Please ensure Javascript is enabled for purposes of website accessibility

This device is too small

If you're on a Galaxy Fold, consider unfolding your phone or viewing it in full screen to best optimize your experience.

Skip to main content
Advertiser Disclosure Many of the offers that appear on this site are from companies from which The Motley Fool receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear) and may influence which products we write about, but our product ratings are not influenced by compensation. We do not include all companies or offers available in the marketplace.
    |    Accessibility Options

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

Review Updated
Steven Porrello
Author: Steven Porrello
Steven Porrello
Steven Porrello
Writer

Steven is a personal finance writer covering topics from mortgages to credit cards to market news. He has written for The Motley Fool Canada, Ramsey Solutions, Nerdwallet, Clever Real Estate, and other major outlets. Steven launched his writing career at the age of four with his first book, "Revenge of the Bad Guys." He currently lives in Portland, Oregon.

See Full Bio

| 1 other [ + ]
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.

See Full Bio

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.

Bottom line: Chase is better for its higher CD rates and larger network of banks, while U.S. Bank has lower monthly fees on its savings and checking accounts.

Chase vs. U.S. Bank: Account options

Checking accounts

Chase and U.S. Bank both offer standard personal checking accounts. The Bank Smartly® Checking has a waivable $6.95 monthly fee, a $25 minimum opening deposit, and overdraft protection.

Likewise, the Chase Total Checking® has a waivable $12 monthly service fee, no minimum opening deposit, and overdraft assistance. Between the two, U.S. Bank's checking account is both cheaper and comes with more ways to waive the fee, including being 24 and under, 65 or older, or a member of the military.

Chase and U.S. Bank each offer a variety of student and business checking accounts as well.

Rates as of Dec 20, 2024
Offer
 
 
Account
Chase Total Checking®

On Chase's Secure Website.

Rating
Rating image, 3.50 out of 5 stars.
3.50/5 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, 3.50 out of 5 stars.
3.50/5 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% Undisclosed
Min. to earn APY — $0.01
Next Steps
Open Account for Chase Total Checking®
Read Review

* Chase Total Checking®


*With Chase Overdraft Assist℠, we won't charge an Overdraft Fee if you're overdrawn by $50 or less at the end of the business day OR if you're overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.

**Monthly service fee is $12, or $0 with one of the following, each monthly statement period:

  • Electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment or FedNowSM network, (iii) third party services that facilitate payments to your debit card using the Visa® or Mastercard® network,
  • OR a balance at the beginning of each day of $1,500 or more in this account,
  • OR an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings, and other balances.

You'll find a variety of account options with both Chase and U.S. Bank.

Savings accounts

Chase and U.S. Bank both offer a basic savings account, the Bank Smartly® Savings Account and Chase Savings℠. The two accounts have the same monthly maintenance fee -- $5 for Bank Smartly® Savings Account and for Chase Savings℠. But Bank Smartly® Savings Account also has a $25 minimum opening deposit, whereas the Chase has none.

Both accounts give you multiple ways to waive the fee, such as maintaining a daily balance of $300. Neither account has a competitive APY, at least not in respect to high-yield savings accounts.

Rates as of Dec 20, 2024
Offer
 
 
Account
Rating
Rating image, 2.50 out of 5 stars.
2.50/5 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 0.01% up to 3.50% Rate info Circle with letter I in it. Earn up to 3.50% APY when you pair a new Bank Smartly® Savings account with a Bank Smartly® Checking or Safe Debit account and combined qualifying balances and Bank Smartly® Savings balances of at least $25,000.
Min. to earn APY — $25,000
Next Steps
Read Review
Read Review

CDs

Chase and U.S. Bank both offer standard and special CDs with a variety of terms. Between the two, Chase CDs generally have higher rates, but its minimum opening deposit is double U.S. Bank -- $1,000 versus $500. You also need a Chase checking account to snag the best APYs.

In regards to term lengths, Chase also has more to offer its clients. Whereas U.S. Bank has 11 CD terms to choose from (ranging from one to 60 months), Chase has 17 (ranging from one to 120 months). This might make Chase a better choice for those looking to build a long and more varied CD ladder.

