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USAA Bank

USAA Bank

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
1.11%5-year CD5 Year CD - Super Jumbo
0.96%3-year CD3 Year CD - Super Jumbo
1.11%6+ Year CD7 Year CD - Super Jumbo

Overview / Commentary
800-531-8722
10750 Robert F McDermott Fwy
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

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11/16/11 - Inflation Dangerous Banks - Those That Could Refuse CD Early Withdrawals
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
7/8/11 - USAA Bank Announces the End of Its Debit Card Reward Program
7/7/11 - USAA Bank Ends Debit Card Rewards Program
6/15/11 - USAA Bank Offers Direct Check Deposits At UPS Stores
6/11/11 - Banking From Your Phone: 5 Cool Banking Apps for Your Smart Phone
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
1/13/11 - Best Checking Accounts with Focus on Features Rather Than Rates
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
9/10/05 - USAA Bank - The Willy Wonka of Banks

Reviews (168)

User Friendly Online Bank

I've been a customer of USAA for nine years. I currently have multiple checking and savings accounts with them. USAA makes it easy to open new accounts in order to better budget your money. I've had one occasion of someone getting into my account and USAA's customer service was top notch and took care of everything for me quickly and efficiently. I truly feel like a valued customer. They also refund all ATM fees and have no minimum balance fees. I can't recall ever being charged a fee on my checking or saving accounts. Their website an app are user friendly and intuitive. The one negative is that their interest rates are nothing to write home about. Overall, I feel like you can't get any better than USAA.

Reliable, Easy to Use Banking

Posted by: Kaesterie | 10 hours ago

I have been a member with USAA for about 14 years and have never had bad banking experience through them. My entire immediate family members are also USAA members who have been happy with their banking services. There are no minimum checking and savings account requirements and no monthly or yearly fees as well as no overdraft feels. Even though there is no physical bank to go to, they have a fantastic online system as well as an application in which you can scan checks to deposit them immediately. I use the scanning feature on a consistent basis and have never had an issue. Whenever I have had questions the customer service representative have been very friendly and informative. I think the only complaint I have is their hours in which you can reach a representative. Overall all have had great service and will be using them for a long time to come.

My Experience with USAA

Overall I'm quite satisfied with USAA. The call center is reasonably quick and efficient. The bill pay feature saves me a lot of time and helps me keep track of my spending. Whenever I've had questions or concerns, a friendly agent has been able to answer most questions without having to put me on hold. When one of the customer service agents has needed to research something, they will call me back rather than leaving me on hold listening to dreadful hold music.

The account summaries are clear and legible. I don't have to go rooting around to find information. The web interface is very useable and I can easily find my way around the site.

The interest rates are quite low, but that's more a function of the disfunctional market system we've adopted in this country. I don't generally trust banks (and who would given the market crash and abysmal response) and I'm always a tad suspicious, but I feel that USAA is genuinely trying to be a good actor.

USAA from good to bad.

I joined up with USAA way back in 2006 after my parents having been customers for at least a decade. Originally I joined up for car insurance but quickly went on to get a savings, checking and credit card account in addition.

Originally USAA was the best. I had worked for various banks (that I would never recommend) so I felt like I was able to appropriately judge their practices. The fees used to be very low, the customer service was personable and helpful and the benefits at the time were great. My associated debit cards had rewards on them and the interest was high compared to any other bank.

About 5 years ago customer service started going down hill. Random fees started showing up (and again I worked in banking so I always made sure to read the fine print, this wasn't a case of me just not knowing). I'd contact their customer service for a variety of reasons and suddenly the formerly helpful and friendly staff was cold, nasty and not interested in helping anyone. I had set up my car insurance to take monthly automatic drafts from my associated USAA checking account and not had an issue for ears about that. Several years ago the draft didn't come out despite there being enough money in the account. I was not notified that the draft did not come out, a month or so later I got a notice in the mail that my car insurance had been completely cancelled, and I owed xyz amount. Despite hours going in circles with customer service no one could tell me why they did not notify me, as a 10 years customer of the bank on either end that there was an issue with the draft out of the same bank, and how it was legal to cancel my car insurance without any sort of warning.

Shortly after I started having issues with my credit cards also through USAA, the interest rate went up to something like 45% despite not missing payments and were eventually closed down. Anytime I went in to pay any of this the website directed me back and said they could not accept payment or there was a glitch.

After several years of putting up with this I eventually left and stopped recommending USAA to friends and family.

