U.S. Bank checking account for student

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:

FeatureDetails
Fees$5 unless you meet requirements
Interest Rate0% APY
Wire TransfersDomestic – 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
ATMsYou 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 ServiceNo
U.S. Bank checking account for student features

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:

Logo Chase
  • 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.
Capital ONE MONEY Teen checking
  • 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.
Truist Bank logo
  • $0 fees up to 23 years old.
  • $0 welcome bonus
  • Two withdrawals free
  • $0 minimum deposit
  • Very low interest rates
BMO logo
  • $0 Annual fees
  • $0 welcome bonus
  • ATMs free: BMO and Allpoints
  • $0 minimum deposit
  • Very low interest rates
Logo U.S. Bank
  • Easy to avoid monthly commissions
  • $0 welcome bonus
  • ATMs free: U.S. Bank
  • $0 minimum deposit
  • Very low interest rates
TD Bank logo
  • Easy to avoid monthly commissions
  • $0 welcome bonus
  • ATMs free: TD Bank
  • $0 minimum deposit
  • Very low interest rates
Capital ONE MONEY Teen checking
  • No monthly fees
  • $0 welcome bonus
  • More than 70,000 ATMs in the United States
  • $0 minimum deposit
  • High interest rates.
Logo PNC Bank
  • 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
Bank of America logo
  • 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
Wells Fargo logo
  • 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:

ProsCons
Up to 4 fee-free withdrawals at any ATMFees if requirements are not met.
Easy to avoid fees0% APY
High fees for transfers
U.S. Bank checking account for student pros and cons

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:

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:

Frequent questions

If you still have any questions, here we provide answers to all your inquiries.

To conclude, here you have more related content about student checking accounts:

Updated the day 1 September, 2023 by Alfredo Barandiarán

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