U.S. Bank vs. Chase: Which Is Best for You?

These two large national banks have a lot in common, but there are some key differences. Here are the details to know if you’re deciding between them.
Dec 17, 2021

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U.S. Bank and Chase are two of the largest banks in the U.S. They offer similar benefits, such as multiple account offerings and extensive ATM and branch networks. But which is best for you? To help you decide, we compared them side by side.

Snapshot comparison

U.S. Bank

Chase

Checking accounts

U.S. Bank Easy Checking

  • Monthly fee: $6.95. (See below for ways to waive it.)

  • Minimum opening deposit: $25.

  • Bonus: $400 on Easy Checking (expires 09/02/2022).

Chase Total Checking®

  • Monthly fee: $12. (See below for ways to waive it.)

  • Minimum opening deposit: $0.

  • Bonus: $200 bonus on Chase Total Checking® (expires 10/19/2022).

Savings accounts

U.S. Bank Standard Savings

  • APY: 0.01% on all balances.

  • Monthly fee: $4. (See below for ways to waive it.)

Chase Savings℠

  • APY: 0.01% effective as of 07/02/2022. Interest rates are variable and subject to change.

  • Monthly fee: $5. (See below for five ways to waive it.).

Certificates of deposit

U.S. Bank Certificate of Deposit

  • 1 year: 0.05% APY.

  • 3 years: 0.10% APY.

  • 5 years: 0.25% APY.

  • Minimum deposit: $500.

Chase CD interest rates

  • 1 year: 0.01% APY.

  • 3 years: 0.01% APY.

  • 5 years: From 0.01% APY.

  • Minimum deposit: $1,000.

Overdrafts, ATMs, customer service

U.S. Bank details
  • Overdraft fee: $36, maximum of four per day.

  • Overdraft protection transfer fee: $12.50 per day.

  • Branches: Over 2,000.

  • ATMs: Nearly 40,000, including those in the MoneyPass network.

  • Customer service: Available by phone 24/7.

  • Chase details
  • Overdraft fee: $34, maximum of three per day. No charge if account is overdrawn by $50 or less at end of day. Customers can also avoid an overdraft fee if the account balance is overdrawn more than $50 but is brought down to being overdrawn by $50 or less by the end of the next business day.

  • Overdraft protection transfer fee: $0.

  • Branches: More than 4,700.

  • ATMs: 16,000.

  • Customer service: Available by phone 8 a.m.-12 a.m. ET, Monday-Friday, 8 a.m.-8 p.m. ET on weekends.

  • U.S. Bank Overall Star Rating
    NerdWallet rating 
    Read review
    Chase Overall Star Rating
    NerdWallet rating 

    at Chase, Member FDIC

    Choose Chase if:

    • You want to open an account without having to meet a minimum deposit requirement.

    • You're looking for a checking account with a lower direct deposit requirement to waive the monthly fee.

    Choose U.S. Bank if:

    • You can take advantage of CDs that earn more interest and have lower deposit requirements than Chase's CDs.

    • You prefer to have 24/7 access to customer support by phone.

    • You want access to a larger network of ATMs.

    Or go with an alternative

    Unlike these brick-and-mortars, online banks don’t have thousands of branches. But they do have excellent annual percentage yields (APYs) that make your savings grow faster. And fees tend to be low or nonexistent.

    U.S. Bank vs. Chase: Basic checking accounts

    U.S. Bank Easy Checking

    Chase Total Checking®

    Monthly fee

    $6.95.

    3 ways to waive it
    • Receive direct deposits of at least $1,000 each month.

    • Maintain an average daily balance of at least $1,500.

    • Have an account holder who is 65 or older.

    $12.

    3 ways to waive it
    • Receive direct deposits of $500 or more monthly.

    • Maintain a minimum daily balance of $1,500.

    • Maintain an average beginning day balance of at least $5,000 across eligible Chase accounts.

    Minimum deposit to open

    $25.

    $0.

    APY

    None.

    None.

    ATM fees and network

    • Nearly 40,000 free ATMs, including those in the MoneyPass network.

    • $2.50 fee for using out-of-network ATMs.

    • 16,000 free Chase ATMs.

    • $3 fee for using non-Chase ATMs domestically ($5 internationally).

    Sign-up bonus

    $400 (expires 09/02/2022); our bonuses roundup explains how to qualify.

    $200 (expires 10/19/2022); our bonuses roundup explains how to qualify.

    + Click here for analysis of U.S. Bank and Chase's checking accounts

    U.S. Bank’s monthly fee is lower, but Chase makes it easier to waive its fee. Both banks have premium checking accounts that earn minimal interest and have higher minimum balance requirements.

