At a Glance

Choosing the right bank can be a daunting task, as many factors exist, such as fees, interest rates and branch availability. U.S. Bank and Chase are two of the largest banks in the U.S. Both banks offer a wide range of products and services but have some key differences. Read on to learn more about each bank’s offerings.

In this article, you’ll learn:

U.S. Bank vs. Chase – Overview

U.S. Bank Chase
U.S. Bank offers numerous checking accounts, with their flagship U.S. Bank Smartly Checking. It features an opening deposit of $25, rewards ranging from $100-$500 based on the deposit amount and a $6.95 monthly maintenance fee, which can be waived. Chase offers several different checking accounts to their customers. Still, The Total Checking is the bank’s standout offering with a waivable $12 monthly maintenance fee, a $300 cash reward (if you deposit $500 within 90 days) and no minimum deposit to open.
The U.S. Bank Standard Savings account is their standout offering, with a 0.01% APY on all balances and a waivable $4 per month account maintenance fee. The standard Chase Savings account is the bank’s best offering, with a $5 monthly waivable account maintenance fee and a 0.01% APY, which matches that offered by U.S. Bank
U.S. Bank offers a variety of CDs with terms ranging from six months to five years. U.S. Bank’s CD rates are generally higher than Chase’s CD rates. Offers a variety of CDs with terms ranging from three months to five years. Chase’s CD rates are generally lower than U.S. Bank’s CD rates.
U.S. Bank charges a variety of fees, including monthly maintenance fees ($0-7) and overdraft fees ($36). Chase charges a variety of fees, including monthly maintenance fees (up to $25), non-Chase ATM fees ($3 per transaction), and overdraft fees ($34).
U.S Bank has over 2,200 branches in 26 states, over 5,000 ATMs, and has been ranked higher than Chase in customer satisfaction surveys Chase has over 4,700 branches in 38 states, over 16,000 ATMs, and has received strong, albeit lower, ratings in customer satisfaction surveys

Why you should choose U.S. Bank

When it comes to selecting a bank, there are several factors to consider. Below are some reasons U.S. Bank might be the right choice for you.:

  1. Wide range of products and services: U.S. Bank offers a comprehensive suite of banking products and services, including checking and savings accounts, credit cards, loans, investment options, and more. Whether you’re looking for personal banking solutions or business banking services, U.S. Bank has you covered.
  2. Nationwide presence: With thousands of branches and ATMs across the United States, U.S. Bank provides convenient access to banking services, wherever you are. Whether you prefer in-person banking or online and mobile banking, U.S. Bank offers flexibility to meet your needs.
  3. Strong reputation: U.S. Bank has a long history of financial stability and reliability. As one of the largest banks in the country, it has earned a reputation for trustworthiness and customer service excellence.
  4. Digital banking capabilities: U.S. Bank offers robust online and mobile banking platforms, allowing you to manage your accounts, pay bills, transfer funds, and more, anytime and anywhere. Their institution’s user-friendly interfaces and advanced security features make banking on-the-go easy and secure.
  5. Community involvement: U.S. Bank is committed to giving back to the communities it serves through philanthropic initiatives and volunteer efforts. By banking with U.S. Bank, you are supportingcan support a company that values corporate social responsibility and community engagement.

Pros and cons of U.S. Bank

Pros Cons
Wide range of banking products Limited branch presence in some regions
Nationwide ATM network Certain fees may apply for services
Strong reputation for reliability Interest rates may not be the most competitive
Robust digital banking capabilities Limited international banking options
Commitment to community involvement Limited availability of specialized financial services

Why you should choose Chase

When considering your banking options, Chase offers the followingseveral compelling reasons to consider:

