at USAA Federal Savings Bank,

Member, FDIC

Pros

Access to more than 60,000 ATMs
No monthly fees or balance requirements for basic accounts
Money Manager tool 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.
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 Dec. 15, 2017

Checking

4.5

USAA offers four checking accounts nationwide: Classic Checking, college checking, Youth Spending and checking for military recruits. (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 the cashback and military checking accounts waive the $25 minimum opening deposit for new recruits.

Certificate of Deposit
APY
2.12%
Min. balance for APY
$1,000
Length of term
5 years

at USAA Federal Savings 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
Excellent
Website / app
Excellent
Rates
Fair
Fees
Fair
Gold Standard Bank for Service Members
I have been a USAA customer for 32 years. They've earned my loyalty. From auto insurance to banking to brokerage to life insurance, they offer a fully integrated system to support active duty, retirees, and veterans and their families in their financial needs. I was surprised to read several poor reviews on this website because I've always had excellent experiences with them. Even when I decided to move my retirement accounts to Fidelity several years back, their customer service rep was supportive of my decision, telling me that they want their customers' needs to be met in the best way possible, whether its with USAA or with another company that's a better fit. To me, USAA is the gold standard and the first place I look to meet my financial needs, even when I'm comparison shopping.
Overall
Customer service
Poor
Website / app
Fair
Rates
Poor
Fees
Fair
Pre pay account holders are treated better!
I am very disappointed in USAA. It is a bank that is "supposed" to help military families, yet they add extra fees others do not, they add NSF fees when there is money & when you call the Reps will be condescending & will transfer your call or disconnect the line so you can't give a negative review.
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