They've been good to me.
Written: Oct 03 '06 (Updated Oct 03 '06)
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Product Rating:
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Pros: Cash back debit card, negative balance repayment program and checking account advance
Cons: No stand alone branches, they use available balance when clearing items
The Bottom Line: I think U.S. Bank has made some good changes, they're there to help you.
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| kgate1024's Full Review: U.S. Bancorp |
U.S. Bank has been good to me. They opened an account for me when my former employer (a bank) where I had my account put me on ChexSystems for bogus reasons, I don’t even owe them any money! But I digress, U.S. Bank opened an account for me with no questions asked.
Banking with U.S. Bank is pretty painless if you have direct deposit but if you have to visit the bank frequently you might experience a wait every now and then. That is due to the fact that stand alone branches, at least in Columbus, Ohio are few and far between. You have to go to your local Giant Eagle or Meijer to do your banking. Their tellers also open new accounts so if both tellers (yes, only 2 tellers, sometimes 3 if the branch has a little side desk) are opening new accounts you could be waiting awhile. I’ve never had this happen though, usually one teller will be opening an account and the other will be helping customers.
They also go by your “available” balance when determining what items will clear your account. Now I’ve had overdrafts, I’m sure a lot of you reading this have too. We’re all human. But the thing that bugs me is that even if your hard balance is positive, if your available balance goes negative you get hit with an overdraft fee, doesn’t make a lot of sense especially if you’ve been to a restaurant or something and they’ve authorized your card for your bill plus tip, it could differ from the amount that will actually clear. I guess this is where they make their money on people that end up screwing them over because they did do something to warrant being on ChexSystems.
So on to the good points. U.S. Bank offers a cash back debit card that pays you cash for using your debit card (as a credit card, not with PIN) that you can redeem anytime online when your reward reaches at least $5, it’s an instant deposit into your account.
I was unemployed about a year ago and ran into some trouble with my account, it went into the negative and there was nothing I could do. I received a letter one day offering a repayment plan on my negative balance. They would bring my balance back to 0 and split up the amount I owed over 6 months so that I would still have use of my account. The repayment plan is interest free. I was able to pay back my negative balance and still have use of my account.
Now they have something new, it is called checking account advance where you can request an advance of up to $500 (depending on the limit they’ve given you) and when your next direct deposit hits the money that you’ve advanced is taken out. Kind of like a payday advance but the fee isn’t as steep, they charge $1 for every $10 advanced. It’s a nice safety feature if you ask me, if you know you’re going to overdraft just request an advance. A lot better than getting hit with an overdraft fee!
Their website is great too, bill pay is now free and your transactions are in real time. You can see your pending debit card transactions the amount and place of purchase. Also deposits
Aside from the things mentioned above I feel U.S. Bank is a good bank.
Recommended:
Yes
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Epinions.com ID:
kgate1024
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Reviews written: 30
Trusted by: 2 members
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