U.S. Bank Overdraft and Checking Fee Policies

Aug 08, 2017 | 25 Comments

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When you have a bank account with one of the biggest banks in the countries, you're likely to face the possibility of fees. Checking accounts from U.S. Bank are no different. Each of them has a monthly fee, including the dreaded overdraft fee.

For some U.S. Bank customers with checking accounts, dodging the monthly maintenance fee may be a little bit of a hassle when they cannot meet fee-waiver requirements easily. It could mean hundreds of dollars per year in bank fees. The price tag rises even more with its premium checking accounts.

Learn which major fees are associated with U.S. Bank checking accounts and how you can avoid them:

Monthly Service Fees

U.S. Bank offers three main checking accounts: Silver Checking, Gold Checking, and Platinum Checking.

Silver Checking is the basic checking account that provides serves most of the banking needs of a typical consumer. It has a $8.95 monthly fee that can be waived when you have a Package Money Market account and any of the following:

  • Combined monthly direct deposits of at least $1,000
  • A combined average deposit balance of $1,500

Gold Checking is a mid-tier checking account that also comes with perks such as two waived non-U.S. Bank ATM transactions per month and discounted overdraft protection transfers. The account has a $12.95 monthly fee, which can only be waived with:

  • An open U.S. Bank personal loan or credit card

Platinum Checking is the top-tier premium checking account that waives fees for non-U.S. Bank ATM, overdraft protection transfers, money orders, personal checks, cashier's checks, money orders, and more. It has a pricey $19.95 monthly fee that is waived with one of the following:

  • $25,000 in combined personal deposits, investments, and/or credit balances
  • A relationship with U.S. Bank Trust Services

Note: All monthly fees are reduced by $2 when you opt for electronic statements.

U.S. Bank Checking Account Fees (Silver, Gold, and Platinum)

Type Silver Gold Platinum
Monthly Maintenance Fee $8.95 ($6.95 with eStatements) $12.95 ($10.95 with eStatements) $19.95 ($17.95 with eStatement)
Out-of-Network ATM Fee $2.50 $2.50 (waived twice per statement cycle) $0
Overdraft Fee $36 $36 $36
Returned Item $36 $36 $36
Stop Payment $35 $35 $35
Deposited Item Returned or Cashed Check Returned $19 $19 $19
Incoming Domestic Wire Transfer $20 $20 $20
Incoming International Wire Transfer $25 $25 $25
Money Order $5 $5 $0
Cashiers Check $7 $7 $0

Tip for Silver Checking customers

Most of the checking accounts from U.S. Bank have straightforward fee-waiver requirements. There isn't much room for creativity there -- you either have the deposit balance or a deeper account relatinoship with U.S. Bank.

With direct deposits, however, you may be able to fulfill the requirements for Silver Checking without a traditional direct deposit. Some customers have reported that incoming transfers from online banks and PayPal have triggered direct deposit alerts. This means that it counts toward the fee waiver criteria. You may consider testing this for yourself to see if you can use other bank accounts to help you avoid the monthly fee.

Note: There is no guarantee that this works (or continue to work in the future) with your specific account(s).

Overdraft Fees Are Standard

Overdrafts happen when a transaction causes your checking account balance to fall below $0 and the bank puts up the money to complete the transaction -- even when you technically don't have enough money in your account.

Legally, a bank can only overdraw your account when you provide consent. You may have signed an agreement that allows or forbids the bank to do so. This consent only applies to debit card transactions and ATM withdrawals. Checks and recurring charges may still lead to overdrafts and overdraft fees.

Overdraft fees will only be charged on items that are more than $5. Also, if you make it so that your account is not overdrawn by more than $5 by the end of the day, overdraft fees are not charged for that day. On any single day, no more than four overdraft fees may be charged to your account.

Ways to minimize chances of overdraft

Because an overdraft can be so costly, it would be wise to avoid it as much as possible. Again, opting out of overdraft coverage would be a start.

More important, you should set up account alerts so that you known when your balance falls below a certain amount. This way, you know not to spend anymore.

