Do you want to delve deeper into the U.S. Smartly Checking 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 Smartly Checking 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 Smartly Checking Account.
Fees
The U.S. Bank Smartly Checking Account has a monthly fee of $6.95 unless you meet one of the following requirements:
- Combined monthly direct deposittotaling $1,000+.
- Average account balance of $1,500
or greater. - Presence of an eligible U.S. Bank credit card.
Interest rate
We have created a table with the interest rates offered by this account. As you can see, the interest rates provided by the Smartly Checking Account are very low.
| Daily balance | APY | Interest rate |
|---|---|---|
| Under $1,500 | 0.001% | 0.001% |
| $1,500-$9,999.99 | 0.001% | 0.001% |
| $10,000-$24,999.99 | 0.001% | 0.001% |
| $25,000-$49,999.99 | 0.005% | 0.005% |
| $50,000-$99,999.99 | 0.005% | 0.005% |
| $100,000-$249,999.99 | 0.005% | 0.005% |
| $250,000-$499,999.99 | 0.005% | 0.005% |
| $500,000 and above | 0.005% | 0.005% |
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
This account has Overdraft service. If your account goes negative by more than $5, you will be charged a $36 fee per item. It’s crucial to closely monitor your banking transactions and balance to avoid overdraft fees.
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
Bank Smartly Checking 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 |
|---|---|
| Monthly Fee | $6.95 (waived with certain requirements) |
| Interest rate | Up to 0.05% APY |
| Zelle Service | Yes |
| Minimum Deposit | $25 |
| ATM Transactions | Free at U.S. Bank and MoneyPass ATMs |
| $2.5 fee at other ATMs | |
| Overdraft | $36 fee per item for account overdraft |
| Wire Transfers (Domestic) | Incoming: $20 |
| Outgoing: $30 | |
| Wire Transfers (International) | Incoming: $25 |
| Outgoing: $50 |
Best checking accounts 2023
We have conducted a comparison of the Smartly Checking 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.
- 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 Smartly Checking Account:
| Pros | Cons |
|---|---|
| Avoiding fees is easy | Very low interest rates |
| High number of branches | 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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