U.S. Bank Review
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U.S. Bank Reviews

Angela Mae Watson


Angela Mae Watson

Large variety of loan products
Large variety of loan products
About U.S. Bank

Founded in 1863, U.S. Bank is one of the oldest and largest lending institutions in the United States. It’s now headquartered in Minneapolis, Minnesota and is the U.S. Bank National Association’s parent company.

Today, U.S. Bank serves as a direct lender and banking institution for businesses and individuals. It offers online and traditional banking, personal loans, lines of credit, home loans, auto loans, and various wealth management services throughout the country.









U.S. Bank Personal Loans Review

U.S. Bank offers personal loans for nearly any reason, ranging from debt consolidation to vacation to relocation costs. The application process is fairly straightforward, as are the eligibility requirements.

U.S. Bank Personal Loans Highlights


$1,000 - $50,000


12-84 months




8.74% - 21.24%


4 days











Pros & Cons

  • Transparent loan terms, rates, and eligibility requirements
  • Funds can be used for nearly any purpose
  • May qualify for up to $25,000 or $50,000, depending on credit score
  • Interest rate discount for automatic payments
  • No hidden fees
  • U.S. Bank does not pay creditors directly with debt consolidation loans
  • Non-members may not qualify for the highest loan amounts
  • Loans not available in all states

Personal Loans Types

  • Unsecured Personal Loans
  • Fixed-Rate Personal Loans
  • Co-singer / Joint loans

Loan Purpose

  • Debt Consolidation
  • Home Improvement
  • Major Purchase
  • Medical Expenses
  • Household Expenses
  • Vacation
  • Other

U.S. Bank Personal Loans Terms & Requirements

U.S. Bank’s personal loans come with standard repayment terms ranging from one year to 7 years. They also have fairly competitive rates for borrowers with good credit or better. The loan amounts are also high enough to cover most emergency expenses, as well as things like debt consolidation, home improvement, and relocation costs.

The biggest downside is that non-members may not qualify for the largest loan amounts. Non-members might also need to meet higher credit score requirements to qualify for a loan.

How to Apply

From the main website, click “Personal.” Then, select “Personal loans & lines” and choose one of the following:

  • Loans & credit lines
  • Debt consolidation
  • Home repair financing
  • LGBTQ+ family planning

Your options depend on which menu item you’ve chosen. They include:

  • Personal loan
  • Personal line of credit
  • Home equity loan
  • Home improvement personal loan
  • Simple loan ($100 to $1,000)

Choose the one that best fits your circumstances and click “Apply Now” to start the application process. Alternatively, select “Learn More” to get additional information. You can also click “Check your rate” to get an idea of what you might qualify for.

Next, create or log into an account. If you continue as guest, you’ll need to fill out general information about yourself. This includes your employment status, take-home pay, and residency information. You’ll also need to answer whether you want to apply with a cosigner or not.

Step 1

The entire application process takes about 5 to 10 minutes, though it might be a little longer when applying for a joint personal loan. It generally takes a few business days to receive a decision. Funds will be available within one to four business days after closing.

Qualification Requirements

  • 660+ credit score
  • U.S. citizen
  • 18+ years old
  • Members and non-members may qualify
  • 36% maximum debt-to-income ratio (DTI)
  • Job status: Employed (full-time and part-time), self-employed, unemployed, student, retired, homemaker, military, U.S. Bank employee
  • Co-signer not required

Required Information

To get a personal loan from U.S. Bank, you’ll typically need to provide certain personal and financial information. You can apply online. You’ll need:

  • Your name
  • Mailing address
  • Date of birth
  • Proof of identity (ex. driver’s license, SSN, state ID)
  • Phone number
  • Credit score
  • Proof of income
  • Desired loan amount and term

Application Steps & Time Frames

  • The application process takes around 5 to 10 minutes and can be done entirely online.
  • It takes one to four business days to receive funds from the day the loan closes. This is standard in the industry.
  • The entire process is streamlined and easy to follow, making it easy to get a personal loan.

State Availability

Available - Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Carolina, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, Wyoming.

Not Available - Alabama, Alaska, Connecticut, Delaware, Florida, Georgia, Hawaii, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oklahoma, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia.

