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U.S. Bank Silver Business Checking Review: A Good Choice for Businesses That Want to Save Money on Banking

Review Updated
Matt Frankel, CFP®
Author: Matt Frankel, CFP®
Matt Frankel, CFP®
Matt Frankel, CFP®
Writer, Analyst

Matt is a Certified Financial Planner™ and investment advisor based in Columbia, South Carolina. He writes personal finance and investment advice for Motley Fool Money and its parent company The Motley Fool, with more than 4,500 published articles and a 2017 SABEW Best in Business award. Matt writes a weekly investment column for the Motley Fool ("Ask a Fool") that is syndicated in USA Today, and his work with Motley Fool Money has also been syndicated to MSN and Yahoo! Finance. He has been regularly featured on Fox Business and many other major outlets. He’s a graduate of the University of South Carolina and Nova Southeastern University, and holds a graduate certificate in financial planning from Florida State University.

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Ashley Maready
Fact Checked: Ashley Maready
Ashley Maready
Ashley Maready
Writer and Editor

Ashley Maready is a former history museum professional who made the leap to digital content writing and editing in 2021. She has a BA in History and Philosophy from Hood College and an MA in Applied History from Shippensburg University. Ashley loves creating content for the public and learning new things so she can teach others, whether it's information about salt mining, canal mules, or personal finance.

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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. Terms may apply to offers listed on this page. APY = Annual Percentage Yield. APYs are subject to change at any time without notice.

The U.S. Bank Silver Business Checking account could be a great fit for people who don't want to pay any monthly fees. It offers a low deposit requirement and a number of free transactions each month, but it does have a few drawbacks. Read our full review to discover if the U.S. Bank Silver Business Checking account could be the right business checking account for you.

U.S. Bank Silver Business Checking
Open Account for U.S. Bank Silver Business Checking

On U.S. Bank's Secure Website.

Member FDIC.

Ratings Methodology
Rates as of Dec 20, 2024

U.S. Bank Silver Business Checking

Open Account for U.S. Bank Silver Business Checking

On U.S. Bank's Secure Website.

Member FDIC.
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Open Account for U.S. Bank Silver Business Checking

On U.S. Bank's Secure Website.

$500 bonus for Silver Business Checking
Earn a $500 bonus when you open a Silver Business Checking Account online with promo code Q1AFL25 and complete qualifying activities, subject to certain terms and limitations. Offer valid through March 31, 2025. Member FDIC.
APY
0%
Min. To Earn APY
N/A
  • No monthly fees
  • 125 free monthly transactions
  • Discounted checks
  • Low minimum deposit
  • Large branch and ATM network
  • Card payment processing and cash management services available
  • Not interest-bearing
  • Can be costly for businesses with high transaction volumes
  • Transaction limits

The U.S. Bank Silver Business Checking account is a good fit for small business owners who aren't ready to pay for a business checking account. Its feature list may not be as robust as some of its competitors, but it comes with all the tools you need to manage your funds as well as a decent number of free monthly transactions.

U.S. Bank Business Checking Special Offer Disclosure

Promo code Q1AFL25 MUST be used when opening a U.S. Bank Silver, Platinum, or Business Essentials Business Checking account. Limit of one bonus per business. A $100 minimum deposit is required to open one of the referenced accounts. Business Essentials is not available in all markets; contact a banker for more details.

Bonus Options
• Earn your $500 Business Checking bonus by opening a new U.S. Bank Silver Business Checking or Business Essentials account between 1/16/2025 and 3/31/2025. You must make deposit(s) of at least $5,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $5,000 until the 60th day after account opening. You must also complete 5 qualifying transactions within 60 days of account opening.
or
• Earn your $900 Business Checking bonus by opening a new U.S. Bank Platinum Business Checking account between 1/16/2025 and 3/31/2025. You must make deposit(s) of at least $25,000 in new money within 30 days of account opening and thereafter maintain a daily balance of at least $25,000 until the 60th day after account opening. You must also complete 5 qualifying transactions within 60 days of account opening.

