U.S. Bank Promotions for May 2024

If you’re looking to open a new bank account or to get a credit card, U.S. Bank promotions can help you get started on the right foot. While there are many banks to consider, U.S. Bank has some bank account bonus offers worth your attention.

To qualify for these offers, banks often ask you for substantial opening deposits or to maintain a minimum daily balance.

But if you’re smart about it and can meet the minimum balance requirements and make the required number of personal deposits, you can take advantage of these offers.

Current U.S. Bank Promotions

Here are the current U.S. Bank Promotions for May 2024:

1. U.S. Bank Smartly® Checking: up to $700 Bonus

You can earn up to $700 when you open a new U.S. Bank Smartly®  Checking account and a Standard Savings account and complete qualifying activities. Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC.

Earn up to $500 with a new U.S. Bank Smartly® Checking account.

Complete the following within 90 days of account opening:

  • Make two or more direct deposit(s) totaling $3,000 to $4,999.99 to earn $100, $5,000 to $9,999.99 to earn $300 or $10,000 or more to earn $500
  • Enroll in online banking or the U.S. Bank Mobile App

Earn up to $200 with a new Standard Savings account.

  • Make new money deposit(s) totaling $15,000 or more by July 17, 2024
  • Maintain that balance until October 31, 2024

Offer may not be available if you live outside the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.

U.S. Bank frequently has signup bonuses, and this one is on par with previous offers.

2. U.S. Bank Business Checking: up to $800 Bonus

U.S. Bank is currently offering up to a $800 bonus when you open and fund a new business checking account with promo code Q2AFL24 and complete qualifying activities.

To earn a $400 bonus: Deposit $5,000 in new money within 30 days of account opening and maintain for 60 days after account opening.
To earn a $800 bonus: Deposit $25,000 in new money within 30 days of account opening and maintain for 60 days after account opening.

Subject to certain terms and limitations. Offer valid through August 30, 2024. Member FDIC.

3. U.S. Bank Platinum Business Money Market Account

  • Bonus: up to 4.50% APY
  • Expires: June 05, 2024
  • Learn More: Visit U.S. Bank

Limited Time Offer

Receive up to 4.60% APY from the account opening date when you open a new Platinum Business Money Market Account and complete qualifying activities.

Complete these steps to earn the offer:

  1. Open a new Platinum Business Money Market Account
  2. Deposit $25,000 – $2,999,999.99 in new money to earn a 4.50% APY bonus
  3. Subject to certain terms and limitations

4. Cash+® Visa Signature® Card

This promotion offers new cardholders a bonus of $200. You earn the bonus after spending $1,000 on eligible purchases within the first 120 days of opening the account.

The Cash+ Visa Signature Card Features:

  • 0% intro APR for the first 15 months on purchases and balance transfers
  • Customizable cashback
  • No annual fee

5. Altitude® Go Visa Signature® Card

This promotion offers new card members 20,000 bonus points after spending $1,000 in the first 90 days.

You can redeem the bonus points for gift cards, merchandise, cash back, or travel. In addition, cardholders earn 4x points on dining and takeout, 2x on grocery, streaming, gas stations, and EV charging, and 1x on everything else.

U.S. Bank Pros and Cons

Here’s a quick look at the pros and cons of banking at U.S. Bank.


  • Large ATM Network: U.S. Bank has a large 4,000+ fee-free ATM network. You can use their mobile app or online branch locator to find an ATM.
  • Multiple Ways to Waive Monthly Maintenance Fees: Most U.S. Bank accounts have a monthly maintenance fee, but they offer multiple ways to waive them, including receiving regular monthly direct deposits, maintaining a minimum balance, or holding an active U.S. Bank credit card.
  • Many Banking Products: U.S. Bank can be your one-stop shop for all your banking needs, including deposit accounts, CDs, investment accounts, credit cards, and home loans. You may also be eligible for relationship pricing, getting lower rates on mortgages or other loans if you have a U.S. Bank deposit account.


  • Low APYs on CDs: Except for U.S. Bank’s ‘special CDs, ’ the CD APYs are low. You can usually find better rates with online banks, making your money grow faster.
  • Can be Challenging to Waive Monthly Fees: Some U.S. Bank accounts have challenging requirements to waive the monthly maintenance fees. For example, to waive the $6.95 monthly fee on the Smartly® account, you must have an average balance of $1,500, own a U.S. Bank active credit card, or monthly direct deposits of at least $1,000.

Considerations When Getting a U.S. Bank Promotion

Before taking advantage of the U.S. Bank promotions, consider the following:

  • You must be a new customer: You cannot currently have a U.S. Bank checking account or have had one in the last two years. Plus, any money you deposit in the account must be ‘new money,’ which means not money transferred from another U.S. Bank account.
  • You must live in a U.S. Bank service area: You must live within the U.S. Bank footprint to be eligible for the promotions.
  • You must include the promotional code: If the promotion has a code, you must enter it manually if you navigate away from the promotional page in order to receive it.
  • Your bonus may be taxable: U.S. Bank reports promotional bonuses to the IRS using form 1099-INT. This may increase your tax liability, and you must report it, too.


How much is a U.S. Bank bonus?

U.S. Bank, like most banks, offers various promotions that change frequently.

Does U.S. Bank offer bank promotions for current customers?

Unfortunately, most U.S. Bank promotions are for new customers. Banks, like U.S. Bank, use the promotions to get new customers, which is why they require ‘new money.’ They want to increase their asset size and customer base.

How should I use a U.S. Bank bonus?

You are free to use a U.S. Bank bonus however you want. Since it’s money you didn’t have before, it’s a good idea to put it to good use, such as paying down debt or investing in your retirement. Think of ways you can grow the money, as those are the best uses for bank bonuses.

Where can I find U.S. Bank promotions?

When U.S. Bank has promotions, they advertise them on the page for each account. Check back often to see what promotions they’re offering, and we’ll update our pages when we learn of new U.S. Bank promotions.

Do you owe taxes on U.S. Bank promotions?

Yes, like interest earned, U.S. Bank charges taxes on any promotions they pay. They report them on 1099-INT, so be sure your tax returns reflect any bonuses earned because the IRS will be notified, too.

Is A U.S. Bank Promotion Best For You?

Bank promotions and bonuses can provide extra cash, which is great! Before accepting an offer, understand the account requirements to ensure you can meet them. Also, do your research to ensure the account offers the features you need and will use while paying close attention to the monthly maintenance fees and how you can waive them.

Also, pay close attention to any introductory offers that change once they expire, especially credit card APRs.

Compare the U.S. Bank promotions to other large bank promotions, such as Chase, to ensure you get the best deal for your financial needs.

Other Bank Promotions Offered

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