Pros

Access to more than 60,000 ATMs.
No monthly fees or balance requirements for basic accounts.
Money Manager tool that tracks spending.

Cons

Top annual percentage yield (APY) on basic savings account is 0.15%; better rates are available elsewhere.
Only four locations in the U.S., most financial centers closed recently.
Membership limited to people with military ties.

Overall

3.5

Military families on the move need a bank that goes 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 May 12, 2017

Checking

4.5

USAA offers four checking accounts nationwide: basic checking, college checking, youth spending and military checking. (A fifth account, Cashback Rewards Checking, is available in 28 states as part of a pilot program.) They all have the same fees and requirements, though for new recruits the cashback and military checking accounts waive the $25 minimum opening deposit.

USAA Savings
0.15%
APY
$10,000
Min. balance for APY
Learn moreat USAA Federal Savings Bank
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
Fair
Rates
Poor
Fees
Low
Hold on all accounts
20 year member - current employee. I give financial advice to members. One of the things we talk about is USAA is a great place to have all of your investments, banking, insurance and more. We urge members to have emergency funds in a liquid bank account. I can no longer in good conscious advise this because of my families situation with USAA bank. I have all of my liquid accounts, checking, savings etc. with USAA. I deposited a large check into my checking. I understand a hold on a check that large but I had current funds plus an auto deposit check had just gone through so we were using the funds that were clear. I tried booking last minute travel for a once in a lifetime event for my son at the Air Force Academy and my card was declining. I called USAA and they said my accounts, plural, all of my accounts, are under “review”. In other words, they have denied access to our money, even cleared funds for 3 days. I said you can’t do that, they said we can hold or review accounts at any time they feel necessary. USAA is not a good place for emergency liquid funds. If you are going to bank here, make sure you have cash somewhere else.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
Fair
looking for a new bank
They have been good in the past, but are not as great as they think they are. I have been with them for 10+ years. Their banking "automatic processes" seem to now outweigh actually helping the individual customer. I made an honest mistake a few months ago, trying to make a transfer with an incorrect external bank acct #. This was an attempted deposit into my usaa acct and did not cost them any money. They have since restricted my external transfers (despite my long and spotless history, without a single bounced check or other problems). They gave me a date in Oct when the restriction would be removed, but still not removed. This has made banking a lot more difficult for me, so will find a new bank.
Some of the reviews on the NerdWallet site were purchased through a third party provider. Users who post a review directly on the NerdWallet site will not be compensated in any way. Please see our Terms of Use and Posting Guidelines for more information.