Qualifying transactions include debit card purchases, ACH credits, Wire Transfer credits and debits, Zelle credits and debits, U.S. Bank Mobile Check Deposit or Bill Pay. Other transactions such as (but not limited to) other Person to Person payments, transfers to credit card or transfers between U.S. Bank accounts are not eligible.

New money is considered money that is new to U.S. Bank. Funds must come from outside U.S. Bank and cannot be transferred from another U.S. Bank product or a U.S. Bank Affiliate. For accounts opened on non-business days, weekends or federal holidays, the open date is considered the next business day. Account fees (e.g., monthly maintenance, paper statement fee, etc.) could reduce the qualifying daily balance, therefore you must make deposit(s) to cover the fees to maintain the daily balance during the qualifying period to be awarded the bonus. Refer to the Business Pricing Information or Business Essentials® Pricing Information Document for a list of fees.

Bonus will be deposited into your new eligible U.S. Bank Business Checking account within 30 days following the last calendar day of the month you complete all of the offer requirements, as long as the account is open and has a positive available balance.

Offer may not be combined with any other business checking account bonus offers. Existing customers (businesses) with a business checking account or customers (businesses) who had an account in the last 12 months, do not qualify.

All regular account-opening procedures apply. For a comprehensive list of checking account pricing, terms and policies, reference your Business Pricing Information or Business Essentials® Pricing Information and YDAA disclosure. These documents can be obtained by contacting a U.S. Bank branch or calling 800.872.2657.

Bonus will be reported as interest earned on IRS Form 1099-INT and recipient is responsible for any applicable taxes. Current U.S. Bank employees are not eligible. U.S. Bank reserves the right to withdraw this offer at any time without notice.

Member FDIC.

Alternate business checking options to consider

Here are some of our top picks for other business checking accounts that offer a good mix of features and customer support.

Rates as of Dec 20, 2024
Offer
 
 
Account
Axos Basic Business Checking

On Axos Bank's Secure Website.

Bluevine Business Checking

On Bluevine's Secure Website.

Rating
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Rating image, 4.00 out of 5 stars.
4.00/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
APY 0% up to 4.00% Rate info Circle with letter I in it. Bluevine Premier customers will earn 4.00% APY; Premier subscriptions cost $95 per month. Bluevine Standard customers will earn 1.5% interest on total balances up to and including $250,000 only if they spend $500 or more on their debit card or receive $2,500 or more in customer payments each month. No interest earned on balances over $250,000.
Min. to earn APY — $0
Next Steps
Open Account for Axos Basic Business Checking
Open Account for Bluevine Business Checking

* Axos Basic Business Checking

*To be eligible to earn all or a portion of the cash incentive as part of the promotional offer "NEW400," an application for a Basic Business Checking account or a Business Interest Checking account must be submitted between 01/30/2023 at 12:00 am PT and 1/31/2025 at 11:59 pm PT. Axos Bank reserves the right to limit each primary account holder or business title to one (1) checking account promotional offer per year. Axos Bank or Axos Bank for Nationwide checking customers or Businesses that have held an Axos Bank or UFB or Axos Bank for Nationwide checking or savings account in the past 12 months under the same title are not eligible for this offer. Promotional terms and conditions are subject to change or removal without notice. Incentive may be taxable and reported on IRS Form 1099-MISC. Consult your tax advisor. After initial requirements above are met, the amount of incentive earned will depend on meeting the additional requirements outlined below:

Small Business Checking bonus up to $400: You must be approved for your new Basic Business Checking or Business Interest Checking account and fund it within 30 days of account opening. An incentive of up to $400 can be earned during the first five (5) statement cycles. A statement cycle is a calendar month consisting of at least one day your account was open during that month. You can earn a maximum of four (4) payouts during the five (5) statement cycles, and the incentive will be deposited into the qualifying account within 10 business days following the end of the statement cycle in which the balance requirement was met.

