at USAA Federal Savings 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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We adhere to strict standards of editorial integrity. Some of the products we feature are from our partners. Here’s how we make money.

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.

 

USAA also has a Cashback Checking account that earns rewards on debit purchases, but it’s currently available in only a few states (Alabama, Arizona, Florida, Georgia, Texas and Washington).

USAA Savings
APY
0.09%
Min. balance for APY
$1

at USAA Federal Savings Bank,

Member, FDIC

Free USAA Classic Checking
APY
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

0.09%

Monthly Fees

$0

Bonus features

No Monthly Fee

Goldman Sachs Bank USA

Online Savings

NerdWallet Rating

at Goldman Sachs Bank USA,

Member, FDIC

APY

1.85%

Monthly Fees

$0

Bonus features

No Monthly Fee

Competitive APY

American Express National Bank

High Yield Savings Account

NerdWallet Rating

at American Express National Bank,

Member, FDIC

APY

1.75%

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
Excellent
Website / app
Excellent
Rates
Excellent
Fees
Low
Amazing Service
My parents have USAA so when it came time to get my own bank, I decided to stick with them. I recently got a low interest credit card with them and I am thrilled with the credit limit and the knowledge of the associates that I called to ask a few questions of. I’ve never had a bad customer service experience with them, they’re quick to investigate and fix any problems I have with my account. I think they have reasonable APR and interest rates and the rewards card are OK. My only complaint is that they removed all the physical banks from my area so I have to call which is a minor problem. The app is great and simple nothing major. Overall, I recommend this bank to everyone who is a service member or a dependent of one.
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
High
Trash
Started as a good bank but has gone down hill quite quickly. First i try to refinance my bike and seemed to be going well. I was told deposit 600 in my account to cover the fees. I wrote a check from my other account with a seperate bank and deposited it into my checking. Low and behold they decide to hold it for two weeks. Making the deal to refinance the bike obsolete and making it impossible to pay the current payment on the bike. Not only did i try and speak with a bank customer service rep about it but so did the finance officer to which both of us got rude answers from. They refused to release the check to be used to refinance the bike. Other banks would just call my bank and confirm funds. Second bad issue was the vehicle insurance prices. I insure three vehicles. I littlerally saved 1500 a year by switching to geico. (This is not a comercial) USAA would not even match their prices. This company does not look at the customer situation their employees read a script and do not waver from it. We as customers are just another number to them.
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