US Bank

History of the US Bank or the US Bancorp

The US Bank, what it is now is actually the result of a lot of mergers which has enriched the US Bank in a great way. The US Bank was actually made out of the United States National Bank of Portland. The United States National Bank of Portland was established in Portland, in the state of Oregon in the year 1891. The United States National Bank of Portland changed its name to United States National Bank of Oregon in the year 1964.

The United States National Bank of Oregon, later in the year 1997, was taken over by First Bank System that had its headquarters in Minneapolis, which is situated in the state of Minnesota. The take over of The United States National Bank of Oregon by the First Bank System was completed in the year 1997. The final take over was completed in the year 2001 when the Firster buyout the US Bancorp. After the take over the bank was completed the Firster changed the name into US Bancorp or the US Bank. The US Bank is the retail division of the US Bancorp and is one of the top ten banks in the United States of America.

The US bank offers it customers a lot of options regarding checking and savings accounts, online account access, credit cards as well as prepaid cards, mortgage rates and facilities, credit lines and loans and other financial management which includes private banking and personal trust, financial consultancy and one can also get to learn the way of investing.

US Bank Checking Account: The US Bank offers a great variety of Checking Accounts such as:

• Free Checking With Interest Account
• Interest Plus Checking
• Elite Checking
• Silver Elite Checking
• Student Checking Account

Free Checking With Interest Account: This account needs at least $100 to open a Free Checking With Interest Account. One does not have to worry about minimum daily balance as it is an irrelevant issue for this account. One also does not have to pay any yearly or monthly maintenance fees for this kind of account. This account gets its customers some kind of an interest the rate of it depends very much on the region one has his account in. The Free Checking With Interest Account also provides ATM cards so that it’s customers can access their account for deposit and withdrawal purposes. The transaction is free if it is done through the US Bank Automatic Teller Machine then the transaction remains free. Otherwise it is chargeable. Other facilities like bill payment through Internet, one can also have online statements available for them. One can also have a 24 hour customer helpline service through this checking account.

Interest Plus Checking: One needs to have $100 to open an Interest Plus Checking account which provides various features. The Interest Plus Checking Account needs a certain amount of minimum balance in the account. The amount depends on the region one has got his US bank Checking Account. If one keeps a minimum amount of daily balance in one’s account then he will not have to pay the maintenance charge for this account. If one fails to do so then he will have to pay an amount as the maintenance fee, the amount of which depends on the region one is in. This account can get one interest on the amount that is kept in the account. The rate of interest as other things depend entirely on particular regions. One can also avail the facilities of ATM s. The usage is termed free if one uses only the US Bank ATM s other than that it is chargeable. One also has the option to pay bills through Internet where the payment money of the bill is directly deduced from the checking account of the bill payer.

US Bank Elite Checking Account: One needs to have a minimum of $100 to open a checking account like Elite Checking account. The account holder needs to maintain a minimum daily amount of $5000 or one can have other bank account in the US Bank itself. If one keeps his minimum daily balance rule going then he will not be pushed to pay an account maintenance fee or any service charge to the bank. If one does not do that he will have to pay a certain amount of money as the maintenance fee. The amount depends on the particular region one has got his account. This checking account also provides interest to its account holders and one can get to know the amount of the interest by surfing the official website of the US Bank. This account also provides the facility of ATM cards which is free of cost if the card is used in the US Bank ATM s otherwise it is chargeable. This account also allows one to pay his bills through the Internet as the payment money is directly deducted from the account of the bill payer. One can also have e statements and this account also provides gifts if it is used for a certain amount of period and a certain amount of money is paid through it.

US Bank Silver Elite Checking: This silver Elite Checking demands an amount of $100 to get one registered under this kind of checking account. One thing that everybody enjoys with this account is that it does not have any rules and regulations about daily minimum balance neither the account holder has to pay any service charge or maintenance charge to continue his account at a monthly or yearly basis. This account also allows the account holder to earn reasonable interest rates which depends somewhat on the region one has got his or her account. This checking account provides the facility of using any ATM or the Automated Teller Machine without any cost. Even for using other bank’s ATM s as well. One can also have bank statements through Internet from home itself and one also has the opportunity to pay all his bills through the bank via Internet. The billing amount would be slashed directly form one’s account without any extra cost. The Silver Elite Checking account holder can also win rewards for spending through his account or by following all the rules and regulations imposed by the bank.