  • $75 will be earned for each statement cycle, up to $300 when you meet three requirements: 1) the average daily balance in your Basic Business Checking account or Business Interest Checking Account is between $25,000 and $49,999.99, 2) you have completed ten (10) point-of-sale transactions per month using your Small Business Checking Visa® Debit Card for signature-based purchases with a minimum of $3 per transaction, 3) You must also have bill pay set up and connected to your Basic Business Checking account or Business Interest Checking account. The bill pay transaction minimum is $10.
  • $100 will be earned for each statement cycle, up to $400 when you meet three requirements : 1) the average daily balance in your Basic Business Checking account or Business Interest Checking Account is greater than $50,000, 2) you have completed ten (10) point-of-sale transactions per month using your Small Business Checking Visa® Debit Card for signature-based purchases with a minimum of $3 per transaction, 3) You must also have bill pay set up and connected to your Basic Business Checking account or Business Interest Checking account. The bill pay transaction minimum is $10.

Your Small Business Checking account must remain open and in good standing at the time the incentive is paid to be eligible. Furthermore, your Small Business Checking account must remain open for 150 days, or an early closure fee of up to $400 may apply.

Full U.S. Bank Silver Business Checking account review

There is no such thing as a business checking account that is perfect for everyone, and the U.S. Bank Silver Business Checking account isn't an exception. So, here's a list of the pros and cons of the account to help decide if it's right for you.

Top perks

No monthly fees: Unlike many small business bank accounts, the U.S. Bank Silver Business Checking account doesn't have any monthly fees. Many competitor banks have monthly maintenance fees that can be avoided when account holders meet certain requirements, but the U.S. Bank Silver Business Checking account has none whatsoever.

125 free transactions: The U.S. Bank Silver Business Checking account allows 125 total free transactions per month, and as many as 25 of them (or $2,500) can be cash deposits into the account. In a nutshell, the U.S. Bank Silver Business Checking account is designed so that businesses without high transaction volume can have a free checking account.

Discount on checks: Account owners get 50% off of their first order of checks, up to a maximum discount of $50.

Low minimum deposit requirement: The U.S. Bank Silver Business Checking account has a low $100 minimum opening deposit requirement, which is extremely low compared to some other popular business checking accounts.

What could be improved

Transaction limitations: For many small businesses, the limit of 125 total transactions and 25 cash deposits isn't a big deal, but for others, it could be a deal breaker. After reaching the monthly limit of 125 transactions, any additional transactions (deposits, debits, checks, etc.) will be assessed a $0.50 fee for each transaction. As you can imagine, for businesses who need to use their debit cards frequently or need to deposit cash several times a day, this can add up quickly.

Doesn't pay interest: To be fair, most small business checking accounts don't pay interest. But there are some that do, and the U.S. Bank Silver Business Checking account isn't one of them.

In addition to discussing these pros and cons, it's also important to mention that U.S. Bank offers three different U.S. Bank business checking accounts. The U.S. Bank Gold Business Checking account has significantly higher free transaction limits, and has a $20 monthly fee that can be waived when certain criteria are met. The U.S. Bank Platinum Business Checking account offers even more free transactions and is designed for high-volume, high-balance business customers. It has a $30 monthly fee that can be waived with certain balance or deposit criteria.

U.S. Bank Business Banking Customer Service

There are several ways for customers to contact U.S. Bank's business banking support. In addition to in-person customer service at the more than 2,200 branches in 26 states, customers can also call the bank's Business Service Center at 800-872-2657 from 8 a.m. to 8 p.m. CT on weekdays, and from 8 a.m. to 6:30 p.m. CT on Saturdays.

Fees

The Silver Business Checking account is designed to have a low-fee, straightforward pricing structure. It has no monthly maintenance fees, 125 free transactions per statement cycle, and up to $2,500 of cash deposits or 25 cash transactions per statement cycle, whichever comes first. For each additional transaction beyond 125, there is a $0.50 fee, and there's also a $0.33 fee per "unit" of additional cash deposits (in most cases, each unit represents a $100 cash deposit).

