Good morning everyone. Last month, I wrote Cannot Apply for US Bank Checking Account Online with Frozen ARS/IDA Credit Reports, Must Apply In-Branch in which I explained that US Bank was not able to approve my online application for a bank account because I have my ARS and IDA credit reports frozen. Stefan @ Rapid Travel Chai experienced the same issue. After calling US Bank to inquire about the issue, the rep advised me to apply in-branch for the US Bank Power Up Checking Account. The current checking account sign up bonus is $125 after receiving 1 direct deposit of $500 or more and making 2 bill payment transactions in the first month (full details at Doctor of Credit’s website).
After opening my checking account in-branch on July 2, I met the requirements pretty quickly and received the $125 checking account bonus on July 21. If you have a US Bank credit card, the $10.95 monthly fee is waived every month.
While I was opening my checking account in-branch, the personal banker told me about the US Bank START Savings Account which offers a $50 Visa Gift Card after reaching $1,000 in the savings account and making 1 automated transfer from checking to savings.
I played around with the automated transfer option and I think I messed up the transfer so it took a little longer to complete the requirements for the $50 Visa Gift Card. After fixing the automated transfer, the status changed from in progress to completed.
Yesterday, I received my $50 Visa Gift Card for completing the first goal. I am not planning on keeping the money in my savings account, so I will not be eligible for the second goal (receive another $50 Visa Gift Card for keeping at least $1,000 in your savings account for the next 12 months). The entire process of creating a savings account, funding the account, completing the automated transfer, and receiving the VGC took about 1.5 months, but could have definitely been completed faster if I did not mess up the automated transfer.
If you have any questions, please leave a comment below. Have a great day everyone!