Banking and Finance

US Bank | Banking Fees

Elizabeth
May 29, 2020

According to some studies, people lose nearly $170 a year just in monthly bank fees. Others report that over the course of a decade you can lose out on at least a $1,000 in hidden fees and maintenance costs simply for having an open account with a bank. 


At Earn Cheese, we’re dedicated to ensuring that our users pay $0 in monthly fees while enjoying other zero-fee perks such as no overdraft fees, no international wire fees, and no minimum balance fee. Larger international banks such as US Bank aren’t usually able to offer the same level of fee-free assistance.


So, how much do you pay to open a bank account with US Bank? What are the fees associated with a US Bank checking account? And, what are your options with various different types of US Bank checking accounts? We’ve got the answers for you.

How Much Are US Bank Banking Fees?

US Bank Banking Fees

How Much Does it Cost to Open a Bank Account at US Bank?

Some large, international banks require that you meet a minimum opening deposit requirement in order to open an account with them. A minimum of $25 is required to open a US Bank Personal Checking Package. And, similar to other banks each different type of checking account comes with its own monthly fee and individual ways to waive the monthly US Bank banking fee.

What Are the Different Kinds of US Bank Checking Accounts?

Each US Bank checking account comes with unique monthly fees and other charges or perks that can make one more expensive or more ideal than another. Aside from the bank’s student banking option, the four main US Bank checking account options are:


  • Safe Debit
  • Easy 
  • Gold
  • Platinum


What’s the same across the board? You’ll get a US Bank debit card when opening each account plus access to mobile pay deposits and bill pay features.

US Bank Safe Debit Checking Account

The monthly service fee for the US Bank Safe Debit Checking Account is $4.95, which is less than the standard $12 charged across other major banks such as Bank of America and Chase. Unfortunately, however, you cannot waive the monthly maintenance fee for this account.


But, you can enjoy no overdraft fees and no checks. It’s US Bank’s most basic checking account option for non-students.

US Bank Easy Checking Account

The monthly service fee for the US Bank Easy Checking Account is $6.95. You can waive the monthly maintenance fee by:


  • Having combined monthly direct deposits that total $1,000 or more
  • Maintain an average account balance of at least $1,500
  • Being 65 years or older


With this account and all subsequent accounts, there is no Overdraft Protection Transfer Fee when a transfer is made from a linked deposit account. Both the Safe Debit and the Easy Checking Account come with fees for using non-US Bank ATMs, which is $2.50 for both domestic and international withdrawals.

US Bank Gold Checking Account

The monthly service fee for the US Bank Gold Checking Account is $14.95. You can waive the monthly maintenance fee by:


  • Having a US Bank personal loan, line or credit card


What sets the US Gold Checking Account apart from the other options is that, when opening the account, you can also open a Package Money Market Savings account for competitive interest rates with no monthly maintenance fee.


The Paper Statement Fee for this account is also waived. And, like the Platinum account, you can take 0.25% of your new first mortgage loan amount and deduct it from the closing costs (up to a maximum of $1,000).

US Bank Platinum Checking Account

The monthly service fee for the US Bank Platinum Checking Account is $24.95. You can waive the monthly maintenance fee by:


  • Having $25,000 in combined personal deposits or credit balances with US Bank
  • Having a personal trust relationship with US Bank Wealth Management


The biggest perk of this account is the fact that there are no non-US Bank ATM fees (it’s the same with the Gold Checking Account but you’re only limited to two withdrawals per period). And, you can open a Platinum Select Money Market Savings account for exclusive interest rates with no monthly maintenance fee.


On top of that, there is no annual fee for Home Equity Line of Credit and no fees for Overdraft Paid, Overdraft Returned, or Extended Overdraft with $1 million or more in combined personal balances.

How Much Does it Cost to Open a Savings Account at US Bank?

There are five main savings account options at US Bank:


  • Platinum Select Money Market Savings ($0 monthly fee; $25 minimum opening deposit)
  • Package Money Market Savings ($0 monthly fee; $25 minimum opening deposit)
  • Elite Money Market Account ($10 monthly fee; $100 minimum opening deposit)
  • Standard Savings Account ($4 monthly fee; $25 minimum opening deposit)
  • Retirement Money Market Account ($0 monthly fee; $100 or $25 minimum opening deposit)


The Standard Savings Account is the best option for regular savers interested in the basic features of a savings account with minimal fees. You can waive the monthly fee by maintaining a $300 minimum daily balance.


The Platinum Select Money Market Savings account is only available to Platinum Checking Package customers. And, the Package Money Market Savings account is only available to Gold Checking Package customers.

What Are the Other US Bank Monthly Banking Fees?

Like other major banks, there are certain fees associated with a US Bank account. You can expect to incur US Bank monthly maintenance fees, US Bank overdraft fees, plus wire transfer fees and foreign transaction fees.


Some of the most common US Bank fees for a basic checking account are as follows (unless otherwise mentioned that they’re waived for meeting certain requirements):


  • $34 overdraft fee
  • $30 stop payment fee
  • $20 incoming domestic wire transfer fee
  • $30 outgoing domestic wire transfer fee
  • $25 incoming international wire transfer fee
  • $50 outgoing international wire transfer fee
  • $2.50 non-US Bank ATM fee (domestic and international)


Want to learn how to avoid BoA monthly banking fees?


  • Open the right checking or savings account for your lifestyle and income
  • Maintain the right minimum balance
  • Link your accounts to reach the minimum balance
  • Set up qualifying direct deposits
  • Set up bill pay if available
  • Don’t overspend to avoid insufficient funds and overdraft fees

What’s A Better Banking Option Than US Bank?

While most people are able to waive the fees associated with a US Bank checking or savings account, none of their accounts really offer you the chance to really rack up rewards in the form of cashback. 


The Cheese Debit Card allows you to earn cashback on all spending. And, it does so while allowing you to enjoy zero fees. No banking fees, high cashback rates, and even the chance to earn multiple Cheese Rewards? It’s as good as it sounds. Sign up to join our waiting list today.

Here's more info about banking fees:

Bank of America | Banking Fees

Chase | Banking Fees

CitiBank | Banking Fees

PNC Bank | Banking Fees

Discover Bank | Banking Fees

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