U.S. Bank $530 Checking Bonus

Update 1/10/25: Swagbucks is back for $80 at this link. Total is $450 + $80 = $530.

Update 1/7/25: Offer is back through 4/17/25 at this new link. You can also get $25-$30 back from Swabbucks/MyPoints, if targeted.

Note: You can also get another $25+ via portal. Portals don’t always show this amount so if not a big offer I’d recommend waiting.

Offer at a glance

Maximum bonus amount: $450 + $100
Availability: Nationwide (excludes NY & FL and any other state without a branch unless you have an existing relationship)
Direct deposit required: Yes
Additional requirements: None
Hard/soft pull: Soft
ChexSystems: Mixed data points
Credit card funding: Can fund up to $250 with a credit card
Monthly fees: $6.95, avoidable
Early account termination fee: None
Household limit: None
Expiration date: ~~September 26, 2024~~ ~~December 30, 2024~~ April 17, 2025

The Offer

Direct link to offer

U.S. Bank is offering a $450 bonus when you open a new Smartly checking account. Requirements are as follows:
- Checking bonus:
  - Earn $250 when the combined total of your direct deposits is between $2,000 and $4,999.99
  - Earn $350 when the combined total of your direct deposits is between $5,000 and $7,999.99.
  - Earn $450 when the combined total of your direct deposits is $8,000 or more.

The Fine Print

U.S. Bank Smartly® Checking bonus: To be eligible, you or any owner(s) on your new Bank Smartly Checking account cannot have an existing U.S. Bank consumer checking account, had a U.S. Bank consumer checking account in the last 12 months or received other U.S. Bank consumer checking bonus offers within the past 12 months.
You must also use the promo code 2024JUL at account opening. To receive the bonus, you must open a new U.S. Bank Smartly® Checking account with a minimum deposit of $25 either online, in a branch or over the phone from July 9, 2024 through and including September 26, 2024.
Additionally, you must enroll in the U.S. Bank Mobile App or online banking within 90 days of opening your account.
You must also complete two or more direct deposits within 90 days of opening your account that total: $2,000 to $4,999.99 to earn the $250 bonus, $5,000 to $7,999.99 to earn the $350 bonus, or $8,000 or more to earn the $450 bonus.
A direct deposit is an electronic deposit of your paycheck made through the Automated Clearing House (ACH) network or an electronic deposit of your government benefits, such as Social Security, from your employer or the government.
Other electronic deposits or person-to-person payments are not considered a direct deposit. Your checking bonus (“adjusted interest”) will be credited to your new checking account within 60 days following the end of the calendar month during which you completed all the offer requirements.
Account must be open and have a positive balance to receive the bonus. 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.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them

Avoiding Fees

Monthly Fees

U.S. Bank Smartly has a $6.95 monthly fee, this is waived if you do any of the following:

Have combined monthly direct deposits totaling $1,000 or more
Keep a minimum average account balance of $1,500 or more
Hold an eligible U.S. Bank credit card
Qualify for one of the four Smart Rewards tiers (Primary, Plus, Premium or Pinnacle)
Be a military member (requires self disclosure)
Be under the age of 24 or over the age of 65

Early Account Termination Fee

There is no early account termination fee to worry about

Our Verdict

Not as good as the recent $500 bonus unfortunately. That being said this bonus is churnable (can’t have had an account within the past 12 months) meaning it’s probably worth resetting that clock as soon as possible rather than waiting for a marginally bigger bonus to potentially return. Because of that we will add this to our list of the best bank account bonuses.

Useful posts regarding bank bonuses:

A Beginners Guide To Bank Account Bonuses
Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
PSA: Don’t Call The Bank
Introduction To ChexSystems
Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
What Banks & Credit Unions Do/Don’t Pull ChexSystems?
How To Use Our Direct Deposit Page For Bank Bonuses Page
Common Bank Bonus Misconceptions + Why You Should Give Them A Go
How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
Affiliate Links & Bank Bonuses – We Won’t Be Using Them
Complete List Of Ways To Close Bank Accounts At Each Bank
Banks That Allow/Don’t Allow Out Of State Checking Applications
Bank Bonus Posting Times

Offer History:

Update 11/5/24: Extended to 12/30
Update 10/13/24: Stacking with a portal is more difficult now, can try to follow these directions. (see also this comment)
Update 9/23/24: Extended to 10/31
Update 9/1/24: Back to $101 on MyPoints.
Update 7/17/24: Anti churning language is now 12 months instead of 24. Hopefully this is a permanent change going forward.