The US Bank Checking $450 account-opening bonus is back! The direct deposit requirement for this bank bonus is very easy to complete, and I have also put together the latest fake DD methods. You can knock out the requirements and get the cash, and it may also help with future credit card applications. After closing the account for 12 months, you can get the bonus again, so time it well and you may be able to earn it multiple times. The promotion expires on November 10.

The specific requirements for the checking account bonus are as follows:

  • Complete at least 2 direct deposits within 90 days after account opening. You can earn different bonuses based on the total amount: $2,000-$4,999 earns $250; $5,000-$7,999 earns $350; $8,000 or more earns $450.
  • Set up US Bank online banking within 90 days after account opening; simply log in to your account online or in the app.
  • Deposit $25 within 30 days of account opening. A regular deposit is fine; no direct deposit is required for this.

If you do not want to use payroll, or do not have payroll available, to complete the direct deposit requirement, you can use some unofficial methods below, such as transfers (ACH) or withdrawals, to satisfy the requirement. The process is to add US Bank as an external bank at another bank, then initiate an ACH transfer from that other bank. Alternatively, add US Bank to an investment account or PayPal account and withdraw money directly. US Bank has one of the loosest direct deposit definitions among banks; almost all transfers count as direct deposits. US Bank also has a bonus tracker, so you can see for yourself whether the requirements have been met. Be sure to remember: do not use real-time transfers, and you need two direct deposits, not one!

  • Bank ACH: Ally Bank, Alliant Credit Union, American Express, Axos Bank, Bank of America, Capital One, Chase, Charles Schwab Bank, Discover Bank, PNC Bank, SoFi Bank, T-Mobile Money, Tech CU, Wells Fargo, and others should work.
  • Investment platform withdrawals: Charles Schwab, E*Trade, Fidelity, Robinhood, TreasuryDirect, Vanguard, Wealthfront.
  • P2P payment app withdrawals: Apple Cash, Cash App, Novo, PayPal, Relay, Square Cash, Venmo.

This is a very solid bonus, and we have added it to our ranking of the best bank account bonuses.

This account has become especially important after the Smartly 4% cash back credit card revamp, so it is still worth applying for as a package.

About US Bank

US Bank provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, government entities, and other financial institutions. It primarily has 3,106 branches and 4,842 ATMs in the western and midwestern United States. The company also owns Elavon, a processor of credit card transactions for merchants, and Elan Financial Services, a credit card issuer that issues credit card products for U.S. banks and other financial institutions.

One notable feature of US Bank is that, after you have a checking or savings account, it tends to be easier to apply for its credit cards. Cards such as the Altitude Reserve also used to require that you have a US Bank product first, though that is no longer required. I have used US Bank for a few years and have found it relatively hassle-free. One month I was charged a monthly fee because I was not paying attention, but after I contacted customer service, they waived it for me, which was quite nice.

US Bank Smartly Checking

Account-opening bonus

For the specific checking account bonus and requirements, please see the beginning of this article.

You can check whether your account-opening tasks have been completed in “my progress.”

For users who previously opened this account, the restrictions have been loosened a bit. Previously, if you had a checking account within the past 24 months or had received an account-opening bonus within the past 24 months, you could not get the bonus again. Now it has changed to 12 months. You can time it carefully and apply during this promotion. To receive the account-opening bonus, you need to meet two requirements:

  • You do not have a US Bank personal checking account at the time of account opening.
  • You have not received an account-opening bonus within the past 12 months.
U.S. Bank Smartly® Checking bonus: To be eligible, you or any owner (s) on your new Bank Smartly Checking account cannot have an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last 12 months or received other U.S. Bank consumer checking bonus offers within the past 12 months.

This 12/24-month rule has indeed been enforced, so make sure to pay attention and do not count on getting lucky. If you plan to time it, the fastest approach is to note the date after you receive the $450 account-opening bonus, then wait until around the same time next year, close the account first, and apply again. A more aggressive approach is to close the account as soon as you receive the bonus, but that is generally not ideal.

Direct deposit

If you do not want to use payroll, or do not have payroll available, to complete the direct deposit requirement, you can use some unofficial methods below, such as transfers (ACH) or withdrawals, to satisfy the requirement. The process is to add US Bank as an external bank at another bank, then initiate an ACH transfer from that other bank. Alternatively, add US Bank to an investment account or PayPal account and withdraw money directly. US Bank has one of the loosest direct deposit definitions among banks; almost all transfers count as direct deposits. US Bank also has a bonus tracker, so you can see for yourself whether the requirements have been met.

  • Bank ACH: Ally Bank, Alliant Credit Union, American Express, Axos Bank, Bank of America, Capital One, Chase, Charles Schwab Bank, Discover Bank, PNC Bank, SoFi Bank, T-Mobile Money, Tech CU, Wells Fargo, and others should work.
  • Investment platform withdrawals: Charles Schwab, E*Trade, Fidelity, Robinhood, TreasuryDirect, Vanguard, Wealthfront.
  • P2P payment app withdrawals: Apple Cash, Cash App, Novo, PayPal, Relay, Square Cash, Venmo.