Consider Online Banks as Alternatives

Online banks don't have the costs of running a physical branch and ATM networks. This allows them to charge lower fees and provide higher interest rates to customers. If you're constantly paying monthly fees and expensive overdraft fees, an online checking account is worthy of your consideration:

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Ask a Question

Saturday, 17 Feb 2018 1:16 AM
<p>At US Bank I have two items that is pending you will not let me overdraft why is that</p>
imelectric
Thursday, 08 Feb 2018 8:53 PM
<p>You also have to watch closely, they will charge you multiple charges ($36) for only 1 overdraft. I had only 1 overdraft and they charge me $36 twice.</p>
MyBankTracker
Wednesday, 23 Aug 2017 10:21 PM
<p>Jon, banks don't usually disclose how much will be covered in the event of an overdraft. While many overdrafts may be covered, the bank may opt to deny a transaction that will lead to a large negative balance -- possibly under review on a case-by-case basis.</p>
disqus_v8dpFh41mR
Saturday, 12 Aug 2017 6:02 PM
<p>With us bank I opted for overdraft protection I have direct deposit set up for each month 892 what is the most they will cover on overdraft</p>
disqus_5SsvvyXENo
Wednesday, 26 Jul 2017 8:27 AM
<p>liar, U.S. Bank charges $36/per overdraft. They continue to do multiple charges overnight when your deposit is considered not in place yet. I cashed my checks at 7:30pm and deposited my fund to cover the checks at 11:30pm. I ended up getting 3 overdrafts. Over the phone, different branches, home branch included and all the bankers were finding their ways to excuse that's not the bank's fault. That's to tell Cut-off time is on customer's fault. I asked if there is any leeway or courtesy as I have never had that happens to my US Bank account, they insisted at NO. Horrible banking experience, terrible customer service.</p>
MyBankTracker
Wednesday, 28 Jun 2017 6:00 PM
<p>That sure is a lot to deal with. If you feel that you've been wronged and charged excessive fees, you can try to file a complaint with the CFPB before turning to more extreme measures: <a href="https://disq.us/url?url=https%3A%2F%2Fwww.consumerfinance.gov%3As1cT_CynogC8OcRqjiLhVBUhbDc&amp;cuid=15643" rel="nofollow noopener" title="https://www.consumerfinance.gov">https://www.consumerfinance...</a></p>
giacatherinemotti
Tuesday, 20 Jun 2017 8:20 PM
<p>US Bank has just done the worst thing. For years, they have been pretty good to me. But since they closed one of the only 2 branches in Santa Barbara, things have been going haywire with my account. They didn't update my now expired personal checking ATM card, and so I thought the one they did update was for that. when I overdrew the business checking because I had used that ATM card, they charged me 3 times for the same overdraft (of $27)- $36 +$36 (same day) and then another $25 a day later.</p><p>Then, to make matters worse, I didn't get a notice in the mail regarding this before using that ATM card again, thinking it was for the personal checking account, which has a reserve line. And this time, they charged me $36 that day and another $25 a day later.</p><p>Still haven't straightened things out - because the one branch in Santa Barbara told me that accounts that were opened in Goleta now were serviced by Ventura (an hour's drive away), not the downtown Santa Barbara branch. Total BS, if you ask me. I may have to enlist a lawyer to straighten this out.</p><p>I'm so sad to see yet another bank go down the evil road of greed and abuse. Thankfully, I have another account which doesn't abuse me, and it's a local bank. The big banks are TOO BIG to remain in business.</p>
SimonMBT
Monday, 19 Sep 2016 5:24 AM
<p>In your case, there is a clear violation of the overdraft policy. You should file a complaint with the Consumer Financial Protection Bureau: <a href="http://disq.us/url?url=http%3A%2F%2Fwww.consumerfinance.gov%2Fcomplaint%2F%3AaQ5iYiJwVoKNx0hBvq7toqu2Bzw&amp;cuid=15643" rel="nofollow noopener" title="http://www.consumerfinance.gov/complaint/">http://www.consumerfinance....</a></p>
chariesewetzler
Sunday, 11 Sep 2016 12:39 PM