U.S. Bank Online Banking Review

US Bank offers three business checking accounts: Silver Business Checking Package, Gold Business Checking Package, and Platinum Business Checking Package. These accounts are convenient for small business owners and entrepreneurs who want access to either a free or interest-bearing bank account. However, they do not have some of the more advanced features of other banks and credit unions. US Bank also charges certain fees, so watch out for those if you choose to open an account with them.

U.S. Bank Online Banking Highlights


Us bank & moneypass







Account Type

  • Checking
  • Savings
  • Certificates of Deposit (CD)
  • Money Market Deposit Account (MMDA)
  • Business

U.S. Bank Checking business Highlights


min $100


Max 1.15%

Pros & Cons

  • Several business checking accounts to choose from, as well as a basic business savings account
  • Large network of free ATMs nationwide and brick-and-mortar branches in 26 states
  • Convenient online and mobile banking options
  • Waivable monthly fees
  • Currently offering a $500 sign-up bonus (after meeting certain conditions)
  • Not as transparent about different account fees, terms, and conditions
  • Low annual percentage yields (APYs)
  • Limited account features compared to other major banks and credit unions


Account  1 Year 3 Years 5 Years
Basic Business Savings Account 0.01% APY
Platinum Business Money Market Account 0.01% APY to 1.15% APY (depending on account balance)

Up to 2.60% Bonus APY

Preferred Business Money Market Account 0.01% APY to 1.15% APY (depending on account balance)
Premium Business Money Market Account 0.01% APY

Features Benefits & Rewards

  • Security and fraud prevention
  • Overdraft protection
  • Rewards Credit Cards’ special offers
  • Online, in-person, and mobile banking
  • Large ATM network
  • Limited-time sign-up bonus offer of $500

Account Types

Silver Business Checking Package

The Silver Business Checking Account has no monthly fee and a nominal opening deposit requirement of $100. Account owners benefit from 125 free transactions per statement cycle, making it ideal for entrepreneurs or new business owners.

This account also includes several products and services designed to help save money and time. It comes with:

  • Mobile and online banking options
  • Check fraud prevention
  • Card payment processing
  • Email and text alerts
  • Visa Debit Card

To be eligible, you must live in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, or WY.

Account type Key Features Bonuses
Silver Business Checking Package
  • No minimum balance, no monthly fees
  • Advanced security features such as fraud protection and text alerts
  • 50% discount on first check order (up to $50)
  • Up to $5,000 unsecured line of credit for overdraft protection (Business Reserve Line)

Gold Business Checking Package

The Gold Business Checking Package is best for individuals who regularly maintain a $10,000+ account balance and are looking for cash bonuses and fewer transaction fees. It does come with a monthly fee, but this is waivable.

Account monthly fee is waivable if you have any of the following:

  • $10,000 average collected checking account balance, or $25,000 average collected balance on interest-bearing account
  • $20,000 in total combined average collected deposit balances, or $50,000 in total combined average collected deposit balances in interest-bearing account
  • $50,000 in total combined average across business deposits or outstanding credit balances
  • $75,000 in total combined business deposits and outstanding business credit balances
  • U.S. Bank Payment Solutions Merchant Account

Like the Silver Account, this option comes with online and mobile card payment processing, fraud protection, mobile check deposit, and a Visa Debit Card. Applicants must live in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, or WY.

Account Type Key Features Bonuses
Gold Business Checking Package
  • 300 free transactions and 100 free cash deposits per statement cycle
  • 50% discounts on first check order (up to $100)
  • Special cash back bonus if you spend $2,500 in the first four billing cycles using Business Edge Cash Rewards
  • Waived annual fee for the first year (Business Reserve Line)

Platinum Business Checking Package

US Bank’s Platinum Business Checking Account is designed for business owners who expect to keep a high account balance and make a lot of transactions. It comes with the same features and perks as the previous accounts plus additional transactions and deposits per cycle. It also includes front-to-back images on your monthly account statements. You must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, or WY to qualify.

