Offering banking services since the 80s, USAA Bank caters to military members and their families. This midsize bank provides checking, savings, certificates of deposit (CDs) and various lending products — all the trimmings of a typical bank. It also has a very large ATM network of over 100,000, offers early direct deposit and supports Zelle. However, while there are no membership fees, you must become a USAA member to access their products.
Best for: Military members and their families.
USAA Federal Savings Bank, or just USAA Bank, states they are member-owned, but they’re not a credit union. It’s an FDIC-insured, traditional bank. If you prefer in-person support, it has a few “Financial Centers” in Colorado, Maryland, New York and Texas.
However, not everyone can join. USAA Bank membership is available to active duty National Guard and Reserve members, veterans, cadets, midshipman and their immediate family members.
USAA Bank is among the top 20 banks in the US by asset size. So, while it’s much smaller than the Big Four banks like Chase or Wells Fargo, it’s still a big player in the industry.
Offering bank accounts, loans and insurance products, USAA is a traditional bank with traditional offerings. However, its savings rates are below average unless you can maintain a high balance on its Performance First Savings account to get its 1.10% APY.
Its checking accounts are just fine, providing early direct deposit, ATM reimbursements, a large ATM network and USAA is integrated with Zelle.
USAA Bank has membership requirements but a decent number of perks.
USAA simply isn’t the right bank for everyone.
You’ve got a few checking account options with USAA.
USAA offers three savings accounts — but none have APYs that will knock your socks off. As you’re comparing rates, remember that the national average rate on savings accounts is 0.42%, as reported by the FDIC.(1)
A classic savings product, CDs “lock” your funds away for a set term to earn interest. At the end of the term, you can withdraw your deposit and earnings.
Most banks require at least $1,000 to open a CD, and USAA also follows that trend, requiring a minimum $1,000 deposit for standard CDs, $95,000 for jumbo CDs or $175,000 for super jumbo.
One of the best CD offerings is the standard, jumbo or super jumbo CD for a term of 182 days with a 2.25% APY.
The Finder Score crunches over 250 savings accounts from hundreds of financial institutions. It takes into account the product's interest rate, fees, opening deposit and features - this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of savings accounts against FDIC-reported national averages as a baseline. Accounts with rates well over the national average are scored the highest, while accounts with rates well below are scored low.
The Finder Score analyzes hundreds of CDs from more than 100 institutions. It takes into account the product's interest rate for available terms and opening deposit requirements - this gives you a simple score out of 10.
Different banks and credit unions offer CDs for various lengths of time, ranging from as short as seven days to as long as 20 years. For our ratings, we consider the term lengths that the FDIC uses in its monthly updates on national rates.
If a bank or credit union doesn’t offer a CD for a specific term used by the FDIC, we don’t penalize it: Instead, we simply don’t rate it. Each of the standard term lengths has its own APY rating based on the FDIC’s average rates.
The Finder Score crunches over 300 checking accounts from hundreds of financial institutions. It takes into account the product's monthly fees, overdraft fees, opening deposit, customer support options, ATM network and features — this gives you a simple score out of 10.
To provide a Score, Finder’s banking experts analyze hundreds of checking accounts against what we consider is the best option: no monthly fees, no overdraft fees, a large ATM network of 50,000 or more, additional features outside of typical banking services, and the optional perk of earning interest. Accounts that are nearly free to maintain and use are scored the highest, while accounts with costly fees and few features are scored the lowest.
| BBB accredited | No |
|---|---|
| BBB rating | A+ |
| BBB customer reviews | 1.16 out of 5 stars, based on 2327 customer reviews |
| Trustpilot score | 1.2 out of 5 stars, based on 3,218 customer reviews |
| Apple App Store Score | 4.8 out of 5 stars, based on 1,900,000 customer reviews |
| Google Play Score | 4.7 out of 5 stars, based on 306,518 customer reviews |
| Customer reviews verified as of | 25 February 2025 |
USAA offers a lot of products and services, and one of its flagship products is insurance — which is what most of its reviews are about. And speaking of, reviews aren’t great.
Trustpilot reviews are very varied, but a few commonalities include complaints about rising insurance rates, unhappiness with mortgage processes, costly bank account fees and negative experiences with customer service representatives. Another main theme is past USAA customers warning other military members to stay away from the bank.
On the Better Business Bureau (BBB), it has over 1,000 complaints, but that’s typical for a company of its size. Most complaints are typical, such as locked accounts, issues with deposits, attempts to resolve fraudulent charges and charge disputes. USAA takes time to respond to these complaints, helping USAA defend that A+ BBB rating.
A low-fee savings account with low APY.
Help your child gain financial footing with this interest-bearing account from a top-rated bank.
USAA has competitive rates, but you’ll have to become a member.
If you or your family is affiliated with the US military, you can enjoy USAA Bank’s free checking account that offers 60,000 free ATMs, $0 fees and a secure app to easily manage your money.