US Bank does not charge an upfront fee to open a checking account

You can open a US Bank checking account with no opening fee. The bank does not require a minimum deposit to start the account either. However, you will pay a monthly maintenance fee unless you meet one of the conditions that waives it.

The monthly fee varies by account type. US Bank's standard checking account (called "US Bank Smartly Checking") charges $12 per month, but this fee is waived if you maintain a minimum daily balance of $1,500, set up direct deposit, or link a US Bank savings account with at least $25,000. Other account types have different fee structures and waiver conditions.

Key Takeaways

  • There is no fee to open a checking account at US Bank, and no minimum deposit is required to start.
  • US Bank charges a monthly maintenance fee ($12 for standard checking) unless you meet one of the waiver conditions.
  • Common fee waivers include maintaining $1,500 in daily balance, setting up direct deposit, or linking a savings account with $25,000.
  • You can open an account online, by phone, or in person at a US Bank branch.
  • If you do not meet waiver conditions, the monthly fee will appear on your statement every month the account is open.

How to open an account and what you need

You can open a US Bank checking account online, by phone, or in person at a branch. Online is the fastest route—the process takes about 10 minutes and you can start using the account immediately after approval.

To open an account, you will need a valid government-issued photo ID (driver's license, passport, or state ID), your Social Security number, and an initial funding source. The initial funding source can be a transfer from another bank account, a debit card, or cash if you open in person. You do not have to fund the account on the day you open it, but you will need to provide the information to complete the application.

If you open online or by phone, US Bank will verify your identity and run a check through ChexSystems, which is a banking history database. This check does not affect your credit score. If you have a history of unpaid overdrafts or fraud at other banks, US Bank may deny the application.

Monthly fees and how to avoid them

US Bank Smartly Checking charges $12 per month. This fee posts to your account on a set date each month and will continue until you close the account or meet one of the waiver conditions.

You can waive the fee by doing one of the following: maintaining a minimum daily balance of $1,500, setting up at least one direct deposit per month (any amount), or linking a US Bank savings account that holds at least $25,000. If you meet any one of these conditions, the fee does not post that month. If you stop meeting the condition, the fee resumes the following month.

US Bank also offers other checking accounts with different fee structures. US Bank Smartly Money Checking charges $15 per month but includes additional features like bill pay and mobile check deposit. Some accounts aimed at students or seniors have different fees and waiver rules. Check the current account options on US Bank's website or ask in a branch, because offerings can change.

What happens if you cannot avoid the monthly fee

If you do not meet any waiver condition, you will pay $12 per month for as long as the account is open. Over a year, that adds up to $144. This fee is not refundable, even if you close the account partway through a month.

If the monthly fee causes your account to go negative (overdraft), US Bank will charge an overdraft fee on top of the monthly maintenance fee. Overdraft fees at US Bank are $35 per transaction as of the last update, though this can change. You can opt out of overdraft coverage to prevent these charges, but then transactions that would overdraft your account will be declined instead.

If you find the monthly fee too high, you have options: switch to a different US Bank account type if one fits your situation better, or close the account and move to a bank with no monthly fees. Many online banks and credit unions offer free checking with no balance requirement or direct deposit needed.

Funding your account after opening

Once your account is open, you can add money by transferring from another bank account, depositing a check through mobile deposit or at a branch, or receiving a direct deposit. US Bank does not charge a fee for incoming transfers or deposits.

If you transfer money from another bank, the transfer usually takes one to three business days to arrive, depending on the other bank. Direct deposits typically post within one business day of the employer sending them. Mobile check deposits (taking a photo of a check through the US Bank app) usually clear within one business day.

Closing the account if you change your mind

You can close a US Bank checking account at any time by visiting a branch, calling customer service, or using the mobile app. There is no fee to close the account. US Bank will not refund monthly fees you already paid, but you will not be charged for the month you close it if you close before the fee posts.

Before you close, make sure any pending transactions have cleared and that you have moved any remaining balance to another account. US Bank will send you a final statement showing the account closure date and any remaining balance owed to you.

Frequently Asked Questions

Can I open a US Bank checking account if I have been denied before?

It depends on why you were denied. If the denial was due to ChexSystems history (unpaid overdrafts, fraud, or closed accounts with negative balances), you may be denied again. You can request your ChexSystems report to see what information is on file. If information is incorrect, you can dispute it with ChexSystems directly.

What is the minimum balance to avoid the monthly fee?

For US Bank Smartly Checking, you need a minimum daily balance of $1,500. This means your balance must stay at or above $1,500 every day of the month. If it drops below $1,500 even once, the fee will post that month. Direct deposit or linking a savings account are easier ways to waive the fee if you cannot maintain that balance.

Does US Bank charge fees for transfers between my own accounts?

No. Transfers between your own US Bank accounts (checking to savings, for example) are free and usually instant. Transfers to accounts at other banks may take one to three business days and are also free.

What happens if my direct deposit stops—do I lose the fee waiver?

Yes. The fee waiver requires at least one direct deposit per month. If you miss a month with no direct deposit, the monthly fee will post the following month. If you switch jobs or your employer stops direct deposit, you will need to meet one of the other waiver conditions or pay the fee.

Can I open multiple checking accounts at US Bank?

Yes, you can open more than one account. However, each account will have its own monthly fee unless you meet the waiver conditions for each one separately. Some people open multiple accounts to organize money for different purposes, but be aware that each account incurs a fee unless waived.