OPEN A CHECKING ACCOUNT

U.S. Bank Smartly^® Checking bonus: To be eligible, you or any owner(s) on your new Bank Smartly Checking account cannot have an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last 12 months or received other U.S. Bank consumer checking bonus offers within the past 12 months. To receive the bonus, you must open a new U.S. Bank Smartly Checking account either online through the promotional offer web page or over the phone from July 28, 2026, through and including October 20, 2026. The account must be funded with at least $25 within 60 days of account opening to prevent closure. Your promotional offer will be automatically applied if you open your account through the promotional offer web page, or if opening via telephone, must be activated by your banker at account opening. Additionally, you must enroll in the U.S. Bank Mobile App or online banking within 90 days of opening your account. You must also complete two or more direct deposits within 90 days of opening your account that total: $2,000 to $4,999.99 to earn the $250 bonus, $5,000 to $7,999.99 to earn the $350 bonus, or $8,000 or more to earn the $450 bonus. A direct deposit is an electronic deposit of your paycheck made through the Automated Clearing House (ACH) network or an electronic deposit of your government benefits, such as Social Security, from your employer or the government. Other electronic deposits or person-to-person payments are not considered a direct deposit. Your checking bonus (“adjusted interest”) will be credited to your new checking account within 60 days following the completion of all the offer requirements. Account must be open and have a positive balance to receive the bonus. Bonus will be reported as interest earned on IRS form 1099-INT, and recipient is responsible for any applicable taxes. Offer may not be combined with any other checking account bonus offers.

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 June 30, 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.

The interest rates and Annual Percentage Yields (APYs), including any applicable rate bumps, are applicable to U.S. Bank Smartly® Savings accounts opened today. If you are an existing U.S. Bank consumer savings or money market clients, or if you had a U.S. Bank consumer savings or money market account closed in the past 90 days, the advertised rates on this rate sheet may not apply. To review your personalized interest rate and potential rate bumps, please log in to Online Banking or the Mobile App, or contact a banker. You can also select Products & Offers to see your personalized rate.

The interest rates and APYs, including any applicable rate bumps, are current as of today's date. An initial deposit of at least $25 is required to open an account. Interest rates and APYs, including any applicable rate bumps, are variable and subject to change at the bank’s discretion at any time, including after the account is opened.

Eligibility for an interest rate bump: A U.S. Bank Smartly Savings account may qualify for an interest rate bump if at least one account holder maintains a valid and in-good-standing eligible product. Accounts without an associated eligible product will not receive an interest rate bump. 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

Eligible products for inclusion in your Combined Qualifying Balance (CQB): The interest rate bump will vary based on CQB. The following products offered by U.S. Bank and its affiliates are eligible for inclusion in your CQB:  

• All 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 not eligible for inclusion.

Qualified balances: Funds deposited in an eligible product where you maintain ownership interest are considered towards your CQB.

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

Non-Qualified balances: Funds deposited without an ownership interest do not count towards your CQB.

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

Your CQB calculation: U.S. Bank conducts two types of CQB calculations for each customer.

• The first is the Daily CQB, which is calculated by summing the end-of-day balances held in qualified U.S. Bank products.
• The second is the Average CQB, which is calculated by averaging your Daily CQB’s from the most recent prior days, beginning with the opening date of your first eligible product and up to a maximum of 90 calendar days.

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. 

Determination of your Smartly Interest Rate Bump tier: After the eligible product verification is completed, on the next business day we will determine your Smartly Interest Rate Bump Tier. Your tier is established based on the higher value between your Daily CQB or your Average CQB.  Once assigned, your tier will remain in place and will not be downgraded for the remainder of the calendar month. However, upgrades to your tier may occur at any time during the month. The assignment of your initial tier, as well as any daily or monthly upgrades or downgrades, typically takes effect within five business days.

For individually owned U.S. Bank Smartly Savings accounts, the tier is determined by the individual owner's tier. For jointly owned U.S. Bank Smartly Savings accounts, the account tier is set according to the highest tier held by any account owner. All account holders will be able to view the designated account tier. If you have multiple U.S. Bank Smartly Savings accounts, the applicable tier on each account may vary depending on its ownership structure.

Determination of account interest rate and accruals: The total interest rate applied to the eligible U.S. Bank Smartly Savings account balance is calculated by adding the interest rate bump to the standard interest rate. For existing clients, to review your personalized interest rate and potential rate bumps, please log in to Online Banking or the Mobile App, or contact a banker directly. You can also select Products & Offers to access your personalized rate. If a U.S. Bank Smartly Savings account is closed, interest will no longer accrue, and any previously accrued interest will not be disbursed. Should the required qualifying eligible products (U.S. Bank Smartly Checking, Safe Debit account or a U.S. Bank Smartly™ Visa Signature® Card) be closed while the U.S. Bank Smartly Savings account remains active, the interest rate bump eligibility may be immediately discontinued. Additionally, any changes to the ownership structure of the U.S. Bank Smartly Savings account may result in immediate termination 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 at any time. 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.

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.

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.

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.

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.

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.

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.

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.

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.