USAA Checking Account 2022 Review — Should You Open? | MyBankTracker

USAA Classic Checking Account Website USAA Classic Checking Account
USAA is a fiscal services company that was founded to serve members of the armed services and their families .
By limiting the customers that it accepts, USAA is able to focus on providing the best customer have possible .
USAA offers a diverseness of services, including indemnity, bank, investing and lend.

One of the accounts that USAA members can open is the USAA Classic Checking Account. This is a basic check account that charges no monthly fees and comes with a few extra features .
If you ’ rhenium patronize around for a checking account, this review will tell you everything you need to know about the USAA Classic Checking Account .

No Monthly Fees and Free ATMs Across the Country

The whole target of a check report is to give you a place to store your money, while however having a convenient way to access it .
The holocene rise in report fees makes it difficult to justify keeping money in a see account when banks will charge you for the prerogative .
USAA does not charge any monthly sustenance fees on its classical Checking Account, so you won ’ thymine have to worry about your counterweight decreasing over time .

USAA Classic Checking Account Pros & Cons

Pros Cons
  • No monthly maintenance fee
  • No minimum deposit required
  • Great mobile banking apps
  • Free ATMs nationwide with fee refunds
  • Special benefits for military personnel
  • Requires U.S. military affiliation
  • Very low interest rate
  • Very limited access to physical branches

To keep more of your money working for you, USAA takes the no-fee concept further. USAA has a net of 60,000 ATMs across the United States that you can use with no fees .
If you can ’ t find a fee-free ATM, USAA will reimburse up to $ 15 in ATM fees each argument, indeed retentive as those fees are charged by ATMs in the United States. USAA will not reimburse fees for ATMs outside the nation .
These two benefits mean that you ’ ll never wage for the privilege of accessing your own money. That lets you keep the money in the account and working for you .
The USAA Classic Checking Account is easy to open besides — requiring an initial deposit of merely $ 25 .
If you ’ re a new recruit to the military, even that prerequisite will be waived, letting you open the report with no situate at all .
once the history is open, there is no minimum balance wheel required to keep it afford. There ’ south besides no monthly fee on the account, so you don ’ t have to worry about fees causing your counterweight to shrink over clock time .

Benefits for Military Recruits

USAA is dedicated to providing fiscal services to members of the armed forces. So it ’ s no surprise that members of the military make a few extra benefits .
One benefit is that new recruits do not need to meet a minimum deposit to open the account .
If you ’ re precisely joining the military and do not have enough money to open a bank explanation, USAA understands and will help you get your fiscal life sentence going .
Another benefit for raw recruits is that USAA can give you your paycheck ahead of schedule .
If Defense Finance and Account Services sends USAA your pay information early, USAA will deposit the funds to your account early .
When it comes to your money, there ’ s no reason to let it sit in person else ’ second bill rather than yours. This benefit can put the money in your pouch barely a bite faster .

Interest Rates Are Not Impressive

Most check accounts do not pay much in interest, rather focusing on public toilet features that make the account easier to use .
The USAA Classic Checking Account is no different. You ’ ll earn a small total of interest, but it is not meaning enough to be a draw for the account .
besides, to earn interest, your account ’ south balance must be $ 1,000 or greater .
If you ’ re concerned about the tax return you can earn on your money, you ’ five hundred be better off opening a deliver explanation .

Overdraft Protection

Overdrafting on your checking report is one of the worse things that you can do with a checking account .
On crown of seeing your balance go veto, your bank will charge you a tip for spending money you don ’ thyroxine have. That causes your balance to go even farther in the red, making it difficult to dig out of the fiscal hole .
If you open a USAA Savings Account, you can set up overdraft security using the bill .
If you would overdraft your checking report, money will automatically be transferred from your savings account to cover the expense .
The best separate is that there is no fee for an overdraft transfer, so it ’ s a huge save over paying the overdraft fee .
This can save you the embarrassment of having your debit calling card declined, or from the annoyance of overdraft fees causing your account balance to go far into the negative .

ATM Access

USAA has a huge network of more than 60,000 ATMs across the United States, so you ’ ll never be far from a stead to get your cash.

still, there are always time when another ATM may be more convenient to use .
Oftentimes, these ATMs will charge a tip for the prerogative of using them. USAA wants to make certain that you can get cash when you need it, so you can get up to $ 15 in ATM fee reimbursed each instruction .