  1. Diverse range of products: Chase provides a wide array of banking products and services, including checking and savings accounts, credit cards, mortgages, loans, investment options, and more. Whatever your financial needs may be, Chase likely has a solution.
  2. Extensive branch and ATM Network: With thousands of branches and ATMs nationwide, Chase offers unparalleled convenience for in-person banking and cash access. Whether you’re traveling or relocating, Chase’s widespread presence ensures accessibility wherever you go.
  3. Innovative technology: Chase is known for its cutting-edge digital banking platforms, including intuitive online and mobile banking apps. These platforms offer features, such as mobile check deposit, bill pay, budgeting tools, and account alerts, empowering customers to manage their finances effortlessly.
  4. Strong customer service: Chase prioritizes customer satisfaction, providing responsive customer support through various channels, including phone, email, and in-person assistance at branches. Whether you have questions about your account or need assistance with a financial transaction, Chase’s dedicated team is ready to help.
  5. Exclusive benefits and rewards: Chase offers exclusive perks and rewards programs for its customers, such as cashback bonuses, travel rewards, and discounts on various products and services. These incentives add value to your banking relationship and enhance your overall banking experience.

Pros and cons of Chase

Pros Cons
Diverse range of banking products offered There are a multitude of fees
Extensive branch and ATM network available Limited international banking options
Innovative digital banking platforms Higher minimum balances often required
Strong customer service Interest rates may not be as competitive as some other providers
Exclusive benefits and rewards Specialized financial services are also difficult to receive

U.S. Bank vs. Chase – Checking accounts

U.S. Bank Smartly Checking Chase Total Checking
Overview The U.S. Bank Smartly Checking account provides a modern banking experience with features like minimal monthly fees, no minimum balance requirements, and convenient mobile banking tools. It offers easy access to ATMs, online banking, and mobile check deposit, making it a hassle-free option for those seeking simplicity and convenience in managing their finances. The Chase Total Checking account offers customers a comprehensive banking solution with a range of features tailored to meet their financial needs. With no monthly service fees for up to 24 months, access to a vast network of ATMs, and convenient mobile banking capabilities, customers can enjoy easy and flexible money management. Additionally, benefits, such as mobile check deposit, online bill pay, and access to Chase’s innovative banking tools make the Total Checking account a convenient choice for individuals seeking a reliable and efficient banking experience.
Monthly fee A $6.95 fee is waivable if one of the following conditions is met:

1. Receive over $1,000 in direct deposits each month

2. Keep an average daily balance of at least $1,500

3. Have an eligible U.S. Bank credit card

4. Be age 24 or younger or age 65 or older or in the military

5. Qualify for a smart rewards tier

A $12 fee is waivable if one of the following conditions is met:

  1. Receive direct deposits of $500 or more monthly
  2. Maintain a minimum daily balance of $1,500
  3. Maintain an average beginning day balance of at least $5,000 across eligible Chase accounts
Minimum deposit $25 N/A
Sign-up bonus Up to $700 – expires June 27, 2024 Up to $300 after depositing $500 within 90 days – expires April 17, 2024
APY N/A N/A
ATM network More than 37,000 free ATMs, including those using the MoneyPass network More than 15,000 free Chase ATMs (nNote: $3 fee for using non-Chase ATMs
Apply now Apply now

Winner – Chase

In summary, the Chase Total Checking account emerges as the preferred choice over the U.S. Bank Smartly Checking for several reasons. Firstly, Chase offers a longer period of no monthly service fees, providing customers with up to 24 months of fee-free banking compared to U.S. Bank’s unspecified duration, waivable fees aside. Secondly, the extensive network of Chase ATMs ensures convenient access to cash without incurring additional charges.Additionally, Chase’s robust mobile banking platform, coupled with features like mobile check deposit and online bill pay, enhances the overall banking experience, offering greater flexibility and convenience to customers. Overall, the Chase Total Checking account stands out as a superior option, offering a comprehensive set of features and benefits that cater to the diverse needs of modern banking consumers.

