Checking Accounts

Disclosures

1. Bank Smartly Checking account Monthly Maintenance Fee: For newly opened U.S. Bank Smartly Checking accounts, the Monthly Maintenance Fee is waived for the first 2 statement periods from the account open date. Members of the military (requires self-disclosure), Workplace-Financial Wellness Program, U.S. Bank Global Transition Solutions, clients age 13-24 or clients 65 and over, pay no monthly maintenance fee. State Farm Alliance customers can waive the monthly maintenance fee as an owner of an eligible personal State Farm credit card. All others can have it waived by meeting any one of the following criteria: Have combined monthly direct deposits totaling $1,500 or more; or keep a minimum average account balance of $1,500 or more; or owner on a U.S. Bank Smartly™ Visa Signature® Card; or owner of an eligible U.S. Bank small business checking account; or qualify for one of the three Smart Rewards® tiers (Gold Tier, Platinum Tier or Platinum Plus Tier).

   The average account balance is calculated by adding the balance at the end of each calendar day in the statement period and dividing that sum by the total number of calendar days within the statement period. Other fees may apply.

   Please refer to the Consumer Pricing Information (PDF) disclosure for more details.

2. Safe Debit Account is subject to certain account limitations and eligibility requirements, including the use of bill pay and Mobile Check Deposit. Please refer to the U.S. Bank Safe Debit Account Terms and Conditions (PDF) and Safe Debit Account Pricing and Information (PDF) guide for details. Refer to Your Deposit Account Agreement (PDF) and the Consumer Pricing Information (PDF) disclosure for a summary of fees, terms and conditions that apply.

3. We will not charge you an Overdraft Paid Fee, but you will not be able to use your debit card or withdraw funds from your account until you transfer or deposit enough money to bring your available balance positive.

4. ATM Transaction Fee. U.S. Bank will assess this fee for each ATM Transaction conducted at the Non-U.S. Bank ATM. This means that you may be charged more than one ATM Transaction fee at a Non-U.S. Bank ATM during a single ATM session. Non-U.S. Bank ATMs are defined as any ATM that does not display the U.S. Bank logo in any manner, physically on the ATM or digitally on the  screen.

   ATM Surcharge. Non-U.S. Bank ATM owners may apply a surcharge fee on ATM transactions at their ATMs. U.S. Bank participates in MoneyPass®, an ATM surcharge free network. To find MoneyPass ATM locations, select “visit the MoneyPass locator” at the bottom of our ATM locator search results to be taken to the MoneyPass website. If you use an ATM that uses the MoneyPass® Network and are charged a surcharge fee, please call us at 800-USBANKS (872-2657) for a refund of the surcharge fee. However, a Non-U.S. Bank ATM Transaction Fee may be assessed on transactions at a MoneyPass ATM.

   Please refer to the Consumer Pricing Information (PDF) disclosure section titled Miscellaneous Checking, Savings or Money Market Fees for a summary of ATM transaction fees.

5. When changing checking account types, corresponding Non-U.S. Bank ATM transaction fee waivers will become available on the first day of the next statement cycle. ATM transaction fee waivers are only applicable for your U.S. Bank Smartly^® Checking accounts.

6. To send and receive money in minutes with Zelle®, both parties must have an eligible checking or savings account, and have a United States mobile number registered in your online and mobile banking profile for at least three calendar days. Transactions between enrolled customers typically occur in minutes.  

7. Zero fraud liability – U.S. Bank provides zero fraud liability for unauthorized transactions. Cardholder must notify U.S. Bank promptly of any unauthorized use. Certain conditions and limitations may apply. See the Electronic Fund Transfers section in Your Deposit Account Agreement (PDF) for details.

8. When changing existing checking options or customer group, check order discounts may not be immediately available, but will generally be available within five business days. Additional shipping fees may apply if expedited or shipped outside the continental United States.

9. Bank Smartly Savings account Monthly Maintenance Fee: The $5 monthly maintenance fee is waived when you are an owner of a Bank Smartly® Checking, Safe Debit account, Bank Smartly™ Visa Signature® Card, or for accounts with a minor under the age of 18.

10. Exclusive U.S. Bank Smart Rewards® cash back deals are available to U.S. Bank personal credit card members whose accounts are open and in good standing (not past due or overlimit) who: (1) have a U.S. Bank Smartly® Checking account which automatically enrolls the account in Smart Rewards and (2) qualify for the Silver Tier of the program or higher. In addition, exclusive U.S. Bank Smart Rewards® cash back deals are available regardless of tier qualification to U.S. Bank personal card members who identify as part of the following Customer Group segments: Military, Alliance (Including State Farm), Global Transition Solution (Formally Referral Banking) and U.S. Bank Employees. Card members who have both a personal credit card account and a business credit or charge card account with U.S. Bank are not eligible for these offers. Smart Rewards cash back deals appear in online banking and the U.S. Bank mobile app and will change approximately every 45 days. Following automatic enrollment in Smart Rewards program, offers will be made available to eligible card members within 1-2 billing cycles. To access and activate the cash back deals, card members must log in to online banking or the mobile app and select the Smart Rewards cash back deals to activate them. Once the deal or deals are activated, shop online or in store at offer-activated stores using your enrolled U.S. Bank personal credit card at checkout. Terms and conditions applicable to each offer are provided with the offer. Cash back is automatically credited within 1-2 billing cycles to the card or account used to complete the deal. 

11. Maintaining an open U.S. Bank Smartly^® Checking account in the Smart Rewards^® Gold Tier, at a minimum, is required to waive the IRA annual fee. The IRA annual fee waiver does not apply to Personal Trust IRAs.

12. If you have any questions, please call the State Farm Banking Customer Service at U.S. Bank, 800-890-2233.

13. The Retirement Money Market minimum opening deposit is $100 for State Farm customers.

14. The Bank Smartly® Checking Account Monthly Maintenance Fee will be waived if the account holder also has a qualifying credit card account. Qualifying credit card accounts include the U.S. Bank Smartly™ Visa Signature® Card and personal State Farm credit cards for Alliance customers. Cards must be open and in good standing (not past due or overlimit) and you are the account owner. If a qualifying credit card is closed at any time, you will no longer be eligible for the monthly maintenance fee waiver associated with this card. No limitation on the number of U.S. Bank Smartly Checking accounts that can receive this benefit.

15. Valid if the customer maintains an Elite Money Market account only (without a Bank Smartly® checking account); Monthly Maintenance Fee waiver starts on account open date.

16. For banking clients of U.S. Bank Wealth Management, Private Wealth Management or Ascent Private Capital Management.

17. Contact your Wealth Management Banker for more information.

18. For more information, refer to Your Deposit Account Agreement (PDF), in the section titled Funds Availability.

19. The standard insurance amount is $250,000 per depositor, for each deposit insurance ownership category.

20. Variable rate account – The interest rates and Annual Percentage Yields (APYs) are variable, determined at the bank’s discretion and can change at any time, including after the account is opened. Speak to a banker for current deposit rates, disclosures on rates, compounding and crediting, and other balance information.