USAA Bank

USAA Bank


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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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 (248)

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.

Wish They Had More Locations

Posted by: |

I do really like USAA, don't get me wrong there are minimal fees and most of my banking I've done online with them but since they've closed several of their branches I've had to open up another bank account so that I'm able to have the ability to deposit cash from time to time. I remember when I got the notice that they were closing a branch that was relatively close to my house, they said they were going to expand their deposit taking ATM access but I haven't really seen this "expansion".

Overall though if you need to withdraw cash from an ATM they have a great network that are no fee, and on the occasion you are charged a fee they will reimburse you up to their monthly cap which is nice.

Their online interface is probably the best of the banks and credit unions I do business with, and when using their bill pay payments seem to post quicker from them as compared to the credit union.

Looks Like USAA Has Lost An IRA Account

Posted by: |

I'm a recent USAA customer due to inheriting 2 traditional IRAs from my mother, along with my sisters.
The turnover to us began in December and only 1 of the IRAs shows on our account listings. When asked about the other one, we were told it was not showing up due to: an IT problem.

Is this a thing with USAA? Not good for a financial institution.

Also have a complaint regarding a penalty we now owe for late disbursement, but that will be another post.

Becoming Member Nightmare

Posted by: |

I recently enrolled into USAA. I opened a savings account and moved several thousand into that account. I talked to a financial adviser and created an IRA into which to rollover my 401k. I then initiated the rollover, which hadn't occurred at the time that this happened.

This morning I attempted to login and found that I was locked out. I contacted support and after MANY handoffs I learned that USAA has decided that I was doing something fraudulent. They will do no business with me, and they won't explain the decision. And there is no way to have them reconsider that decision. They closed all accounts and restricted all access.

So now I have 10,000 in a savings account that I can't reach and I had a rollover started into this IRA. Fortunately I was able to cancel the rollover. What a nightmare this would have been had the rollover been done.

When they decided to cancel my account they made no effort to reach out to me. What a mess!

They told me on the phone that it was not possible to tell me why they think I am doing something fraudulent. Everything I told them was 100% truthful.

Also, their web software is extremely buggy. I attempted three separate operations online on three separate days. All three operations failed due to buggy software (becoming a member, opening savings account, changing profile). I kept encountering pages in which the "Next" button would not work. All three operations had to be done via phone. I complained about the terrible software and think that my complaints may have prompted my problems.

Was on the phone many times and spent most of that time listening to their USAA jingle.

I strongly suggest that you avoid USAA. This was my biggest mistake in many years.

One last consideration. When you deposit money in bank you expect it to be available. My 10,000 is not available. A rep told me that she could not tell me when it would be returned. Could not tell me if it would ever be returned.

Why put money in a bank when the bank acts as if it was there own. I wouldn't leave my money there either. They cannot be trusted!

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Health

Health Grade Components

Overall
FDIC Certificate #32188
Year Established1983
Employees13358
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.83%
Return on Equity - YTD8.65%
Annual Interest Income$4.31B
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$88.80B$81.60B
LoansQ4 2019vs Q4 2018$48.43B$46.49B
DepositsQ4 2019vs Q4 2018$77.73B$71.93B
Equity CapitalQ4 2019vs Q4 2018$8.38B$7.92B
Loan Loss AllowanceQ4 2019vs Q4 2018$786.7MM$773.9MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$376.9MM$378.0MM
Real Estate OwnedQ4 2019vs Q4 2018$2.3MM$2.1MM
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.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

USAA Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.90%*$1m*- USAA Performance First Savings
OTHER TIERS: 0.05% Up to $10k | 0.15% $10k - $25k | 0.20% $25k - $50k | 0.30% $50k - $100k | 0.41% $100k - $250k | 0.60% $250k - $500k | 0.80% $500k - $1m
0.10%*$10k*- USAA Savings
OTHER TIERS: 0.05% Up to $10k
0.10%*$10k*-Youth Savings
OTHER TIERS: 0.05% Up to $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
1.29%$1k$95k5 Year CD - Standard
1.29%$95k$175k5 Year CD - Jumbo
1.29%$175k-5 Year CD - Super Jumbo
1.20%$1k$95k4 Year CD - Standard
1.20%$95k$175k4 Year CD - Jumbo
1.20%$175k-4 Year CD - Super Jumbo
1.15%$1k$95k3 Year CD - Standard
1.15%$95k$175k3 Year CD - Jumbo
1.15%$175k-3 Year CD - Super Jumbo
1.02%$1k$95k30 Month CD - Standard
1.02%$95k$175k30 Month CD - Jumbo
1.02%$175k-30 Month CD - Super Jumbo
0.91%$1k$95k2 Year CD - Standard
0.91%$95k$175k2 Year CD - Jumbo
0.91%$175k-2 Year CD - Super Jumbo
0.85%$1k$95k18 Month CD - Standard
0.85%$95k$175k18 Month CD - Jumbo
0.85%$175k-18 Month CD - Super Jumbo
0.82%$1k$95k15 Month CD - Standard
0.82%$95k$175k15 Month CD - Jumbo
0.82%$175k-15 Month CD - Super Jumbo
0.70%$1k$95k1 Year CD - Standard
0.70%$95k$175k1 Year CD - Jumbo
0.70%$175k-1 Year CD - Super Jumbo
0.49%$1k$95k7 Year CD - Standard
0.49%$95k$175k7 Year CD - Jumbo
0.49%$175k-7 Year CD - Super Jumbo
0.36%$1k$95k182 Day CD - Standard
0.36%$1k$95k7 Month CD - Standard
0.36%$1k$95k270 Day CD - Standard
0.36%$95k$175k182 Day CD - Jumbo
0.36%$95k$175k7 Month CD - Jumbo
0.36%$95k$175k270 Day CD - Jumbo
0.36%$175k-182 Day CD - Super Jumbo
0.36%$175k-7 Month CD - Super Jumbo
0.36%$175k-270 Day CD - Super Jumbo
0.23%$95k$175k150 Day CD - Jumbo
0.23%$175k-150 Day CD - Super Jumbo
0.16%$95k$175k120 Day CD - Jumbo
0.16%$175k-120 Day CD - Super Jumbo
0.08%$1k$95k91 Day CD - Standard
0.08%$95k$175k30 Day CD - Jumbo
0.08%$95k$175k91 Day CD - Jumbo
0.08%$175k-30 Day CD - Super Jumbo
0.08%$175k-91 Day CD - Super Jumbo

USAA Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.29%$95k$175k5 Year IRA - Jumbo
1.29%$250$95k5 Year IRA - Standard
1.29%$175k-5 Year IRA - Super Jumbo
1.20%$95k$175k4 Year IRA - Jumbo
1.20%$250$95k4 Year IRA - Standard
1.20%$175k-4 Year IRA - Super Jumbo
1.15%$95k$175k3 Year IRA - Jumbo
1.15%$250$95k3 Year IRA - Standard
1.15%$175k-3 Year IRA - Super Jumbo
0.91%$95k$175k2 Year IRA - Jumbo
0.91%$250$95k2 Year IRA - Standard
0.91%$175k-2 Year IRA - Super Jumbo
0.70%$95k$175k1 Year IRA - Jumbo
0.70%$250$95k1 Year IRA - Standard
0.70%$175k-1 Year IRA - Super Jumbo
0.49%$95k$175k7 Year IRA - Jumbo
0.49%$250$95k7 Year IRA - Standard
0.49%$175k-7 Year IRA - Super Jumbo
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

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.