U.S. Bank vs. Chase – Savings accounts

U.S. Bank Standard Savings Chase Savings℠
Overview The U.S. Bank Standard Savings account provides customers with a straightforward and reliable way to save money, while earning competitive interest rates. With no monthly maintenance fees for accounts with a minimum daily balance of $300 or for customers under 18 years old, it offers a hassle-free saving solution. Additionally, the account allows for easy access to funds through online and mobile banking services, making it convenient to track savings goals and manage finances effectively. Overall, the U.S. Bank Standard Savings account is an excellent choice for individuals looking to grow their savings steadily with minimal fees and convenient access to their funds. The Chase Savings account offers customers a simple and flexible way to build their savings, while providing easy access to funds and competitive interest rates. With no monthly service fees for account holders under 18 or when meeting minimum balance requirements, it provides a cost-effective savings solution. Customers can benefit from convenient features, such as online and mobile banking, allowing them to manage their savings goals efficiently. Additionally, the account offers access to Chase’s extensive network of ATMs, providing convenient cash withdrawals and deposits. Overall, the Chase Savings account is an attractive option for individuals seeking a reliable and accessible platform to accumulate money.
Monthly fee A $4 fee is waivable if one of the following criteria is met:

  1. Maintain a daily balance of at least $300
  2. Maintain an average monthly balance of at least $1,000
  3. Have an account holder under the age of 18 on the account
A $5 fee is waivable if one of the following criteria is met:

  1. Maintain a daily balance of at least $300
  2. Have a repeating automatic transfer of at least $25 each month from your Chase checking account
  3. Have a linked premium Chase checking account
  4. Have a linked Chase College Checking account for overdraft protection
  5. Have an account owner who is younger than 18
APY 0.01% 0.01%
Minimum deposit $25 $0
Sign-up bonus N/A N/A
Apply now Apply now

Winner – Chase

In conclusion, the Chase Savings account stands out as a superior option compared to the U.S. Bank Standard Savings for several reasons. Firstly, Chase offers greater flexibility with its savings account, providing various options to waive monthly service fees, including maintaining a lower minimum balance or being under 18 years old. Additionally, Chase’s extensive network of ATMs and online banking features offer more convenience and accessibility for customers to manage their savings.Furthermore, Chase’s competitive interest rates and promotional offers provide an opportunity for customers to maximize their savings potential. Overall, the Chase Savings account offers a comprehensive set of features and benefits that make it a preferred choice for individuals seeking a reliable and flexible savings solution.

U.S. Bank vs. Chase – Certificates of Deposit

A comparison of U.S. Bank’s and Chase’s certificates of deposit is provided below:

U.S. Bank Chase
Overview The U.S. Bank certificate of deposit (CD) offers customers a secure way to grow their savings with competitive fixed interest rates and a variety of term lengths, ranging from a few months to a couple years. With a CD, customers can lock in an interest rate for a specific period, allowing them to save more than achievable via traditional savings accounts. U.S. Bank provides flexibility with its CD options, allowing customers to choose terms that align with their savings goals and time horizon. Additionally, the CDs are FDIC-insured, providing peace of mind and security. Overall, U.S. Bank’s CDs are an excellent option for individuals looking to enhance their savings in a low-risk way. The Chase certificates of deposit (CDs) offer customers a reliable way to grow their savings with competitive fixed interest rates and flexible term lengths. With terms ranging from a few months to several years, customers can choose the duration that best suits their financial goals. Chase CDs provide a secure investment option as they are FDIC-insured, ensuring the safety of customers’ deposits. Chase offers a variety of CD options, including traditional CDs, jumbo CDs for larger deposits, and special promotional CDs, offering above-average rates.
1-year APY 0.05% 0.01%
3-year APY 0.10% 0.01%
5-year APY 0.25% 0.01%
Minimum deposit $500 $1,000
Apply now Apply now

Winner – U.S. Bank

All things considered, the U.S. Bank’s certificates of deposit beat Chase’s. U.S. Bank’s vehicles require a lower minimum deposits and offer comparatively higher APY rates on a five-year period.

U.S. Bank vs. Chase – Fees

U.S. Bank Chase
ATM fees N/A $3 for non-Chase ATMs
Overdraft fees $36 $34
Other fees N/A N/A

Chase is the winner in the fee category, only slightly, due to the fact it levies a lower overdraft fee. Additionally, even though Chase offers fees on non-Chase ATMs, there are more in-network Chase ATMs than in-network U.S. Bank ATMs, which provides greater flexibility.

