U.S. BANK SMARTLY® SAVINGS

Disclosures

1. Today’s interest rates and APYs for the U.S. Bank Smartly Savings account, including the interest rate bump, are variable, determined at the bank’s discretion, and can change at any time, including after the account is opened. Today’s interest rates and APYs, including the rate bump, are accurate as of today’s date. A minimum opening deposit of $25 is required to open.  

   The interest rates above are accurate for U.S. Bank Smartly Savings accounts opened on today’s date. If you are an existing U.S. Bank or U.S. Bancorp Advisors client, the advertised rates on the rate sheet may not apply. Log into your Online Banking or Mobile App to view your personalized account interest rate and interest rate bump or contact a banker. Select Products & Offers to see your personalized rates. Your personalized rates will also apply to any new U.S. Bank Smartly Savings accounts you open.

   Eligibility for an interest rate bump: An interest rate bump is applied to a U.S. Bank Smartly® Savings account when at least one account holder maintains a valid and in-good-standing eligible product. U.S. Bank Smartly Savings accounts without a qualified and eligible associated denoted product will not receive an interest rate bump. The interest rate bump will vary based on Combined Qualifying Balances (CQB).  One of the following eligible and in-good-standing products must be maintained:

   • U.S. Bank Smartly® Checking
   • Safe Debit account
   • U.S. Bank Smartly™ Visa Signature® Card

   What eligible products are included in your CQB: The following products offered by U.S. Bank and its affiliates are eligible for inclusion in your CQB:  

   • Consumer checking, money market, savings, Certificate of Deposits (CDs), and/or Individual Retirement Accounts (IRAs)
   • Personal Trust accounts
   • U.S. Bancorp Advisors brokerage accounts

   Note: Business and commercial products are never eligible.

   Qualified Balance: Funds on deposit in an eligible product, where you have ownership interest, are counted towards your CQB.

   • Examples of eligible customer to account relationship types, include, but are not limited to: Individual owner, joint owner, principal non-signer. 

   Conversely, funds on deposit in an eligible product that do not grant ownership interest, are not counted towards your CQB.

   • Examples of ineligible customer to account relationship types, include, but are not limited to: Trustee (IFI), Grantor (GRT), all Irrevocable Trust roles, Payable on Death, Representative Payee, Guardian.

   How is your CQB calculated: For jointly owned U.S. Bank Smartly Savings accounts, each owner’s qualifying balances will be reviewed. The interest rate bump and balance range information will be visible to all owners on the joint account.  There are two CQB calculations completed for every customer.

   • Monthly – Upon the opening of your first account, and thereafter at the beginning of each calendar month, your historical average CQB is calculated by summing all available previous days qualified balances and dividing by the number of days since the first eligible product was opened (90 calendar day maximum).
   • Daily – Each day your CQB is calculated by totaling your end of day qualified balance on deposit in an eligible product.

   How is your Smartly Interest Rate Bump Tier determined: After the eligible product verification is completed, on the next business day we will determine your Smartly Interest Rate Bump Tier. Your tier is based on the better of your daily or monthly CQB calculation. Once a tier has been assigned to you, it will not be downgraded for the remainder of that calendar month. However, at any point during a calendar month, you may receive a tier upgrade based upon your daily CQB. Assignment of an initial tier, monthly tier upgrade or downgrade, and/or daily tier upgrades generally are applied within five business days. For your individual accounts, your interest rate bump tier will be your tier (as described above). For joint accounts, the tier is assigned the highest tier associated with any account owner, if applicable. From there, within five business days, the interest rate bump is added to the standard interest rate to calculate the interest rate that will be applied to the entire account balance in the eligible U.S. Bank Smartly Savings account.  If the U.S. Bank Smartly Savings account is closed, the interest rate bump will cease immediately, and accrued interest will not be paid. If the required eligible product (U.S. Bank Smartly Checking, Safe Debit account or a U.S. Bank Smartly™ Visa Signature® Card) is closed but the U.S. Bank Smartly Savings account remains open, eligibility to receive an interest rate bump will remain valid until the end of the calendar month. Changes in the ownership structure of your U.S. Bank Smartly Savings account or the required eligible product may result in immediate loss of the interest rate bump.

