U.S. Bank Review 2023
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At a glance
CDs
Checking
Savings
MMA
About Bankrate Score
Overview
U.S. Bank offers the convenience of a vast branch and ATM network — primarily in the Western and Midwestern parts of the U.S. Its digital banking services are well received. If you’re looking for higher rates on savings or lower hurdles to avoid a monthly fee on your checking, look elsewhere.
Highlights
- 24/7 Customer Service
- Digital Leader
- Highly Rated App
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bankrate Savings rating = 4.7/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Overall
U.S. Bank offers a full range of products and services that include checking and savings accounts, a money market account and CDs. The bank maintains branches in 26 states, and anyone in the U.S. can open accounts online. Higher rates of return can often be found at other financial institutions, however.
Pros
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The bank provides generous access to branches and to ATMs.
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The mobile app is highly rated by iPhone and Android users.
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It offers a wide variety of short-term CDs and some special CD terms that have higher yields than its standard offerings.
Cons
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The hurdles to avoid some monthly fees on certain products are high.
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You can earn better APYs elsewhere.
U.S. Bank bank products
U.S. Bank savings overview
A $25 deposit is required to open the account.
Pros
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The minimum opening deposit on the Standard Savings account is only $25.
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The Standard Savings account can be used as overdraft protection for a U.S. Bank checking account.
Cons
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The Standard Savings account earns very little interest.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank experience
U.S. Bank operates branches in 26 states and also allows customers to open accounts online from anywhere in the country. It supports its own ATMs and partners with the MoneyPass ATM network, so there’s access to tens of thousands of ATMs nationwide. The bank has also earned solid reviews for its mobile banking app.
About U.S. Bank
Based in Minneapolis, U.S. Bank is the fifth-largest commercial bank by assets in the country. It offers a full range of products, including deposit accounts and mortgages. Like most major banks, its history is filled with mergers and acquisitions, most notably the 1997 acquisition of U.S. Bancorp of Oregon by Minneapolis-based First Bank System.
U.S. Bank operates more than 2,000 branches in 26 states, and customers have access to tens of thousands of ATMs, including those in the MoneyPass network. Accounts can be opened in person or online, and the mobile app comes highly rated.
Review methodology
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.
