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

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

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

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
Poor
Fees
High
Horrible Customer Service
I had USAA for years (both as a bank and my Insurance Co. My roof was being replaced by USAA due to a Hail Storm. They sent me a check, that I tried to deposit via scanning. I needed to pay 1/2 upfront to the roofing company for my shingles.. after Several days the check still showed pending and the funds were Not in my account. I called to find out what was wrong... they informed me that on large deposit checks (over $10,000) that there is a 5 day Hold to ensure the funds are available... the Rep said we need to make sure the check is Valid... I immediately replied, “I hope so, it’s Your check... it’s a check from USAA Insurance being deposited in a USAA checking account... When your bank holds the funds from one of its own sister companies, it’s time to look elsewhere... I switched both Banks and Insurance companies... their Customer Service is Terrible!
Overall
Customer service
Poor
Website / app
Fair
Rates
Poor
Fees
High
As a Veteran Not Recommend
USAA do Repo my vehicle because of payment fine I did pay it off before they sell it out but guess what they took my vehicle to an storage with a fee of $20 per day ?!?!? insane . please do yourself a favor save your money in your own house and do not let banks "save" it.
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