Initiating a minor's bank account

Sharing financial duties by opening a joint account with your kid is a great idea. The U S Youth (13–17) can enjoy additional perks with a Bank SmartlyTM Checking account.

Teenagers and their parents can benefit from our collection of resources. Our Financial IQ has a wealth of data that should be useful to both you and your teen.

Disclosures

1. Members of the armed forces (upon verification of status), customers aged 24 and under, and customers aged 65 and up are exempt from the monthly maintenance fee. For everyone else, it can be avoided by fulfilling any of the following conditions: receiving $1,000 or more in direct deposits each month; maintaining an average account balance of $1,500 or more; or holding an eligible U.S. S A valid bank credit card, or status as Primary, Plus, Premium, or Pinnacle member in the bank's Smart RewardsTM program.

   To determine the average account balance for the statement period, add the balances for each day of the period and then divide by the total number of days in the statement period. Additional costs may be incurred.

   Details about pricing for consumers can be found in the disclosure.

2. Amount Paid to Use an ATM   U S Bank will charge you this fee for using an ATM that is not part of U S Bank ATM   Non- U S Bank Automatic Teller Machines are defined as those that do not bear the United States flag. S Display of the bank's logo in any form (whether printed on the machine's faceplate or displayed on the screen)

   Added Fees at ATMs   Non- U S Bank The owners of ATMs are within their rights to impose a surcharge on withdrawals made from their machines. U S Bank is a part of the MoneyPass® network, which allows free use of surcharge-free ATMs MoneyPass ATMs can be found by selecting "Show MoneyPass® ATM Network locations" in the ATM locator. Please call us at 800-USBANKS (872-2657) to request a surcharge refund if you were charged a fee while using a MoneyPass® Network ATM.

3. In the event of a switch in checking account type, the corresponding Foreign S On the first day of the following billing cycle, customers will be able to take advantage of banks' ATM fee waiver programs. Any and all ATM withdrawals made from a U. S Accounts that help you bank smartlyTM

4. If your checking account has a negative Available Balance of $5 and you have linked eligible accounts, the negative balance will be automatically transferred to one of your other accounts A cash advance can transfer in $50 increments if the amount is $50 or more. A negative Available Balance of $5 or less will result in a $5 advance. If your checking account has a negative Available Balance of $50 or less, you won't be charged an Overdraft Protection Transfer Fee.

   Please keep in mind that if your account is overdrawn and you have Overdraft Protection, the Overdraft Protection funds will be used first before any U.S. S Discharge of Overdraft Fee from Bank
   

   For more details about overdraft protection plans, please see the section of Your Deposit Account Agreement entitled Overdraft Protection Plans.
   

5. If your Available Balance is $50 or more at the end of the business day, you will be charged an overdraft fee. The fee for a purchase of $5 or more is $0.01 or more. Each item with a value of $.01 or more may incur an Overdraft Paid Fee. If your Available Balance is overdrawn by $50 at the end of the business day, you'll be charged a fee of $5. If the amount is 0 or less, no charge will be made. U S No matter how many items we pay on your behalf, the bank will only pay a maximum of four Overdraft Paid Fees per day.

6. Fee waivers are available for some types of consumer checking accounts (not including Safe Debit accounts) that have been charged an Overdraft Paid Fee. The period during which your Overdraft Paid Fee(s) will be waived begins on the first day your Available Balance falls below zero and an Overdraft Paid Fee(s) is incurred. U S At the conclusion of the Overdraft Fee Waiver period (11 p. m Overdraft Paid Fee(s) will not be assessed if your Available Balance (not counting Overdraft Paid Fees and including same-day and immediate deposits) is at least $0 at the close of business (midnight ET). Funds deposited via ACH, electronic deposits, cash, wire transfers, and deposits made from U.S.-based ATMs are all eligible for Overdraft Fee Waiver. S Automated Teller Machine transactions, in-branch check deposits, and cross-country wire transfers from another U S In a bank Overdraft Fee Waivers are not available for deposits made via mobile check deposit, deposits that have an extended hold placed on them, or deposits made into new accounts that have been open for less than 30 days, where funds typically become available on the fifth business day after the day of your deposit. For comprehensive information on how funds availability is determined, please see the Your Deposit Account Agreement section titled "Determining the Availability of a Deposit - All Accounts."
   

7. Interest rates on a variable rate account are set by the bank and are subject to change at any time. For up-to-date information on deposit rates, disclosures on rates, compounding and crediting, and other balance information, contact a bank representative.

8. The ending balance of each business day is the same as the beginning balance of that day plus the credits for the day minus the debits for the day. Monday through Friday are considered business days; Saturdays, Sundays, and federal holidays are not.

9. The average monthly collected balance is determined by totaling the principal in the account for each calendar day in the statement period, and then dividing that sum by the total number of calendar days in the statement period.

10. When the minor reaches the age of 18, the account will begin to incur the monthly service charge. In the case that the minor is not already listed as an authorized signer on the account, the custodian or guardian must accompany the minor to the branch in order to give the minor permission to use the account's funds.

11. In Q3 2021, Keynova Group, an organization that provides industry benchmarking, released its Mobile Banker Scorecard. U S Bank Bank with the most downloaded mobile app in the world

12. Those with the best customer service among financial institutions were recognized in Kiplinger's 2021 survey. U S Bank the highest rating for best mortgage digital capabilities in its survey of mortgage lenders

13. According to the results of the 2020 edition of Business Insider Intelligence's annual US Mobile Banking Competitive Edge Study, the U S Bank The mobile app placed first. No.1 in Service-Related Features

14. Cornerstone Advisors evaluated the state of mobile banking in the United States in their 2021 Mobile Deposit Benchmark report. U S Bank On the basis of deposit limits, error prevention, real-time status updates, auto-capture functionality, and other features, the check-deposit function of the mobile app was ranked as the best in the industry for customer experience.  

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