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USAA Banking

San Antonio, TX

USAA Banking
Overall Satisfaction Rating 2.50/5
  • 5 stars
    18
  • 4 stars
    2
  • 3 stars
    2
  • 2 stars
    2
  • 1 stars
    52
Based on 76 ratings submitted in the last year

This company is not yet accredited. See reviews below to learn more or submit your own review.

USAA sells auto and property insurance to members of the U.S. military and their families.

BOTTOM LINE

USAA is one of the few banks that doesn’t charge monthly service fees for checking and savings accounts. If you’re eligible for an account, you can get access to competitive APY rates.

PROS

  • No minimum balance requirements
  • More than 60,000 USAA-preferred ATMs
  • Competitive APY

CONS

  • Strict eligibility requirements
  • Few branch locations

Top USAA Banking Reviews We Found

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Rated with 5 stars
Verified Reviewer

My banking experience with USAA has been outstanding! … even with a rare occurrence, whatever the issue, it was resolved with courtesy, consideration, and yes, even kindness.

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Rated with 5 stars
Verified Reviewer

USAA has the best website and online banking is phenomenal as is their customer service. My only complaint is that they don't do business accounts so I have to have another account elsewhere ...

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    Are you this business?

    What is USAA Bank?

    USAA is a members-only bank for active-duty military personnel, veterans and those who have close family ties to military personnel. USAA offers a wide selection of financial services, including checking and savings accounts, credit cards and loans for cars, homes and personal expenditures. Members can also manage their financial assets with fixed-rate CDs that have flexible terms.

    USAA online banking helps members save time and money with online bill pay and a suite of free budgeting tools. USAA members can send and receive money using the USAA bank app, Zelle, and deposit checks from their phones.

    USAA financial services

    USAA banking services include both checking and savings accounts. USAA offers two checking accounts — USAA Classic Checking and USAA Youth Spending. USAA Youth Spending is a checking account with parental controls for people less than 18 years old. Classic Checking and Youth Spending have no monthly service fees or minimum balance requirements. Checking accounts require a $25 deposit to open.

    USAA loan services offer home mortgages and loans for cars, motorcycles, RVs, boats and personal lines of credit. USAA Bank has several mortgage options, including 15- and 30-year conventional loans, VA loans and jumbo loans. USAA’s wealth management services include two savings account options. Savings accounts require no minimum balance and do not have any monthly service fees. USAA's financial planning services offer CD terms ranging from 30 days to seven years with fixed rates for one, two and five years.

    USAA Banking FAQ

    Who can open a USAA bank account?
    Any active or former military member or person who is an eligible family member can open a USAA banking account.
    What ATMs are free with USAA?
    Members have access to more than 60,000 USAA-preferred ATMs nationwide. Any USAA Bank-owned ATM is free for USAA members. Members get 10 free ATM withdrawals each month at non-USAA Bank ATMs, and USAA refunds members up to $15 per month for non-USAA Bank ATM charges.
    How can I deposit money into my USAA account?
    You can use the USAA mobile app to deposit checks into your account from anywhere. You can also deposit money into your account at select USAA ATMs and branch locations.
    Can I join USAA if my grandfather served?
    No. Only widows, widowers and un-remarried former spouses of USAA members who joined before or during the marriage can join USAA. Individuals whose parents are USAA members are also eligible.
    Can you open a second checking account with USAA?
    Yes. You can open a checking account with a $25 deposit. USAA does not require you to maintain a minimum balance after opening your account.
    Where is USAA Bank located?
    USAA Bank is based in San Antonio, Texas. USAA has five physical locations, which are located in Texas, Colorado, New York, Maryland and at West Point Military Academy in New York. However, USAA has more than 60,000 USAA-preferred ATMs in the U.S. that cover all states except Nevada, Montana and Wyoming.

    Is USAA a good bank?

    USAA is one of the best and most trusted banks in the country. It's known for its renowned customer service and strict eligibility requirements. If you have an opportunity to join USAA, you should consider taking it. The bank offers free checking with no service fees or minimum balance requirements but does not offer high-yield savings accounts.

    USAA Banking Reviews

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    How do I know I can trust these reviews about USAA Banking?
    How do I know I can trust these reviews about USAA?
    • 2,432,464 reviews on ConsumerAffairs are verified.
    • We require contact information to ensure our reviewers are real.
    • We use intelligent software that helps us maintain the integrity of reviews.
    • Our moderators read all reviews to verify quality and helpfulness.

