US Bank $400 New Checking Account Bonus

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US Bank has a $400 new checking promotion when you open a new Platinum, Gold or Easy U.S. Bank checking account with $25 minimum and complete the following:

  • Enroll in online banking or the U.S. Bank Mobile App within 60 days of opening your account.
  • Complete two or more direct deposits within 60 days of opening your account totaling $4,000 or more.

Must open by August 8th, 2022 and use the promo code 2022JUL. This offer may be restricted to those states where US Bank has a physical branch presence.

You may still be considered a “new” account even if you had a US Bank account years ago:

Offer is not valid if you or any signer on the account has an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last two years, or received other U.S. Bank bonus offers within the past two years.

The most basic option is the Easy Checking account, which has a $6.95 monthly fee which that is waived with any one of the following:

  • Your combined monthly direct deposits total $1,000 or more.
  • You keep an average account balance6 of $1,500 or more.
  • You are age 65 or greater.

All in all, a relatively straightforward checking promotion with decent bonus size. Good potential Project Free IRA fodder. Worth a look if you are in their geographic area.

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Comments

  1. CF Frost says

    Your last sentence: “Worth a look if you are in their geographic area.”

    I did not see a Geographic area restriction listed in their terms…

    “A minimum deposit of $25 is required to open a U.S. Bank consumer checking account. Earn a $400 bonus by opening a new U.S. Bank consumer checking account, excluding Student Checking and Safe Debit Account, by August 8, 2022. The checking account can be opened in a branch, online or over the phone. Additionally, you must enroll in online banking or the U.S. Bank Mobile App within 60 days of opening your account. You must also complete two or more direct deposits within 60 days of opening your account totaling $4,000 or more. A direct deposit is an electronic deposit of your paycheck or government benefits, such as Social Security, from your employer or the government. Other electronic deposits or person-to-person payments are not considered a direct deposit. The checking bonus will be deposited into your new checking account within 60 days of direct deposit verification and verification of enrollment in online banking or the U.S. Bank Mobile App as long as your account is open and has 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 has an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last two years, or received other U.S. Bank bonus offers within the past two years.

    Limit one checking bonus per person. Current U.S. Bank employees are not eligible. Offer not available through Alliance partnerships. Other restrictions may apply. All standard account terms, conditions and opening procedures apply. For a comprehensive list of account pricing, terms and policies, see the Your Deposit Account Agreement (PDF) and the Consumer Pricing Information (PDF) disclosure.”

    Could you let me know what led you to write the last sentence? Did I miss something?

    “Are US banks in all 50 states?
    Physical locations are only available in 26 states: While U.S. Bank touts a vast network of physical branches, they’re only available in 26 states, most of which are located in the Western half of the country.”

    “…U.S. Bancorp had more than 1,000 banking offices in the states of Minnesota, Oregon, Washington, Colorado, California, Idaho, Nebraska, North Dakota, Nevada, South Dakota, Montana, Iowa, Illinois, Utah, Wisconsin, Kansas, and Wyoming.”

  2. T. Harper says

    “ Offer is not valid if you … or received other U.S. Bank bonus offers within the past two years.” So if one received the $500 bonus from the US Bank Altitude Connect Credit Card within the past 2 years, the offer is not valid?

  3. Frugal Jimmy says

    I often can’t take advantage of this kind of offer because my employer takes about 2 full pay periods (4 weeks total) to update my direct deposit, which means I only have two paychecks to hit the required minimum direct deposit for this offer. After maxing out my contributions to my 401k, I will never hit the required direct deposit in two paychecks. I suspect others must find themselves in a similar situation. Any workarounds?

  4. I think it means you have to live within one of the 26 states they have a physical presence.

  5. Can anyone confirm whether the use of the term “direct deposit” here implies anything beyond simply transferring money from one external bank account to the new US Bank account via ACH, etc. To me, that terms usually means I have to have Payroll deposit my paychecks there…

  6. My application was not approved. Does anyone know what could be the reason? JOnathan i know you apply for these promos, did ur application go thru?

