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

Margarette BurnetteFeb 14, 2020
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U.S. Bank and Chase 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: $8.95 with paper statements, or $6.95 with eStatements. (See below for three ways to waive it.)

  • Minimum opening deposit: $25.

Chase Total Checking®

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

  • Minimum opening deposit: $0.

  • $225 bonus on Chase's Total Checking® account (expires 7/14/2021).

Savings accounts

U.S. Bank Standard Savings

  • APY: 0.01% on all balances.

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

Chase Savings℠

  • APY: 0.01% (effective 9/14/20; 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.

  • 5 years: 0.25% APY.

  • Minimum deposit: $500.

Chase CD interest rates

  • 1 year: 0.01% APY.

  • 5 years: From 0.01% APY.

  • Minimum deposit: $1,000.

Overdrafts, ATMs, customer service

  • Overdraft fee: $36, maximum of four per day.

  • Overdraft protection transfer fee: $12.50 per day.

  • Branches: Over 3,000.

  • ATMs: 4,700.

  • Customer service: Available by phone 24/7.

  • Overdraft fee: $34, maximum of three per day.

  • Overdraft protection transfer fee: $0.

  • Branches: More than 4,700.

  • ATMs: 16,000.

  • Customer service: Available by phone 7 a.m.-12 a.m. ET.

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

    Choose Chase if:

    • You're looking for checking accounts with easy ways to waive monthly fees.

    Choose U.S. Bank if:

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

    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.

    » Want to know more? Check out NerdWallet's best high-yield online savings accounts and top online checking accounts

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

    U.S. Bank Easy Checking

    Chase Total Checking®

    Monthly fee

    $8.95 ($6.95 if you opt for online statements).

    • Receive direct deposits of at least $1,000 each month.

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

    • Account holder is 65 or older.

    $12.

    • 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

    • About 4,700 free U.S. Bank ATMs.

    • $2.50 fee for using non-U.S. Bank ATMs in the U.S. and abroad.

    • 16,000 free Chase ATMs.

    • $2.50 fee for using non-Chase ATMs.

    Sign-up bonus

    None.

    $225 (expires 7/14/2021); our bonuses roundup explains how to qualify.

    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.

    » 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 9/14/20; rates are variable and subject to change).

    Monthly fees

    $4.

    • Maintain a daily balance of at least $300.

    • Keep $1,000 or more as the average monthly balance.

    • Account holder is under 18.

    $5.

    • Have a daily balance of at least $300

    • Set up an automatic transfer of at least $25 a month from a Chase checking account

    • Link to a premium Chase checking account

    • Link to a Chase College Checking℠ account

    • Fee waived for those younger than 18

    Minimum deposit to open

    $25.

    $0.

    Sign-up bonus

    N/A

    N/A

    Neither bank has strong interest rates. Both banks charge monthly fees, but they are easy to waive. U.S. Bank and Chase have premium savings or money market accounts that can earn somewhat better rates, but they require a qualifying linked account or higher minimum balance.

    » 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.

    Both banks' CDs have low rates — online banks offer five-year CDs with rates upward of 0.50%. But U.S. Bank gets the nod over Chase because most of U.S. Bank’s CDs earn a little 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 3,000.

    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.

    • Email support available.

    • Social media support available.

    • Available 7 a.m.-12 a.m. ET by phone.

    • Email support available.

    • Social media support available.

    Both banks have comparable mobile app ratings. Chase has more branches, but it has extended customer service hours daily instead of 24/7 access like U.S. Bank has.

    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.

    Overdraft protection transfer fee

    $12.50 per day.

    $0.

    Extended overdraft fee

    $25 per week, beginning on the eighth consecutive calendar day with a negative balance.

    $0.

    If your account goes negative, you'd probably pay fewer fees with Chase. Keep in mind, though, that some online banks have more flexible overdraft policies.

    Chase has an edge

    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.

    » To see more options, see what other national banks have to offer.