This account-opening bonus is taxable and is generally issued on a 1099-INT as interest.

Account-opening requirements

  • You must be in a state with US Bank branches to open an account online. (Search link; just filter for branches.)
  • The checking account requires a minimum opening deposit of $25.

During the application process, you can enter a credit card to fund the new account, up to $250. According to DOC’s compilation, most AMEX, Chase, Barclays, and Citi cards do not code this as a cash advance. If you are concerned, you can also transfer funds from a bank account.

If you are not a U.S. citizen, you can also open an account online, though you may need to provide additional documents, such as a driver’s license/State ID, student visa, passport, credit card statement, and so on. In the past, when opening an account, a dedicated customer service representative would call and ask you to submit specific documents.

Dear xxx

Thank you for your application for a new U.S. Bank account.

Upon review of your application, it has been determined that we are in need of further identifiable information and are requesting a copy of your Driver's License/State ID and one of the following Resident Alien card, Work Visa , Student Visa or Work Authorization card. Please make sure you send over front and back of the requested documentation . Please email or fax the copies to my attention at 1-877-691-8492 (if you could please enlarge and lighten the copy so that it might be transmitted clearly it would be appreciated) .

*We may require verification of your current address if your Driver's License/State ID does not have the same current address as the application then I will need additional address verification in the form of a recent utility bill, pay stub, cable bill, cell phone bill , mortgage/credit card, statement from another bank. Please fax or email the full page of the statement.

Once received, we will proceed processing your application. Please feel free to contact me with any questions or concerns.

Please note, this information must be received in order to proceed with your request for a new account.
If we do not receive your information within 30 days we will consider your application withdrawn.

If There Are No US Bank Branches in Your State

If your state does not have a physical US Bank branch, you cannot open a checking account online. One workaround is to have any US Bank product. When applying, simply log in, and the system will automatically pull your personal information and bypass the state-based restriction. For example, the following methods may work; completing any one of them should be enough:

  • Apply for a US Bank credit card first, and then you can apply online. However, US Bank cards can be relatively hard to get without a checking account; if you do not have a strong credit history, you may be denied.
  • You can also open a US Bank investment account, and then you can apply online for a checking account. Although the investment account requires an SSN, it will not hard pull your credit account, and it is fine if you do not deposit money or invest. Choosing Self-directed investing is the best option.
  • You can also use the application link from the US Bank and State Farm partnership to open an account. You need to enter the promo code yourself to get the account-opening bonus. If you see an error saying the user cannot be found, you can try getting a random insurance quote on State Farm first (no need to actually buy it), and then try again afterward.
  • You can open a US Bank business checking account; this also does not restrict ZIP codes.
  • You can also open a US Bank CD. This requires depositing at least $1,000 for five months, but the advantage is that it can be opened from any state.
  • A US Bank savings account may also work; some readers have succeeded.

Fees

There are some important updates to the US Bank checking account. The original $6.95 monthly fee will increase to $12. Also, the benefit of waiving the monthly fee simply by holding a US Bank credit card will be discontinued. These changes take effect on May 19. If you are still relying on a credit card to waive the monthly fee, try to meet one of the waiver requirements below as soon as possible; keeping $1,500 in the account is the easiest option.

  • Have a total of $1,500 or more in direct deposits each month
  • Have a US Bank small business checking account
  • Higher-tier clients
  • Maintain an average account balance of $1,500
  • Special groups such as seniors, youth, and military members

There is no early termination fee, which means that in theory, you can close the account after receiving the account-opening bonus.

Client Tiers

In addition, US Bank’s client tiers have also changed. Going forward, Smartly Checking users automatically receive Bronze Tier benefits.

US Bank Savings Account (No Current Bonus)

Account-Opening Bonus

Monthly Fee

This savings account has a $4 monthly fee, but it can be waived through any one of the following methods:

  • Maintain a daily balance of at least $300 (details)
  • Maintain an average monthly balance of $1,000 (details)
  • Have a joint account with a youth

Automated Investor Account (No Current Bonus)

The specific requirements are as follows:

  • You have not opened an automated investing account in the past 24 months
  • Open the account between March 1 and April 15
  • Transfer in $1,000 within 30 days of account opening and keep it there for 120 days without transferring it out (only the principal counts; later gains or losses do not matter)

If you meet the requirements, the account-opening bonus will be paid within 5–8 months after account opening. If you factor in the 120-day requirement, it is roughly about 1 month after satisfying the requirement. This bonus is taxed as interest, and a 1099-INT will be issued.

Applying with an ITIN

According to reports, an ITIN together with a US address can also be used to apply for US Bank checking and savings accounts. You can try using my link. You can go in to view the details. There are quite a few experienced remote players in Zhishi Xingqiu; if you share the same interest, you can join and play together.

My Take

This bonus is very good. If you are interested in other account-opening bonuses, you can also consider the following:

Checking account-opening bonuses are taxable. The bank will send a 1099-INT the following year, and you can report it as interest.

Application Links