One of the biggest banks in the country, U.S. Bank, provides a variety of financial services and products, including checking accounts. In comparison to the bank’s regular checking account, the premium U.S. Bank Checking account has more advantages and features.
With the U.S. Bank Premium Checking checking account, you can get a higher interest rate, lower personal and home equity loan rates, free ATM withdrawals, and other benefits. Customers must maintain a minimum amount of $5,000 or a combined balance of $25,000 or more across all of their U.S. Bank accounts in order to be eligible for the Premium Checking account. What is APY U.S. Bank, exactly?
The term “annual percentage yield,” or “APY,” refers to the actual interest rate that customers receive on the balance of their accounts. Customers who have U.S. Bank Premium Checking earn a greater rate for larger amounts because the APY is tiered. Depending on the balance, the APY for U.S. Bank Premium Checking as of June 2021 ranges from 0.01% to 0.05%.
While certain of U.S. Bank’s products, including checking accounts, allow for online account setup, fast approval is not always guaranteed. Before approving the account, the bank may need to check the application and confirm the customer’s identity and financial details. The bank may occasionally ask the customer for more paperwork or details.
Is it possible to open a business bank account online? Yes, U.S. Bank provides online account opening for its checking accounts and other commercial banking services. Customers can fill out the necessary paperwork and information when applying for a business checking account online. Before approving the account, the bank may need to analyze the application and confirm the identity and financial details of the company.
Millions of small business clients around the country are served by U.S. Bank. By 2021, the bank will have served over 300,000 small businesses with annual sales of up to $10 million. A variety of business banking products and services are provided by the bank, including checking and savings accounts, credit cards, loans, and lines of credit.
In conclusion, clients who maintain a minimum balance or have a combined balance across all of their U.S. Bank accounts are eligible for a variety of benefits and features from the U.S. Bank Premium Checking account. The account also provides lower rates on loans and free ATM transactions, and the APY is tiered and dependent on balance. U.S. Bank does allow online account opening, however the bank may need to check the application and confirm the customer’s details before it can guarantee fast approval. For its millions of small business clients nationwide, U.S. Bank also provides business banking products and services.