U.S. BANK SMARTLY® SUITE

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. 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.

3. 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).

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. 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 accounts opened on today’s date. If you have an existing U.S. Bank Smartly® Savings account, 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. This rate 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 Investments 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, primary 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. If applicable, the owner with the highest CQB will be used to determine the Smartly Interest Rate Bump Tier. 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.

6. Cash back rewards are earned under the U.S. Bank Smartly^TM Visa Signature® Card program.  These rewards are earned as “Points”, and U.S. Bank will credit your U.S. Bank Smartly^TM Visa Signature® Card with 2 Points for every $1 spent in eligible Net Purchases (Purchases minus credits and returns).  You may earn additional Points for a Smartly Earning Bonus if you:

   • Have or open a U.S. Bank Smartly® Savings account with a minimum opening deposit of $25; and
   • Have a “Qualifying Balance” with U.S. Bank in open consumer Bank Smartly® Checking, and/or Safe Debit account(s). Deposits in other U.S. Bank accounts do not qualify towards the Qualifying Balance requirement. Based on your Qualifying Balance, you will earn Points according to the following Smartly Earning Bonus tiers, except for the exceptions described below: 
     • Between $10,000 - $49,999.99, to earn a total of 2.5 Points per $1 of eligible Net Purchases (a base of 2 Points plus the Smartly Earning Bonus of 0.5 Points),
     • Between $50,000 - $99,999.99, to earn a total of 3 Points per $1 of eligible Net Purchases (a base of 2 Points plus the Smartly Earning Bonus of 1 Point), or
     • $100,000 or more to earn a total of 4 Points per $1 of eligible Net Purchases (a base of 2 Points plus the Smartly Earning Bonus of 2 Points).

   • Note: Account relationship exclusions apply. See Consumer Pricing Information PDF for additional details. 

   Exceptions:

   • Smartly Earning Bonus applies to a maximum of $10,000 in eligible Net Purchases each Card billing cycle. Eligible Net Purchases over $10,000 during each Card billing cycle will earn the base earn of 2 Points per $1 spent in Net Purchases.
   • Not all Purchases are eligible to earn the Smartly Earning Bonus: Purchases classified as (1) education/school, gift cards (including discount gift card sites), insurance, or tax; (2) “business-to-business transactions” (transactions with merchants who are in the business of supplying goods and services to other businesses, such as advertising services, plumbing/heating suppliers, construction material suppliers (excluding home improvement stores), and computer programming services), even if not made for a business purpose; and (3) transactions using third-party bill payment services will earn the base of 2 points per $1 spent in Net Purchases and may not earn additional Points for the Smartly Earning Bonus.  These Purchases are not calculated as part of the $10,000 cap.  Each merchant’s business is identified by a category code established by Visa. A Purchase will not earn additional Points if the category code applied to a merchant is in a category that is not eligible for additional Points earning. We do not determine the category codes applied to merchants’ businesses and reserve the right to determine which Purchases qualify for additional Points. 

   The Qualifying Balance is determined as follows:

   1. At the end of each day an average Qualifying Balance is calculated.  The balance is based on a 30-day average balance of all qualifying accounts and is calculated by adding together the end of day ledger balance(s) for every day in the last 30 days and dividing the total by 
      1. 30 calendar days, or
      2. the number of days since opening an initial qualified account (either a consumer Bank Smartly® Checking, or Safe Debit account).
   2. The Smartly Earning Bonus tier that is applied to your U.S. Bank Smartly credit card account is determined based upon the Qualifying Balance (as described above).
      
      If your daily Qualifying Balance qualifies you for a tier upgrade or downgrade, you will be moved to the higher or lower tier (within 5 business days).  This means that the bonus tier that will be applied to your account may vary during a Card billing cycle.  The Smartly Earning Bonus is applied based on the Purchase transaction date using the effective tier value determined as of the date the transaction posts.
      
      For joint Card accounts: The applicable Smartly Earning Bonus tier will be determined by reviewing the Qualifying Balance in the qualifying account(s) of each Cardmember (if there is more than one) and using the total Qualifying Balance of the individual whose account(s) have the highest total. (This means that all Cardmembers may be aware of the balance range of the Cardmember with the highest qualifying balance.) Balances of the Authorized User(s) will not qualify for determining the Smartly Earning Bonus tier.
      
      Points will expire if there is no reward, Purchase, or balance activity on your Card account for 12 consecutive statement cycles. If you make a Purchase return or otherwise receive credit on a Purchase transaction, Points will be deducted from your Points balance based on the Smartly Earning Bonus tier that applies to your card account when you make the return or receive the credit.

7. 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.  

8. Eligibility requirements and restrictions apply. Please refer to the Digital Services Agreement for more information.

9. U.S. Bank provides zero fraud liability for unauthorized transactions. Zero fraud liability does not apply to certain transactions made on a commercial/business account. You must notify U.S. Bank promptly of any unauthorized use. Certain conditions and limitations may apply. See the Digital Services Agreement for more information.