U.S. Bank Silver Business Checking Package is a noninterest checking account that has no monthly fees. It offers remote check deposits as well as 125 free transactions and 25 free cash deposits per statement cycle. It is best for startups and small businesses with limited transactions.
U.S. Bank Silver Business Checking Package Pros & Cons
No monthly fee
No interest on balances
Free mobile check deposits
Limited free transactions and cash deposits
50% discount on first check order up to $50
Who U.S. Bank Silver Business Checking Package Is Best For
- Businesses with limited transactions: U.S. Bank Silver Business Checking Package is best for startups and small businesses that don’t have more than 125 combined transactions and 25 cash deposits per statement cycle.
U.S. Bank Silver Business Checking Package Fees
Minimum Opening Deposit
Minimum Balance Requirement to Avoid the Monthly Fee
Free for the first 125 transactions, then 50 cents per item
Wire Transfer Fee
Incoming: $14 to $15
Outgoing: $35 to $70
Cash Deposit Fee
It allows up to 25 free cash deposits
(contact U.S. Bank for fees thereafter)
$36 for each overdraft item
No fee at U.S. Bank ATMs
Non-U.S. Bank ATM owners may apply a surcharge fee
U.S. Bank Silver Business Checking Package has no monthly maintenance fee. It charges 50 cents per item after the 125 free transactions and allows up to 25 free cash deposits per statement cycle. There is no ATM fee for using Bank of America ATMs. You can use your U.S. Bank Visa® debit card for free at U.S. Bank ATMs. However, non-U.S. Bank ATM owners may apply a surcharge fee unless they participate in the MoneyPass® Network.
U.S. Bank Silver Business Checking Package Features and Perks
Remote Check Deposit
U.S. Bank Silver Business Checking Package allows you to deposit checks anytime using the camera on your mobile device. The U.S. Bank Mobile App can securely deposit checks in seconds anytime, anywhere in the United States. This helps you save time by skipping trips to the bank and improve cash flow.
Online & Mobile Banking With Bill Pay
U.S. Bank online banking allows you to manage check, wire, and automated clearing house (ACH) accounts with SinglePoint® Essentials confidently, which is a tool that provides easy access to all of your U.S. Bank cash management services. You will also have secure, controlled access through cash-scanning technology, automated deposit processing and tracking services, and on-the-go tools from your mobile devices.
Check Fraud Prevention
U.S. Bank helps minimize the risk of fraud with its Payment Card Industry (PCI) Data Security Standard compliance, which is key to cardholder data security, and check-fraud prevention tools. It allows you to convert checks into electronic payments at the point of sale and reduce check fraud with instant check verification services. U.S. Bank also offers fraud control for issued checks, including lost or stolen checks, altered payee names, and counterfeit checks.
Card Payment Processing
With U.S. Bank Silver Business Checking Package, you can accept payments in person, online, and on-the-go. It also offers flexible, secure, and innovative payment options to make it easy for you to accept credit, debit, and electronic gift cards.
With the U.S. Bank Silver Business Checking Package, you will get a U.S. Bank Visa® debit card that you can use for free U.S. Bank ATMs.
U.S. Bank Silver Business Checking Package Alternatives 2020
Business owners with no more than 100 monthly transactions and $5,000 deposits per month
Business owners who want to avoid all transaction fees and live near a Capital One branch
Businesses with a low number of transactions
$15; waived if you have a minimum daily balance of $1,500 or you maintain a linked Chase Private Client Checking or Chase Sapphire Checking personal account
$15; waived if you maintain a $2,000 minimum 30- or 90-day average balance or if you have two other Capital One accounts
$14 to $18; waived if you have a minimum of $5,000 average monthly balance or a minimum of $3,000 daily balance
Minimum Opening Deposit
Cash Deposit Fee
First $5,000 free, then $2.50 per $1,000
Free up to $5,000 per month, then $1 for every $1,000 after that
First $7,500 free, then 30 cents for every $100
First 100 free, then 40 cents per item transaction after 100 transactions per month
Unlimited free transactions
First 200 transactions free, then 45 cents per item after 200 transactions per month
$2.50 per transaction at any non-Chase ATM in addition to ATM operator fees
None on more than 39,000 Allpoint ATMs nationwide
None from Bank of America ATMs;
$2.50 to $5 for non-Bank of America ATMs
Most Helpful U.S. Bank Reviews
Most U.S. Bank reviews available online consist of both positive and negative ratings. Customers who left positive reviews are happy with U.S. Bank’s reliable customer service and online banking tools. Clients who left negative reviews expressed disappointment because of the bank’s high fees.
Great customer service
One client who left a positive review on Consumer Affairs is happy because U.S. Bank provides her with great customer service. According to her, whenever she has questions, she can contact them easily and get her concerns answered right away. She also likes the online banking tools that come with U.S. Bank accounts.
A client who left a negative review of U.S. Bank on Trustpilot is disappointed with the fees it deducts monthly and for every local or international transaction. He added that there is also a charge if you request a PDF statement to be sent via email.
U.S. Bank Silver Business Checking Package Frequently Asked Questions (FAQs)
What documents do I need to open a U.S. Bank Silver Business Checking Package?
To open a U.S. Bank Silver Business Checking Package, you should have the following documents ready:
- Your business’s employer identification number (EIN) or tax ID number (sole proprietors can use their Social Security number)
- Articles of Incorporation, Articles of Organization, or a charter or a similar legal document that indicates when your company was formed (not required for sole proprietors)
- Government-issued photo ID and Social Security number for you and anyone else authorized to sign checks or make transactions on behalf of your organization
How does mobile check deposit work?
Mobile check deposit lets you deposit checks into your U.S. Bank account using the camera on your mobile device. Below is the process:
- Sign your check.
- Choose an account.
- Enter your check amount.
- Take photos of the front and back.
- Review and submit.
What should I do with my check after I deposited it?
U.S. Bank recommends that you hold on to your paper check for at least two business days after you deposit it in case that they will need more details from you.
U.S. Bank Silver Business Checking Package is a good option for startups and small businesses with a limited number of transactions. It offers no monthly fee, 125 free transactions, and 25 free cash deposits per statement cycle. It comes with a U.S. Bank Visa® debit card and can be accessed through online and mobile banking. It’s important to note that the U.S. Bank Silver Business Checking Package does not offer interest on account balances.
If you are still not sure if the U.S. Bank Silver Business Checking Package is right for you, then our article about the best small business checking account is a review of our top choices. In this guide, we looked at a variety of checking accounts based on features—like monthly fees and transaction fees, opportunities to earn an introductory offer, the size of the banks’ network, as well additional services they offer.