USAA Bank

USAA Bank


Overview / Commentary
800-531-8722
10750 McDermott Freeway
San Antonio, TX 78288-0544

USAA Bank is the Texas-based banking component of the United States Automobile Association, a privately held financial services company offering an array of insurance, banking, investment, and lending products and services. The company’s target market and membership field is limited to members of the U.S. military and their immediate families. The company also has a history of superior credit and service ratings, in addition to its repeated recognitions by major publications for being one of the best companies to work for.

On its personal banking side, USAA Bank offers deposit and loan products to serve its members savings and lending needs. Checking, savings, Certificate of Deposit (CD) and IRA CD accounts are available, as well as auto, home, and personal loans. USAA’s checking accounts feature a free checking option that offers free mobile deposit, BillPay, funds transfers to and from any bank, and zero liability for unauthorized charges. The bank also has a secure checking account option that comes with a monthly fee in exchange for identity theft protection services and a World MasterCard debit card. The savings account offering has no monthly service fee and comes with a debit card that can be used at any ATM nationwide. Transaction fees garnered from non-USAA ATM partners are reimbursed up to a certain amount each month. The savings account also features free funds transfers and tiered interest rates that grow as the account balance reaches certain thresholds. Both the checking and savings account offerings come with USAA’s financial management software, MoneyManager, which helps track expenses and map out a budget.

Certificates of Deposit (CDs) and IRA CDs are also available and can be opened in term lengths ranging from 1 month to 7 years. CDs come in three forms: Variable, Adjustable Rate, and Fixed Rate, which allow for additional deposits, a one-time rate adjustment, and no additional deposits, respectively.

USAA Bank online banking provides a secure and versatile web-based system through which members can manage their deposit accounts, as well as other accounts they have with USAA. The Internet platform makes it easy to accomplish tasks like Bill Pay, mobile deposit, and funds transfers. USAA MoneyManager is the bank’s proprietary financial management system that gives members the ability to track their spending and budget. USAA’s mobile banking system consists of a mobile optimized website and mobile banking apps to make banking from a smartphone or tablet device easy and convenient.

USAA Bank was originally established as a federal savings bank with the FDIC in 1983 and is headquartered in San Antonio, Texas. The USAA group began after a group of Army officers insured one another when they could not obtain auto insurance due to their “high-risk” stereotype. Over 60 years later the banking component of the insurance company was started. USAA Bank serves its members through a limited number of financial service centers located across the country, as well as through online and telephone banking representatives.

Reviews (271)

The Best Bank There Is!

Posted by: |

I have been banking at USAA since I’ve been 16 years old and have had many products through them. Currently I have two credit cards, checking, savings, personal loan, renters insurance, and car insurance. I never plan on switching my primary bank as USAA has always treated me well. Customer service-wise, they have always been available and helpful to the various needs I've had. They take their time and have helped me learn how to balance my finances and what the benefits of different products are. The website and app have had various upgrades throughout the years that have made banking and reviewing my accounts easier. I have never stepped foot in a physical USAA bank and don’t live anywhere near one, but the no-ATM fees have made this variable insignificant.

The only problems I've had with USAA was the turnaround on a claim/car repairs when my vehicle was stolen. There was a huge increase in auto theft in my area, and my auto repair shop told me that many vehicles waiting in his shop were insured by USAA. The price of my insurance is a lot lower than other competitors, so I decided to stay with USAA despite this poor experience. The other area where USAA may not be "the best" is for savings accounts, their interest rates are not competitive. I have a savings account at USAA for the purposes of overdraft protection and instant transfer, but in terms of high-yield savings I have an account elsewhere (BMO Alto).

Overall, I’ve heard various horror stories about banks from friends and family members. I’m grateful to have never experienced any significant or ongoing difficulties in the 10+ years I have been utilizing USAA. I don’t plan on switching ever and I highly recommend them.

Banking And Insurance

Posted by: |

I love USAA for car insurance and checking account. However, they are not competitive with their savings and certificate of deposits. I have been with them for over thirty years and will remain loyal, I recently have transferred a vast majority of my liquid assets to higher yielding accounts at other more competitive institutions. USAA’s website and App are wonderful.

Brian Pettenger

USAA Fake Deposit Limits

Posted by: |

I've been using USAA banking for years and use ACH deposits from my brick & motor bank to fund the account and pay my bills from USAA. Everything was fine until 2 weeks ago, without notice USAA started to limit my ACH deposits from $5000 to $500 per day, and anything above $500 gets a 5 business day hold. I called customer service and was told there is nothing they can do, but I can wire transfer money without a hold. I'm not going to pay $25 wire transfer fees, so that ends my relationship with USAA banking.

Be Warned About This Insurance Company

Posted by: |

I learned the hard way after using USAA for banking and insurance that you can't have it all. Military for 16 years before they closed my account for fraud. Couldn't log in or access my funds and after multiple yelling matches with the customer service reps I finally got a call from the CEO. My husband and I left that bank/insurance company immediately for an FCU and haven't looked back. A year after that happened they sent me a check? However they kept charging me a fee and then reported it as overdue to the credit reporting bureaus which I didn't know what was going on for months because I had closed my accounts with them. When I paid the $3 or whatever it was I told them to lose my number and close my accounts for the umpteenth time, but I found out they have no way of removing your "member ID". Still to this day both my husband and I receive correspondence from them because they still keep us as "members". We left them over 6 years ago.

