U.S. Bank Standard Savings Account

Would you like to learn about all the features of the U.S. Bank Standard Savings Account? Responsible Economy has analyzed the fees, requirements, yields, and conditions offered by U.S. Bank in their savings account. We have also included a comparison with the top savings accounts available in the United States, along with an explanatory video.

Explanatory video

We’ve created a video that provides a simple summary of all the features of the U.S. Bank Standard Savings Account. If you enjoy our content, please consider supporting us by subscribing to receive daily videos:

Features

In this section, you will find a comprehensive overview of the features of the U.S. Bank Standard Savings Account:

Interest rate

Daily balance*APYInterest rate
Any Balance0.01%0.01%
U.S. Bank Standard Savings Account rates

U.S. Bank Standard Savings Account offers a meager interest rate of 0.01% APY, making it one of the worst accounts for saving.

Fees

This savings account has a monthly fee of $4 unless you meet one of the following requirements:

  • Maintain a $300 minimum daily balance
  • Keep a $1,000 average monthly collected balance
  • Hold the account jointly with an individual age 17 and under
  • Open a U.S. Bank Smartly Checking accountand enroll in the Smart Rewards Primary tier or above

Minimum deposit

The minimum initial deposit is $25.

ATMs

U.S.Bank is one of the banks with the most branches and offices in the United States.

Deposit funds

You can deposit funds into the U.S. Bank Standard Savings Account by making bank transfers or you can also mail a check.

Best savings accounts 2023

We have compared the U.S. Bank Standard Savings Account with the best savings accounts available in the United States. We highlight the key characteristics of each savings account.

CIT Bank Logo
  • 4.05% APY
  • Minimum deposit: $100
  • No welcome bonus
  • Member FDIC
Marcus by Goldman Sachs
  • 4.30% APY
  • Minimum deposit: $0
  • Welcome bonus: $100
  • Member FDIC
synchrony-bank-logo
  • 4.35% APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC
Logo Sofi
  • 4.50% APY
  • Minimum deposit: $0
  • Welcome bonus: $250
  • Member FDIC
Barclays Logo
  • 4.35% APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC
Logo capital One CDs
  • 4.30% APY
  • Minimum deposit: $0
  • Member FDIC
  • No welcome bonus
Discover logo
  • 4.30 APY
  • Minimum deposit: $0
  • No welcome bonus
  • Member FDIC

Video with the best savings accounts

We also have made a video with the best savings accounts:

Pros and cons

Now that we’ve covered all the features of the U.S. Bank Standard Savings Account and analyzed the main characteristics of the top savings accounts, let’s take a look at a table summarizing the advantages and disadvantages:

ProsCons
High number of branches and ATMsMinimum balance of $125
Interest rate 0.01% APY
U.S. Bank Standard Savings Account pros and cons

Requirements

Opening a savings account is simple, as long as you meet the following requirements:

  • Must be over 18 years old
  • Live in the United States
  • Have an American phone

Documentation

You may also be asked to provide the following documentation:

  1. Certified copy of identity document (for each applicant): in most cases this will be your current, valid passport although some other types of ID are acceptable.
  2. Certified copy or original proof of address (for each applicant): your proof of address will normally be a bank or building society statement or a utility bill.
  3. Your signed Client Agreement.

Frequent questions

Here we answer all the questions you may have:

Conclusions and opinions

After conducting the review, our opinion is that U.S. Bank Standard Savings Account is not a competitive account due to its low 0.01% APY. This interest rate makes it one of the worst savings accounts in the United States.

Interesting information about U.S. Bank

We have created a table with relevant information about U.S. Bank:

InformationDescription
Websitehttps://www.usbank.com/
Facebookhttps://www.facebook.com/usbank/
Twitterhttps://twitter.com/usbank
Instagramhttps://www.instagram.com/usbank/
Interesting information about U.S. Bank

Other U.S. Bank products

We’ve also provided a list of all the U.S. Bank products we have analyzed:

Finally you have a related posts about savings account:

Updated the day 1 September, 2023 by Alfredo Barandiarán

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