Fees Monthly Maintenance ATM Withdrawal Overdraft Stop Payment Insufficient Funds
U.S. Bank Silver Business Checking $0 $0 (in-network), $2.50 (out-of-network) $36.00, but overdraft protection available $35 $36 (returned item fee)
Data source: U.S. Bank.

What everyone else is saying

Many of our competitors have reviewed the U.S. Bank Silver Business Checking Account. The only other star-based review we found gives the bank 4.0 out of five stars, and reviews highlight the no monthly maintenance fee and shared access for employees as positive factors, with the fees for exceeding transaction and deposit limits cited as negatives.

How to access your money

U.S. Bank is a large, branch-based financial institution, so the available options for accessing and depositing money are a strength.

Deposit options

There are several ways you can add money to your U.S. Bank Silver Business Checking account. In addition to depositing cash in a U.S. Bank branch or through an ATM, you can deposit checks to the account, transfer money from internal or external bank accounts, or wire money. U.S. Bank also offers a range of card payment solutions for businesses, which can direct money from customer transactions to your account.

Withdrawal options

You can withdraw cash in person or from an ATM with the U.S. Bank Silver Business Checking account. You can write checks, and you can move money between linked internal and external accounts.

How to get started and sign up for a U.S. Bank Silver Business Checking Account

You can apply for a U.S. Bank Silver Business Checking Account entirely online, and there's some information you should gather first. You'll need your personal information, such as your Social Security number, your business' tax ID, and personal information of all individuals who own more than 25% of the business (if applicable).

When opening an account, you'll need to deposit at least $100. This can be done in person at a U.S. Bank branch, at one of the bank's ATMs, or by using mobile check deposit on the U.S. Bank mobile app. You can also wire money into the account or link an existing bank account you have to transfer money online. Branch and ATM access are also commonly mentioned as a benefit.

U.S. Bank Silver Business Checking is right for you if:

The U.S. Bank Silver Business Checking account could be a great fit if you're looking for a no-fee checking account for your small business. However, be sure that you can live with the monthly transaction limit, as the cost of excess transactions could add up quickly.

If this isn't the right checking account for you, check out our full list of the Best Business Checking Accounts.

Keep reading about U.S. Bank

Our checking account methodology

At Motley Fool Money, checking accounts are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and fees. Our highest-rated banking products generally include competitive APYs without complex qualification tiers, low to no fees, and ease of use. See our full Ratings Methodology here.

    • https://www.usbank.com/business-banking/business-bank-accounts/business-checking/silver-business-checking-account-package.html
    • https://www.usbank.com/business-banking/business-bank-accounts/business-checking/compare-checking-accounts.html
    • https://www.usbank.com/business-banking/customer-service.html
      https://www.forbes.com/advisor/banking/checking/us-bank-silver-business-checking-review/
    • https://www.businessinsider.com/personal-finance/us-bank-business-checking-review
    • https://www.nerdwallet.com/reviews/small-business/us-bank-business-checking

FAQs

  • The U.S. Bank Silver Business Checking account is designed for newer or smaller businesses that don't maintain high account balances and/or don't need to make more than 125 transactions per month in their accounts. There are two other tiers of business checking accounts offered by U.S. Bank that could better meet the needs of larger businesses.

  • The U.S. Bank Gold Business Checking account is the mid-tier product offered by the bank, offering 300 free transactions per statement cycle and a $20 monthly fee after meeting certain requirements. The U.S. Bank Platinum Business Checking account offers 500 free transactions per month and is designed for businesses that maintain higher balances and need to use their accounts often.

  • One of the most obvious things to look for is no monthly maintenance fee, or at least an easy way to get it waived. You also want to make sure your account allows you to make enough transactions to support your business, as many business checking accounts have transaction limits.