U.S. Bank Promotions: February 2023

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If you’re looking for a tidy side hustle, earning sign-up bonuses for opening new bank accounts is relatively easy. Many of the larger banks offer regular incentives for this, and U.S. Bank promotions are some of the best.

That said, the key to earning bank bonuses is making sure you’re eligible and following through on any requirements to earn the bonus. We’ll help you identify which U.S. Bank promotions are currently being offered, and how you can make sure you earn them.

U.S. Bank : Smartly Checking - $200 [EXPIRED]

U.S. Bank logo

Bonus Amount: $200
Promotion Expiry: February 28, 2023
Qualifications: Deposit, direct deposit, online banking enrollment

How to Get the Bonus

Open a new checking account and deposit at least $25. Visit the offer page and click on “Apply for checking” to make sure you get the offer. If you open an account using another link on U.S. Bank’s website, use the code “23WEB02” to make sure you’re eligible for the bonus. It’s easiest to open an account online, but you can also do so in person or over the phone.
Enroll in online banking. Sometime within the first 90 days after you open the account, you’ll need to enroll in online banking. If you apply for an account online right from the start, this will be much easier.
Have at least two direct deposits totaling $5,000. Direct deposits are generally made by your employer or government benefits provider. You’ll need to have two direct deposits within the first 90 days, totaling $5,000 or more.
Receive your bonus. Once you meet the requirements, U.S. Bank will deposit your bonus amount into your checking account within 60 days. Make sure to keep your account balance positive during this time because you won’t receive the bonus if your account balance is in the red.

If you transfer money to this checking account yourself from another account, that’s not a direct deposit.

Bonus Restrictions and Account Fees

You must live within U.S. Bank’s service area, even if you apply online. The application form will tell you whether you’re eligible based on your ZIP code.
Not available if you or anyone else listed on the account (like a spouse) earned a U.S. Bank account opening bonus (for any account) or had an open U.S. Bank checking account within the past two years.
Not available if you or anyone else on the account currently has an open U.S. Bank checking account.
Not available if you’re currently a U.S. Bank employee.
The U.S. Bank Smartly Checking account charges a $6.95 monthly fee unless you meet one of seven requirements to have it waived each month: Have at least $1,000 in direct deposits, keep at least $1,500 in your account, qualify for one of U.S. Bank’s rewards tiers (which, in turn, have their own set of requirements), have a U.S. Bank credit card, be under age 24, be over age 65, or be a member of the military.
You may pay several other fees with this account too, including extra charges for using a non-U.S. Bank ATM ($2.50 from U.S. Bank, plus whatever charges the machine’s owner dictates), overdraft fees ($36, up to four times per day), wire transfers ($20–$50), paper statements ($2 per statement), and more.

U.S. Bank may offer many waivers for its monthly fee, but for some people it may be a big hassle to meet them each month. Once you’ve earned the bonus, consider moving your money to another checking account with no fees.

U.S. Bank : Standard Savings - $100 [EXPIRED]

U.S. Bank logo

Bonus Amount: $100
Promotion Expiry: February 28, 2023
Qualifications: Deposit

How to Get the Bonus

Open a new savings account and deposit at least $25. You can access this bonus from the link above, or enter the coupon code “23WEB02” when you’re completing your application. You can also open this account in person, over the phone, or online, but either way you’ll still need to live within U.S. Bank’s service area, which you can find out as you go through the application.
Deposit an additional $15,000, at a minimum. Be sure to deposit this additional money before March 31. Important: It must be new money, meaning that it’ll need to come from somewhere outside of U.S. Bank. You can’t have your rich uncle transfer the funds into your new account from his existing U.S. Bank account and pay him back later, for example.
Keep your account balance at least $15,000 until June 30. You’ll need to keep the money you deposited in your account in place until the clock strikes 12 on the last day of June.
Receive your bonus. Within 60 days, U.S. Bank will verify that you meet requirements and then pay out your bonus into your new savings account.

Bonus Restrictions and Account Fees

Only available to people who live within U.S. Bank’s geographical footprint, which you can determine after you enter your ZIP code on the application page.
Not available if you or any other people listed on the account earned a U.S. Bank bonus for opening a new savings account within the past year, or if you had (but closed) a U.S. Bank savings account within the past six months, or if you currently have an open U.S. Bank savings account.
Not available for current U.S. Bank employees.
The U.S. Bank Standard Savings account charges a $4 monthly fee unless you meet one of three waiver requirements each month: someone on the account is under age 17 (i.e., if you’re using this as a kids’ savings account), you keep at least $300 in the account, or your average balance for the month is $1,000 or higher (such as if you had a large pot of money, but withdrew it all on the last day).
You’ll have to pay many of the same fees as for the checking account, which might include charges for using a non-U.S. Bank ATM ($2.50, plus a surcharge from the ATM’s owner), money orders ($5), dormant accounts ($5 per month), and more.

Compare U.S. Bank Promotions

Promotion	Bonus Amount	Promotion Expiry	Qualifications
U.S. Bank Smartly Checking	$200	February 28, 2023	Deposit, direct deposit, online banking enrollment
U.S. Bank Standard Savings	$100	February 28, 2023	Deposit

Does U.S. Bank Offer Any Promotions for Existing Customers?

U.S. Bank does not usually offer any promotions if you’re already a customer. U.S. Bank is trying to attract new customers to its flock, which you can see in some of its requirements for past promotions, like needing to bring $25,000 in “new money” (i.e., from another bank) to your savings account in order to qualify for certain savings account bonuses.

Can I Use Multiple U.S. Bank Promotions?

Yes, you can typically use multiple account bonuses together. However, if you’ve earned any U.S. Bank promotions in the past, you might be limited in what you’re eligible for now. For example, you may be ineligible if you’ve earned another U.S. Bank promotion within the past two years for the same type of account.

Where Can I Find U.S. Bank Promotions?

You can find U.S. Bank’s promotions on its webpage, or by following the links above to the right page. Alternatively, if you’re opening the account through another route, you may need to include a coupon code to earn the bonus.

Are U.S. Bank Promotions Taxed?

Yes, U.S. Bank’s promotions are taxed just the same as any other bank bonus, and in a similar way to any interest that you earn. At the end of the year, U.S. Bank will issue you a Form 1099-INT that you can use to report the income on your taxes.

It’s a good idea to reserve some of the money that you earn from the bonus to pay your taxes later.