USAA® Federal Savings Bank Reviews

2.0 out of 5 stars
24 Reviews

From Account Holders in the last year

ADDITIONAL RATINGS YOU MIGHT FIND HELPFUL

Application Process

3 out of 5 stars

Customer Service

3 out of 5 stars

2 5
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Most Helpful Positive Review

Nov 26, 2016
Excellent!
Anonymous Account Holder

Never had an issue in over 13 years. Great customer service!

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Most Helpful Negative Review

Aug 30, 2016
Awful
Anonymous Account Holder

USAA insurance is top notch, but that's where it ends.

I filed for Chapter 13 due to astronomical medical bills and student loans. They immediately locked me out of using the full site and force me to use the mobile version, which is fine for most purposes. Apparently it wouldn't have mattered if I claimed them in my case or not, they demonize anyone who doesn't have stellar, amazing financial history. I had better luck with the big banks then these yahoos.

I had a CD backing a secured credit card. Instead of using the CD to pay off the card (which is what I was told would happen), they are taking money from the bankruptcy and holding the CD. Interestingly, I was never late on paying my bills on that card, was @ 50% of balance, and had it for 7 years. 

They screwed me with deposits, too. My husband got a check from the VA for backpayment of disability benefits to the tune of $24,000. They held the check for 30 days, saying it's because of the "amount". It was on a **** US Treasury note, and easily verifiable. 

Run, far far away. Even as a service member, you're better off using a credit union.

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These reviews were written by current and former account holders in the last year.

Jul 14, 2017
Best bank and insurance company
Anonymous Account Holder

Best bank and insurance company if you can get it. Whenever I had to file claims I've always had the best customer service. They truly care about me. Recently I was at fault for a very minor accident (scraped someone in a parking lot), and the other driver was harrassing me to pay for their repair out of my pocket, and for me to not tell my insurance. Constantly calling me and texting me threateningly. Called USAA,filed a claim, and explained the situation - they told me to no longer communicate with the other driver and promptly called them, and is assisting them with getting their repairs (their total repairs are around $200). This solved the situation immensely and USAA was so supportive and understanding. I will be a member for life! 

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Jul 01, 2017
Opportunistic, dishonest and predatory
knp278 Account Holder

Mobile deposit is massively inconvenient. I deposited $1100 via mobile scan and was met with a hold of $600 while they verify the funds availability of a payroll check, which is a joke. If my paycheck is bouncing, I have bigger problems, right? But, worse than that, they increased the hold from $600 to $900 without informing me or justifying their actions. Now I have six to ten business days to access my own money. And I'm subject to NSF fees if I spend more than the meager allowance they give me until they 'verify' the check. It's 2017. 90% of the world uses debit and credit banking systems that complete ACH transactions in the same day. Banks like USAA are fighting like hell to delay the implementation of such systems over the fear they'll lose profits from NSF fees. I'm thoroughly disappointed and disgusted that they feel this is an honest business practice. 

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Jun 09, 2017
Bloated and lost
Anonymous Account Holder

Avoid mortgages with USAA, the processors including their managers do not have any idea what they are doing all the way from pre qual to mortgage fullfillment. Too many hands in the cookie jar, communication is horrible and there is no single point of contact- minimum of 4 people if things go smoothly. Very polit on phone and will tell you what you want to hear, but intel is often inaccurate and leads to delays. While being addressed by proper title is nice, I certainly would value experience, competency, and honesty more. 

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May 31, 2017
They are Garbage
Anonymous Account Holder

If your a Vet or an Active Duty Member stay away from this bank its a total Joke - They are just like so many others these days, trying to make a profit off of service members.  Their Services Suck and You can do better with a Bank that Actually has Branches.

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Apr 25, 2017
Too many fees, not enough options
Anonymous Account Holder

For a company that is so stellar with insurance, the expectations are high for banking...their rates and fees are so out of line with the market, I'm not sure where to begin.

1. Performance First Savings - With a $50k minimum, the interest rate is 0.3%. Ally Bank is 1.05% with no minimum.

2. Brokerage Fees - $8.95/trade, underwritten by Fidelity. Fidelity is $4.95/trade...why pay the middle man??

3. Fund Transfer Process - I tried to move $5,500 from my USAA checking into my USAA IRA. They put a 6 business day hold on the funds...from one USAA account to the other!!  WTH?

4. Transfer Charges - I moved my IRA/Brokerage accounts from USAA to FIdelity. USAA charged me $70 for the brokerage and $35 for the IRA. Unfortunately, due to the above delay, they are now charging me $35 twice for the IRA transfer. Thankfully Fidelity is covering the cost.

I've been a USAA customer since 1994...and I'm moving every nickel out of their bank.

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Mar 26, 2017
Run Away!!!
Anonymous Account Holder

This is the worst run bank I have ever experienced. You will never be able to close your accounts if you want to leave. They will literally re-open your accounts months and months later without your knowledge or concent!!! They will even draw on it, yes they will draw on your supposed closed account putting your account in the negative. An account you thought was done and closed. If that's not criminal what is? The customer service will have you wanting to bang your head against a wall just to silence the incompitance and stupidity. For your own sake never ever open an account with this bank! There are so many better alternatives that are suggested by credit kharma. I wish had had a credit kharma account back when I joined usaa so I didn't make the mistake of getting involved with them. I just hope this review saves at least one person from the hell that is usaa banking and go's with a highly rated bank that credit kharma suggests instead.

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Mar 17, 2017
Closed account
Anonymous Account Holder

USAA closed my account after 31 years because they said it was used in business. Howver, they continued to send out Billpay checks till they closed it, which caused all of those checks to bounce and for myself to incur substantial fees. I am a doctor who does business in his own name, no DBA, and who files all forms under his own SSN. "A business owner is not always required to establish a business checking account. For example, a sole proprietorship owner can choose to use his own individual checking account to conduct business."

The money I receive is not paid to the business but to myself for services rendered, not unlike an employees paycheck.

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Mar 08, 2017
Watch out with this company!!!
Anonymous Account Holder

They will take cash advances from CC for OD on your checking account when there is no need.  They have done this several times in the last year.  There is no way they can explain their way out of it.  They are heartless and anythiing but customer friendly.  

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Mar 01, 2017
Lost 10 year member
Anonymous Account Holder

I have been so disappointed with USAA in the last 2 years.  When I first joined I did not have a lot of available funds and there were several times they helped me out after overdrawing my account.  Now, 10 years later, things have reversed completely.  They now put checks deposited on hold for 10 business days, which seems unheard of for today's market.  They issued all new Visa chip cards, at our expense.  These cards cannot be run as credit unless there is a chip reader.  I had to open an account at a local bank so I could have cashier's checks written for payments I could not make with my card.  Additionally, USAA quoted me 13% for an Auto loan, I went to the local credit union and got a loan for 2% on the same day.  The convenience of their mobile app was awesome but now you can't trust the information given.  The customer service has significantly decreased, I asked to speak with a manager and was given a 24-48 hour callback period.  :(

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Feb 17, 2017
Very convenient for the person on the go
Anonymous Account Holder

The free aims and atmosphere fee reimbursement was a big draw! Also the easy mobile deposit feature really helps..

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