U.S. Bank Smartly Checking is better for users who want to earn a small amount of interest and potentially access direct deposits early. Bank of America Advantage Plus Banking is better for users who prioritize a large ATM network and potentially lower overdraft fees.
| Attribute | U.S. Bank Smartly Checking | Bank of America Advantage Plus Banking |
|---|---|---|
| Monthly maintenance fee | $12 | $12 |
| Fee waiver options | The monthly fee can be waived by meeting one of the following requirements: Combined monthly direct deposits totaling $1,500 or more; Maintaining an average account balance of $1,500 or greater; Being an account owner of an eligible U.S. Bank small business checking account; Qualifying for Smart Rewards Gold Tier or above; Being a member of a customer group such as youth, young adult, senior, or military. | Make at least one qualifying direct deposit of $250 or more per statement cycle, Maintain a minimum daily balance of $1,500 or more, Enroll in the Bank of America Preferred Rewards program (minimum balance of at least $20,000 across your BofA accounts for three months) |
| Minimum opening deposit | $25 | $100 |
| Overdraft fee | $36 per transaction if the overdrawn balance is more than $50. There's no overdraft fee if the balance is overdrawn by $50 or less. | $10 per item, limited to a maximum of two overdraft fees per day. No overdraft fee is charged if the account is overdrawn by $1 or less. |
| ATM network size | U.S. Bank has over 4,500 ATMs. It also partners with the MoneyPass ATM network. | Approximately 15,000 ATMs |
| Mobile banking app rating (iOS) | The mobile banking apps receive good reviews. | Not available |
| Mobile banking app rating (Android) | The mobile banking apps receive good reviews. | Not available |
| Interest-bearing? | Yes. The interest rate is 0.005%. | No |
| Early direct deposit? | Yes, U.S. Bank may make funds from qualifying direct deposits available up to 2 days early. | Not available |
| Bill pay features | Yes. You can manage and track bills, and schedule payments through the U.S. Bank mobile app or online. | Yes, through the mobile app and online banking |
| FDIC insured? | Yes, U.S. Bank is FDIC insured up to $250,000 per depositor. | Yes |
| Availability of Zelle? | Yes. | Yes, Zelle is integrated into the Bank of America mobile app |