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$100 Checking Account Bonus at USAA Bank - Nationally Available but Membership Restrictions

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USAA Bank is offering a $100 bonus when you open its Free Checking account with direct deposit. The offer expires 5/31/09. Account can be opened online or by calling (800) 531-8132 and mentioning the offer code CEO 100. In December 2009, a $100 bonus will be credited to your checking account if your account has active recurring direct deposit. The small print states that current USAA checking account customers don't qualify, and that you must be eligible for USAA property and casualty insurance. Bonus is considered interest and will be reported on IRS Form 1099-INT.

This promotion doesn't seem to be listed at USAA's website. A reader reported being emailed this offer. I just called USAA, and the CSR said that those who qualify for USAA membership but did not receive the offer should still qualify for this promotion. To be eligible to join USAA, you must have some military connection. Here are the full eligiblity details. According to the CSR, residents of Bexar County in Texas can also qualify.

USAA Bank's Free Checking account has many perks including free worldwide ATM use, free checks and Deposit@Home that allows customers to deposit checks using their home scanner and PC. USAA Bank also has a history of competitive rates on its CDs (see post).

In addition to banking services, USAA is well known for providing top services in auto insurance and mutual funds. The consumer advocate, Clark Howard, has mentioned USAA many times. You can read some of his commentary here and here.

USAA Federal Savings Bank is headquartered in San Antonio, Texas. It has been FDIC insured since 1983 (FDIC Certificate # 32188). The bank has solid financial ratings for soundness: 5 stars (superior) at BauerFinancial and 4 stars (sound) at Bankrate.com. Both ratings are based on 12/31/08 data.

Thanks to the reader who emailed me news of this promotion.

Related Pages: USAA Bank, Texas, checking account

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Comments
4 Comments.
Comment #1 by Terry E (anonymous) posted on
Terry E
Although this promo requires a new customer to be military based for the bonus, anyone who is a U.S. citizen can open a checking account with them. When you call to set it up they ask if you are military or a relative and if you answer no to both then they ask if you are a U.S. citizen. You would not qualify for their excellent insurance products, but the checking account is great and the debit card gives a small rebate with purchases.

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Comment #2 by Wes S. (anonymous) posted on
Wes S.
To anyone who received the actual email with the CEO 100 bonus code:

If you still have the email, look at the top of it: it should have a "Having trouble viewing this e-mail message? Please try the online version." message at the top, with a hyperlink on "online version." This leads to an web-based copy of the email - it is a non-personalized form of the email, so you don't have to worry about revealing confidential information.

Would someone who has the email please post the URL for this link?

This will allow people to use the link contained in the email to apply online - without having to do the application over the phone.

FWIW, I got an email with a promotional CD offer for a 2-yr, 3.25% CD. Here is the corresponding link to the online copy of the email: http://a676.g.akamaitech.net/f/676/773/60m/images.delivery.net/cm50content/1718/2265/membercd.html

Again, if someone would post the online copy of the CEO 100 email, this would allow anyone to apply online. Thanks!

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Comment #3 by Wes S. (anonymous) posted on
Wes S.
I should clarify my comment:

It will allow anyone who meets USAA's eligibility requirements to apply online - won't allow access to anyone in general.

Sorry if I caused confusion there.

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Comment #4 by Wes S. (anonymous) posted on
Wes S.
shinedown87 on SlickDeals provided the link - here it is:

http://a676.g.akamaitech.net/f/676/773/60m/images.delivery.net/cm50content/1718/1939/membercheck.html

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