    For more information about reviews on ConsumerAffairs.com please visit our FAQ.

    Page 1 Reviews 0 - 10
    Rated with 5 stars
    Verified Reviewer
    Original review: Aug. 8, 2020

    I was with B of A for 25 yrs, until one day I got a refund check from a business that I had a warranty issue with. B of A charged me 9 dollars to cash the check. I decided to cash the check because I was concerned it may not be any good since my battle to get the refund took months and a lot of stress getting there. Needless to say I decided at that point B of A did not treat me as a valued 25 yr customer so I left. I went to USAA as I had been with them for 12 yrs as a Credit Card and insurance client. I have had issues in my life that USAA handled without me feeling undervalued, including someone used my CC for purchase I did not authorize. Additionally, they helped me manage my mother's investments after her stroke and since finance a 180k RV which I had problems getting the loan through other banks. I am with USAA for life!!

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    Rated with 5 stars
    Verified Reviewer
    Original review: Aug. 7, 2020

    I joined USAA a few years back and am very happy I did. Nice touch when you call in is that they address you automatically by name (and rank) and have immediate access to my account information to begin helping me with my queries, versus mechanically asking for my account number, asking my name, then repeating everything I say and not active listening, hence prolonging the process until getting to my query. I have closed my accounts with my previous bank and now do all my savings/checking banking through USAA. Plus utilize my USAA credit card most because I can pay it immediately from my checking account. I don't think that I should be limited to how many electronic transfers I do between accounts, since it's digital and doesn't require manpower. And believe since my credit score has been excellent for some time now, they could work with me to do better on the credit card's APR.

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      Rated with 5 stars
      Verified Reviewer
      Original review: Aug. 2, 2020

      USAA, for those of us eligible, is a fantastic bank. Active/reserve/National Guard military members, retired, and most veterans & families are allowed. My accounts have no fees but I'm unsure if that's because I'm retired active duty (started account while AD) or if all accounts are without fees. Even though USAA is an On-line bank, I haven't had any issue with the inability of actually going to a brick & mortar bank - in fact, it's actually quite refreshing. There aren't fees at ATMs but I typically just get whatever amount of cash I might need at the grocery or other store during checkout. I'd highly recommend USAA for anyone eligible to make an account.

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      Rated with 5 stars
      Verified Reviewer
      Original review: July 26, 2020

      USAA is an excellent bank for veterans and their family members who have served in the military. The customer service is excellent and friendly with the ability to inquire via phone or chat. The variety of services and products available is extensive. The online banking app and mobile app is easy to use and safe with 2 factor authentication. Their security measures are top notch. They have no monthly fees for their accounts only overdraft fees, which is understandable. My one and only complaint is the wait times to reach a customer service representative, at times, can be a little long. Perhaps they need to hire more reps. That is a merely an inconvenience. I highly recommend USAA Bank.

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      Rated with 5 stars
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      Verified Reviewer
      Original review: Feb. 25, 2020

      Just a veteran, but good enough! I had some unexpected major expenses three years ago. Good credit score, security clearance. Just drowning in high interest. Tried getting loans with credit unions in my area who make their fortunes from vets with clearances - namely Tower FCU and Navy FCU. They either turned me down or did a bait and switch on the interest rate due to my high D/I ratio. I even applied with online lenders who guarantee the lowest rates. But it was USAA that came thru for me in the end. I guess I should have known, as I've been very happy with their bar none customer service since day one. I'll be looking to refinance my primary residence and rental property soon. USAA won't have the lowest rate, I'm sure. But they'll be the first Bank I call. Trust me when I say, it's important to have a good relationship with your lender!

      4 people found this review helpful
      Rated with 1 star
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      Verified Reviewer
      Original review: Sept. 16, 2020

      On Thursday, September 3rd, 2020, we received an email from USAA to contact FiServe, as a payment to Travelers Insurance was returned. We contacted USAA immediately, and were told that our account was frozen, and in the process of being closed. The reason was “evidence of business activity in a personal account”, specifically that we had inbound wire transfers from businesses. We inquired as to the specifics of the wires in question, and asked why we were not notified. We were advised that USAA allegedly sent a letter to us on July 1, 2020, via USPS, not certified. Had we received the letter, we would have contacted USAA. Why would USAA rely on a shaky USPS to deliver notice of account closure when they have a secure email system, or could have called?

