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.

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

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
2.06%
Min. balance for APY
$1,000
Length of term
1 year

at USAA Bank,

Member, FDIC

Classic Checking
APY
0.01%
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
Fair
Rates
Poor
Fees
High
What a waste.
Brought on to USAA by my father when I joined the army in 92. Loved USAA then. Had everything with them. Ever since they went public beyond just being a service member they increasingly get worse. Insurance auto and home.. loans.. cc... banking (called over 34 times in a 2 month period to resolve 1 problem!!!) Never again isis... I mean usaa. Never again
Overall
Customer service
Poor
Website / app
Poor
Rates
Poor
Fees
Fair
Not the same USAA
USAA now relies on millions spent in advertising to attract customers as once loyal members leave in droves. The heroic themed ads tell very different stories than the often horrible truth. As a 40 year member I had enough and am taking my business elsewhere for banking and home/ auto insurance. I am not alone, hence all the ad campaigns and new jingle, My family’s direct firsthand experiences with USAA included all of the following: Numerous Department of Regulatory Affairs (DORA) statute violations, failure to fulfill insurance policy obligations, overcharging at higher rates For nearly a decade due to failures to update repairs reimbursed thru claims , layers of internal bureaucracy resulting in inconsistent directions and explanations of corporate procedures from the myriad of customer service representatives. Second rate subcontractors. You will never speak to the same person twice which makes it easy for USAA to keep changing the storyline. Does not stand out as offering better service to the military. Instead USAA exploits the loyal and steadfast nature of most military members for their own advantage. Nothing special here.
Some of the reviews on the NerdWallet site were purchased through a third party provider. Users who post a review directly on the NerdWallet site will not be compensated in any way. Please see our Terms of Use and Posting Guidelines for more information.