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Health

Health Grade Components

Overall
FDIC Certificate #32188
Year Established1983
Employees7300
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.94%
Return on Equity - YTD10.99%
Annual Interest Income$869.8MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$81.28B$75.06B
LoansQ1 2017vs Q1 2016$45.67B$44.79B
DepositsQ1 2017vs Q1 2016$72.87B$67.26B
Equity CapitalQ1 2017vs Q1 2016$6.88B$6.47B
Loan Loss AllowanceQ1 2017vs Q1 2016$858.2MM$761.1MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$426.6MM$426.5MM
Real Estate OwnedQ1 2017vs Q1 2016$2.4MM$4.2MM
Rates
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* 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
0.30%*$50k*- USAA Performance First Savings
OTHER TIERS: 0.05% Up to $10k | 0.20% $10k - $25k | 0.25% $25k - $50k
0.15%*$10k*- USAA Savings
OTHER TIERS: 0.05% Up to $5k | 0.10% $5k - $10k

USAA Bank Checking Account Rates

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

USAA Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.11%$95k$175k5 Year CD - Jumbo
1.11%$95k$175k7 Year CD - Jumbo
1.11%$175k-5 Year CD - Super Jumbo
1.11%$175k-7 Year CD - Super Jumbo
1.06%$1k$95k5 Year CD - Standard
1.06%$1k$95k7 Year CD - Standard
1.00%$95k$175k4 Year CD - Jumbo
1.00%$175k-4 Year CD - Super Jumbo
0.96%$95k$175k3 Year CD - Jumbo
0.96%$175k-3 Year CD - Super Jumbo
0.95%$1k$95k4 Year CD - Standard
0.91%$1k$95k3 Year CD - Standard
0.90%$95k$175k30 Month CD - Jumbo
0.90%$175k-30 Month CD - Super Jumbo
0.86%$95k$175k2 Year CD - Jumbo
0.86%$175k-2 Year CD - Super Jumbo
0.85%$1k$95k30 Month CD - Standard
0.81%$1k$95k2 Year CD - Standard
0.81%$95k$175k18 Month CD - Jumbo
0.81%$175k-18 Month CD - Super Jumbo
0.76%$1k$95k18 Month CD - Standard
0.76%$95k$175k1 Year CD - Jumbo
0.76%$95k$175k15 Month CD - Jumbo
0.76%$175k-1 Year CD - Super Jumbo
0.76%$175k-15 Month CD - Super Jumbo
0.71%$1k$95k1 Year CD - Standard
0.71%$1k$95k15 Month CD - Standard
0.71%$95k$175k270 Day CD - Jumbo
0.71%$175k-270 Day CD - Super Jumbo
0.66%$1k$95k270 Day CD - Standard
0.61%$95k$175k182 Day CD - Jumbo
0.61%$95k$175k7 Month CD - Jumbo
0.61%$175k-182 Day CD - Super Jumbo
0.61%$175k-7 Month CD - Super Jumbo
0.56%$1k$95k182 Day CD - Standard
0.56%$1k$95k7 Month CD - Standard
0.50%$95k$175k150 Day CD - Jumbo
0.50%$175k-150 Day CD - Super Jumbo
0.48%$95k$175k5 Year CD - Jumbo Adjustable Rate
0.48%$175k-5 Year CD - Super Jumbo Adjustable Rate
0.48%$95k$175k7 Year CD - Jumbo Adjustable Rate
0.48%$175k-7 Year CD - Super Jumbo Adjustable Rate
0.46%$250-182 Day CD - Variable Rate
0.46%$250-1 Year CD - Variable Rate
0.45%$95k$175k120 Day CD - Jumbo
0.45%$175k-120 Day CD - Super Jumbo
0.43%$1k$95k5 Year CD - Standard Adjustable Rate
0.43%$1k$95k7 Year CD - Standard Adjustable Rate
0.36%$95k$175k4 Year CD - Jumbo Adjustable Rate
0.36%$175k-4 Year CD - Super Jumbo Adjustable Rate
0.35%$95k$175k91 Day CD - Jumbo
0.35%$175k-91 Day CD - Super Jumbo
0.31%$1k$95k4 Year CD - Standard Adjustable Rate
0.30%$1k$95k91 Day CD - Standard
0.22%$95k$175k30 Day CD - Jumbo
0.22%$175k-30 Day CD - Super Jumbo
0.17%$95k$175k3 Year CD - Jumbo Adjustable Rate
0.17%$175k-3 Year CD - Super Jumbo Adjustable Rate
0.12%$1k$95k3 Year CD - Standard Adjustable Rate

USAA Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.11%$95k$175k5 Year IRA - Jumbo
1.11%$175k-5 Year IRA - Super Jumbo
1.11%$95k$175k7 Year IRA - Jumbo
1.11%$175k-7 Year IRA - Super Jumbo
1.06%$250$95k5 Year IRA - Standard
1.06%$250$95k7 Year IRA - Standard
1.00%$95k$175k4 Year IRA - Jumbo
1.00%$175k-4 Year IRA - Super Jumbo
0.96%$95k$175k3 Year IRA - Jumbo
0.96%$175k-3 Year IRA - Super Jumbo
0.95%$250$95k4 Year IRA - Standard
0.91%$250$95k3 Year IRA - Standard
0.86%$95k$175k2 Year IRA - Jumbo
0.86%$175k-2 Year IRA - Super Jumbo
0.81%$250$95k2 Year IRA - Standard
0.76%$95k$175k1 Year IRA - Jumbo
0.76%$175k-1 Year IRA - Super Jumbo
0.71%$250$95k1 Year IRA - Standard
Locations

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