Account monthly fee is waivable if you have either of the following:

  • $25,000 average collected checking account balance
  • $75,000 total combined average in business deposits and outstanding business credit balances

Currently, US Bank also has a promotional offer. If you open a Silver, Gold, or Platinum Business Checking Account using promo code Q1AFL23 by March 31, 2023, you could earn $500. To qualify, you must:

  • Reside in a state where you can open a US Bank account
  • Enroll in online banking within 60 days of opening the account
  • Deposit at least $3,000 (and maintain that balance) for at least 60 days of opening the account
Account Type Key Features Bonuses
Platinum Business Checking Package
  • 500 free transactions and 200 free cash deposits per statement cycle
  • Earn $75 in cash back when you spend $2,500 on your Business Edge Cash Rewards Card (within the first four billing cycles)
  • Automatically syncs with the Business Money Market Account for a bonus interest rate

Business Checking Account Promo:

Earn up to a $750 bonus when you open a new, eligible U.S. Bank business checking account online with promo code Q2AFL23 and complete qualifying activities1.

Make a deposit of at least $15,000 in new money within 30 days of account opening and maintain the balance until the 60th day after account opening. Enroll in U.S. Bank business online banking or the U.S. Bank Mobile App within 60 days of account opening.
Applicant must reside in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, WY to be eligible for checking account. Subject to certain terms and limitations. Offer valid through June 30, 2023. Member FDIC.

Basic Business Savings Account

Like the previous three accounts, the Basic Business Savings Account has a $100 minimum account opening deposit. It also has a $500 minimum balance. If you meet these requirements, you won’t have to pay a monthly maintenance fee. This account also comes with 0.01% APY, making it a good option if you’re new to business banking and want something simple.

You can also set up the Business Savings Sweep. This links your checking and savings accounts and automatically “sweeps” excess funds from your savings to your checking when the balance falls below the minimum balance. This account does have a minimum balance requirement of $10,000, so keep that in mind.

Account Type Key Features Bonuses
Basic Business Savings Account
  • Business Savings Sweep option to prevent monthly maintenance fees on business checking accounts (maximum of 5 sweeps per month)
  • 0.01% APY
  • Overdraft and fraud protection
  • Mobile and online banking

Business CD Account

At US Bank, it’s possible to open up a Certificate of Deposit (CD). This is an investment account with minimal risk. Terms range from 14 days to 5 years and come with competitive interest rates. You must deposit between $500 and $250,000 to open an account.

Account Type Key Features Bonuses
Business CD Account
  • 0.05% to 0.25% APY
  • FDIC-insured

Business Money Market Accounts

Finally, US Bank offers a Platinum Business Money Market, Preferred Business Money Market, and a Premium Business Money Market Account. These come with online and mobile banking, overdraft protection, check-writing privileges, and online statements.

Account Type Key Features Bonuses
Business Money Market Accounts
  • Up to six withdrawals per month (Platinum only)
  • Up to 4.00% bonus rate (terms apply)

Opening an Account With U.S. Bank

If you’re interested in opening an online business bank account with US Bank, you can do so online, via phone, or at a branch. Start by choosing your preferred account type. For checking, this would be either a Silver, Gold, or Platinum Business Checking Account. You can also opt for an analyzed account, which is designed for nonprofit organizations and businesses with high transactions and balances.

To apply, you’ll need to live in AZ, AR, CA, CO, ID, IL, IN, IA, KS, KY, MN, MO, MT, NE, NV, NM, NC, ND, OH, OR, SD, TN, UT, WA, WI, or WY. Be prepared with the following information:

  • Social Security Number (for sole proprietors)
  • Government-issued ID (ex. driver’s license or state ID)
  • Employer identification number (EIN) or tax identification number (for your business)
  • Documentation verifying your business (ex. business charter, articles of incorporation, articles of organization, or other legal documents)
Step 1

Choose an account

As part of the application, you’ll need to provide additional information about yourself, such as your contact details. You’ll also need to provide business-related information, including your business industry and revenues. Finally, be prepared to specify the purpose or purposes of opening an account. If you have any questions during the application process or aren’t sure which account to choose, you can make an appointment with a specialist.

State Availability

Available - Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin, Wyoming.

Not Available - Alabama, Alaska, Connecticut, Delaware, Florida, Georgia, Hawaii, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, New Hampshire, New Jersey, New York, Oklahoma, Pennsylvania, Rhode Island, South Carolina, Texas, Vermont, Virginia, West Virginia.