Rates as of Dec. 18, 2024

APY = Annual Percentage Yield

Offer
Logo for Chase Standard CD
Member FDIC.
Logo for U.S. Bank Standard CD
Member FDIC.
Account Chase Standard CD U.S. Bank Standard CD
3 Mo. up to 4.75% --
6 Mo. 3.00% 0.05%
9 Mo. up to 4.50% 0.05%
1 Yr. 2.00% 0.05%
1.5 Yr. 2.50% 0.05%
2 Yr. 2.50% 0.05%
3 Yr. 2.50% 0.10%
4 Yr. 2.50% 0.15%
5 Yr. 2.50% 0.25%
Min. Deposit $1,000 $500
Early Withdrawal Penalty Yes Yes
Next Steps
Read Review
Read Review

Chase vs. U.S. Bank: APYs

Chase generally has higher APYs for its CDs, though it doesn't have a savings account to compete with the U.S. Bank Elite Money Market Account.

As far as Chase CD APYs go, the bank's standard, non-relationship rates are pretty abysmal, coming in at just 0.01% for every term. It does, however, offer decent APYs for a few terms that it dubs "relationship rates," meaning for customers with a linked Chase personal checking account. As rates can change at any time, it's best to check Chase's website for its current rate sheet showing available relationship rates.

U.S. Bank generally offers rates between 0.05% and 0.25%, though occasionally you'll find special CDs with competitive rates.

Although most U.S. Bank CD rates are not on par with Chase CDs, the U.S. Bank Elite Money Market Account has a decently competitive APY of up to 3.50% when you maintain a $25,000 deposit. This ranks it among some of the top money market accounts in terms of APY. Chase doesn't currently have a money market account or high-yield savings account to compete with this.

Compare savings rates

Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.

Account APY Promotion Next Steps
3.80%
Rate info Circle with letter I in it. 3.80% annual percentage yield as of December 27, 2024. Terms apply.
Min. to earn: $0
N/A
Open Account for American Express® High Yield Savings

On American Express's Secure Website.

up to 4.00%²
Rate info Circle with letter I in it. You can earn the maximum APY by having Direct Deposit (no minimum amount required) or by making $5,000 or more in Qualifying Deposits every 30 days. See SoFi Checking and Savings rate sheet at: https://www.sofi.com/legal/banking-rate-sheet.
Min. to earn: $0
New customers can earn up to a $300 bonus with qualifying direct deposits!¹
3.80%
Rate info Circle with letter I in it. See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of Dec. 6, 2024. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
N/A

Chase vs. U.S. Bank: Customer service

Chase and U.S. Bank are neck in neck in customer service reviews. Chase has a slight edge in that it ranked higher on the J.D. Power 2023 National Banking Satisfaction Study, which gave it a score of 674, significantly higher than the study's average of 653. U.S. Bank had a score of 652, below the study's average along with several other big national banks.

On the Better Business Bureau, Chase has an A+, while U.S. Bank's rating is currently under review ("NR"). They both share a "bad" rating on Trustpilot (1.3 stars) and roughly one star on their BBB profiles.

Chase vs. U.S. Bank: Mobile apps

Both banks have highly rated mobile apps with similar banking features and tools. They both let you deposit mobile checks, give you personalized insights to your spending, and let you link external accounts to get a full picture of your personal finances. Both apps also let you send and request money with Zelle and also let you access and monitor your credit score.

Chase's app has a collective 4.6 stars on both the Apple App Store and Google Play, while U.S. Bank has a slightly higher collective rating of 4.75 stars across both.

Chase vs. U.S. Bank: Which is right for you?

If you're looking for the cheapest savings or checking account from a big national bank, U.S. Bank might be right for you. The bank also gives you plenty of ways to waive fees, including holding a U.S. Bank credit card or being a member of the military.

Chase, on the other hand, has the largest branch network in the U.S. with over 4,700 branches in 48 states. It also has more CD terms and generally higher rates. While the fees on its savings and checking accounts are slightly higher than U.S. Bank, it does offer numerous ways to waive them.

