at USAA Bank,

Member, FDIC

Pros

Access to more than 65,000 ATMs
No monthly fees or balance requirements for basic accounts
Money Manager tool tracks spending

Cons

Top 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

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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 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 July 3, 2018

Checking

4.5

USAA’s Classic Checking account has no monthly fee and access to more than 65,000 USAA Preferred ATM machines nationwide. In addition, the account gives a $15 monthly reimbursement for non-network ATM fees. The interest rate of APY is barely better than zero, but similar checking accounts at some other banks don’t earn any interest.

 

Other pros: 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
Monthly fee
$0
Balance to waive monthly fee
$0

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
Avoid this bank
They have the worst CD rates they renew cds without your consent. Their charge cards are getting worse and worse. Their checking accounts always have issues terrible customer service no department ever has the answer to your questions. They have consistently went downhill over the years I have had them for 11 years and recently decided to go with another military bank.
Overall
Customer service
Poor
Website / app
Fair
Rates
Fair
Fees
Fair
Frustrating
We have spent no less than 2 weeks attempting to set up a checking account for our son, he already has a savings account with USAA. Unfortunately, despite calling multiple times a day, for the better part of two weeks. We are still waiting on USAA to complete their end of the process. There were at least 3 incidents where we have had to resubmit forms and identification only for it to be lost in the shuffle, repeatedly. With our last attempt, we stayed on the phone with the associate assisting us to confirm the forms were in fact received by them, and we were told the issue was being escalated to their supervisors for immediate attention and to call back after a few hours. THREE DAYS later and multiple calls later, USAA has still not completed their required actions, and we are still waiting. Meanwhile, our son's savings account has also been restricted and he is not able to complete some necessary paperwork for college as a result. We are really very disappointed with how this whole process has played out, after being happy customers for over 20 years.
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