at USAA Bank,

Member, FDIC

Pros

First 10 withdrawals per month are free at over 60,000 ATMs; 1,200 USAA-branded ATMs that are completely free.
No monthly fees or balance requirements for basic checking or savings accounts.
Online budgeting tool tracks spending.

Cons

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

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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 decent ATM fee reimbursements, USAA Bank ensures that members can access their money from anywhere. Free access to ATMs, however, is limited.

 

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

Ratings methodology | Updated November 6, 2019

Checking

4.0

USAA’s Classic Checking account has no monthly fee and a $15 monthly reimbursement for non-network ATM fees. USAA’s 1,200 branded ATMs are completely free and take deposits.

 

Customers can access more than 60,000 USAA-preferred ATMs at various locations nationwide, but only the first 10 withdrawals per month are free and deposits aren’t accepted. A $2 ATM fee applies after the tenth withdrawal per month. The interest rate is barely better than zero.

 

Military payday is a day early with direct deposit. USAA also has a Cashback Checking account that earns rewards on debit purchases, but it’s currently only available in a limited number of states in the U.S.

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

at USAA Bank,

Member, FDIC

Certificate of Deposit
APY
2.78%
Min. balance for APY
$1,000
Length of term
5 years

at USAA Bank,

Member, FDIC

Classic Checking
APY
0.01%
Monthly fee
$0
Balance to waive monthly fee
$0

at USAA Bank,

Member, FDIC

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
Poor
Website / app
Poor
Rates
Good
Fees
Low
Worst Customer Service
I'm not one to post reviews, but I felt this was necessary... A few weeks ago, I learned about USAA Insurance and Banking, since I was looking to lower my premium, and interested in debt consolidation, I decided to reach out. First it was seamless, I moved my auto insurance from Geico to them, I refinanced my Auto Loan, and requested a personal loan to consolidate my credit card bills. Everything was smooth, and easy. I received the loan check, check cleared on my bank account, and I started paying bills. Two days later, USAA cancelled the loan check, since the balance now on my bank account was lower than the loan check, my personal bank froze my account, not giving me any access to my funds. I called USAA multiple times, and every rep after reading my file stopped talking to me as if they were prevented to speak, just repeating that the USAA chose to refuse to do business with me. No one ever called me to discuss any discrepancies between my applications for the loan if any. One of their top resolution team members claimed that only the personal loan was cancelled, but that my Auto Loan and my Insurance was ok. A few days later I received a letter from the Insurance Dept, cancelling my auto insurance, giving me 30 days to find a new Insurance provider. The letter claimed to have based their decision on information given by the Banking department as I had malicious intent to hurt the USAA... Again, NO ONE EVER CALLED ME, no letters were send to explain their reason, no representative called me to clear any discrepancies... Nothing. WORST service ever. Worst few weeks of my life as I tried to access funds to feed my family since my paycheck and wife's paychecks are direct deposited to my personal Bank account (which was frozen until they recovered the amount of the cancelled loan check). That was my experience with USAA... At the moment I still have the Auto Loan, and they claimed it wouldn't get cancelled. But, who knows...
Overall
Customer service
Poor
Website / app
Poor
Rates
Good
Fees
High
HORRIBLE BANKING EXPERIENCE
Whatever you do, AVOID USAA at all costs. They are the only bank that does not allow you to flawlessly transfer money from one USAA member to another without going through a third party APP like Zelle. Here is where the problem lies, have a transaction returned on your banking accounts or overdraft at any point, they lock you out of Zelle to where you cannot transfer money for 6 months until they review your account. Had a 50 dollar bill payment returned bc I scheduled it wrong, went and rescheduled it, didn't think about it, went to send my wife money through zelle and it wont work because of course, that one mishap got my account "coded" for ineligibility to use zelle for anything. Here is the kicker, wife and I have our own USAA accounts and they are not linked in any way shape or form, so without going through their zelle program, we cant even send funds within the banking system itself like you can do with wells fargo or bank of America. Word of advice, stick to the banks you have and don't waste your time on USAA when you can do basic things with your current bank the USAA doesn't allow.
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