      After 3 phone calls with USAA representatives who told us that the matter was final and there was no escalation procedure, we insisted upon escalation, and were directed to the Office of the CEO. All of these calls were recorded, and we were informed that the case had been referred to an advocate. We called 3 times that Friday before the holiday weekend, with no call back. Again, on Tuesday, we called multiple times before we insisted that we speak to an advocate, as we had multiple bills on BillPay that were at risk.

      Indeed, payments to Chase for our credit card bill and our mortgage failed. We finally spoke to the “advocate”, who reiterated that the matter was final due to our actions regarding inbound wires. We asked if USAA had looked at our disbursements, as they were obviously personal, and we receive wires as the means of being paid for our work. There was no tolerance, and after 20 years of being customers, and having our insurance and investments with USAA, we were treated as marginal wire fraud perpetrators.

      We proceeded to set up a new account at USAA in order to fulfill pending BillPay invoices, which required multiple transfers to and from other accounts in order to fund our BillPay since our funds were frozen. We also insisted that the advocate persist in finding out the specifics of which wire transfers were deemed to be suspicious. Having our account frozen, frantically accessing other funds, and having payments bounce created undue stress, and immediate negative impact to our credit ratings.

      Finally, on Thursday, September 10th, 2020, we were advised that our account had been closed, and that the funds would be transferred to our new, active account. On Friday, September 11th, 2020, we were advised that our frozen funds were not transferred, but sent to us via USPS, and we would just have to wait. We were also advised that indeed, USAA had made a bank error, and our wire transfers were not evidence of business activity, and the account should not have been frozen and closed down. We do not have access to our funds, do not know when they will arrive, were told they could not stop payment on the check and transfer electronically, have damage to our credit ratings.

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      Rated with 1 star
      Verified Reviewer
      Original review: Sept. 6, 2020

      There I was...a 30 year customer, visiting my brother in-law in the Philippines, when the Taal volcano erupted. Then the news of a deadly rogue virus from China. I elected to leave the country ASAP, but alas, USAA blocked my bank account, credit card, ATM card and all access to my funds! Using limited Intl' cell phone service, I could not find, even one competent customer representative to restore access to my funds. After two weeks I was able to borrow money to return to the U.S. It took weeks to close All my accounts with USAA and recover my funds. Whatever challenges life throws your way - USAA won't be there for you, you ARE, Just Another Number. USAA - incompetent, disloyal, void of the core values that military families expect. Perhaps they should ask their members - why they switched FROM USAA. Take it from the Chief - USAA is NOT made for What's Next!

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      Rated with 1 star
      Verified Reviewer
      Original review: Aug. 15, 2020

      I do not recommend this bank any longer. I have been with them for well over 10 years. Two years ago we bought a house and needed to give a check to basically hold the house. For some reasons, the "people" that were selling the house, decided to keep the check for 2 years and then decide to cash it, in the middle of a pandemic where a lot of people have lost jobs, including my husband. So what was left in the bank was already spoken for.

      Well, despite having a three month "expiration" date for checks, wonderful USAA decides to cash the check and will not help to get the money back. I even called the other bank and the other bank was willing to help, but since USAA refuses to help, we are now out money for our mortgage. Thanks a lot USAA, I can really tell how much you value your long standing customers. Why even bother having an "expiration" date for checks if you don't honor it? I've had other issues with this sorry bank before, but this one takes the cake, and I will be looking for another bank, I suggest you do the same too.

      4 people found this review helpful
      Rated with 5 stars
      Verified Reviewer
      Original review: Aug. 9, 2020

      USAA is all about customer service. They go above and beyond to satisfy customers. Very proactive with alerts and issues with accounts. Everything is online so they have their work cut out for them to stay on top of issues. Overall a great bank.

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      Rated with 5 stars
      Verified Reviewer
      Original review: Aug. 9, 2020

      USAA Banking is easily the best bank I have ever dealt with. I have a checking, saving, and vehicle loan through them. In the past I have had a mortgage and 2 other vehicle loans. Excellent customer service, no fees, and great rates.

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      USAA Banking Company Information

      Company Name:
      USAA
      Website:
      www.usaa.com