U.S. Bank vs. Chase – Credit cards

When it comes to credit cards, both U.S. Bank and Chase offer a range of options to suit different spending habits and rewards preferences. U.S. Bank’s lineup includes the U.S. Bank Altitude® Go Visa Signature® Card, known for its generous rewards on dining and streaming services, and the U.S. Bank Cash+™ Visa Signature® Card, which allows cardholders to choose their own bonus categories for cash back. On the other hand, Chase boasts popular cards, such as the Chase Sapphire Preferred® Card, renowned for its flexible travel rewards and valuable sign-up bonus, and the Chase Freedom Unlimited®, which offers unlimited cash back on every purchase. To help you make an informed decision between these two banking giants, utilize our comparison tool below

U.S. Bank Cash+® Visa Signature® Card

Apply now with U.S. Bank
Reward rate2% - 5%
Reward details5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose. 2% cash back on one everyday category, like gas stations and EV charging stations, grocery stores or restaurants;3 1% cash back on all other eligible purchases
Intro Bonus:$200 Annual fee$0
Regular APR19.49% - 29.74%

Chase Sapphire Preferred®

Apply now with Chase
Reward rate1x - 5x
Reward detailsEarn up to $50 in statement credits each account anniversary year for hotel stays purchased through Chase Ultimate Rewards®. Earn 5x total points on travel purchased through Chase Ultimate Rewards®, excluding hotel purchases that qualify for the $50 Annual Ultimate Rewards Hotel Credit. Earn 2x on other travel purchases. Earn 3x points on dining, including eligible delivery services, takeout and dining out. Earn 3x points on online grocery purchases (excluding Target, Walmart and wholesale clubs). Earn 3x points on select streaming services. Plus, earn 1 point per dollar spent on all other purchases.
Intro Bonus:60,000 Points Annual fee$95
Regular APR21.24% - 28.24%

Chase Freedom Unlimited®

Apply now with Chase
Reward rate1.5% - 5%
Reward detailsEarn unlimited 1.5% cash back or more on all purchases, like 3% on dining and drugstores and 5% on travel purchased through Chase.
Intro Bonus:$200 Annual fee$0
Regular APR20.24% - 28.99%
Read full review

U.S. Bank vs. Chase – Banking experience

A rundown of the banking experiences provided by U.S. Bank and Chase are provided below:

U.S. Bank Chase
Branches Over 2,000 More than 4,700
Customer service Customer service is available 24/7 by phone. And additional chat support as well as Twitter support are also available. Customer service is available by phone 8 a.m.-12 a.m. ET Monday through Friday and 8 a.m.-8 p.m. ET on weekends. Online messaging support is also available.
Banking app ratings 4.8 out of 5.0 stars for iOS

4.7 out of 5.0 stars for Android

4.8 out of 5.0 stars for iOS

4.4 out of 5.0 stars for Android

Bottom line

U.S. Bank and Chase, both offer competitive checking and savings account options with competitive features and benefits. U.S. Bank’s Smartly Checking provides a modern banking experience with no monthly fees and convenient mobile banking tools, while Chase’s Total Checking stands out with its extensive ATM network and longer fee waiver period. For savings, U.S. Bank’s Standard Savings offers competitive interest rates and minimal fees, whereas Chase’s Savings account provides flexibility and accessibility with various fee waiver options. All things considered, Chase has a slight edge over U.S. Bank, given its more economical fee schedule. That said, choosing between U.S. Bank and Chase is a highly personal decision.

FAQs

To open a checking account with U.S. Bank, you can visit their website or a local branch to start the application process. You will need to provide personal information such as your name, address, social security number, and a form of identification. For more detailed instructions, you can learn more here.

To open a Chase checking account, you can apply online through their website, visit a local branch, or call their customer service line. You will need to provide personal information such as your name, address, social security number, and a form of identification. The process typically takes just a few minutes, and you can start using your account once it’s opened.

The rewards offered by Chase and U.S. Bank can vary. Both banks offer rewards programs with their checking and savings accounts, including cash bonuses, interest rate boosts, and other perks. To determine which bank will offer you higher rewards, it’s important to compare the programs, account features, and applicable terms and conditions.