USAA Classic Checking Account Review

USAA Classic Checking Account is offered by USAA, a financial services company founded in 1922 and based in San Antonio, TX. USAA Classic Checking Account is available in 50 states (and Washington, DC).

• Low APY. The maximum annual percentage yield for this account is only 0.01%, and you must keep a minimum balance of $1000.
• $0 monthly fee. This account does not charge a monthly maintenance fee.
• $25 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
• No ATM fees. USAA Classic Checking Account does not charge fees on ATM transactions.
• Up to $15 in ATM fee reimbursements. This account will reimburse you for the ATM fees charged by other financial institutions.
• Free bill pay. Pay your bills to practically anyone in the United States through USAA.
• Early direct deposit. Get access to you paycheck funds faster If you set up a direct deposit to this account.
• Hard credit pull. USAA may require a hard pull on your credit report to open a checking account.

Are checking accounts from USAA federally insured?

Yes, your USAA checking accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #34351). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What APY does USAA Classic Checking Account offer?

USAA Classic Checking Account offers an APY of 0.01% (APY stands for annual percentage yield, rates may change). However, to earn interest you must keep a minimum balance of $1000.

What are the account minimums for USAA Classic Checking Account?

USAA Classic Checking Account requires a minimum initial deposit of $25 to open an account.

What fees does USAA Classic Checking Account charge?

The good news is that this account does not have a monthly service charge.

What features and perks does USAA Classic Checking Account offer?

This account includes the following features:

• Automatic savings - Set up an automatic transfer from your checking account to a savings account and you'll never have to second-guess your saving decisions again.
• ATM reimbursement - This account will reimburse you for the ATM fees charged by other networks up to a monthly maximum of $15.
• Fraud monitoring - USAA Classic Checking Account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location or you make a sudden string of costly purchases.
• Free Bill Pay - Bill Pay allows you to pay bills easily from your account.
• Get paid early - If you fund your account with a payroll direct deposit and request this service, you can collect your salary early.
• Mobile Banking Services - USAA Classic Checking Account allows you to manage your money online. This includes depositing checks in your account with your smartphone.
• Nationwide ATM network - Conveniently transact at a nearby ATM.