U.S. Bank Small Business Checking Account – 2019

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  • U.S. Bank is best for newer, smaller businesses or businesses with moderate cash flow and transactions.
  • Introductory offer of 50 percent off your first check order up to $50.
  • Monthly maintenance fees vary for other non-small business checking accounts.  
  • U.S. Bank has 3,200-plus physical branch locations and more than 5,000 ATMs.
  • U.S. Bank offers programs that allow merchants to accept customer checks without the risk through their anti-check fraud feature.
  • Fees for checking accounts that are not for small businesses are high.
  • To open a business checking account at U.S. Bank you need to contact a specialist on the phone, start your application process through their online form and they will reach out to you, or visit a branch.

Is U.S. Bank easy to use?

U.S. Bank has an easy to use mobile app that offers remote check deposit options. The bank’s network offers a great mix of web support and branch support in addition to 25,000 ATMs. It is a highly accessible bank for business owners to get the financial solutions they need when they need them without the hassle. There is a mix of in-person services, phone, web, and mobile that are all easy-to-use. Additionally, the fee schedule and balance minimums are not complicated to figure out to avoid extra costs while banking.

What are U.S. Bank’s small business checking options?

U.S. Bank offers four different accounts depending on your business size and cash-flow cycle:

Platinum Business Package

Offers extra rewards for businesses with higher balances in their accounts

  • $25 Monthly Maintenance Fee
  • You can waive the monthly maintenance fee if you have a $25,000 average collected checking balance or $75,000 combined average collected business deposits and outstanding business credit balances.

Gold Business Package

Flexibility for businesses with a more moderate number of transactions per month.

  • $20 Monthly Maintenance Fee
  • You can waive the monthly maintenance fee if you have a $10,000 average collected checking balance or $25,000 combined average collected checking balance on interest-bearing option.  

Silver Business Package

A simple checking account for new or small businesses.

  • No Monthly Maintenance Fee

Premium Business Checking

An analyzed account that invests higher balances.

  • Monthly Maintenance Fee Varies
  • Analyzed account; maintenance and transaction fees can be offset by an earnings credit based on account balance.

Does U.S. Bank offer checking account bonuses?

U.S. Bank gives its business checking customers a special 50 percent discount on their first check order up to $50 even if you wait months to order the checks. If you go to sign up at a branch you can get a discounted price on a mobile card reader and get it for just $49 or a full terminal for $399. This is only when you sign up for its clear and simple pricing program.

Does U.S. Bank have hidden fees?

U.S. Banks offers a competitive fee schedule when compared with other top banks for business checking account customers. Here are some of the fees you might encounter while banking at U.S. Bank:

  • Monthly Maintenance fee: No monthly maintenance fee for US Bank silver business checking, all other monthly fees vary see above section for details.
  • Transaction fee: $0.50 cents per transaction after the first 150 transactions limit is reached each month
  • Cash deposit fee: The first $2,500 in cash deposits are free every month
  • ATM fee: No out-of-network additional charge nationwide and access to 3,200 ATMs that have free withdrawals in addition to 25,000 more MoneyPass ATMs.
  • Domestic incoming wire transfer fee: $20
  • Domestic outgoing wire transfer fee: $30
  • International incoming wire transfer fee: $25
  • International outgoing wire transfer fee: $50

How big is U.S. Bank?

The U.S. Bank network is among the top five biggest banks in America. It has 3,200 physical branch locations and 5,000 ATMs where you can receive free financial services. Using the branch locator on the web portal or mobile app you can find the nearest branch or feeless ATM. U.S. Bank has

What U.S. Bank’s checking account features?

US Bank also offers a mobile banking app so you can oversee all of your business and personal accounts, and easily make transfers and manage funds. U.S. Bank offers their customers a pretty wide variety of special features for their business checking accounts. Here are some of them:

ADP Payroll

  • U.S. Bank partners with ADP® to deliver flexible payroll, tax, and human resource solutions for companies of all sizes. 

Customer Check Risk Management

  • Offer customers the option of paying by check while cutting costs and associated fraud risk. With Electronic Check Services, checks are auto-converted into electronic transactions.

Remote Check Deposit Solutions

  • Deposit checks with your U.S. Bank mobile app, the Deposit Express, or with on-site bank location electronic deposits with only a $15,000 per day limit on mobile check deposit.

Business Reserve Line

  • Get overdraft protection with a revolving line of credit up to $5,000 for advanced overdraft prevention.

Card Payment Processing

  • Point-of-Sales solutions, mobile card payments, online/remote card payments, check and card processing, and international card payments for businesses.

Business Money Market Accounts

  • Earn higher interest rates and watch your balance increase, giving you unlimited access to your funds while getting extra cash.

How do I open a U.S. Bank small business checking account?

To open a U.S. Bank business checking account, you have to contact a U.S. Bank specialist on the phone or visit a branch location near you. You can, however, start your application process online to give a representative some information about your business to help them tailor your customer experience when you do speak with a representative. There is no way to sign up exclusively online.

Summary

U.S. Bank is a pretty large network that offers good customer support, a lot of ATM locations, a wide variety of special features and most importantly a free small business checking account. Few banks this large offer a free checking account with no monthly fee. For those who don’t want to bank exclusively online or on their phone U.S. Bank is a good option for business owners who would like to visit branch locations to do their banking. There is something for everyone at U.S. Bank and the 50% off your first check order for new customers is a nice touch.

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