USAA Bank offers good features and rates for their Online Checking, Savings and Certificate of Deposit (CD) accounts.
- Update 7/20/2024: Offer is back through December 10, 2024.
- Update 10/11/2023: The offer is back and extended through 3/14/24. The bonus increased from $100 to $200.
Originally established as a federal savings bank with the FDIC in 1983, USAA (United States Automobile Association) now offers a variety of products, including insurance, banking investment, and lending products and services. These products are targeted to members of the U.S. military and their immediate families.
Online banking with USAA allows you to use Bill Pay, mobile deposit and funds transfers. They also have a mobile banking app for convenience.
I’ll go over their popular Checking, Savings and CD accounts here.
READ MORE: GET TOP OFFERS FROM CHASE, AXOS, AND BMO.
USAA $200 Checking Bonus, Military Pay Required
- What you’ll get: $200
- Where it’s available: Nationwide, military pay required
- How to earn it: Open a new USAA Classic Checking account between October 11, 2023, and March 14, 2024, and receive a qualifying direct deposit into the new USAA Classic Checking account within 180 calendar days after account opening.
- When it expires: 12/10/24
Waive The Monthly Fee
USAA Classic checking has no monthly fees.
Fine Print
- Offer available for new USAA Classic Checking accounts from USAA Federal Savings Bank, also known as FSB.
- The account is not eligible for this offer if: 1) the primary account holder currently has, or has had, ownership of a USAA FSB checking account in the 12 months prior to account opening. The primary account holder is the account holder whose U.S. taxpayer identification number is used for tax reporting purposes on the new account.; or 2) the account is titled as a trust account, estate, Uniform Transfer to Minor Account, also known as UTMA, or other fiduciary account.
- The new USAA Classic Checking account must remain open and in good standing through the time we attempt to deposit any earned bonus payment.
- Offer may be discontinued or changed at any time without notice.
- All account applications are subject to approval and may be subject to a $25 minimum opening deposit.
- A qualifying direct deposit is a single Automated Clearing House, also known as ACH, electronic deposit of $100 or more of your United States military salary pay, retirement pay, military disability pay, or annuity pay for a surviving beneficiary from Defense Finance Account Service, also known as DFAS, or the U.S. Department of the Treasury, that posts to your new USAA Classic Checking account.
- Civilians receiving pay from DFAS are excluded.
- Special payments are not eligible; this includes but is not limited to education and travel benefits related to military service.
- They will attempt to deposit the $100 bonus into your new USAA Classic Checking account within 60 days after the first qualifying direct deposit.
- You are responsible for any federal, state, or local taxes due on the bonus and we will report the bonus as income to the tax authorities if required by applicable law. Consult your tax advisor.
- Offer can’t be paid without a valid U.S. taxpayer identification number or combined with any other offer related to consumer deposit accounts.
- Offer is limited to one bonus per member, one bonus per account, on first eligible account only.
- Offer cannot be reproduced, purchased, sold, transferred or traded.
- See the Depository Agreement and Disclosures for terms and conditions of your USAA Classic Checking account.
Bottom Line
USAA’s Free Checking account is going to give you free mobile deposit, Bill Pay, funds transfers to and from any bank, and zero liability for unauthorized charges.
If you use ATMs outside of USAA’s network, you’ll get reimbursed for transaction fees up to a certain amount monthly.
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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