USAA Bank

USAA Bank


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

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.

Related Posts

View all posts from:

6/11/13 - Itinerant Customers Embracing Mobile Banking Faster Than Military Banks Expected
9/30/11 - USAA Won’t Charge Extra Fees For Debit Card
9/2/11 - USAA CD Rates Fall 10 Basis Points On 5-Year Super-Jumbo
7/7/11 - USAA Bank Ends Debit Card Rewards Program
6/15/11 - USAA Bank Offers Direct Check Deposits At UPS Stores
3/10/11 - Do Not Have To Be In Military To Open CD
1/28/11 - USAA Bank's Growth - Focus Only On The Military?
1/27/11 - Top Jumbo Mid-Term CD Rates at USAA Bank - Available Nationwide
9/24/10 - USAA Bank Cuts CD Rates Again
9/10/10 - USAA Bank's CD Rates Fall
8/24/10 - USAA Bank's Long-Term CD Rate Cuts
8/6/10 - USAA Bank Increases 7-Year CD Rates - Best 7-Year CD Rates in the Nation
8/3/10 - Consent For Early Withdrawal For CD From USAA Bank
8/2/10 - USAA Bank Is Missing From My Lists Here...
7/23/10 - Top Jumbo Long-Term CDs at USAA Bank - Available Nationwide
7/10/10 - Interesting Incident At USAA Bank
5/19/10 - Your Postingon May 1
3/10/10 - My Husbandjust Rolled Over An IRA With USAA
8/4/09 - Competitive CD Rates at USAA Federal Savings Bank - Nationally Available
5/6/09 - 3.25% 2-Year CD at USAA Bank - Nationally Available but Membership Restrictions
4/22/09 - $100 Checking Account Bonus at USAA Bank - Nationally Available but Membership Restrictions
1/19/09 - 5.32% 7-Year CD at USAA Federal Savings Bank - Nationally Available but Membership Restrictions
12/6/08 - 5.32% 5-Year Jumbo CD at USAA Federal Savings Bank
2/5/07 - $150 Checking and Savings Account Promo at USAA
10/30/06 - High Yield Long-Term CDs at USAA Bank
8/12/06 - USAA Bank Update and Extra 1% Rate Special
5/18/06 - 5.71% Money Market Account for First 6 Months at USAA Bank
10/6/05 - Update on USAA Bank

Reviews (263)

Best Bank Ever

Posted by: |

I have a checking account and USAA limitless 2.5% cashback VISA credit card account.

The coolest feature about checking account is when you schedule fund transfer from external account to your account, the money is available instantly (I think up to certain amount, $5000?). For example, if I have $1000 on my USAA checking account and schedule a transfer for $1000 from another bank account, the available balance on USAA is $2000 instantly. The $1000 gets debited a few days later from the external bank account.

The 2.5% cashback credit card is no longer available but USAA allowed customers who already had them to keep them. I get cashback so much faster compared to 1% cashback cards.

Like Many Banks That Cater To Military...

...they are far more interested in LOANING you money than paying great deposit rates. But, good customer service and a range of products make USAA a solid choice. Though years ago the personalized service was the best, today it's at least better than the mega banks. You can't go wrong banking here but, you CAN do better with more personalized serviced elsewhere.

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.

USAA Allowed Fraud Even After Being Alerted To It

Posted by: |

My spouse and I separated in May 2021.my spouse filed for divorce in August of 2021. In September of 2021 my spouse intercepted my mail, opened it, removed a check made soley to me and addressed soley to me, and deposited it via mobile deposit into an account that was supposed to be closed but hadn't been because she was the primary and had left 4 cents in it and it sat silently with no notices coming to me regarding it. I received notice that a check of mine was in the mail and began a search for it, found that it had been deposited in the forementioned joint account and then immediately transferred to her private account. I contacted USAA and told them about the fraud. They said i would have to take it up in civil court. I told them freeze the account. They said they couldn't as i wasnt primary. They confirmed that the check was in my name yet signed with her name, and that they had notice of the separation/divorce yet allowed it to happen 3 more times and did nothing to stop it to a grand total of $2250 and its now june of 2022 and they are still refusing to make it right, get me the deposit pictures for court or law enforcement and generally have given me the run around. I just spent 3 hours on the phone with them talking to no less than 5 csr and was cut off twice with no callback after being cut off. Also the system suddenly doesn't recognize my membership number or social security number. And i cant receive texts with the security verification code they send for calls. Im going to be calling the attorney general's office in Austin tomorrow and maybe finally get the issue handled and be made whole for the fraud she committed with USAAs complicit passiveness.

VIEW MORE REVIEWS

Health
B+

Health Grade Components

Overall
FDIC Certificate #32188
Year Established1983
Employees15949
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.1%
Return on Equity - YTD1.62%
Annual Interest Income$886.0MM
Assets and Liabilities
AssetsQ1 2022vs Q1 2021$118.3B$121.7B
LoansQ1 2022vs Q1 2021$37.07B$38.73B
DepositsQ1 2022vs Q1 2021$110.3B$102.5B
Equity CapitalQ1 2022vs Q1 2021$5.83B$9.26B
Loan Loss AllowanceQ1 2022vs Q1 2021$761.0MM$1.03B
Unbacked Noncurrent LoansQ1 2022vs Q1 2021$199.0MM$265.1MM
Real Estate OwnedQ1 2022vs Q1 2021$2.0MM$2.1MM
Rates

Rates for USAA Bank are currently being reviewed.

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

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.