Rates as of Dec 20, 2024

Bank Smartly® Checking

Read Review
Member FDIC.
Rating image, 3.50 out of 5 stars.
3.50/5 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, 3.50 out of 5 stars.
3.50/5 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
Read Review
APY
Undisclosed
Min. To Earn APY
$0.01
  • Advanced digital banking tools for budgeting and financial goals
  • 24/7 customer support
  • Branch access (if you live near one)
  • Overdraft protection and fee forgiveness
  • FDIC insured
  • Balance requirement to waive monthly fee

The Bank Smartly® Checking account has most standard features for a checking account offered by a major bank, including broad ATM access, multiple ways to deposit and withdraw funds, and digital tools for tracking your budget. The account earns interest, but you'll have to contact U.S. Bank to get the latest APYs. There’s a monthly service fee, but there are several ways to have it waived.

Chase Total Checking®

Open Account for Chase Total Checking®

On Chase's Secure Website.

Member FDIC.
Rating image, 3.50 out of 5 stars.
3.50/5 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, 3.50 out of 5 stars.
3.50/5 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 Chase Total Checking®

On Chase's Secure Website.

APY
0%
Min. To Earn APY
N/A
  • Largest bank in the U.S. in terms of assets 
  • More than 15,000 ATMs and 4,700 physical locations
  • Wide range of financial products
  • User-friendly online and mobile banking tools
  • No minimum deposit to open
  • Chase Overdraft Assist
  • Low APYs on savings accounts and CDs
  • $12 monthly maintenance fee waived only with qualifying activity

Chase Total Checking® combines tons of features with superior customer service. It's a safe place to put your money. You can walk into any of thousands of branches and withdraw cash from more than 15,000 ATMs in Chase's network. You can access everything online, too. It's one of the best checking accounts for in-person and over-the-phone customer service.

  • New Chase checking customers enjoy a $300 bonus when you open a Chase Total Checking® account with qualifying activities
  • Access to more than 15,000 Chase ATMs and more than 4,700 branches
  • Chase Mobile® app - Manage your accounts, deposit checks, transfer money and more -- all from your device.
  • JPMorgan Chase Bank, N.A. Member FDIC
  • Open your account online now
  • Available online nationwide except in Alaska, Hawaii and Puerto Rico. For branch locations, visit locator.chase.com.
  • Chase Overdraft Assist℠ – no overdraft fees if you're overdrawn by $50 or less at the end of the business day or if you're overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day*


*With Chase Overdraft Assist℠, we won't charge an Overdraft Fee if you're overdrawn by $50 or less at the end of the business day OR if you're overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.

**Monthly service fee is $12, or $0 with one of the following, each monthly statement period:

  • Electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment or FedNowSM network, (iii) third party services that facilitate payments to your debit card using the Visa® or Mastercard® network,
  • OR a balance at the beginning of each day of $1,500 or more in this account,
  • OR an average beginning day balance of $5,000 or more in any combination of this account and linked qualifying Chase checking, savings, and other balances.
Read Full Review

Our bank and credit union methodology

Our methodology for scoring banks and credit unions revolves around evaluating key aspects such as annual percentage yield (APY), brand reputation, fees and minimum requirements, and additional perks.

These criteria are weighted differently across various account types, ensuring a comprehensive assessment that reflects the competitive landscape and economic conditions.

We strictly feature products that offer federal insurance and high customer satisfaction, keeping our recommendations unbiased by advertiser influence. This robust evaluation process helps us generate balanced, reliable best-of lists that guide consumers to top financial products.

Learn more about how Motley Fool Money rates bank accounts.

FAQs

  • If you're looking for a large national bank with branches across the 48 contiguous U.S. states, Chase might be right for you. It also might be a good fit for those who want an easy way to waive fees on checking and savings accounts, as its requirements are comparatively low.

  • U.S. Bank might be a good choice if you want a low monthly fee on your checking and savings account, plus numerous ways to waive it. Its checking account is also well suited for those who are older than 65, younger than 24, a member of the military, or have a U.S. Bank credit card, as account fees are automatically waived.

    That said, you have to live in one of the states where U.S. Bank operates to open an account (Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Texas, Utah, Washington, Wisconsin, and Wyoming).