U.S. Bank: Earn $500 When You Open a Business Checking and Deposit $3k

Also don't touch their payment processing (Elavon) no matter how much bonus they offered. These are a bunch of crooks who will end the relationship for no reason (and you signed the papers allowing them to do that and not give you ANY reason) and not give you the bonus if they did it in the first 3 months.

I was also stuck paying $55 for their mandatory POS (card reader) that I never got to use, without the promised bonus to cover it. They also don't tell you on sign up that they'll withdraw the funds from your bank account and hold it for 90 days to preemptively guard against charge backs (i.e. whatever the credit card payment you received they deduct it ALL from your bank account without warning) when the relationship was unilaterally terminated by them. They are treating their merchants as if they are scammers. This tyrant policy must be buried in some fine prints that I didn't expect.

Also, when they unilaterally terminate the relationship, it's just a email drop and they deducted ALL paid out funds from your bank account on the same day without mentioning it in the email or have the courtesy to give you a call. The way they did is is also shady AF as they divided the total of the paid out funds they want to confiscate in 10 transactions so they will have the best chance to drain your bank account if the balance is not enough to cover it. You have to check the online banking yourself to realize that they did this shit to you. The item description is also vague and I ran to 2 branches at the end of the day and couldn't get a straight answer of WTF was that for.

The first guy told me that it must be a system update when they merge with Union Bank (turns out it's not. US Bank meant to rob you). My account manager was telling me a that 'most often their customers who ran into this are not completely honest' so they are not telling me anything or any reason in case if there's an investigation.

I've never been treated by any business like this ever. Feels like it's a bank in the ghetto. When you sign up, the account manager keep talking about building a relationship over and over as if you are interviewing for a job or a boss giving you a pep talk. When they close your account, they talk down to you as if you are their employee.

They are as 3rd world as Communist China that they can take away your money at any time at their whims without warning and they don't need to (and will not) give you any reason. I called the 'loss prevention' department that terminated the relationship and held my money and the operator basically said you might want to get in line as there're lots of people trying to get their money back. So they are aware that this is a common practice in US bank. The guy who sign you up might tell you that it's rare, but it's not. There's not a word about confiscating your payouts when they terminate the relationship unilaterally with no reason (and no, I don't have any chargebacks. My customers got what they wanted and are happy with it before they paid the invoices with their credit cards).

I bet with this kind of policy, they can cancel you at the click of a mouse button. Absolutely NEVER do business with US Bank or Elavon. Elavon is totally owned by US Bank so they totally owned up to it for how they treat their customers. The people in the US Bank headquarters has no ethics or decency no matter how nice the people at the branches are as they have ZERO power.

It's not US Bank, it's USSA Bank. It's a tyЯant bank. They are trashy AF. It's a matter of time before they end up with another class action lawsuit. I wouldn't patronize them even if Putin took over the world and conquered US and made me sign up for US bank at gunpoint.

From the comments I'm reading here does U.S. Bank suck overall even with just day to day general banking activities i.e just opening a simple personal checking and savings account?

Or do they suck at handling "business" checking accounts and promotions like this?

>>>Anyone can answer this

From the comments I'm reading here does U.S. Bank suck overall even with just day to day general banking activities i.e just opening a simple personal checking and savings account?

Or do they suck at handling "business" checking accounts and promotions like this?

>>>Anyone can answer this

Is it likely that they'll ask for business documents if I use SSN as EIN? They say they might.

The CFBP announced Thursday that it fined U.S. Bank $37.5 million, after a five-year investigation. "For over a decade, U.S. Bank knew its employees were taking advantage of its customers by misappropriating consumer data to create fictitious accounts," said CFPB Director Rohit Chopra in a press release.Jul 30, 2022

I'm not that person, but for me they locked me out of the online account. The only way to rest it is with a PIN. My debit card PIN did not work.

After multiple visits to the branch with all my documentation, the debit card, etc, they said they would (physically)mail me a pin to get back in.
I never got that pin. My tax payment to the IRS bounced despite the balance being available in the account.

US Bank, never again. Not even for $500.

Sounds like a you issue. If you didn't forget your pin then the tax payment wouldn't have bounced

Nothing here either. I also took advantage of the personal checking promo last year, when I opened this business account I was using the same log in. apparently, you need a separate log for business accounts.

Anyhow, the rep I talked to at that time also shared that the promo can take an additional 4 -6 weeks after the 60 days...so it May still be a while.. dont know how accurate that is, just thought I'd share

I'll. Update as soon as I get the bonus .