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

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