US Bank charges fees on most checking accounts, but the amount depends on the account type and whether you meet their requirements
US Bank's checking accounts come with monthly maintenance fees that range from $6.95 to $15, depending on which account you open. However, you can waive the fee by meeting one of several conditions: keeping a minimum balance (usually $500 to $1,500), setting up direct deposit, maintaining a certain number of debit card transactions per month, or linking the account to a US Bank savings or money market account. The specific requirements vary by account tier.
Beyond the monthly fee, US Bank charges additional fees for specific actions: overdrafts ($36 per occurrence), returned deposits ($10), wire transfers ($15 for outgoing domestic wires), and stop payments ($35). ATM withdrawals at out-of-network machines cost $2.50 per transaction. If you fall below the minimum balance requirement, you'll pay the monthly maintenance fee even if you otherwise met the waiver conditions.
Key Takeaways
- US Bank checking accounts charge $6.95 to $15 per month, but you can waive the fee by maintaining a minimum balance, setting up direct deposit, making a certain number of debit transactions, or linking to a savings account.
- Overdraft fees are $36 per transaction, and out-of-network ATM withdrawals cost $2.50 each.
- Wire transfers, stop payments, and returned deposits each carry separate fees ranging from $10 to $35.
- The exact fee waiver requirements depend on which US Bank checking account you choose, so compare the options before opening.
Monthly maintenance fees and how to avoid them
US Bank offers several checking account options, each with its own monthly fee and waiver path. The US Bank Standard Checking account charges $6.95 per month. You can waive this fee by maintaining a $500 minimum daily balance, setting up at least one direct deposit per month, or making 10 or more debit card transactions in a statement period.
The US Bank Smartly Checking account costs $9.95 per month and targets customers who want a simpler fee structure. The waiver requires either a $1,500 minimum daily balance or a monthly direct deposit of at least $500. The US Bank Premium Checking account runs $15 per month and is designed for higher-balance customers; it waives the fee with a $2,500 minimum daily balance or by linking to a US Bank savings or money market account with a $25,000 combined balance.
If you do not meet any of the waiver conditions in a given month, you will be charged the full monthly fee. US Bank does not prorate fees if you close the account mid-month, so timing matters if you are deciding whether to keep the account open.
Overdraft and insufficient funds charges
When you spend more than your account balance, US Bank charges $36 per overdraft transaction. The bank allows overdrafts on debit card purchases and ATM withdrawals by default, but you can opt out of overdraft coverage if you prefer transactions to be declined instead. Opting out prevents the $36 fee but also means your card will be rejected at the point of sale.
US Bank groups multiple overdrafts that occur on the same day into a single $36 charge, so if you overdraw by $100 and then make three more purchases that same day, you pay $36 total, not $144. However, if overdrafts happen on different days, each day incurs its own $36 fee. The bank also charges $10 if a check or ACH payment is returned due to insufficient funds.
ATM fees and out-of-network withdrawals
US Bank operates its own ATM network, and withdrawals from US Bank machines are free. If you use an ATM that does not belong to US Bank, you will pay $2.50 per withdrawal. The out-of-network ATM operator may also charge you an additional fee on top of US Bank's charge, so your total cost could be $3 to $4 per transaction.
US Bank is part of the Allpoint network, which offers surcharge-free ATM access at participating retailers and ATMs worldwide. If you travel frequently or live in an area without many US Bank branches, checking whether Allpoint machines are available near you can save money on ATM fees. You can find Allpoint locations through the US Bank website or mobile app.
Wire transfer, stop payment, and other transaction fees
Sending money via wire transfer costs $15 for a domestic wire and $45 for an international wire. Receiving a wire transfer is free. If you need to stop payment on a check, US Bank charges $35 per stop payment request. Cashier's checks cost $10 each, and replacement debit cards are free if ordered through the mail but cost $15 if you need them expedited.
Returned deposits (checks that bounce back from the recipient's bank) cost $10. If you request a copy of a cancelled check or bank statement from a previous year, US Bank charges $5 per item. These fees are less common than overdraft or ATM fees, but they can add up if you frequently use these services.
How to compare US Bank checking against other banks
Before opening a US Bank checking account, compare the total cost of ownership across several banks. Calculate the monthly maintenance fee after applying any waivers you can realistically meet, then add the cost of services you use regularly—ATM withdrawals, wire transfers, overdrafts. Some banks offer free checking with no minimum balance or direct deposit requirement, which may be cheaper if you cannot meet US Bank's waiver conditions.
Online banks and credit unions often have lower or no monthly fees, though they may have fewer physical branches or ATMs. If you value in-person service or need frequent ATM access, US Bank's fee may be worth paying. If you primarily bank online and rarely visit a branch, a bank with lower fees might save you money over time.
Frequently Asked Questions
Can I waive the US Bank checking account fee with a savings account?
Only the Premium Checking account allows you to waive the fee by linking to a savings or money market account. The combined balance across both accounts must reach $25,000. Standard and Smartly Checking accounts do not offer this waiver option.
What happens if I close my US Bank checking account mid-month?
US Bank does not prorate the monthly maintenance fee, so you will be charged the full amount for that month even if you close the account on the first day. If you want to avoid the fee, close the account on the last day of the month or after the fee has already posted.
Do I have to pay overdraft fees if I opt out of overdraft coverage?
Yes, opting out prevents overdraft fees because transactions will be declined instead of approved. However, some merchants may charge you a fee for a declined transaction, so opting out does not eliminate all possible charges—it just shifts the risk to the merchant's policies.
Are there any US Bank checking accounts with no monthly fee?
US Bank does not currently offer a completely free checking account with no monthly fee and no waiver requirements. All checking accounts charge a monthly fee unless you meet specific conditions like maintaining a minimum balance or setting up direct deposit.
How much does it cost to send an international wire from US Bank?
International wire transfers cost $45. This fee is separate from any fees the receiving bank may charge, so the total cost to the recipient could be higher depending on their bank's policies.