All USAA customers with both a savings and checking account can access the bank's Savings Booster tools, which are designed to help customers reach their savings goals. Like the general savings account, there are no fees with this account, and it allows for mobile check deposit and automatic transfers.
You may also use this account as your linked account for overdraft protection. It offers a tiered APY. One thing that makes USAA stand out is the fact that two of its three checking accounts bear interest. This account is set up to be as convenient and inexpensive as possible. USAA also offers a checking account specifically geared to minors under the age of Parental controls allow parents to:. Parents can decide whether or not to request a debit card with this account. It does not come standard as it does with the Classic Checking account.
As with the regular checking account, Youth Spending allows you to opt into free overdraft protection with a linked credit card or savings account. When your child turns 18, the Youth Spending account automatically becomes a Classic Checking account. Instead, it allows you to earn cash back through debit card transactions. You get 10 cents on each qualified purchase, and the amount is added to your rewards balance within one to two business days.
There is no limit to the amount of cash back you can get, and you can redeem your rewards at any time, in whole dollar increments, provided that your account is in good standing.
The ATM policy is not quite as generous with this account. It offers the same overdraft protection as the other two checking accounts. USAA says that it expects the account to be available in additional states at a later date.
You can purchase these CDs in terms ranging from 30 days to seven years, although some of the shorter terms are not available for the standard CDs.
USAA has a number of credit cards on offer, with a variety of perks to meet the needs of its customers. Whether you are looking for a rewards card offering points plus bonuses , a cash-back card, or a card with an annual percentage rate APR as low as 6.
In addition to the above banking products, USAA has a large menu of products and services for its members. Excellent customer service has long been what USAA is known for. You can reach a customer service agent by phone at least six or, in some cases, seven days a week; the specific days and hours vary depending on which department of USAA you need to contact.
The website also offers online chat with a virtual agent anytime you need help. As a financial institution serving a transient population, USAA has always been on the cutting edge of financial technology. It was one of the first adopters of mobile check deposit, allowing customers to deposit checks via iPhone as of , as reported in the New York Times.
However, some users find the app to be somewhat buggy, particularly after running an update, which can be a problem when the mobile app is one of the only ways to access your account. Members of the military and their families can open an account online. However, you will need to become a member of USAA first. You will need the following items to join:. USAA is a fine bank for those who qualify to access it. With monthly fee-free checking and savings accounts, generous ATM fee policies, an APY coming standard with every checking account, and many tools and programs created to help customers avoid overdrafts and meet their financial goals, USAA offers a complete package of good banking practices.
Unfortunately, USAA is not available to everyone. Civilians cannot access the excellent products and customer service. With membership restricted to military and their immediate family—which only includes spouse and children, not the parents of a military member—USAA is out of reach for many people. Investopedia is dedicated to providing consumers with unbiased, comprehensive reviews of banks. We collected over 20 data points across more than 80 banks—including products available, interest rates, fees, and accessibility—to ensure that our content helps users make the right decision for their savings and banking needs.
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You can zoom in and out on the map. Clicking on a dot on the map brings up specific information about that location and the services available there.
Find the nearest ATM. You can put in a city or zip code as well, or just click on dots from the map. Deposit your cash. These ATMs will take up to 30 bills at a time, and don't require any deposit slips or envelopes.
Follow up on your deposit. Depending on the location where you made your deposit, there may be a hold on your funds. There should be information on your receipt telling you when your funds will be available.
Method 2. Purchase a money order. You can buy money orders at post offices, Western Union, and some grocery stores and discount stores, such as Walmart. The US Postal Service only charges 45 cents for military money orders. A money order is treated just like a check. Since you're depositing the money order into your own account, list yourself as the recipient. You'll also fill out your information and sign as the purchaser of the money order. Download the USAA mobile app. If you don't already have the USAA app on your smartphone, you can download it for free.
Then, provide the details to set up access to your USAA account. This should only take a few minutes. Depending on the security you have set up, you may need to enter a code sent through text or email to verify your identity.
Endorse the back of the money order. Since the money order is payable to you, flip it over and sign in the endorsement area on the back of the money order.
Scan both sides of the money order using your phone's camera. A guide will appear on your phone screen. Lay the money order down on a flat surface so that the 4 corners of the money order are within the guidelines and the writing on the money order is clear and visible.
Then take a picture. Repeat with the other side of the money order. If it seems blurry or crooked, you might want to take it again. Once you're satisfied with the photos, enter the amount of the money order and select the account where you want the money deposited if you have more than one account. Method 3. While you can't deposit cash into a Preferred ATM, you can withdraw funds, check account balances, or move funds between accounts without accruing any ATM fees.
If you find a Preferred ATM attached to a bank branch, you may want to consider opening an account at that bank. You can use that account for cash deposits and also manage your USAA account from the same location. Get a prepaid debit card.
With a prepaid debit card, you may be able to reload it with cash around the clock. Link the card to your USAA account and you can easily transfer money from the card to your account online. Maintain another account for cash deposits. If you already have a checking account at a brick-and-mortar bank, you can deposit your cash into that account and then transfer the money to your USAA account.
This typically isn't the easiest or most efficient way to deposit cash with USAA. Find out how much the transfer is going to cost you before you open an account, especially if you're going to have frequent cash deposits. Hold times are another thing to keep in mind. Using this method may mean your funds aren't available in your USAA account for several days.
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