at USAA Federal Savings Bank,

Member, FDIC

Pros

Access to more than 65,000 ATMs
No monthly fees or balance requirements for basic accounts
Money Manager tool tracks spending

Cons

Top APY on basic savings account is 0.15%; better rates are available elsewhere
Only four locations in the U.S.
Membership limited to people with military ties

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We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

Overall

4.0

Military families at home or on the move need a bank that stays with them. Through online banking options, mobile tools and a broad ATM network, USAA Bank ensures that members can access their money from anywhere.

 

If you’re eligible for membership, the bank’s no-fee checking account and Money Manager tool deserve a closer look.

 

Ratings methodology | Updated July 3, 2018

Checking

4.5

USAA’s Classic Checking account has no monthly fee and access to more than 65,000 USAA Preferred ATM machines nationwide. In addition, the account gives a $15 monthly reimbursement for non-network ATM fees. The interest rate of APY is barely better than zero, but similar checking accounts at some other banks don’t earn any interest.

 

USAA also has a Cashback Checking account that earns rewards on debit purchases, but it’s currently available in only a few states (Alabama, Arizona, Florida, Georgia, Texas and Washington).

USAA Savings
APY
0.09%
Min. balance for APY
$1

at USAA Federal Savings Bank,

Member, FDIC

Certificate of Deposit
APY
2.68%
Min. balance for APY
$1,000
Length of term
5 years

at USAA Federal Savings Bank,

Member, FDIC

Free USAA Classic Checking
APY
Monthly fee
$0
Balance to waive monthly fee
$0

at USAA Federal Savings Bank,

Member, FDIC

How does USAA Federal Savings Bank compare?

USAA Federal Savings Bank

USAA Savings

NerdWallet Rating

at USAA Federal Savings Bank,

Member, FDIC

APY

0.09%

Monthly Fees

$0

Bonus features

No Monthly Fee

Goldman Sachs Bank USA

Online Savings

NerdWallet Rating

at Goldman Sachs Bank USA,

Member, FDIC

APY

2.05%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

American Express National Bank

High Yield Savings Account

NerdWallet Rating

at American Express National Bank,

Member, FDIC

APY

2.00%

Monthly Fees

$0

Bonus features

Competitive APY

Live help 24/7

No Monthly Fee

Not for you? Read more bank reviews
NerdWallet reviews are the result of independent research by our editorial team while accountholder reviews are contributions from independent users not affiliated with NerdWallet. Banks, issuers and credit card companies are not responsible for any content posted on the NerdWallet site, nor do they endorse or guarantee any posted comments or reviews.
Overall
Customer service
Fair
Website / app
Good
Rates
Poor
Fees
Low
Good Insurance
They have good insurance prices and a few nice services, but not much else. Their checking and savings accounts are complete garbage compared to other banks that offer way higher interest rates with no fees. Credit cards are similar to any other big bank.
Overall
Customer service
Poor
Website / app
Poor
Rates
Fair
Fees
Fair
Very disappointing
I started with USAA twenty-five years ago and couldn't say enough good things about it. But ...things have changed. Tried using them for real estate when looking to buy a home. Poor service so I switched to a local realtor. Recently when trying to log in to my checking account I was confronted with a "customer questionnaire" which I was given three log-in attempts to fill out. If I didn't comply I would be LOCKED OUT of my three online bank accounts. The questions were all invasive inquiries into my personal finances. If I had any questions they provided a phone number to call. So I called it. I spent forty minutes on the phone and was transferred to five different reps. None of them had a clue what I was talking about. Finally someone told me that the questionnaire was required by law but she didn't know what law but it had something to do with the "Freedom" Act. I was late for work so I had to end the call but was promised a supervisor would call me back the next day. NO call back. So I tried once again. This time for thirty minutes, two reps, and no one knew what I was talking about. I finally emailed my U.S. Senator's office to ask if they knew anything about a law that required my personal information in order to have access to my own bank accounts. Unbelievably, someone from U.S. Senator Tom Udall's office actually called me back and promised to look into it. They thought it might be a scam. Bottom line: I finally got through to a supervisor at USAA who apologized but assured me that this is a real thing brought to us courtesy of our Homeland Security department so I finally filled out the questionnaire and was finally "let in" to my account. Customer Service ...Zero stars.
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