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  US Bank Standard Savings Account
US Bank Standard Savings Account
in Savings Accounts from U.S. Bank · Member FDIC
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US Bank Standard Savings Account

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in Savings Accounts from U.S. Bank · Member FDIC
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Highlights
Monthly Fee $0 - $4
APY (Annual Percentage Yield) 0.01%
Minimum Balance to Earn APY $0.01

US Bank Standard Savings Account Review

US Bank Standard Savings Account is offered by U.S. Bank, a bank founded in 1863 and based in Minneapolis, MN. US Bank Standard Savings Account are available in 50 states (and Washington, DC).

Key Takeaways

  • Low interest rate. The maximum annual percentage yield for this account is only 0.01%.
  • $0 monthly account fees available. This account charges a monthly service fee of up to $4, but the fee is waived if you keep a minimum balance of $300.
  • No ATM fees. US Bank Standard Savings Account does not charge fees on ATM transactions.

U.S Bank savings account Pros & Cons

Pros Cons
  • Available in all 50 states.
  • Interest-yielding account.
  • Access to physical branches.
  • No signup bonus.
  • Does not come with a debit card
  • Higher than average wire transfer fees.
  • Monthly service charge.

U.S Bank savings account FAQ

Are savings accounts from U.S. Bank federally insured?

Yes, your U.S. Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #6548). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does U.S. Bank offer a signup bonus?

U.S Bank savings account doesn't offer a signup bonus.

What is the minimum initial deposit for U.S Bank savings account?

The minimum deposit to open a U.S Bank savings account is $25.
US Bank Standard Savings Account Minimums
Description
Minimum Balance to Avoid Monthly Fee Starting at $300
Minimum Balance to Earn APY $0.01
Minimum Combined Balance to Avoid Monthly Fee $1,000
Minimum Opening Deposit Starting at $25

What APY does US Bank Standard Savings Account offer?

U.S Bank savings account offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does U.S Bank savings account charge?

U.S Bank savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $300. You can also waive the fee by keeping a combined balance of $1,000.

  • Outgoing domestic bank transfers come with a $30 fee.
  • Outgoing international bank transfers come with a $50 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • U.S Bank savings account charges $2 every time you request a paper statement.

What features and perks does U.S Bank savings account offer?

This savings account includes the following features:

  • Check images with monthly statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks for each statement period.
  • Fraud monitoring - U.S Bank savings account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - U.S Bank savings account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
  • Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to U.S Bank savings account?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for U.S Bank savings account?

The customer support email for U.S Bank savings account is customer.support@usbank.com.

SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:30am - 5:30pm
  • Tuesday 8:30am - 5:30pm
  • Wednesday 8:30am - 5:30pm
  • Thursday 8:30am - 5:30pm
  • Friday 8:30am - 5:30pm
  • Saturday Closed

Other Services by U.S. Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • Washington, DC
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $300
Minimum Balance to Earn APY $0.01
Minimum Combined Balance to Avoid Monthly Fee $1,000
Minimum Opening Deposit Starting at $25
Monthly Fee $0 - $4
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Outgoing) $50
Paper Statement Fee $2
Returned Deposit Fee (Domestic) $19
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
Bauer Financial A+/A Rating
Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Nationwide ATM Network
  • Check Images with Statement
  • Mobile Banking
  • Fraud Monitoring
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
APY (Annual Percentage Yield) 0.01%

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