U.S. Bank Review: The Pros and Cons of U.S. Bank

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U.S. Bank: Overall Bank Rating

U.S. Bank Pros and Cons

U.S. Bank Personal Bank Accounts

U.S. Bank Standard Savings Account - Product Name Only

The US Bank Standard Savings Account is the only U.S. Bank savings account offered and could be a decent option if you can waive the U.S. Bank Standard Savings Account - Fees Display. 

See Insider's U.S. Bank Savings account review.

U.S. Bank Smartly™ Checking - Product Name Only

U.S. Bank Safe Debit account - Product Name Only

U.S. Bank has two checking accounts: the U.S. Bank Safe Debit account - Product Name Only and Smartly Checking Account - Product Name Only.

The Smartly Checking Account - Product Name Only will likely be a stronger option if your goal is to open a checking account that lets you waive monthly service fees or want to earn a checking account bonus.But the U.S. Bank Safe Debit account - Product Name Only could be worth considering if you want to avoid overdraft fees.

See Insider's U.S. Bank Personal Checking accounts review.

U.S. Bank Standard CD - Product Name Only

U.S. Bank offers decent CDs, with terms ranging from one month to five years. U.S. Bank CD rates are highest on its CD Specials, which pay U.S. Bank CD Special - APY APY.

U.S. Bank Elite Money Market Account - Product Name Only

The US Bank Elite Money Market Account might be a compelling account if you want a money market account with a low minimum opening deposit. 

U.S. Bank Business Checking and Money Market Accounts

U.S. Bank Silver Business Checking Package - Product Name Only

U.S. Bank Gold Business Checking Package - Product Name Only

U.S. Bank Platinum Business Checking Package - Product Name Only

U.S. Bank Platinum Business Money Market Account - Product Name Only

U.S. Bank has three types of business checking accounts and three business money market accounts, including the U.S. Bank Platinum Business Money Market Account - Product Name Only. The best business checking account option for you will likely depend on how many monthly transactions you need to make each month.

Also, bear in mind the U.S. Bank Silver Business Checking Package - Product Name Only is the only option that has U.S. Bank Silver Business Checking Package - Fees Display. With the other business checking accounts, you'll need to meet certain requirements to waive the fee.

See Insider's U.S. Bank business checking account review here.

U.S. Bank Personal Credit Cards

U.S. Bank Shopper Cash Rewards™ Visa Signature® Card - Product Name Only

See Insider's U.S. Bank Shopper Cash Rewards credit card review.

U.S. Bank Altitude® Go Visa Signature® Card - Product Name Only

See Insider's U.S. Bank Altitude Go Visa Signature Card review.

U.S. Bank Cash+® Visa Signature® Card - Product Name Only

See Insider's U.S. Bank Cash Plus Signature card review.

U.S. Bank Altitude® Connect Visa Signature® Card - Product Name Only

See Insider's U.S. Bank Altitude Connect card review.

U.S. Bank Visa® Platinum Card - Product Name Only

See Insider's U.S. Bank Visa Platinum card review.

U.S. Bank Altitude® Reserve Visa Infinite® Card - Product Name Only

See Insider's U.S. Bank Altitude Reserve Visa Infinite Card review.

U.S. Bank FlexPerks® Gold American Express® Card - Product Name Only

See Insider's U.S. Bank FlexPerks Gold American Express Card review.

U.S. Bank Altitude® Go Visa® Secured Card - Product Name Only

U.S. Bank Cash+® Visa® Secured Card - Product Name Only

U.S. Bank has a variety of credit cards, including secured credit cards, rewards credit cards, and travel credit cards. In addition to the credit cards listed, U.S. Bank has a Secured Visa Card.

U.S. Bank Business Credit Cards

U.S. Bank Business Triple Cash Rewards World Elite Mastercard® - Product Name Only

U.S. Bank Business Leverage® Visa Signature® Card - Product Name Only

U.S. Bank Business Platinum Card - Product Name Only

U.S. Bank has three business credit cards. The U.S. Bank Business Triple Cash Rewards World Elite Mastercard® - Product Name Only and U.S. Bank Business Platinum Card - Product Name Only do not charge any annual fees.

See Insider's U.S. Bank Business Triple Cash Rewards Card review.

U.S. Bank Auto Loans

U.S. Bank offers auto loans for new and used vehicles for terms of up to 60 months. You can refinance a car loan if live in one of 26 eligible US states. For the most part, you'll be able to refinance your loan if you live in a state that has a U.S. Bank branch.