Student Checking Account: This checking account is a special one for students who do not have the capacity to keep a lot of money in the bank. That is why this account only needs $25 to open this kind of an account. This kind of student checking account does not demand any minimum daily or monthly balance from the student account holder. It does not even demand any monthly service charge or maintenance fee from the account holder. In spite of all these facilities without any cost the US Bank still provides an interest rate which like other checking accounts depend on the region the student has got his checking account. The student can also use the ATM card facility as well as other facilities that include Internet banking with Internet bill payment, the student can also get account statement online and a customer helpline service throughout a day. The student account holder can use the US Bank ATM s free of cost but he can also use other ATM s four times each month without paying any extra cost.

The US Bank also offers different kinds of savings accounts as well as certificates of deposits. Some of the savings accounts and certificates of deposits offered by the US Bank are:

• US Bank Standard Savings Account
• US Bank Gold Savings Account
• Money Market Account
• Maximum Money Market Account
• Retirement Money Market Account
• Certificates Of Deposit Account
• Health Savings Account
• Savings Interest Rate

US Bank Standard Savings Account: This account is good for those who want interest rates that are very reasonable even with low balance and also the account holder gets convenient access to their respective accounts. The Standard Savings Account is a kind of account that provides most of the facilities a person wants to get through a savings account. The account only needs $25 to open an account of this sort. one has to pay an amount of service fee or maintenance fee for his account. One is also liable to get a certain percentage of interest rates even with a very low savings balance. This account does not allow the check writing facility for its customers. This account can be used to protect the account holder from overdraft for checking accounts of the US Banks. This account also provides the facility of the ATM s without any cost, only for the US Bank Automated Teller Machines. If one uses the ATM card in other bank’s ATM then it becomes chargeable. This account also provides Internet banking facility through which one can get banking statements and other things. This account provides interests and the interest is compounded at a daily basis, the interest is also paid at a quarterly basis and also the account is insured by the FDIC.

US Bank Gold Savings Account: This Gold Savings Account is a FDIC insured savings account specially works when a specified amount is to be transferred from one’s checking account and the US Bank Gold Savings Bank takes the whole responsibility of transferring the money where the account holder wants. This account can be opened without any money but it needs at least $25 automatic transfer of money from this account once in every statement cycle. This savings account does not charge any amount of service or maintenance charge for this Gold Savings Account. This account provides interest rate that depends mainly on the location on has his account. This account does not provide any protection against the overdraft. This savings account also lets its account holders to use the US bank ATM s free of cost and it also allows access through ATM cards and also US bank check card. This account also provides the account holder the access through Internet Banking facility. The statements of the balance is also linked with the checking account at a monthly basis.

Money Market Account: The Money market Account is insured by the FDIC. The account provides a very reasonable money market rate of interest and along with that it also offers its account holders an easy access to their money market account. The account only takes $100 to open and a minimum of $1000 balance of daily ledger or an average of $2500 collected balance monthly. The account holder who maintains a minimum daily balance is not charged any service or maintenance fee, otherwise one is to pay a $10 monthly maintenance fees for this account. This savings account also provides interest rates but the actual interest rate depends on the place on has his account. This account also provides the facility to write checks to its account holders. One can also have the opportunity to have the checks returned monthly. This account can also be used as the protection for overdrafts in the US Bank Checking Accounts. The account also allows its customers to make transactions in the US Bank ATM without any extra cost. This account also lets its customers to use net banking where one can check and transact money to other accounts as well as receive monthly account statements. This account compounds the interest at a daily basis and pays it at a quarterly basis.

