USAA Bank serves military members and their families, providing products and guidance for their insurance, banking, investment and retirement needs. Banking products offered by the members-only organization include checking accounts, credit cards, auto loans and mortgages. If you’re considering opening a USAA Classic Checking account, keep reading this review to find out if it’s the best online checking account for you.
|USAA Classic Checking Account at a Glance|
|Minimum Opening Deposit||$25, waived for new recruits|
|Monthly Service Fee||$0|
|Interest Rate||0.01% APY on accounts with a daily balance of $1,000 or more|
|ATM Service Fee||$0 for first 10 ATM withdrawals; $2 each for subsequent withdrawals|
In this review:
- What You Need to Know About USAA Classic Checking
- Best Features of USAA Classic Checking
- Should You Open a USAA Classic Checking Account?
In order to open a checking account with USAA, you will need to be a member. Membership is open to U.S. military members and eligible family members. If you qualify for membership, you can enjoy free checking with a USAA Bank account for as little as $25 to start.
Best for: Military members and their family members who want a checking account with no fees.
In addition to having no minimum balance requirement or monthly fees and a low minimum opening deposit, USAA Classic Checking has a couple of perks that you won’t find at some other banks:
- Free ATMs nationwide
- Free mobile tools
Free ATMs Nationwide
Not only will you get unlimited free withdrawals at any USAA Bank-owned ATM, but you’ll also get 10 free ATM withdrawals each month at ATMs outside the network. If the outside bank charges a usage fee, USAA will refund you up to $15. Any subsequent withdrawals are subject to a $2 charge.
Free Mobile Tools
USAA Classic Checking account holders have access to a number of free mobile tools for easy payments and money management. These tools include:
- Apple Pay, Google Pay and Samsung Pay
- Special offers and discounts available in the mobile app’s “wallet”
- Quick and easy access to balances
- Mobile bill pay
- Virtual assistant services
- Budgeting tools
- Customizable spending alerts
Other USAA Checking Accounts
In addition to the Classic Checking account, USAA offers three specialized checking accounts:
- USAA Classic Checking for Military Recruits
- Youth Spending
- USAA Classic Checking for College Students
The bank no longer offers the USAA Cashback Rewards Checking account.
If you are an eligible USAA member, the Classic Checking Account is a good option for those who don’t want to have to worry about paying a monthly fee or maintaining a minimum balance. Being able to withdraw from any ATM without paying a fee is also a huge perk with this account. All these benefits will help you increase the money you’re saving. Although USAA customer service can be reached via phone 24 hours a day, seven days a week, if you want in-person support your options are more limited — USAA only has limited locations in Colorado, New York, Maryland and Texas — so this might not be the best option for in-person banking.
Click through to read more about the best military banks and credit unions of 2018.
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