<p>The no overdraft fee if amount is under $5 has been in effect since I opened my checking account in March 2016. At least, they SAY they won't charge you, but they do. Ive had 3 different times where they charged me anyway even though my account was overdrawn LESS THAN $5. The CSR said it was because the transaction total was $21 and I only had $17.50. Even though only $3.50 had overdrawn, she said the ENTIRE transaction amount had to be under $5 (even though it was only $3.50 overdrawn). I said that didn't make ANY SENSE nor is that rule stayed anywhere. She reversed it as a "courtesy" which is bull because it was a BANK ERROR. Each of the 3 times I was incorrectly charged the overdraft fee the CSR tried making up a different imaginary reason that it was legitimate. And she said that Id already received a "courtesy reversal", referring to the incident I just described. I had to get a manager who did reverse it on the second incident but refused to on the 3rd incident (which Im still dealing with and involves 12 total overdraft charges resulting from ONE overdraft of -4 dollars!) because Id "received multiple reversals" before and should be happy for those!!!!! It has been an utter nightmare dealing with US Bank and their Overdraft Policy. </p>
SimonMBT
Wednesday, 06 Jan 2016 4:42 PM
<p>JoAnne, take your situation to the Consumer Financial Protection Bureau to see what they can do for you:</p><p><a href="http://disq.us/url?url=http%3A%2F%2Fwww.consumerfinance.gov%2Fcomplaint%2F%3AaQ5iYiJwVoKNx0hBvq7toqu2Bzw&amp;cuid=15643" rel="nofollow noopener" title="http://www.consumerfinance.gov/complaint/">http://www.consumerfinance....</a></p>
Tuesday, 05 Jan 2016 6:32 PM
<p>I made a large deposit in October 2015, Evidently the bank had it pending for 3 days, so any purchases I made were considered overdrawn. I incurred 6 NSF fees of $36 each. I called the toll free number and was assured they would be reversed and never gave it another thought. Recently someone put fraudulent charges on my account and again I incurred 3 NSF fees. They did go back and reverse 2. I started looking more closely into my account and found that they never reversed the original 6. I called the toll free again and they told me I had to call the local branch. I called them and they reversed the 3rd fee from the fraud event , but told me they cannot do anything about the previous 6 because too much time has passed. This is bull****! That is $216!!</p>
SimonMBT
Tuesday, 19 May 2015 2:07 PM
<p>Hi, U.S. Bank had a tiered overdraft fee policy before August 2013, which imposed a $15 or $35 fee depending on the overdrawn amount. Since August 2013, the overdraft fee has been a flat $36 when your balance is overdrawn by more than $5.</p><p>As for why you were charged another $36 fee for an overdrawn balance of just 16 cents, I don't know why the bank did that. I would suggest bringing up their own fee policy to try to get the fee waived.</p>
disqus_5bZJ2lM48W
Tuesday, 19 May 2015 12:52 PM
<p>I found an inaccuracy in this article. My U.S. Bank checking account (I have a savings account there, as well, but I keep $5 in it only to keep it open) was overdrawn by $8 for a purchase that was $11, and the overdraft charge incurred was $36 (that was in early March 2015). I wasn't in the mood for a challenge, so I let it go. About two weeks later, I noticed another $36 overdraft charge, and upon calling the bank, the representative told me I was overdrawn by 16 cents, and therefore necessitated the charge. SIXTEEN CENTS! And they refused to remove it as a courtesy, because they had removed one FOURTEEN MONTHS earlier. The last phone call mentioned was made shortly after arriving home from making a $1200 deposit in a U.S. Bank ATM, and she said she could see that $200 of that deposit was available, and the remaining $1000 would be available the next day. So, in other words, my account was -.16 for a few hours one evening, and even with the deposit being made less than 10 hours later, they were refusing to offer a courtesy reverse of their charge. I don't know where the author of this article got the $15/$35 (based on the amount) overdraft charge information, but my overdrafts have been few and far between, and never for more than $10-15, and the charge has ALWAYS been $36. A few years back, before I knew about their monthly $10.75 maintenance fee for having less than $200 in the account on the specified maintenance date, that fee overdrew my account by $6.50, and they charged me $34 (the OD charge then) for that, as well.</p>