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Health

Health Grade Components

Overall
FDIC Certificate #32188
Year Established1983
Employees14949
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-0.16%
Return on Equity - YTD-4.93%
Annual Interest Income$1.35B
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$114B$111B
LoansQ1 2024vs Q1 2023$42.44B$40.31B
DepositsQ1 2024vs Q1 2023$100.6B$102.8B
Equity CapitalQ1 2024vs Q1 2023$3.62B$2.91B
Loan Loss AllowanceQ1 2024vs Q1 2023$1.59B$1.45B
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$312MM$238MM
Real Estate OwnedQ1 2024vs Q1 2023$1,000K$1,000K
Rates
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Always verify rates and promotions with the bank or credit union. We are not USAA Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

USAA Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%*$500k*- USAA Performance First Savings
OTHER TIERS: 0.05% $0 - $10k | 0.10% $10k - $50k | 0.90% $50k - $100k | 1.00% $100k - $250k | 1.10% $250k - $500k
0.01%$0- USAA Savings
0.01%$0-Youth Savings

USAA Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.01%$1k-USAA Classic Checking

USAA Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.90%$1k$95k182 Day CD - Standard
4.90%$95k$175k182 Day CD - Jumbo
4.90%$175k-182 Day CD - Super Jumbo
4.75%$1k$95k270 Day CD - Standard
4.75%$95k$175k270 Day CD - Jumbo
4.75%$175k-270 Day CD - Super Jumbo
4.65%$1k$95k1 Year CD - Standard
4.65%$95k$175k1 Year CD - Jumbo
4.65%$175k-1 Year CD - Super Jumbo
4.55%$1k$95k15 Month CD - Standard
4.55%$95k$175k15 Month CD - Jumbo
4.55%$175k-15 Month CD - Super Jumbo
4.45%$1k$95k18 Month CD - Standard
4.45%$95k$175k18 Month CD - Jumbo
4.45%$175k-18 Month CD - Super Jumbo
4.25%$1k$95k2 Year CD - Standard
4.25%$95k$175k2 Year CD - Jumbo
4.25%$175k-2 Year CD - Super Jumbo
2.75%$1k$95k30 Month CD - Standard
2.75%$1k$95k3 Year CD - Standard
2.75%$95k$175k30 Month CD - Jumbo
2.75%$95k$175k3 Year CD - Jumbo
2.75%$175k-30 Month CD - Super Jumbo
2.75%$175k-3 Year CD - Super Jumbo
2.50%$1k$95k4 Year CD - Standard
2.50%$1k$95k5 Year CD - Standard
2.50%$95k$175k4 Year CD - Jumbo
2.50%$95k$175k5 Year CD - Jumbo
2.50%$175k-4 Year CD - Super Jumbo
2.50%$175k-5 Year CD - Super Jumbo
2.02%$1k$95k7 Year CD - Standard
2.02%$95k$175k7 Year CD - Jumbo
2.02%$175k-7 Year CD - Super Jumbo
0.05%$1k$95k91 Day CD - Standard
0.05%$1k$95k7 Month CD - Standard
0.05%$95k$175k30 Day CD - Jumbo
0.05%$95k$175k91 Day CD - Jumbo
0.05%$95k$175k120 Day CD - Jumbo
0.05%$95k$175k150 Day CD - Jumbo
0.05%$95k$175k7 Month CD - Jumbo
0.05%$175k-30 Day CD - Super Jumbo
0.05%$175k-91 Day CD - Super Jumbo
0.05%$175k-120 Day CD - Super Jumbo
0.05%$175k-150 Day CD - Super Jumbo
0.05%$175k-7 Month CD - Super Jumbo
0.01%$95k$175k3 Year CD - Jumbo Adjustable Rate
0.01%$1k$95k3 Year CD - Standard Adjustable Rate
0.01%$175k-3 Year CD - Super Jumbo Adjustable Rate
0.01%$95k$175k4 Year CD - Jumbo Adjustable Rate
0.01%$1k$95k4 Year CD - Standard Adjustable Rate
0.01%$175k-4 Year CD - Super Jumbo Adjustable Rate
0.01%$95k$175k5 Year CD - Jumbo Adjustable Rate
0.01%$1k$95k5 Year CD - Standard Adjustable Rate
0.01%$175k-5 Year CD - Super Jumbo Adjustable Rate
0.01%$95k$175k7 Year CD - Jumbo Adjustable Rate
0.01%$1k$95k7 Year CD - Standard Adjustable Rate
0.01%$175k-7 Year CD - Super Jumbo Adjustable Rate
0.01%$250-182 Day CD - Variable Rate
0.01%$250-1 Year CD - Variable Rate
Locations

USAA Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 10750 McDermott Freeway - San Antonio, TX 78288-0544

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.