Other Fees

The USAA Classic Checking Account does charge some other fees, though you ’ re improbable to encounter most to them in your day to day life. Some of the fees that you might encounter are :

USAA Classic Checking Account Fees

Type Fee amount
Monthly Maintenance Fee $0
Out-of-Network ATM Fee $0 for the first 10 withdrawals per month
Overdraft Fee $25
Overdraft Transfer Fee $0
Returned Item $29
Stop Payment $29
Deposited Item Returned or Cashed Check Returned $5
Incoming Domestic Wire Transfer $0
Incoming International Wire Transfer $0
Cashiers Check $0

Other USAA Checking Options

If you ‘re interested in becoming a USAA bank consumer but are n’t sold on this checking out, consider one of these early see accounts besides offered by this bank :

USAA Cashback Rewards Checking

If you ‘re concerned in a check report that features cash back for purchases, then the USAA Cashback Rewards Checking is the account for you .
In addition to all of the capital features USAA offers their standard banking consumers, customers of this history can earn 10¢ on every debit wag leverage .
That may seem little, but if this score is your chief check report that ‘s used for bills, recurring purchases, an everyday spend, that 10 cents per buy will add up, and can be redeemed for some money back .
In addition to the cash-back rewards, this account includes :

  • No monthly maintenance fee
  • No minimum balance requirement
  • No out-of-network ATM fee for the first 10 transactions

One significant thing to note about this account, is that it’s only available in the following states : AL, AR, AZ, CO, CT, FL, GA, HI, ID, IL, IN, KS, LA, MD, MI, MN, MT, ND, NM, NV, NY, OR, PA, RI, SC, TN, TX and WA .
We ‘ve highlighted the chief fees and features of the account below :

USAA Rewards Checking Account Fees

Type Fee
Monthly Maintenance Fee $0
Minimum Opening Deposit $25
Non-USAA ATM $2 (waived 10x/month)
Overdraft Fee $25
Returned Item $29
Account Closing Fee $0
Overdraft Transfer Fee $0
Stop Payment $29
Deposited Item Returned $5
Domestic Wire Transfer (incoming) $0
International Wire Transfer (incoming) $0
Cashiers Check $5


The USAA Classic Checking Account offers a number of features that make it very commodious to use .
One of the main convenience features is its capital ATM access. With a huge ATM network and a generous ATM tip reimbursement plan, you ’ ll about never have to pay to withdraw cash from your account .
If you prefer to pay for things on-line rather of using cash, USAA offers loose bill pay up services. Just assure USAA who you have to pay and how a lot to pay them, and they ’ ll take wish of the rest .
That saves you the effort of writing out checks and mailing them in every calendar month .
You can manage your classic Checking Account in your local USAA branch or on-line .
USAA offers a smartphone app and network portal vein that lets you check your libra and see your transaction history. You can besides set up transfers, and access other features of the explanation on-line .

Eligibility Requirements

USAA was founded with members of the arm services in heed. To ensure that it can provide the best customer service it can, USAA restricts who is allowed to become a member of the institution .
Members of the follow groups are eligible to open accounts at USAA :

  • Active duty members of the Air Force, Army, Navy, Marines, or Coast Guard
  • Persons who retired or were honorably discharged from one of the above branches of the military
  • Spouses and children of a USAA member
  • Attendees of a US service academy
  • Students in advanced ROTC or attending college on a ROTC scholarship
  • Office candidates within 24 months of commissioning

People who are not in one of these groups can not open accounts at USAA. These restrictions help USAA concentrate on providing services tailored to the alone needs of members of the arm forces .

How Does It Compare?

The check report is the most common type of bank bill in the United States .
It ’ south easy to see why, given that they let you store your money safely, but distillery have comfortable access to it .
Because the check account is so popular, there are lots of options to choose from. You should take the time to make sure you find the correct match account for your needs .
When you are comparison patronize for a match account, it ’ south authoritative to look at options beyond the local branch of a national bank .
on-line banks are cheaper to run and they tend to pass those savings on to their customers with broken fees and good interest rates .
When comparing accounts, make certain to look at the fees you ’ ll be charged and how hard it is to get to your cash. besides look into the follow factors :

  • Minimum deposit
  • Monthly fee
  • Fee waiver requirements
  • Interest rates
  • ATM access

The Final Verdict

USAA is a capital bank for people who are eligible to open an score. It provides ace customer service and understands the unique needs that members of the arm forces have .
The authoritative Checking Account is a no-frills control report, so if you have basic check needs, it is a good choice.

It ’ south ATM tip reimbursements and extra features for military members give it a leg up on exchangeable accounts .
Where it falls curtly is in providing agio features like debit card rewards or high interest rates. Another bank may be able to provide a more agio experience if that is what you ’ rhenium looking for .
More: Best Checking Accounts of the year

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Category : Finance

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