Personal Finance

2 min read

July 05, 2020

US Bank Checking and Savings Accounts Fees, 2020

Fees and charges associated with the US Bank checking and savings accounts

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In search for a new bank account to store, save or spend your hard-earned money? Be warned! Behind those bright billboards of smiling grandmas in newly outfitted veneers lie a labyrinth of hidden fees. Large banks want you to believe that their accounts are free and easy to use. Dig deeper and you’ll find more than fifteen different charges waiting to entrap you - from monthly maintenance fees to overdraft and wire transfer fees.

But fret not champ! We’re here to help. Read on to understand all the fees associated with the US Bank account.

US Bank Checking Accounts

US Bank offers four types of checking accounts,

  • US Bank Safe Debit Account
  • US Bank Easy Checking
  • US Bank Gold Checking
  • US Bank Platinum Checking
US Bank Checking Account Fees
US Bank Checking Account Fees

US Bank also offers a specialized checking account for university students called the Student Checking Account.

US Bank Savings Accounts

US Bank offers four types of savings accounts,

  • US Bank Standard Savings
  • US Bank Elite Money Market Account
  • US Bank Package Money Market Savings - only for Gold Checking members
  • US Bank Platinum Select Money Market - only for Platinum Checking members
US Bank Savings Account Fees
US Bank Savings Account Fees

US Bank Wire Transfer Fees

  • Incoming domestic wire transfer → $20
  • Incoming international wire transfer → $25
  • Outgoing domestic wire transfer → $30
  • Outgoing international wire transfer → $50

US Bank Additional Fees & Charges

  • Overdraft Fee - $36 per overdraft across all accounts except the SafeDebit account.
  • Extended Overdraft Fee - $36, charged when balance remains negative for seven consecutive days.
  • ATM Withdrawal Fee - $2.50 for out-of-network withdrawals and $5 for international withdrawals.
  • International Transaction Fee - 2% on all international transactions in USD, 3% on all international transactions in foreign currency.
  • Cashiers Check Fee - $8 per check.
  • Money Order Fee - $5 per money order.

Our Verdict

While US Bank offers extensive branch and ATM coverage with its national presence, near-zero interest rates and a bevy of hidden charges make their checking and savings accounts an expensive proposition for most consumers.

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