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USAA Federal Savings Bank Review

Updated May 6, 2025
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At a glance

Overview

USAA Federal Savings Bank is a good fit for military personnel, veterans and their families and prefer online and mobile banking, and want access to over 100,000 ATMs without a fee.

Highlights:

ATM Fee Refunds Digital Leader Low Fees
4.0
Rating: 4 stars out of 5
Bankrate Score
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CDs

Rating: 3.6 stars out of 5
3.6 /5

Checking

Rating: 4.7 stars out of 5
4.7 /5

Savings

Rating: 3 stars out of 5
3.0 /5
Sponsored offers
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These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
3.60
%
APY
APY
Info Icon
As of 5/19/2025
Rating: 4.4 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: It only takes about 5 minutes to open a fee-free account.
Bank logo
Member FDIC
Savings Account
4.10
%
APY
APY
Info Icon
As of 5/19/2025
Rating: 4.6 stars out of 5
$5,000
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: Get up to a $300 Cash Bonus. See site for details.
Bank logo
Member FDIC
Savings Account
4.30
%
APY
APY
Info Icon
As of 5/19/2025
Rating: 5 stars out of 5
$0
Min. balance for APY
View offer Arrow Right Icon
Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money

Overall

USAA Federal Savings Bank is a federally-insured, members-only online bank that offers checking and savings accounts, CDs, credit cards, mortgages and other loans. The bank provides a large network of free ATMs as well as ATM fee rebates, yet account yields are low, and minimum balance requirements are often high.

Pros

  • Checkmark Icon

    USAA FSB offers a full range of deposit and loan products.

  • Checkmark Icon

    The mobile app has useful features and positive reviews from iOS and Android users.

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    USAA Bank offers generous free access to ATMs and minimal out-of-network ATM fees. ATM fee reimbursements are also available.

Cons

  • USAA has just four brick-and-mortar locations.

  • If you don’t have a link to the military, you won’t qualify for membership.

  • Yields on deposits are not impressive, and it's easier to find higher yields elsewhere.

USAA banking products

USAA savings overview

3.0
/5
Rating: 3 stars out of 5
SCORE BREAKDOWN
APY offering:
0.01%
Rating: 1 stars out of 5
1/5
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Minimum balance for APY:
$0.00
Rating: 5 stars out of 5
5/5
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Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
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Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
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Access to funds:
Great
Rating: 5 stars out of 5
5/5
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Pros

  • Checkmark Icon

    There are no monthly service fees on USAA savings accounts.

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    Performance First account holders can earn more with bigger balances.

  • Checkmark Icon

    USAA offers the option to get an ATM card with its savings accounts.

Cons

  • There’s a $1,000 minimum opening deposit requirement for the Performance First account.

  • You can find higher APYs elsewhere, especially at other online banks.

Rate history for USAA's Savings account

See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

USAA
APY
APY
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National average APY
How do we get this data?
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USAA CD overview

3.6
/5
Rating: 3.6 stars out of 5
SCORE BREAKDOWN
APY offering:
2.00%
Rating: 3 stars out of 5
3/5
Info Icon
Minimum deposit:
$1,000.00
Rating: 4 stars out of 5
4/5
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Range of term lengths:
3 mos – 5 yrs
Rating: 5 stars out of 5
5/5
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Early withdrawal penalty:
Average
Rating: 3 stars out of 5
3/5
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Offer no-penalty or bump-up CDs:
No
Rating: 0 stars out of 5
0/5
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Offer IRA CDs:
No
Rating: 0 stars out of 5
0/5
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Pros

  • Checkmark Icon

    USAA offers a wide range of CD terms, ideal for many types of saving goals or to build a CD ladder.

  • Checkmark Icon

    Opening deposit requirements are reasonable.

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    Some terms pay competitive yields.

Cons

  • There are no penalty-free CD products available.

  • You can find more competitive rates elsewhere.

Rate history for USAA's CD accounts

See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.

USAA
APY
APY
Info Icon
National average APY
Caret Down Icon
How do we get this data?
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USAA checking overview

4.7
/5
Rating: 4.7 stars out of 5

Pros

  • Checkmark Icon

    Classic Checking account holders can earn interest on balances of $1,000 or more.

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    There are no monthly service fees.

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    Checking customers have access to a large ATM network.

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    You can get up to $10 a month in fee reimbursements for using out-of-network ATMs.

Cons

  • The APY on the Classic Checking account is below average.

  • There’s a $29 overdraft fee.

Bank fees

Fee Charged?
Overdraft fee $29
Non-sufficient funds fee None
Account maintenance fees None
Out-of-network ATM fee None
Stop payment fee $29

Customer experience

Customer support

Customer service. Customers can reach USAA support via phone, mail or virtual assistant. And though USAA only has one branch in Texas, it also maintains several “financial centers” where you can get help. Lobby hours are 9 a.m. to 5 p.m. CT, Monday through Friday. They are closed Saturday and Sunday. 

“USAA has fantastic customer service representatives,” said a Bankrate staff member with a USAA account. “There are relatively short wait times and longer service operating hours, which is very helpful compared to other banks where you have to call between 8 a.m. to 5 p.m.”

Special perks. USAA members get access to special perks, including deals on cruises, resorts, rental cars, Turbo Tax and more. “I have taken advantage of these perks on multiple occasions, which has saved me hundreds of dollars,” said a Bankrate staff member. 

Digital experience

Highly rated app. USAA’s mobile app, highly rated on both Apple and Google Play, lets you take care of everyday transactions, such as depositing checks, paying bills and using digital wallets like Google Pay. You can send money person to person with Zelle. 

The app also features a digital assistant that can answer questions or put you in touch with a USAA bank representative. And there’s an Advice Center where you can explore articles by topic and get advice on your finances. 

Outdated UI. Although USAA’s app is highly rated and easy to use, the user interface looks a bit outdated compared to other banks’ mobile apps and websites, according to a Bankrate staff member. Moreover, finding some documents and account statements can be a challenge, as they are hidden within the setting. 

“I’ve also had issues setting up automatic payments online,” said a Bankrate staff member. “I have to call customer service in order to modify or cancel my automatic payment schedule. And you can’t change your password or pin within the app — you must go on USAA’s website.”

Centralized digital banking. USAA also stands out for letting members pull in all of their USAA and non-USAA financial accounts into one portal to customize their budget and track their spending.

Wide ATM network. You likely won’t be banking at a traditional branch, but USAA does provide access to more than 100,000 ATMs that members can use for free.

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Bankrate staff insights

“My banking experience with USAA has been seamless,” said a Bankrate staff member. “For more complex questions or certain changes to your account, you do have to call customer service, which may be inconvenient for some people. However, USAA is the one service phone call I don’t dread making because their representatives are so personable, and they are open after normal business hours, so I am able to resolve my issues in a timely manner.”

Disclosure: To enhance our product reviews, Bankrate employees often open accounts and provide feedback. They may have been compensated for their time and account maintenance, but this does not affect the integrity of their review.

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Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.