Skip to Main Content

U.S. Bank Review 2022

Updated December 2, 2022
Bankrate logo

The Bankrate promise

At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

At a glance

3.4
Rating: 3.4 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 3.3 stars out of 5

Checking

Rating: 4.1 stars out of 5

Savings

Rating: 2.4 stars out of 5

MMA

Rating: 2.1 stars out of 5

About Bankrate Score

Hover for more

Overview

U.S. Bank offers the convenience of a vast branch and ATM network — primarily in the West and Midwestern U.S. Its digital banking products 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
Compare offers
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 3.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
4.00
%
APY
Rating: 3.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Bank logo
Member FDIC
Savings Account
4.40
%
APY
Rating: 3.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right

Overall

U.S. Bank is a large commercial bank that offers consumers who value the big bank experience a full range of products and services.

Pros

  • Checkmark

    The bank provides generous access to branches and to ATMs.

  • Checkmark

    The institution is on the cutting-edge of bank technology.

  • Checkmark

    It offers a wide variety of short-term CDs and some special CD terms that have higher yields than its standard offerings.

Cons

  • The hurdles to avoid some monthly fees on certain products are higher.

  • You can earn better savings APYs elsewhere.

U.S. Bank bank products

2.4
Rating: 2.4 stars out of 5
Bankrate Score

U.S. Bank savings overview

The Standard Savings account earns much less than the national average savings APY on all balances. The account requires either a $300 minimum daily balance or a $1,000 average monthly collected balance to waive the $4 monthly maintenance fee. You can access your money through ATMs with this account.

A $25 deposit is required to open the account.

Pros

  • Checkmark

    The minimum opening deposit on the Standard Savings account is only $25.

  • Checkmark

    The maintenance fee on the Standard Savings account is $4, which is lower than some maintenance fees.

  • Checkmark

    The Standard Savings account can be used as overdraft protection for a U.S. Bank checking account.

Cons

  • The Standard Savings account earns very little interest.

Compare Offer
Bank logo
Member FDIC
Savings Account
3.00
%
APY
Rating: 3.4 stars out of 5
InfoHover for more
$0
Min balance for APY

Bank experience

While U.S. Bank lets you use your voice to do your banking business, it still provides traditional ways to manage your money. It supports its own ATMs and partners with the MoneyPass ATM network, so there’s access to tens of thousands of ATMs across the country. The bank has also earned solid reviews for its mobile banking app. In the app, you can tell the bank that you’re traveling and submit dates for the trip.

About U.S. Bank

Based in Minneapolis, U.S. Bank is the fifth-largest commercial bank by assets in the U.S. It offers a full range of products, including checking, savings, certificates of deposit 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 offers the convenience of a vast branch and ATM network — primarily in the western part of the U.S. Its digital banking products 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.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

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.