USAA Federal Savings Bank Review 2023
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At a glance

CDs
Checking
Savings
About Bankrate Score
Overview
USAA FSB is a good fit for military personnel, veterans and their families who prefer online and mobile banking and want access to over 100,000 ATMs without a fee.
Highlights
- ATM Fee Refunds
- Digital Leader
- Low Fees
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.4/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 5/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.
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
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USAA FSB offers a full range of deposit and loan products.
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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
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USAA has just one brick-and-mortar location.
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If you don’t have a link to the military, you won’t qualify for membership.
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Yields on deposits are not impressive, and it's easier to find higher yields elsewhere.
USAA banking products
FEATURES
APY, or annual percentage yield, is the yearly return on a bank or investment account. APY as of 11/29/2023
USAA savings overview
USAA also offers a standard savings account and a Youth Savings account, both of which require $25 to open. APYs on these accounts don’t compete with the best rates available.
Pros
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There are no monthly service fees on USAA savings accounts.
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Performance First account holders can earn more with bigger balances.
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USAA offers the option to get an ATM card with its savings accounts.
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USAA offers several savings accounts, including one for youths.
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Savings account customers have access to a large ATM network.
Cons
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The $10,000 opening deposit requirement for the Performance First account is steep.
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You can find higher APYs elsewhere, especially at other online banks.
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See how rates for this account have changed over time. Interact with the trend lines to view APY by date.
USAAAPYAPYNational average APYHow do we get this data?
Offers featured here have been sponsored by our partners, which impacts how, where, and in what order the products appear.

APY, or annual percentage yield, is the yearly return on a bank or investment account.
APY, or annual percentage yield, is the yearly return on a bank or investment account.
Bankrate Savings rating = 4.9/5
Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.
Bank experience
USAA has long been regarded as a digital leader among financial institutions. Its mobile app 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.
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.
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.
About USAA
USAA, a financial services organization, opened the USAA Federal Savings Bank in 1983. USAA generally serves active U.S. military personnel, honorably discharged military veterans, precommissioned officers and spouses and children of members. USAA FSB offers checking and savings accounts, CDs, mortgages, credit cards and other loans.
It has a highly rated mobile app that allows customers to deposit checks, pay bills, transfer funds and do other transactions. Customers also have access to online banking and over 100,000 fee-free ATMs. USAA has a branch in San Antonio.
Review methodology
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.
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