U.S. Bank’s minimum balance requirements depend on the account type. The most popular account — Smartly Checking — effectively has no meaningful minimum: the $4.95 monthly fee is waived with any debit card purchase or electronic deposit. Easy Checking requires a $1,500 balance or $1,000/month in direct deposits.
U.S. Bank Minimum Balance Requirements at a Glance
| Account | Monthly Fee | Balance to Waive Fee | Alternative Waiver |
|---|---|---|---|
| Easy Checking | $6.95 | $1,500 min daily balance | $1,000/month direct deposit, or age 65+ |
| Smartly Checking | $4.95 | No balance requirement | Any electronic deposit OR any debit purchase |
| Safe Debit Account | $4.95 | Not waivable | No waiver option |
| Student Checking | $0 | N/A — no fee | Automatic for ages 18–24 |
| Standard Savings | $4.00 | $300 min daily balance | Linked U.S. Bank checking account |
| Platinum Select Money Market | $10.00 | $10,000 avg monthly balance | — |
| Elite Money Market | $25.00 | $10,000 avg monthly balance | — |
| CDs | None | Varies by term ($500 minimum to open) | — |
Easy Checking: $1,500 Minimum
U.S. Bank Easy Checking charges $6.95/month if none of these apply during the statement period:
- Maintain a $1,500 minimum daily balance (not average — the balance must stay at or above $1,500 every day of the statement period)
- Receive $1,000 or more in qualifying direct deposits per statement period
- Primary account holder is age 65 or older — automatic waiver
- Primary account holder is age 24 or younger — automatic waiver (transitions to regular fee after age 24)
Worked example: Your Easy Checking balance drops to $800 on the 15th of the month even though it was $2,000 for the other 29 days. The $6.95 fee still applies because the minimum daily balance requirement was not met every day.
Smartly Checking: Any Deposit or Purchase Qualifies
Smartly Checking’s $4.95 monthly fee is waived if either of these occurs at least once per statement period:
- Any electronic deposit — payroll, Social Security, Venmo transfer, or even a $1 mobile deposit
- Any debit card purchase — any amount at any merchant
In practice, any active Smartly Checking account automatically avoids the fee. The only scenario where $4.95 is charged is an account with zero transactions for the entire statement period.
Smartly Relationship Tiers: How They Work
U.S. Bank’s Smartly relationship program rewards customers who maintain higher combined balances across all U.S. Bank accounts:
| Tier | Combined Balance Required | Key Benefits |
|---|---|---|
| Standard | $0+ | Basic Smartly Checking |
| Silver | $10,000+ | 1 non-USB ATM fee reimbursement/month; rate bonus on savings |
| Gold | $25,000+ | 3 non-USB ATM fee reimbursements/month; enhanced rate bonus |
| Platinum | $75,000+ | Unlimited ATM fee reimbursements; best rate bonuses; reduced wire fees |
What counts toward tier thresholds: Checking balances, savings balances, money market balances, CD balances, IRA balances, and U.S. Bancorp Investment account balances — all combined.
Worked example: You have $8,000 in Smartly Checking and $5,000 in a U.S. Bank IRA. Your combined $13,000 qualifies you for Silver tier, unlocking ATM fee reimbursements without needing $10,000 in checking alone.
Savings Account Minimum Balances
Standard Savings
- No minimum to open
- $4/month fee, waived with: a $300 minimum daily balance, or being the primary owner of a U.S. Bank checking account
- Linking your savings to a U.S. Bank checking account is the easiest waiver — no balance required
Platinum Select Money Market Savings
- $500 minimum to open
- $10/month fee, waived with $10,000 average monthly balance
- Higher APY than Standard Savings; variable rate adjusted periodically
Elite Money Market
- $10,000 minimum to open
- $25/month fee, waived with $10,000 average monthly balance
- Highest savings APY offered by U.S. Bank; tiered rates based on balance
How to Avoid U.S. Bank Fees Without High Balances
- Use Smartly Checking instead of Easy Checking — the waiver is far more accessible
- Set up any direct deposit (even a small recurring transfer from another account can qualify as an electronic deposit)
- Make at least one debit purchase per month — this alone waives the Smartly fee
- Link a savings account to checking — waives the $4 savings fee automatically
- Build toward Silver tier ($10,000 combined) to add ATM fee reimbursements
See the full U.S. Bank guide for fees, ATM limits, and customer service numbers.
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