[Expired] U.S. Bank $300 In Branch Checking Bonus

Deal has expired, view current bonus by clicking here.

Offer at a glance

• Maximum bonus amount: $300
• Availability: In branch only [Branch locator]
• Direct deposit required: Yes, recurring direct deposits totaling $2,000 or more
• Additional requirements: Online banking or bank mobile app
• Hard/soft pull: Soft
• ChexSystems: Mixed data points
• Credit card funding: Can fund up to $50 with a credit card (probably not possible in branch or will code as a cash advance)
• Monthly fees: $8.95, avoidable
• Early account termination fee: None
• Household limit: None listed
• Expiration date: July 24th, 2019

The Offer

No direct link, in branch only

• U.S. Bank is offering a bonus of $300 when you open a new consumer checking account and complete the following requirements:
  • Mention promo code Summer Banking 2019
  • Complete recurring direct deposits of two or more that total $2,000 or more within 60 days of account opening
  • Be enrolled in either U.S. Bank online banking or the U.S. bank mobile app by July 24th, 2019

The Fine Print

• A minimum deposit of $25 is required to open a U.S. Bank consumer checking account.
• To earn the $300 bonus offer, you must open a new U.S. Bank consumer checking account (excluding Student Checking and Safe Debit Account) between and including June 19, 2019 and July 24, 2019.
• Additionally, you must complete recurring direct deposits of two or more that total $2,000 or more within 60 days of account opening and be enrolled in either U.S. Bank online banking or the U.S. Bank Mobile App by
  July 24, 2019.
• Talk to a banker for assistance in enrolling.
• The checking account bonus will be deposited into your new checking account within 60 days of direct deposit
  verification, and verification of enrollment in either U.S. Bank online banking or the U.S. Bank Mobile App.
• The account must be open and have 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.
• Offer is not applicable to accounts opened through usbank.com or 24 Hour Banking.
• Current U.S. Bank employees are not eligible.
• All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

U.S bank has three checking products which qualify for this promotion:

• Silver Checking Account
• Gold 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 then 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. You now need to specifically ask for the gold checking account.

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 Silver checking account which has of $8.95 ($6.95 if you enroll in paperless statements). Fee is waived if you do these three things: 1) Go paperless, 2) Open a Package Money Market Savings account (no fee), 3) Do one of these two things: have combined direct deposits totaling $1,000 or more, OR maintain an average monthly balance of $1,500. Another option is to get the Gold account and get the fee waived if you have a good credit score and join the Because You’ve Earned It program. 

Early Account Termination Fee

There is no early account termination fee to worry about

Our Verdict

Earlier in the year there was a $300 bonus that could be done online, the downside to that bonus was it required a Platinum checking account. This bonus is easier to keep fee free, but you do have to deal with the hassle of opening in branch. I’m fairly sure this deal is available at all branches, but it’s possible it’s not.

Hat tip to reader Greg

Useful posts regarding bank bonuses:

• A Beginners Guide To Bank Account Bonuses
• Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
• PSA: Don’t Call The Bank
• Introduction To ChexSystems
• Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
• What Banks & Credit Unions Do/Don’t Pull ChexSystems?
• How To Use Our Direct Deposit Page For Bank Bonuses Page
• Common Bank Bonus Misconceptions + Why You Should Give Them A Go
• How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
• Affiliate Links & Bank Bonuses – We Won’t Be Using Them
• Complete List Of Ways To Close Bank Accounts At Each Bank
• Banks That Allow/Don’t Allow Out Of State Checking Applications
• Bank Bonus Posting Times