It's a great simple system that has saved my bacon a few times. The overdraft protection can be linked to a bank account or credit card, meaning if you do overdraft they just pull money automatically out of the account to cover your transactions. USAA even has an option in the automated transfers screen to set up transfers on the 1st and 15th.Īll USAA accounts come with no ATM fees, no monthly service fees, no minimum balances, fraud protection, mobile check deposits through your phone, and overdraft protection. It's a nice feature that allows for easy budgeting and automatic transfers to go out of my account on the 1st and 15th. Actually, thanks to USAA's early deposit program, I always gets my military pay at least 1 business day prior to the actual pay day. In 2018's low interest rate environment it may not make as much sense, but run the numbers for yourself.Įvery 1st and 15th of the month, my military paycheck is direct deposited into my USAA Classic Checking account. I also paid off my student loans at 6.8% with the USAA loan at 3%, again that was an easier decision. I was quite impressed with myself for having 5 figures in my checking account, even if it was borrowed money.Īt the time CDs were offering 5% interest rate, so it was a no brainer to borrow at 3% and invest at 5%. That was approximately 5x as much money as I'd ever had in my life. USAA promptly deposited $25,000 into my checking account. On Nov 9, 2008, I applied for a USAA Pre-commissioning Loan, also known as a cadet loan or career starter loan. The products I most like and have personal experience with are: I do not offer a blanket recommendation on all USAA products.
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USAA offers its members a full suite of financial products, services, and accounts.
The lack of ATM fees on the checking account and the decent interest rate on the savings account were great. I started depositing my monthly ROTC stipend into the account. The email from that first interaction is still in my archived emails.
On Feb 11, 2008, at 1:55 PM, I opened a checking and savings account with the bank. I first joined USAA in 2008 as an Air Force ROTC cadet in Boston. The truth is, this bank makes my financial life so painless, so seamless, and so easy I just do not think about it! You would think after 10+ years of excellent service I could get around to writing a USAA review. Thank you for supporting my independent, veteran owned site. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
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