    Both banks offer a cash bonus, but U.S. Bank's offers the opportunity to earn more (expires 09/02/2022).

    » See more options on our list of best checking accounts

    U.S. Bank vs. Chase: Basic savings accounts

    U.S. Bank Standard Savings

    Chase Savings℠

    APY

    0.01% APY.

    0.01% effective as of 07/02/2022. Interest rates are variable and subject to change.

    Monthly fees

    $4.

    3 ways to waive it
    • Maintain a daily balance of at least $300.

    • Maintain an average monthly balance of at least $1,000.

    • Have an account holder under age 18.

    $5.

    5 ways to waive it
    • Maintain a daily balance of at least $300.

    • Have a repeating automatic transfer of at least $25 each month from your Chase checking account.

    • Have a linked premium Chase checking account.

    • Have a linked Chase College Checking℠ account for Overdraft Protection.

    • Have an account owner who is younger than 18.

    Minimum deposit to open

    $25.

    $0.

    Sign-up bonus

    N/A

    N/A

    + Click here for analysis of U.S. Bank and Chase's savings accounts.

    Neither bank has strong interest rates. Both banks charge monthly fees, but they are easy to waive. U.S. Bank and Chase also offer premium savings or money market accounts, but rates are the same or barely better and they require a qualifying linked account.

    » Looking for higher rates? Explore NerdWallet's list of top online savings accounts

    U.S. Bank vs. Chase: Certificates of deposit

    U.S. Bank

    Chase

    1-Year APY

    0.05%.

    0.01%.

    3-Year APY

    0.10%.

    0.01%.

    5-Year APY

    0.25%.

    0.01%.

    Minimum deposit to open.

    $500.

    $1,000.

    Rates may vary by location.

    + Click here for analysis of U.S. Bank and Chase's CDs

    Both banks' CDs have low rates. Online banks offer five-year CDs with rates upward of 0.80%. But U.S. Bank gets the nod over Chase because most of U.S. Bank’s CDs earn more interest than similar Chase CDs. Also, U.S. Bank has lower deposit requirements for its regular CDs.

    » To compare, see the latest top CD rates

    U.S. Bank vs. Chase: Banking experience

    U.S. Bank

    Chase

    Branches

    Over 2,000.

    More than 4,700.

    Banking apps (ratings from app store users)

    • 4.8 out of 5 stars for iOS.

    • 4.6 out of 5 for Android.

    • 4.8 out of 5 stars for iOS.

    • 4.4 out of 5 for Android.

    Customer service

    • Available 24/7 by phone.

    • Chat support available.

    • Twitter support available.

    • Available by phone 8 a.m.-12 a.m. ET, Monday-Friday, 8 a.m.-8 p.m. ET on weekends.

    • Online messaging support available.

    • Social media support available.

    + Click here for analysis of U.S. Bank and Chase's banking experience

    The banks have comparable mobile app ratings. Chase has more branches and it has extended customer service hours but U.S. Bank has 24/7 customer support.

    U.S. Bank vs. Chase: Overdraft fees

    U.S. Bank

    Chase

    Overdraft fee

    $36, maximum of four per day.

    $34, maximum of three per day. No charge if account is overdrawn by $50 or less at end of day or if the balance is overdrawn more than $50 and then brought down to being overdrawn by $50 or less by the end of the next business day.

    Overdraft protection transfer fee

    $12.50 per day.

    $0.

    Extended overdraft fee

    $36 per week, beginning on the eighth consecutive calendar day with a negative balance.

    None.

    + Click here for analysis of U.S. Bank and Chase's overdraft fees

    If your account goes negative, you'd probably pay fewer fees with Chase because unlike U.S. Bank, it doesn’t charge a fee for overdraft protection transfers or an extended overdraft fee. Neither bank charges an overdraft fee if your account is overdrawn by $50 or less at the end of the day. Customers can also avoid an overdraft fee if the account balance is overdrawn by more than $50 but is brought down to overdrawn by $50 or less by the end of the next business day.

    Both banks offer checking accounts that don’t charge overdraft fees at all, but they each require a monthly fee that can’t be waived. But if overdrawing your account isn't a concern for you, keep in mind that some online banks and credit unions offer free accounts and don’t charge overdraft fees.

    Should you choose U.S. Bank or Chase?

    Chase has more to offer thanks to slightly easier ways to waive its basic checking account fee. But U.S. Bank might be better if CD rates factor into your decision. If you’re looking to save money at high rates, consider shopping around at credit unions and online banks.

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