Start by identifying the type of account you need — checking, savings or both. Then compare fees, interest rates, minimum balance requirements, and access to digital tools. Consider whether you want an individual or joint account and how often you’ll need in-person branch or ATM access.
How to switch banks
Quick answer
Switching banks is simpler than you think. U.S. Bank lets you open a new account online in under five minutes, transfer your deposits and close your old account — all with straightforward, step-by-step guidance.
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How to switch your personal bank accounts in 3 simple steps
Whether you’re moving a checking account, a savings account, or both, the right banking setup should fit your life. Here’s how to make the switch with confidence.
1. Open your account
To open a U.S. Bank account, you will need your government-issued ID and Social Security number ready. Most accounts require a minimum opening deposit of $25.
Once your account is open, manage your account with mobile and online banking, or visit a U.S. Bank branch to make your initial deposit right away.
2. Transfer recurring deposits and payments
Update your automatic payments and subscriptions to your new account before closing the old one.
- Make sure all pending payments have cleared first.
- Set up direct deposit in the U.S. Bank Mobile App or online banking.
3. Close your old account
Download your bank statements and records before you close your old account. Withdraw any remaining funds and then confirm the closure in writing.
Note that if you draw the balance down to $0, the account may not actually get closed. Your account could then incur a monthly maintenance fee and become overdrawn. To prevent this from happening, be sure to have the bank close the account. Then obtain confirmation of the closure.
As the account owner, you can obtain confirmation of closure in various ways:
- Status indicating “Account closed”
- Ending balance of $0.00
- No pending transactions
There are several ways to get this confirmation:
- A secure message or email from the bank
- A mailed letter on bank letterhead
- Final statement issued after closing showing “account closed”
- Secure Message or Chat Transcript
- Printed confirmation if closed in a branch
Going forward, you can download the U.S. Bank Mobile App or enroll in online banking to manage everything in one place.
Understand your options before switching bank accounts
The right bank account depends on how you manage your money day to day. U.S. Bank offers personal checking and savings accounts designed to work with your financial goals.
Checking accounts
A checking account is your everyday spending hub — built for purchases, bill pay and direct deposit. U.S. Bank offers several personal checking options each with varying features and fee structures.
Key things to look for:
- No or low monthly maintenance
- Access to 24/7 online and mobile banking
- Fraud protection and FDIC insurance1
- Debit card with broad ATM access
Savings accounts
A savings account helps your money grow over time. The higher the interest rate, the more your balance works for you. U.S. Bank savings accounts are designed to help you build toward short and long-term goals.
Key things to look for:
- Competitive interest rates
- Goal-tracking tools
- The ability to link to your checking account
Get Smart Rewards when you switch
Open a U.S. Bank Smartly® Checking account2 and you automatically qualify for U.S. Bank Smart Rewards® — no sign-up needed. From day one, you’re eligible for fee waivers, discounts and perks that grow as you move through this five-tiered program.
Here are a few other features of switching to a U.S. Bank checking or savings account:
- Switch your direct deposit in minutes
- Use the spending tracker to view your monthly cash flow, income, and spending
- Get our Digital Security Coverage which protects your login credentials and more
- Link accounts from other institutions and see all your accounts in one view
Frequently asked questions
Switching is straightforward when you follow a clear process. Keep your old account open until all pending payments clear. Set up your new direct deposit and update automatic payments first. Then close the old account and get written confirmation of the closure.
A few additional tips:
- Order a new debit card if needed
- Download the U.S. Bank Mobile App to manage your account anytime
- Recycle your old debit card at any U.S. Bank branch, or destroy it along with any remaining checks after you’ve closed your account.
People switch banks to find lower fees, better interest rates on savings accounts, more ATM and branch locations, or stronger digital banking tools. Access to 24/7 customer service and mobile banking features are among the top reasons customers decide to make a change.
U.S. Bank offers an award-winning mobile app that has delivered 2 billion personalized insights to customers on spending trends and saving opportunities. Our Digital Security Coverage protects customers from unauthorized online transactions. In addition, there are more than 2,000 branches across 26 states, plus automatic alerts and FDIC insurance.1
Yes. The U.S. Bank Mobile App lets you manage your money, set savings goals, monitor your credit score and move money — all in one place.
Yes. You can connect multiple accounts within U.S. Bank online banking or the mobile app.
Most people complete the switch within two to four weeks. Opening a U.S. Bank account takes under five minutes. Updating direct deposits and automatic payments typically takes one to two pay cycles. Allow time for all pending transactions on your old account to clear before closing it.
No — you do not lose your credit score when you switch banks. Your credit score is tied to your credit history, which is tracked by the three major credit bureaus (Experian, Equifax, TransUnion).
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