US Bank has a promotion for new checking accounts that offers a $400 bonus with very easy requirements. This deal is available in most states and only requires signing up for online banking and making two direct deposits totalling $4,000 within the first 60 days.

The Deal

Direct link to promotion

Terms and Conditions

  • Earn a $400 bonus by opening a new U.S. Bank consumer checking account, excluding Student Checking and Safe Debit Account, by September 2, 2022. The checking account can be opened in a branch, online or over the phone.
  • Additionally, you must enroll in online banking or the U.S. Bank Mobile App within 60 days of opening your account.
  • You must also complete two or more direct deposits within 60 days of opening your account totaling $4,000 or more.
  • The checking bonus will be deposited into your new checking account within 60 days of direct deposit verification and verification of enrollment in online banking or the U.S. Bank Mobile App as long as your account is open and has a positive balance.
  • Bonus will be reported as interest earned on IRS form 1099-INT and recipient is responsible for any applicable taxes. Offer may not be combined with any other checking account bonus offers.
  • Offer is not valid if you or any signer on the account has an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last two years, or

Quick Thoughts

This is an easy checking account bonus to get as the requirements are very simple: make at least two “direct deposits” totalling $4000+ within sixty days of account opening and sign-up for online banking. That’s it. US Bank is one of the easiest banks in terms of what’s considered a direct deposit and ACH transfers work from many common banks (you can see the full DOC list here).

If you don’t have a US Bank credit card, the Easy Checking account is the simplest to keep free, requiring a $1500 annual monthly balance or monthly direct deposits totaling $1000+. If you have a US Bank credit card, the monthly fee on Gold Checking is waived, making it the more attractive option.

The bonus is limited to those states that have a US Bank branch (which is a wide net…see locations here). That said, if you happen to live in one of the states that doesn’t have a branch, you can get around this requirement by opening a US Bank brokerage account first and then opening the checking account afterwards. There’s no need to have any activity on the brokerage account.

US Bank seems to be fairly strict on its churning rules so I wouldn’t mess with it if you’ve had an account or received a US Bank bonus within the past two years. If you haven’t, this is easy money.

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My wife Erin and my first big journey together went around the world in 100 days for
our honeymoon, a trip in which I had one car accident and got one speeding ticket in every country that we visited (I think that I may still have an arrest warrant in New Zealand for an unpaid ticket, but we’ll keep that between us). We currently
live in one of the few corners of Washington State where you can still MS Staples Gift Cards at Safeway; we own a winery, ski after work and hike as much as our elderly knees will let us.

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