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.

USAA Savings
APY
0.05%
Min. balance for APY
$1

at USAA Federal Savings Bank,

Member, FDIC

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

at USAA Federal Savings Bank,

Member, FDIC

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

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

0.05%

Monthly Fees

N/A

Bonus features

N/A

Goldman Sachs Bank USA

Online Savings

NerdWallet Rating

at Goldman Sachs Bank USA,

Member, FDIC

APY

1.8%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

Barclays

Online Savings Account

NerdWallet Rating

at Barclays,

Member, FDIC

APY

1.65%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

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
Poor
Website / app
Good
Rates
Fair
Fees
High
USAA Bank Dispute Process
I am a current retired military customer; with USAA over 20 years. I am not satisfied with how they handle disputes with merchant charges. USAA does not appear to work on their customers behalf. They give you 30 days while they work to resolve your Dispute, they give you a temporary credit and yet they drag their feet with their elite Executive Resolution Dept. They give a song and dance and don't really work on their members behalf, they give the merchant the benefit of reward and not their USAA members. Bad practice!
Overall
Customer service
Poor
Website / app
Fair
Rates
Poor
Fees
High
Just another big bank
Been with USAA for 12 years while I was in the service. Used to be great, now I can't tell them apart from all the big branches. They care very little for customers and new fees pop up all the time.
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