an ATM at US Bank?
No, using a US Bank ATM is free. You'll be charged $2 to $3 per transaction if you use an ATM outside the US Bank network. Overdraft protection or a linked savings account can help you avoid overdrafts that might trigger fees.
Can US Bank waive my monthly fee if I ask?
Some customers have had success requesting a one-time fee waiver, particularly if they've been a long-term customer or if the fee was charged in error. Call US Bank and explain your situation—they may reverse the charge, though they're not required to do so.