   Balance and interest information:

   You must maintain the minimum balance needed for each tier in order to earn the Annual Percentage Yield (APY) disclosed. All rates and APYs are subject to change after the account is opened. Fees could reduce earnings on the account. Interest rates currently offered on applicable deposit accounts are determined at the bank's discretion and may change daily. The daily balance is the balance at the end of each business day, equal to the beginning balance for that day plus the current business day credits, minus the current business day debits. Business days are Monday through Friday; federal holidays are not included. We use the daily balance method to calculate interest on all deposit accounts. This method applies a daily periodic rate to the principal in the account each day. Interest on your check deposit begins to accrue on the business day we receive credit for your applicable deposit accounts. Interest will be compounded daily and credited to your account monthly for all savings accounts, except Standard Savings, which is paid quarterly. If you close your account before interest is credited, you will not receive the accrued interest.

2. Overdraft Protection Transfer Fees are waived on U.S. Bank Smartly Checking accounts. If you have linked eligible accounts, and the negative Available Balance in your checking account is $5.01 or more, the advance amount will transfer in multiples of $50. If, however, the negative Available Balance is $5 or less, the amount advanced will be $5. The Overdraft Protection Transfer Fee is waived if the negative Available Balance in your checking account is $50 or less. Please note, if you have Overdraft Protection and your account becomes overdrawn, Overdraft Protection funds will be accessed before the account is eligible for Overdraft Fee Forgiven. No Overdraft Protection Transfer Fee(s) will be charged for transfers from linked deposit accounts.

   Refer to Your Deposit Account Agreement (PDF), section titled Overdraft Protection Plans, for additional information.
   

3. U.S. Bank Overdraft Fee Forgiven Program - Consumer checking accounts (excluding Safe Debit accounts) assessed an Overdraft Paid Fee may qualify for a fee waiver. The Overdraft Fee Forgiven period starts the first business day your Available Balance becomes negative and you were charged an Overdraft Paid Fee(s). U.S. Bank will review your account at the end of the Overdraft Fee Forgiven period (11 p.m. ET) and if your Available Balance (excluding the Overdraft Paid Fees and including immediate and same day deposits), is at least $0 we will waive Overdraft Paid Fee(s) charged. Deposits that generally will qualify for Overdraft Fee Forgiven include: ACH and electronic deposits, cash deposits, wire transfers, ATM deposits at U.S. Bank ATMs, check deposits in branch and internal transfers from another U.S. Bank account. Deposits that generally will not qualify for Overdraft Fee Forgiven include: Mobile check deposit, extended hold placed on a deposit and deposits into new accounts opened less than 30 days where funds are generally made available the fifth business day after the day of your deposit. Refer to the Determining the Availability of a Deposit – All Accounts section of Your Deposit Account Agreement (PDF) for full funds availability details.

4. 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.

5. 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.

6. 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.

7. 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.

8. Eligible small business checking accounts include business Silver, Gold, Platinum, Premium, Non-Profit Checking accounts and U.S. Bank Business Essentials® Checking. The Monthly Maintenance Fee waiver is applicable when an account owner maintains an eligible small business checking account, open and in good standing (not in the process of closing).

9. 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.

10. 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.

11. FDIC insured to the maximum allowed by law.

12. Personal Trust account balances are the current account balance as of close of the prior day for eligible trust account types that are held for your benefit: IRAs, Agency accounts, Revocable Trust accounts and Custody accounts.

13. For U.S. Bancorp Advisors:
    Brokerage and investment advisory products and services are offered by U.S. Bancorp Advisors, LLC, an SEC-registered broker-dealer, investment adviser, member   FINRA/SIPC , and subsidiary of U.S. Bancorp and affiliate of U.S. Bank, N.A. Insurance services are offered by USBA Insurance Services, a dba of U.S. Bancorp Advisors, having a California domicile and principal place of business at 800 N. Brand Blvd., 16th Floor, Glendale, CA 91203, CA Insurance License #6011694. Products may not be available in all states.

    Smart Rewards qualifying balance information includes affiliated U.S. Bancorp Advisors (USBA) components, which is being translated for your convenience. USBA offers its products primarily in English and may not be able to offer certain products in a particular foreign language.

14. Trustee (IFI) - The person(s) or entity are serving in the capacity of trustee(s) but are not grantor(s). The trustee typically manages the assets of the trust account and distributes property according to the terms of the trust document. The IFI description applies to deposit accounts at U.S. Bank.

15. Grantor (GRT) - The individual(s) who created the trust. Grantors may also be referred to as the settlor or trustor. Grantors may also serve as the trustee(s) of the trust. The GRT description applies to deposit accounts at U.S. Bank.