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U.S. Bank Earns One Million Internet Bankers in Just Over a Year; Free Bill Pay, Enhancements and Customer Confidence in Internet Banking Are Driving Force

MINNEAPOLIS--(BUSINESS WIRE)--April 12, 2005--More than one million customers have enrolled in U.S. Bank Internet Banking at usbank.com in the last year. U.S. Bank attributes the success to the popularity of its free Internet bill pay service, growing customer confidence in Internet banking and recent enhancements at usbank.com. The total number of customers enrolled in Internet banking at U.S. Bank now exceeds three million.

"The growth that we are experiencing in Internet banking at U.S. Bank illustrates a trend that we have seen for some time. Consumers want to stay close to their accounts and to access their bank through multiple channels," said Steve SaLoutos, senior vice president of consumer products and services at U.S. Bank. "They see the value in services like Internet banking and bill pay because of the peace of mind that comes with our risk free Internet banking guarantee."

The U.S. Bank Internet Banking risk free guarantee protects users from unauthorized transactions made during a secure Internet banking session at usbank.com. In addition to greater confidence in Internet banking, the company also credits free bill pay for the growth in online banking. U.S. Bank made its Internet bill pay service free in December 2003 and since then the number of active bill pay customers increased more than 250 percent.

Recent enhancements are likely to continue to drive Internet banking volume. In April, U.S. Bank introduced a new feature that allows customers to log in to Internet banking directly from the home page at usbank.com. U.S. Bank also made its home page flexible so it opens to the page that the customer chooses, whether for personal banking, small business, commercial and government or the Spanish language page.

U.S. Bank historically has been credited for having one of the most convenient Internet banking sites that is easy to use. Enhancements that were made available in 2004 include the ability for customers to easily view images of canceled checks, deposit slips and statements online, customized alerts that notify customers of major transactions on their account, and enhance transfer capabilities allowing customers to schedule a transfer in the future. U.S. Bank also makes it easy to apply for an account online in English or Spanish.

U.S. Bank is a subsidiary of U.S. Bancorp (NYSE:USB). With $195 billion in assets, U.S. Bancorp is the 6th largest financial holding company in the United States. The company operates 2,370 banking offices and 4,620 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is home of the Five Star Service Guarantee in which the company pays customers if certain key banking benefits and services are not met. Visit U.S. Bancorp on the web at usbank.com.

CONTACT: U.S. Bank Media Relations
Teri Charest


"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

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