U.S. BANK SMARTLY® CHECKING ACCOUNT

Disclosures

1. These Program Terms and Conditions (“Terms”) govern your participation in the U.S. Bank Refer a Friend program (the “Program”). Participation in the Program is voluntary and does not create any partnership, agency, employment, or fiduciary relationship between you and U.S. Bank. By participating in the Program, you agree to be bound by these Terms.

   Program Description. The Program allows eligible existing Bank Smartly® Checking or Bank Smartly® Savings account holders (each, a “Customer”) to refer their friends, family members, and known acquaintances (each, a “Friend”) to U.S. Bank for the purpose of opening a Bank Smartly® Checking account (“Account”) through the use of a unique referral link provided by U.S. Bank (a “Referral Link”), subject to the conditions, limitations, exclusions, and requirements described below. 

   Program Exclusions. The Program is not available to, and no Reward (as defined below) under the Program will be paid to, (i) residents of the state of Washington, (ii) residents of any state or territory where U.S. Bank does not currently offer consumer deposit accounts, (iii) individuals less than 18 years old, (iv) individuals that are participants in a U.S. Bank alliance relationship (e.g., State Farm, Edward Jones, etc.), or (v)  individuals who are current owners (whether individually or joint) of a U.S. Bank Trust account.

   Referral Link Not Transferable. Any Referral Link you (as a Friend) receive from a Customer under the Program is valid for you only and is not transferable.

   Your Account Opening Reward. Following your opening of a new Account by accessing and utilizing the Referral Link provided to you by a Customer, you are eligible to receive an incentive reward of $100 (“Reward”), subject to the following conditions:

   1. You (a) are not the owner (whether individually or with others) of an existing U.S. Bank consumer checking or savings account, (b) have not been the owner of such an account in the 1-year period preceding the date of Account opening, and (c) have not received any incentive or reward compensation in connection with any other U.S. Bank consumer checking and/or savings account offer in the 1-year period preceding the date of Account opening. 
   2. You have deposited at least $25 into your Account within 60 calendar days of its opening.
   3. You have enrolled in the U.S. Bank Mobile App or online banking within 90 calendar days of Account opening.
   4. You have established direct deposit and received a minimum of two qualifying direct deposits into your Account totaling at least $1,000 within 90 calendar days of Account opening. Qualifying direct deposits consist of regularly-scheduled electronic deposits of (a) wages or other compensation made through the Automated Clearing House network or (b) government benefits, such as Social Security. Other electronic deposits or person-to-person payments are not considered a qualifying direct deposit.

   Within 30 calendar days after the satisfaction of all the foregoing conditions, and provided that your Account is open, active, has a balance of $0 or greater, and is otherwise in good standing (e.g., not frozen due to potential fraud or other suspicious activity), U.S. Bank will pay your Reward by crediting $100 to your Account (regardless of the number of account owners). Rewards are promotional in nature and do not constitute interest or dividends. U.S. Bank may report the amount of any Reward as income received using IRS Form 1099-INT, and you are responsible for any applicable taxes. If you have any questions, please consult a tax professional.

   Confidentiality. U.S. Bank will not share any information regarding the status of any application you submit using a Referral Link provided by a Customer or any Account that you may open as a result of this Program except as otherwise permitted by applicable law.

   No Guarantee. Any Account opening Reward is contingent upon you accessing U.S. Bank’s account‑opening channel through the Referral Link you were provided by a Customer and successfully opening and maintaining an Account in accordance with these Terms. U.S. Bank does not guarantee that use of a Referral Link will result in referral credit, Account approval, or eligibility for any Reward. You must independently satisfy U.S. Bank’s standard Account opening requirements, including identity verification, customer identification, and fraud prevention procedures.

   Availability of Terms. U.S. Bank reserves the right to decline any referral, withhold or reverse any Reward, or disqualify any Program participant if such participant’s activity does not comply with these Terms or applicable law, or if the activity is determined to be deceptive, misleading, abusive, or otherwise inconsistent with the purpose of the Program. U.S. Bank may modify, suspend, or terminate the Program, or amend these Terms, at any time in its sole discretion and without any notice to you, provided that any such changes will not apply to any applications submitted under the Program that have resulted in the opening of an Account prior to the effective date of the change.

   A rate of 0.001% Annual Percentage Yield (APY) applies to accounts with balances between $0–$24,999.99. A rate of 0.005% APY applies to accounts with balances of $25,000.00 or more. U.S. Bank Smartly® Checking is a tiered-rate account. Advertised rates are variable and effective as of May 31, 2026. Rates in any tier are subject to change at any time before or after account opening. A minimum of $25 is required to open a U.S. Bank Smartly® Checking account. Fees could reduce earnings on the account. A $12 monthly maintenance fee applies to the U.S. Bank Smartly® Checking account, which may be waived if certain requirements are met. Refer to the Consumer Pricing Information for full details on fees, waivers and eligibility.

   Additional Terms & Conditions: Limit one checking bonus per eligible account. Current U.S. Bank employees are eligible to participate. Offer may not be available if you live outside of the U.S. Bank footprint. Offer not available through Alliance partnerships. Offer not available with Trust Accounts. Other restrictions may apply. All standard account terms, conditions and opening procedures apply. For a comprehensive list of account pricing, terms and policies, see the Your Deposit Account Agreement (PDF) and the Consumer Pricing Information (PDF) disclosure. These documents can be obtained by contacting a U.S. Bank branch or calling 800-872-2657.

2. 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.

3. 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.

4. 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).

5. 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.

6. 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.

7. In the event the Available Balance at the end of the business day is or would be overdrawn $50.01 or more and the transaction paid is $5.01 or more, an Overdraft Paid Fee may be assessed for each item. In the event the Available Balance at the end of the business day is or would be overdrawn $50.00 or less, an Overdraft Paid Fee will not be assessed. U.S. Bank limits the number of charges to a daily maximum of three Overdraft Paid Fees per day, no matter how many items we pay on your behalf.

8. 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.
   

9. 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.

10. 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.  

11. 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.