Do you want to learn about all the features of the student checking account at U.S. Bank? At Responsible Economy, we present you with all the details of the student account at U.S. Bank and compare it to the best student checking accounts you can open in the United States. Let’s get started!
Features
In this section, we show you all the features.
Fees
The U.S. Bank student account has a monthly fee of $5 unless you meet one of the following requirements:
- Combined monthly direct deposit totaling $1,000+.
- Average account balance of $1,500 or greater.
- Presence of an eligible consumer U.S. Bank credit card
Interest rate
This account does not offer any type of interest for the money you have saved. If you want an account that generates interest, take a look at the best savings accounts.
Wire transfers
Here is a list of different types of bank transfers and their fees:
- Domestic – Incoming $20.
- Domestic – Outgoing $30.
- International – Incoming $25.
- International – Outgoing $50.
Youth aged between 18 and 24 are entitled to up to 2 fee-free incoming bank transfers per period.
Minimum deposit
To open the account, you need a minimum deposit of $25.
ATMs
You can withdraw money without fees at all U.S. Bank ATMs, and at other ATMs you have up to 4 fee-free withdrawals per period.
Bonus
U.S. Bank does not offer any welcome bonus.
Overdraft service
It does not offer overdraft service, so all payments that would result in a negative account balance will be declined.
Summary table
We have created a summary table with all the features we analyzed in the previous section:
| Feature | Details |
|---|---|
| Fees | $5 unless you meet requirements |
| Interest Rate | 0% APY |
| Wire Transfers | Domestic – Incoming $20. Domestic – Outgoing $30. International – Incoming $25. International – Outgoing $50. Youth aged between 18 and 24 are entitled to up to 2 fee-free incoming bank transfers per period. |
| Minimum Deposit | $25 |
| ATMs | You can withdraw money without fees at all U.S. Bank ATMs, and at other ATMs you have up to 4 fee-free withdrawals per period. |
| Bonus | $0 |
| Overdraft Service | No |
Comparison best student checking accounts
We have conducted a comparison of the U.S. Bank student account with the best student checking accounts you can open in the United States:
- It is very easy to avoid monthly commissions.
- Welcome bonus of 100 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.
- $0 welcome bonus.
- More than 70,000 ATMs in the United States.
- $0 minimum deposit.
- Very low interest rates.
- $0 fees up to 23 years old.
- $0 welcome bonus
- Two withdrawals free
- $0 minimum deposit
- Very low interest rates
- $0 Annual fees
- $0 welcome bonus
- ATMs free: BMO and Allpoints
- $0 minimum deposit
- Very low interest rates
- Easy to avoid monthly commissions
- $0 welcome bonus
- ATMs free: U.S. Bank
- $0 minimum deposit
- Very low interest rates
- Easy to avoid monthly commissions
- $0 welcome bonus
- ATMs free: TD Bank
- $0 minimum deposit
- Very low interest rates
- No monthly fees
- $0 welcome bonus
- More than 70,000 ATMs in the United States
- $0 minimum deposit
- High interest rates.
- It is very easy to avoid monthly commissions
- $0 welcome bonus
- fulfilling conditions
- More than 60,000 ATMs in the United States
- $25 minimum deposit ($0 online)
- Very low interest rates
- It is very easy to avoid monthly commissions
- No welcome bonus
- 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
Requirements
To open a student checking account at U.S. Bank, you need to fall into two age groups: those aged between 13 and 17, and those aged between 18 and 24. Individuals aged between 13 and 17 will need to apply along with an adult.
Pros and cons
Now that we have reviewed the features and explored the best student checking accounts, we have created a table outlining all the advantages and disadvantages:
| Pros | Cons |
|---|---|
| Up to 4 fee-free withdrawals at any ATM | Fees if requirements are not met. |
| Easy to avoid fees | 0% APY |
| High fees for transfers |
Conclusion and opinions
After conducting our analysis, we conclude that the U.S. Bank checking account for students may not be a competitive choice due to several factors. To avoid monthly maintenance fees, specific conditions must be met, bank transfer fees are high, it lacks any interest on the account balance, and there is no welcome bonus. However, U.S. Bank does offer a significant number of branches and provides the benefit of fee-free withdrawals up to 4 times per month at any ATM.
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:
Frequent questions
If you still have any questions, here we provide answers to all your inquiries.
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Updated the day 1 September, 2023 by Alfredo Barandiarán
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