The Maximum Money Market Account: The maximum money market account is an account insured by the FDIC and it also provides a tired rate of interest to its account holders. One can open this kind of an account with only $100. one needs to have a minimum daily balance of $10,000 and if one fails to do so he or she will have to pay an amount of $15.00. One also gets a reasonable interest rate but it differs from one place to another. This account also lets it account holders to write checks and the account also provides safekeeping of the checks. This account can also be used as the protection for the overdraft for the Checking accounts of the US Bank. This account also allows its holders to use the ATM facility without any extra cost if the ATM card is used in US Bank ATM s only. this account charges extra money if the card is used in some other ATM s. The Maximum Money Market Account also allows its customers access through US Bank ATM cards or the US Bank Check Card. The Maximum Money Market Account allows its account holders a free of cost Internet access to their accounts.

Retirement Money Market Account: This retirement money market account is insured by the IRA. This account offers its holders various advantages in the field of taxes and money market interest rates. This account needs $100 to open or an automatic money deposit of $25. This account does not demand any monthly or yearly maintenance or service charge. This account along with all advantages regarding taxes also offers a tiered rate of interest to its customers. This account does not allow its account holders to write checks. This account also allows its customers to transfer money to other accounts. The overdraft protection is not available with this account.. This account allows a free of cost Internet banking option to its customers. One can also have the facility of 24 hour helpline made available by the US Bank.

Certificate of Deposit: Certificates of Deposit or the CD s offer allows its holders to gain a reasonable rate of return and these certificates of savings are also insured by the FDIC. This kind of certificates are very very effective if one has a savings needs specified by time or if one needs to diversify the total risk in one’s part. This kind of retirement planning can become a very important thing in one’s plans for retirement. One will have to decide the amount of money one wants to put into one’s certificate of deposit and also the time length one wants to keep those money in that account. One can receive a higher rate of interest if one puts the money for a longer period of time. These plans normally offers things like a very competitive and reasonable interest rates. One can have flexible terms from one month to a maximum of five years. in the case of Retirement Certificates of Deposit the minimum time becomes 3 months. This account is also insured by the FDIC. One needs to have at least $1,000 for a minimum amount of opening deposit.

Health Savings Account: One needs to have savings for one’s health because in this quick and busy day one can have the need of money at any moment of one’s life. So to remain ready for that period of crisis one needs to have his money intact for treatment. Not only that this kind of investment is also free of tax which makes this kind of policy all the more popular. One can have this kind of health savings account as an alternative of the costly health insurance plans. This health savings account offers many kind of facilities to the existing or the potential health savings account holder. Some of the facilities include tax savings through this account, this kind of account also earns interest for the account holder along with other facilities. This account also helps one to reduce the high health insurance premiums to a reasonable one. This account also allows one to have a long term savings facility. This account is also changeable from time to time with the changing age and health condition of the account holder.

The minimum balance for the opening of the US Bank Health Savings Account is $0. So anybody can open this kind of an account but one has to pay at least $20 to maintain that account and continue with that. The service fees or interest rates varies from places to places. This kind of account also provides ATM cards that lets the account holder access at all ATM s irrespective of the banks. One can also take a look at the checks that has been issued and has been cleared. This facility is free with the Internet banking system provided by the US Bank Health Savings Account. One can also have online statements available for him and he can also without any cost archive the canceled checks. One can also get the canceled checks back as well as return of check images without any extra cost.

US bank Traditional Loans: When one needs money to either start a new business, expand an existing one or other expenses one needs to be sure first about the type of loan he wants and can afford to have. A very few loans that are available in the market suits all. So to help all kind of customers the US Bank has started providing two types of loans such as:

• Term Loans
• Working Capital Lines of Credit

Term Loans: This kind of loan policy is helpful for those who need to purchase various equipments, real estate financing, extending the capital of work, restructuring of ownership or expanding one’s existing business. This kind of things work perfectly under the Term Loan plans. US bank claims to have great expertness in the field of real estate, lending for construction, acquisition of property and also for existing mortgage financing. The US bank offers customized and competitive loans at reasonable interest rates which includes terms and conditions that are flexible enough for the borrower to maintain.

Working Capital Lines of Credit: This kind of loans are basically used by the businessmen to take the advantages of discounts in business and trades. This also helps to expedite the purchase of inventories, and also to manage the flow of the cash in an effective manner. This kind of loans are also made available by the US Bank with reasonable interest rates and flexible enough terms and conditions.