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  US Bank Standard Savings Account

US Bank Standard Savings Account

in Savings Accounts from US Bank · sipc

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US Bank Standard Savings Account

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in Savings Accounts from US Bank · Member SIPC

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Highlights
Monthly Fee $0 - $4
APY (Annual Percentage Yield) 0.01%
APY Minimum Balance $0.01

US Bank Standard Savings Account Review

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

Key Takeaways
  • Low APY. The maximum annual percentage yield for this account is only 0.01%.
  • $0 monthly Service Charge 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.
  • Bill pay. Pay your bills to practically anyone in the United States through US Bank.
U.S Bank savings account Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Interest-yielding account.
  • Access to physical branches.
  • No charge on incoming domestic or international wire transfers.
  • 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 US Bank federally insured?

No, your US Bank savings accounts deposits are not FDIC insured. However, they are insured up to $500,000, which includes a $250,000 limit for cash, by the Securities Investor Protection Corporation (SIPC). SIPC is a non government, nonprofit membership corporation that protects against the loss of cash and securities – such as stocks and bonds – held by a customer at a financially-troubled SIPC-member brokerage firm.

Does US 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
APY Minimum Balance $0.01
Minimum Balance to Avoid Monthly Fee Starting at $300
Minimum Combined Balance to Avoid Monthly Fee $1,000
Minimum Opening Deposit Starting at $25

What APY does US Bank 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?

In most cases, the answer is yes. 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 US Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • 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
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

APY Minimum Balance $0.01
Minimum Balance to Avoid Monthly Fee Starting at $300
Minimum Combined Balance to Avoid Monthly Fee $1,000
Minimum Opening Deposit Starting at $25
Monthly Fee $0 - $4
Paper Statement Fee $2
Returned Deposit Fee (Domestic) $19
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Outgoing) $50
Bauer Financial A+/A Rating
Account Features
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
  • Check Images with Statement
  • Fraud Monitoring
  • Free Bill Pay
  • Interest Bearing Account
  • Mobile Banking
  • Mobile Check Deposit
  • Nationwide ATM Network
  • No ATM Fees
  • No Monthly Maintenance Fee
APY (Annual Percentage Yield) 0.01%

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