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The bottom line: The U.S. Bank Standard Savings Account – Product Name Only may be worthwhile if you’re opening a joint bank account for a child or meet one of the requirements to waive the monthly service fee. However, it pays a low interest rate, and our best online high-yield savings account guide may have savings accounts with more standout features.
U.S. Bank Savings Rate
The U.S. Bank Standard Savings Account – Product Name Only is the only U.S. Bank savings account offered. Other brick-and-mortar banks may have premium savings accounts or account packages that combine checking and savings accounts.
If you’re interested in getting a money market account or CD, you might consider U.S. Bank’s other savings options.
Below, you’ll find more information on the U.S. Bank savings account interest rate:
Account
APY
U.S. Bank Standard Savings Account – Product Name Only
U.S. Bank Standard Savings Account – APY APY on all balances
U.S. Bank Standard Savings Account – Product Name Only Review
The U.S. Bank Standard Savings Account – Product Name Only could be a decent option if you meet one of the requirements for waiving the $4 monthly service fee. There’s no monthly service fee if you open a joint account with someone age 17 or younger. You’ll also be able to waive the fee if you keep at least $300 in your savings account daily or an average monthly collected balance of $1,000 or more.
Is U.S. Bank Trustworthy?
The Better Business Bureau rates businesses on how they handle customer issues and whether they have transparent business practices. A good BBB rating doesn’t necessarily mean that your relationship with a business will be perfect. If you have friends or family that have used U.S. Bank, chat with them about their perspectives. Online customer reviews are another option.
The BBB gives U.S. Bank a B+ rating due to government action against the bank.
In 2022, U.S. Bank paid $37.5 million in a settlement with the Consumer Financial Protection Bureau. The CFPB accused the bank of obtaining customers’ credit reports and opening checking accounts, …read more
Source:: Business Insider