Do you want to delve deeper into the U.S. Safe Debit Account? At Responsible Economy, we have conducted a comprehensive analysis of all the features, requirements, fees, and everything you need to know about the U.S. Bank Safe Debit Account. You will also find a comparison of the best checking accounts. Let’s get started!
Features
In this section, we provide you with a detailed overview of all the features of the Safe Debit Account.
Fees
The Safe Debit Account has a monthly fee of $4.95. While most checking accounts in the United States allow you to avoid banking fees by meeting certain requirements, it’s not possible with this account, so you will have to pay the fee regardless.
Interest rate
The Safe Debit Account doesn’t offer any interest on the money you have in the checking account. If you’re looking to earn interest on your money, we recommend considering the best savings accounts.
Minimum deposit
The minimum initial deposit to open the account is $25.
ATM Transactions
You can withdraw money without fees at all U.S. Bank and MoneyPass ATMs. At other ATMs, there is a $2.5 fee for each withdrawal.
Overdraft
The Safe Debit Account does not have an overdraft service, meaning any charges that would put the account in negative numbers will be declined.
Wire Transfers
Incoming domestic bank transfers have a fee of $20, and outgoing transfers have a fee of $30. Incoming international transfers have a fee of $25, and outgoing transfers have a fee of $50.
Zelle
Safe Debit Account offers Zelle service for sending and receiving money without fees.
Summary table
Here’s a summary table with all the features we’ve just shown:
| Feature | Details |
|---|---|
| Fees | The Safe Debit Account has a monthly fee of $4.95. No fee avoidance options available. |
| Interest Rate | The Safe Debit Account does not offer interest on the checking account balance. |
| Minimum Deposit | The minimum initial deposit required to open the account is $25. |
| ATM Transactions | Withdraw money without fees at all U.S. Bank and MoneyPass ATMs. $2.5 fee per withdrawal at other ATMs. |
| Overdraft | The Safe Debit Account does not offer an overdraft service; any charges leading to negative balance are declined. |
| Wire Transfers | – Incoming domestic bank transfers: $20 fee.<br>- Outgoing domestic bank transfers: $30 fee.<br>- Incoming international transfers: $25 fee.<br>- Outgoing international transfers: $50 fee. |
| Zelle | The Safe Debit Account offers Zelle service for sending and receiving money without fees. |
Best checking accounts 2023
We have conducted a comparison of the Safe Debit Account with the best checking accounts you can open in the United States:
- It is very easy to avoid monthly commissions
- Welcome bonus of 200 dollars fulfilling conditions
- More than 16,000 ATMs in the United States
- $25 minimum deposit
- Very low interest rates
- It is very easy to avoid monthly commissions
- More than 16,000 ATMs in the United States
- $100 minimum deposit
- No welcome bonus
- High interest rates if you have a lot of savings
- It is very easy to avoid monthly commissions
- Nearly 12,000 ATMs
- $25 minimum deposit
- Welcome bonus of 300 dollars fulfilling conditions
- High interest rates on CDs
- No fees and no requirements
- Nearly 60,000 ATMs
- Welcome bonus of 250 dollars fulfilling conditions
- High interest rates on CDs
- No fees no direct deposits
- Fee-free withdrawals from ATMs around the world
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs
- No fees no direct deposits
- More than 60,000 commission-free ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on Savings
- No fees no direct deposits
- More than 50,000 commission-free ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs and Savings
- Commissions of $10 if you do not meet requirements
- No fees at Citibank ATMs
- Without minimum deposit
- No welcome bonus
- High interest rates on CDs
Requirements
To open this checking account, you need to meet the following requirements:
- Reside in the United States.
- Be at least 18 years old. Applicants ages 14 through 17 may open a Safe Debit account jointly with an adult. They may do so together online or in person at a branch.
- Have a valid U.S. phone number.
Documents
These are the documents that U.S. Bank can request from you:
- Proof of address, such as a utility bill.
- Social Security Number.
- Driver’s license.
Pros and cons
We have created a table with all the advantages and disadvantages of the Safe Debit Account:
| Pros | Cons |
|---|---|
| High number of branches | Very low interest rates |
| High fees on transfers | |
| No welcome bonus |
Interesting information about U.S. Bank
We have created a table with relevant information about U.S. Bank:
| Information | Description |
|---|---|
| Website | https://www.usbank.com/ |
| https://www.facebook.com/usbank/ | |
| https://twitter.com/usbank | |
| https://www.instagram.com/usbank/ |
Other U.S. Bank products
We’ve also provided a list of all the U.S. Bank products we have analyzed:
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Updated the day 1 September, 2023 by Alfredo Barandiarán
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