See Insider's U.S. Bank auto loan review.

U.S. Bank Personal Loans

You might find a U.S. Bank Personal Loan - Product Name Only worthwhile if you have a U.S. Bank personal checking account. Checking account customers with credit approval can borrow up to $50,000, while people who aren't U.S. Bank checking account customers can only borrow up to $25,000.

See Insider's U.S. Bank personal loans review here.

U.S. Bank Mortgages

U.S. Bank has a variety of home loans, including conforming loans, jumbo loans, FHA loans, VA loans, construction loans, HELOC, and home equity loans. It doesn't have USDA loans, though.

See Insider's U.S. Bank mortgage review here. 

How U.S. Bank Works

U.S. Bank has more than 2,000 branches across 26 states. Branch locations are available in: 

• Arizona
• Arkansas
• California
• Colorado
• Idaho
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky
• Minnesota
• Missouri
• Montana
• Nebraska
• Nevada
• New Mexico
• North Carolina
• North Dakota
• Ohio
• Oregon
• South Dakota
• Tennessee
• Utah
• Washington
• Wisconsin 
• Wyoming

It offers ATMs across 40 states and is part of the MoneyPass ATM Network, which provides access to over 37,000 ATMs.

If you have questions about bank products or services, visit the FAQ page on the bank's website. Customer service representatives are also available over the phone 24/7.

The bank's mobile app received 4.7 out of 5 stars in the Google Play Store. In the Apple Store, it has 4.8 out of 5 stars.

U.S. Bank is FDIC insured. Up to $250,000 is protected in an individual account, and $500,000 is secure in a joint bank account. 

Is U.S. Bank Trustworthy?

The Better Business Bureau rates businesses on how they handle customer issues and whether they have transparent business practices. The BBB gave U.S. Bank an A- rating because of government action taken against the bank.

A good BBB rating doesn't necessarily mean that your relationship with a business will be perfect. If you have friends or family that have used US Bank, chat with them about their perspectives. Online customer reviews are another option. 

U.S. Bank has been involved in a few public controversies.

In 2022, US Bank paid $37.5 million in a settlement with the Consumer Financial Protection Bureau. The CFPB accused the bank of obtaining customers' credit reports and opening checking accounts, savings accounts, credit cards, and lines of credit without their knowledge. 

In 2020, US Bank, Nationstar Mortgage, and PNC Bank paid $74 million in an agreement with the Department of Justice. According to the press release, the Department of Justice said the three mortgage services didn't follow bankruptcy regulations and had service errors that impacted borrowers.

How U.S. Bank Compares

U.S. Bank vs. Bank of America

Bank of America has 4,200 branches in 37 states while U.S. Bank has over 2,000 branches in 26 states. Bank of America could be a better option if you prefer a large branch network.

You might prefer U.S. Bank if you're looking for more options for home loans. Bank of America doesn't have a USDA loan, reverse mortgage, home equity loan, or construction loan.

U.S. Bank vs. Chase

You might lean more toward Chase if you find it appealing to open specialty bank accounts for college students, kids, or teens. Accounts for minors also come with unique features like savings tools or parental monitoring features.

Chase will also be a more compelling choice if you prioritize a large branch network. It has over 4,800 branches, while US Bank has over 2,000 branches.

U.S. Bank FAQs

What is U.S. Bank?

U.S. Bank is a large bank with branches in 26 US states and employees in 13 countries. It is insured by the FDIC, and offers a well-reviewed mobile app. U.S. Bank is owned by U.S. Bancorp and headquartered in Minneapolis, Minnesota.

Is U.S. Bank a safe bank?

Yes, U.S. Bank is a safe bank, because it is federally insured by the FDIC. This means your money is safe even in the rare event a bank shuts down. Up to $250,000 is secured in a U.S. Bank savings, checking, CD, or money market account. 

Which states have U.S. Bank branches?

U.S. Bank has branches in 26 states: Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin, and Wyoming.

Who owns U.S. Bank?

U.S. Bancorp owns U.S. Bank. U.S. Bancorp is a publicly traded company that is not affiliated with the U.S. government.

Is U.S. Bank taking over Union Bank?

Yes, Union Bank is transitioning into joining U.S. Bank. The transition started in December 2022, and different types of accounts — such as bank accounts, mortgages, and credit cards — have gradually switched over to U.S. Bank throughout 2023.