  7. MatthewB says

    Seems like a decent return on time/effort, even with adjusting my direct deposit for the necessary period.

    But when I tried to sign up while logged in, I got:

    “Grab a guardian and visit us in a branch, where you can open a joint account with someone over 18. Alas, we can’t let anyone under 18 apply online – it’s a legal thing.”

    And while not logged in, it just flat out didn’t approve me. Although they sent me an email saying they are still reviewing.

    Weird, I have a USBank credit card, and have never been under-18 while an account holder with them.

    • I got the rejection letter, and it mentions not being able to validate my identity.

      I’m guessing the issue is I have my credit files blocked with all three credit reporting agencies, and US Bank is using that to validate my identity?

      I guess it’s been too long since I signed up for a new bank account that I didn’t even connect this – I’m not asking for a line of credit, so I didn’t expect them to need that. And the error doesn’t mention credit report at all.

      • Jason Boxman says

        Yes, I got a notification of a soft pull on my credit after opening.

        I used my identity theft as an opening to get free 7 year fraud alerts at each credit bureau — you can get 1 year free these days, even without a fraud affidavit — and never bothered with the freezes.

        From what I’ve read at Krebs on Security, the freezes are not a sure thing. It is oddly possible to get around them, and I’d rather have a fraud alert on my credit files. I’ve never had an issue so far in 8 years, although I do face security questions and extra verification when I open accounts sometimes, or have to go to a branch to guarantee success.

        (There have been quite a few attempts though, and I get rejection letters sometimes from subprime lenders and the like about accounts “I” tried to open, so the alerts do work!)

        Trade-offs.

      • I lifted the credit freezes and re-applied today, and was approved with no issue. So if anyone else is trying and being denied, it’s likely due to your credit freeze settings.

  8. Wasn’t approved for me either. Said it couldn’t validate my identity and I needed to apply in person, but there’s no branch in my state. Anybody actually getting approved for this one?

    • Question— if using Apple products for the application, see if you have Apple Private Relay enabled on your device. I was rejected on that CIT Amazon offer because they could not validate my identity.

      I suspect the rejection was due to Apple Private Relays masking my IP address location and resolving to an entirely different state a thousand miles from my home state.

  9. “The CFPB alleged that US Bank accessed consumers credit reports to open checking and savings accounts, credit cards and lines of credit without their permission…”

    https://t.co/KcDNVpx5zh

  10. It was denied for me as well. I live in GA. Is that the reason?

  11. Jason Boxman says

    So some countervailing information; I applied in a state where they do have a branch, but online, and even though I have a credit alert on my credit reports, and it isn’t uncommon that I get rejected online, and always apply in-bank when I can. I was actually approved opening the Easy Checking account. My last US Bank account was closed some years ago as well.

    You can fund with a credit or debit card on the screen after the approval. I tried using HMBradley in the past, and their card administrator rejected it as possible fraud; I wasn’t able to retry. (And I was told they don’t pre-approve transactions.) That was with LFCU as the funding target. So I probably won’t do that again.

    You might have some success, can’t hurt to try.

    • Jason Boxman says

      Ugh, CC funding is limited to $250. Probably not worth the hassle.

    • Jason Boxman says

      And you’re given the routing and account number immediately.

      If you get approved, this is easiest experience I’ve seen to immediately get DD setup and going, and get your other account(s) linking started for later extracting that bonus.

      Thanks Jonathan!

    • Jason Boxman says

      You cannot use your Google Voice number for SMS codes. It rejects it as not a mobile number. Annoying, but I’m only round tripping the bonus, so not terminal. I was able to add Lafayette easily on this end. Using trial deposits on that end so that I’m good to go.

  12. Very strange. I got the following message:

    Thanks for considering U.S. Bank.
    We appreciate your interest in U.S. Bank, but your application was not approved.

    If you’d like to speak with a banker about qualifying for other products, please give us a call.

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