US Bank Standard Savings Account Review
US Bank Standard Savings Account is offered by US Bank,
founded in 1863 and based in Minneapolis, MN.
US Bank Standard Savings Account is available in
50 states (and Washington, DC).
Are savings accounts from US Bank federally insured?
Yes, your US Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). 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.
No, your US Bank savings accounts are not federally 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.
What APY does US Bank offer?
US Bank Standard Savings Account offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).
What features and perks does US Bank Standard Savings Account offer?
This account includes the following features:
US Bank Standard Savings Account Features
|Bank Account Features
- Automatic Savings
- 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
- Automatic savings - Set up an automatic transfer from your checking account to a savings account and you'll never have to second-guess your saving decisions again.
- Check images with statement - Reconciling your accounts and complying with document retention standards is easier when you have access to a copy of your checks.
- Fraud monitoring - US Bank Standard 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 Bill Pay - Bill Pay allows you to receive ebills directly to your account and pay them easily from your account.
- Nationwide ATM network - Withdraw money and check your balance from wherever you are.
What fees does US Bank Standard Savings Account charge?
US Bank Standard Savings Account does not charge a monthly maintenance fee. See the fee breakdown section below to view all fees.
However, you can waive the monthly fee if you have a minimum daily balance of $25.
- Outgoing domestic bank transfers come with a $30 fee.
- Outoing 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.
- US Bank Standard Savings Account charges $2 every time you request a paper statement.
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