Friday, 20 Feb 2015 10:34 PM
<p>Same thing happened to my ill fiance who needs every penny. When he went in, they told him he didn't have any other accounts. then this week he gets his IRA renewal so he goes in to ask and again the manager rudely says it's too late! And she can't even bring up the beneficiary on the account as it was opened at another branch?? Why are they allowed to get away with this??</p>
disqus_7ryJ5gxzGL
Saturday, 24 May 2014 12:51 PM
<p>If you have savings account and a checking account the monthly fee is waived as long as you have it scheduled each month to automatically deposit money from the checking to the savings. Also if your place of employment has direct deposit you won't be charged the fee. The only problem I have is the fee will come out but won't be added back in til later. It should not show it as deducted at all.</p>
PoopdeckStain
Thursday, 10 Apr 2014 2:36 AM
<p>OK, if that's true my advice should only be taken by people whose credit is already ruined.</p>
Thursday, 10 Apr 2014 1:19 AM
<p>that is horrible advice. good way to destroy your credit</p>
PoopdeckStain
Monday, 07 Apr 2014 4:54 AM
<p>If you have a scanner or a smart phone, then Bank of Internet will work good. (The reason you need the scanner or smart phone is to make deposits.... you take pictures of your checks, that's how they are deposited). Free use of any ATM in America, and no fees.</p>
PoopdeckStain
Monday, 07 Apr 2014 4:52 AM
<p>I encourage everyone who suffers from US Bank's new fees to overdraw their account the amount owed them, and then move to Bank of Internet or a credit union.</p>
PoopdeckStain
Monday, 31 Mar 2014 5:22 AM
<p>Take out more money than you have at your ATM, then never go back. They deserve it. Next paycheck, go to a credit union or the Bank of the Internet.</p>
PoopdeckStain
Friday, 28 Mar 2014 8:58 PM
<p>US Bank, once a bank of value, is now just another $hitty bank.</p>
disqus_VxqbolbKDC
Friday, 20 Dec 2013 5:50 PM
<p>I'm so sick of US Bank and their fees. I'm looking for a better bank, with branches closer to where I live, better customer service and no hidden fees. My account was changed over without my knowledge from the Gold account to some generic account in which I have to pay them $6.95 for MY money to be direct deposited. I only get $700 a month and believe me that little bitty $6.95 hurts my pocket. Every penny counts in my household. Also, their customer service has really gone down hill. My family banked there for 20 yrs and I know of 3 members who are leaving, I and I am following suit.</p>
disqus_7RHNgdz4Ya
Monday, 18 Nov 2013 8:02 PM
<p>They are pretty firm on this direct deposit policy. My direct deposits total 998.62 and they refuse to waive the fee. I found this notification on my June Statement, but not in the "Important Things To Know About Your Account" section. It was at the bottom of my statement after all transactions. This is a crock.</p><p><a data-dsq-mention="disqus_qg3ljyqxzy:disqus" href="https://disqus.com/by/disqus_qg3LJYQxZy/" rel="nofollow noopener" title="https://disqus.com/by/disqus_qg3LJYQxZy/">AmericanWoman</a>, yes I would prefer to use a credit union, however locations are not convienent. The closest one to me is a 15 mile drive. Makes it hard to get cash when you have to drive 30+ minutes to get it.</p>
disqus_qg3LJYQxZy
Saturday, 09 Nov 2013 10:50 PM
<p>When will people learn, stop feeding these mega banks! Find a union bank. They have less fees, are more personal, and easier to deal with when you need a loan.</p><p>The mega banks are all about fees, fees, fees. Sure, they make you think a few dollars is not much but you multiply that small fee times all their customers nationwide and you're simply adding to the fat executive bonuses! How much do YOU get from them for lending them (depositing) your money? Have you ever looked at that? The interest these banks pay you for your money is an insult! Yes they want to charge you $36 fee, for many their interest for the entire year may not even be that much.. Wake up!</p>
Wednesday, 11 Sep 2013 1:34 PM
<p>I have an Easy Checking account with U.S. Bank. They never notified me in advance that I would have a monthly maintenance fee. I did not find out about it until I received my August statement. Goodbye forever U.S. Bank.</p>