How to Avoid U.S. Bank Checking Account Fees

Jun 07, 2017 | 3 Comments

As one of the country's biggest banks, U.S. Bank is could be one place that you go looking for a checking account. It offer various options to help you manage your money. However, all of the bank's checking accounts come with a monthly fee. It's a cost that you'd prefer not to pay.

The U.S. Bank checking accounts come with the ability to waive their monthly fees. The fee waiver criteria may include direct deposits of a certain amount, maintaining a minimum balance, having a linked U.S. Bank deposit account or credit line, and more.

Some U.S. Bank customers are already avoiding their monthly fees with no trouble. Others may not be in the same situation.

Keeping a large balance in a checking account is not feasible for many customers, so the next best option to escape fees is direct deposit.

Avoid Monthly Fees With ACH Transfers

The option to waive monthly fees with combined direct deposits (of at least $1,000) is available on two U.S. Bank checking accounts, which are:

  • Easy Checking
  • Silver Package Checking

These two accounts will likely cover a large portion of U.S. Bank checking account customers. If you’re a U.S. Bank customer who will have one of these checking accounts stated above, there is a way to avoid the monthly fee even if you don’t have direct deposits or don’t have a combined $1,o00 in direct deposits.

Because of the way that bank computer systems recognize direct deposits, certain types of money transfers may be labeled as direct deposits even if they didn’t originate as payments from an employer, Social Security, or other retirement benefits.

U.S. Bank customers have reported that an ACH transfer from an online savings account has set off an account alert that a direct deposit was received.

You can set up an account alert to notify you when a direct deposit has been credited. Then, initiate a transfer from another bank account into your U.S. Bank checking account. If an alert is triggered, you can set up automatic monthly transfers.

Note: U.S. Bank may change the computer configurations that will nullify this method without notice. In the meantime, many customers will find it useful.

Take a Chance With Online Banks

As branches become less and less crucial to everyday banking, online banks become more attractive because their accounts tend to offer higher interest rates without the monthly fees.

Online checking accounts may also come with useful features such as ATM fee refunds, mobile check deposit, and more.

You may already be banking without physical branches. If that's the case, an online checking account could be better for your finances.

See if these online checking accounts are a better fit:

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wilmacaroni
Tuesday, 25 Feb 2014 4:58 PM
<p>Pretty smart. I just thought to do this since I had 2 accounts. One was so large i never really noticed it was being charged a fee until it got low. Then I called and they told me about this deposit stuff. So now I make sure every two weeks $250 is added in that account. Then transfer it out. I had to google it to see if it would work. Good stuff.</p>
Monday, 11 Apr 2011 11:06 PM
<p>Federal regulation can and is helping. The credit card laws have made things better in my opinion. Credit cards and the companies that issue them are still evil. But they only chop off a finger now and then, not straight for the head like they use to be able to do.</p><p>Banks make so much off of other stupid fees. I just had to get old bank statements and checks to straighten out taxes with my HOA. 5.50 per statement, 5.50 per check and 25.50 per hour research, total was over 300 dollars for 18 months of papers. I can go on and on about high fees banks charge. And the sad part is so many people pay it without question. Banks make billions every quarter on over draft fees alone.</p><p>Every business has become greedy and money hungry. Bigger bonuses and better stock prices.</p><p>Banks, insurance companies, and healthcare should not be profit based. They should look to earn enough to sustain business and room for growth. The kind of profits these businesses make they could afford gold plated offices. This country is getting out of hand.</p>
rvauthor
Monday, 28 Mar 2011 12:43 AM
<p>The use of ATM and debit cards was encouraged by banks because it allowed them to significantly reduce the number of tellers they had in branch locations, and significantly reduce their account service processing expenses by eliminating costs associated with paper documents.</p><p>The banks significantly eliminated the use and processing paper checks; they significantly eliminated printing and mailing statements, and they eliminated the float between when checks were cashed or businesses received payment.</p><p>The banks also created a situation where they could also charge merchants 1% -3 % of any purchase paid for with a debit card.</p><p>The result is every improvement extended by banks in the form of ATM or debit card services reduced bank costs and improved the profitability of checking account. Banks rarely do anything that does not improve their profits.</p><p>However, you can safely assume that the banks always do very little that increases their costs. While the banks tell us what they (purportedly) spend; they never tell what the save by changing their business practices. In short, any cost reduction goes to their bonuses; any cost increase goes directly to the customers.</p><p>I have had free checking for more than forty years, long before the advent of debit or ATM cards. I fully expect to have free checking account services regardless of what the nation-wide banks do.</p><p>Anyone looking for free checking need look no further than the nearest credit union, a local/regional bank, or a bank such as USAA Federal Savings Bank, which is dedicated to serving their customers; not their executives.<br></p>