![]() Services like overdraft protection and rejected debit card purchases (where other banks like to nickel-and-dime folks) are totally free. Plus, having skimmed their fee schedule for all account types, I couldn’t find any surprise “gotcha” fees. USAA Bank requires a $25 initial deposit for a checking account, but after that, there are no monthly service fees or account closing fees. So naturally, in the rare case USAA Bank even charges a fee, it’s usually well below the industry average. True to their roots, USAA Bank is not out to squeeze money out of military folks, but rather, make their lives easier. USAA is known for taking care of its people, so you shouldn’t hesitate to ask for assistance. Lastly, if you need to reach out to USAA’s strong customer service department, you can do so via instant messaging through the app or by calling them up the old-fashioned way. You have two options: USAA Cashback Rewards Checking or USAA Classic Checking. To start, the bank will ask you to open a checking account with a minimum $25 deposit. Once you’re approved for USAA, you can apply to open an account with USAA Bank. citizens, a passport or permanent resident card Details about you or your family member’s military service.Your date of birth, contact information, and Social Security number.Naturally, the first step to setting up accounts with USAA Bank is to get a USAA Membership. Even if you don’t bank or insure with USAA, a vanilla USAA membership is free and includes a host of lifetime benefits like sweeping discounts and complimentary financial advice. If you just learned that you’re probably eligible for a USAA membership, I’d strongly recommend you take advantage. Grandchildren of USAA members (if their parents were not members).However, the following groups are not eligible for USAA membership: Children and step-children of USAA members.Spouses, widows, widowers, and unremarried former spouses of USAA members.Active, retired, and separated veterans with a discharge type of “Honorable”.Generally speaking, that’s US Military personnel and their families. USAA Bank (and all USAA products) is open to anyone with a USAA Membership. Today, USAA Bank offers its members a variety of account types like checking, savings, and CDs, plus affordable loan options for cars, boats, and RVs. ![]() Since then, USAA has exploded into a Fortune 500 financial institution offering insurance, banking, investing, and other options to nearly 13 million military members and their families nationwide. So in 1922, 25 military officers launched USAA with the goal of providing military folks and their families an affordable coverage option. In the early 20th century, insurance companies perceived military personnel as innately higher risk and charged them out the wazoo for insurance. USAA stands for United Services Automobile Association. So is USAA Bank as desirable as its insurance arm? What specific perks can they offer military personnel? What products do they offer, and how are their interest rates these days? The question is, should you?Īnyone familiar with USAA auto insurance might immediately think, “hell yeah.” That’s because USAA auto insurance is pretty awesome, offering rock-bottom rates, superb customer service, and military-specific perks and discounts. If you’re in the US Military or you’re in a military family, you’re probably eligible to bank with USAA Bank.
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