Privacy & Security

U.S. Bank is transparent about its privacy and security. Online, the bank goes into detail about the types of information it collects: “anonymous” and “personal” information.

Anonymous data includes things like demographic information, the browser used, and other common tracking information found online. Personal data generally includes customers’ names, SSNs, addresses, and account information.

Like other traditional banks, U.S. Bank collects this information when someone inputs it into their system directly (such as when submitting an application). The bank uses customer data to determine their eligibility for different services and loan products, as well as to communicate with them. U.S. Bank may also share certain information with its partners or for legal purposes.

Also, U.S. Bank uses physical, organizational, and technical methods to keep customers’ information secure. Since the bank operates online, it does not guarantee the information is 100% secure. However, it does offer certain additional security measures, such as protection from fraudulent or unauthorized activity.

U.S. Bank is not a marketplace. It is a member of the Federal Deposit Insurance Corporation (FDIC), which insures up to $250,000 in bank accounts against theft or loss. As a national bank, it’s also regulated by the Office of the Comptroller of the Currency (OCC).

Customer Support

For the most part, U.S. Bank’s customer support team is professional, reliable, and knowledgeable. Wait times on the phone can vary from a few minutes to upwards of half an hour. However, there is someone available 24/7 to help answer questions or resolve problems. There’s also an international number for people overseas to call when they need assistance.

U.S. Bank also has a live chat feature for current customers. For certain issues, you will still need to call them, though.

Phone Support
(800) 872-2657
9am-5pm EST
9am-6pm EST
10am-2pm EST

In Conclusion

U.S. Bank offers various financial services, including traditional, online, and mobile banking. It also has a highly reviewed mobile app that makes accessing, monitoring, and using your different accounts easier. Besides that, U.S. Bank offers different loans, wealth management services, credit cards, and more.

The bank has a long history and solid reputation. However, they do have some customer service issues, especially for overseas customers.


What types of services or loans does U.S. Bank offer?
U.S. Bank offers traditional banking services like checking and savings accounts for personal use and businesses. It also has personal loans, auto loans, home loans, lines of credit, and more.
What are U.S. Bank’s customer service options?
There are several ways to contact U.S. Bank. You can call them at any time 1-800-872-2657 for general concerns or questions. You can also use an online feature if you’re logged into an account. Or you can send an email to their customer service team. Alternatively, you can visit one of their 77,018 physical locations.
Do all U.S. Banks have the same hours of operation?
No. Each location has its own hours of operation, but most are within standard business hours for that area. There is a 24/7 general customer support number, as well as an international number for people, though.

U.S. Bank Disclaimer

Disclosures Investment and insurance products and services including annuities are: Not a deposit ● Not FDIC insured ● May lose value ● Not bank guaranteed ● Not insured by any federal government agency.

U.S. Bank, U.S. Bancorp Investments and their representatives do not provide tax or legal advice. Each individual’s tax and financial situation is unique. You should consult your tax and/or legal advisor for advice and information concerning your particular situation.

For U.S. Bancorp Investments: Investment and insurance products and services including annuities are available through U.S. Bancorp Investments, the marketing name for U.S. Bancorp Investments, Inc., member  and , an investment adviser and a brokerage subsidiary of U.S. Bancorp and affiliate of U.S. Bank.

For U.S. Bank: U.S. Bank is not responsible for and does not guarantee the products, services or performance of U.S. Bancorp Investments, Inc. Mortgage, home equity and credit products are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC.

The creditor and issuer of U.S. Bank credit cards is U.S. Bank National Association, pursuant to separate licenses from Visa U.S.A. Inc., MasterCard International Inc. and American Express. American Express is a federally registered service mark of American Express.


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Angela Mae Watson

Angela Mae is a personal finance writer specializing in loans, debt management, investing, retirement planning, and financial literacy. She comes from a journalistic background and pulls from hands-on experience and deep-dive research to breathe life into her stories. Her goal is to help others achieve financial stability and independence. When not writing, she can be found traveling, honing her yoga skills, hiking, or exploring new means of healthy, sustainable living.