USAA still a good banking choice?

Anonymous · ‎06-01-2020

Hello, all. I have been a USAA member for 20 years, but have not banked with them in 15 years. I remember them being awesome, but after checking some of the online customer review sites, it seems they have gone downhill lately?

I am looking for general opinions on USAA (mainly checking/savings, but I'd love to hear some opinions of their credit products also). My goal is to build a banking relationship with the same institution I ask for credit from, and ultimately want to know if USAA is still a good choice.

Thank you so much for your time and consideration!

jhb · ‎06-01-2020

I've been with USAA for 20 years, my first year in with the Air Force. They were one of, if not the leader, when it comes to taking care of your banking needs online. I've rarely had to make contact with them, but when I do, they always provide excellent service. I've also used their insurance for auto, renters, homeowners for 20 years as well. However, I still prefer Navy Federal for all of my lending needs...credit cards, auto loans, and personal loans.

Gmood1 · ‎06-02-2020

Auto and home insurance isn't competitive, as it once was.

Cards are decent, not much flexibility in PCing or consolidating limits.

Auto loans rates are ok. Roughly middle of the road. Not the best, but certainly not the worst either

The banking side is awesome!!

ACH transfers and mobile deposits is simply untouched by any other FIs I can think of!!

This is where they shine!

The APY does leave something to be desired. Can't have it all though.

Anonymous · ‎06-02-2020

Great, thanks guys!

That's good enough for me. As long as their banking side is straight. There's nothing worse than having a banking snafu with no local branch to walk in to and handle in person.

I also wasn't too concerned with the insurance side. As long banking is good, and the credit side is decent, the decision is made.

I suppose that's the difference in an "awesome bank that just happens to have credit cards", and an "awesome credit card company that just happens to have a bank".

Adkins · ‎06-02-2020

The banking side customer service has been impressive for me. The insurance wasn't impressive though.

Last HP 08-07-2023

M_Smart007 · ‎06-02-2020

Food for thought!

Charles Schwab to buy USAA assets in $1.8 billion deal ..

(refresh the page if you get an add pop-up)

https://www.cnbc.com/2019/07/26/charles-schwab-to-buy-usaa-assets-in-1point8-billion-deal.html

Anonymous · ‎06-02-2020

USAA Classic Checking is my primary checking account, and for that USAA is great. Lightning fast ACH, early direct deposit, refunded ATM fees, immediate funds availability for mobile deposit. Credit cards are "meh". Savings and CD rates are bad.

UncleB · ‎06-02-2020

@Gmood1 wrote:
Auto and home insurance isn't competitive, as it once was.
Cards are decent, not much flexibility in PCing or consolidating limits.

Auto loans rates are ok. Roughly middle of the road. Not the best, but certainly not the worst either

The banking side is awesome!!
ACH transfers and mobile deposits is simply untouched by any other FIs I can think of!!
This is where they shine!
The APY does leave something to be desired. Can't have it all though.

This ^^^ sums up my thoughts exactly.

I've been using them for my primary checking since 2012, and I have no complaints at all. They work exceptionally well for me.

I have an account at Wells Fargo for those few occasions where I need to deposit cash, but otherwise USAA's checking meets all of my needs.

Over on the USAA community forum there are occasionally complaints about deposit holds and ACH limits when accounts are new(ish), but once they get to know you that isn't a problem. If you have direct deposit deposit holds aren't an issue, anyway.

Anonymous · ‎06-03-2020

@M_Smart007 wrote:

Food for thought!

Charles Schwab to buy USAA assets in $1.8 billion deal ..
(refresh the page if you get an add pop-up)
https://www.cnbc.com/2019/07/26/charles-schwab-to-buy-usaa-assets-in-1point8-billion-deal.html

Whats cookin' good lookin' ? Trip to Walmart to check on @kilroy8 's love

Anonymous · ‎06-03-2020

@UncleB wrote:
@Gmood1 wrote:
Auto and home insurance isn't competitive, as it once was.
Cards are decent, not much flexibility in PCing or consolidating limits.

Auto loans rates are ok. Roughly middle of the road. Not the best, but certainly not the worst either

The banking side is awesome!!
ACH transfers and mobile deposits is simply untouched by any other FIs I can think of!!
This is where they shine!
The APY does leave something to be desired. Can't have it all though.

This ^^^ sums up my thoughts exactly.

I've been using them for my primary checking since 2012, and I have no complaints at all. They work exceptionally well for me.

I have an account at Wells Fargo for those few occasions where I need to deposit cash, but otherwise USAA's checking meets all of my needs.

Over on the USAA community forum there are occasionally complaints about deposit holds and ACH limits when accounts are new(ish), but once they get to know you that isn't a problem. If you have direct deposit deposit holds aren't an issue, anyway.

+2 They shine on the banking side! Can do a funds transfer to another bank and it shows the same day (most of the time). That is unreal!!! The Socks bank has been good on this too! As @UncleB stated, been with USAA for many years and appreciate the banking. Found the insurances high priced for me but they rank out #1 in Consumer Reports so they do something right! Used their investment side many years back and it worked real well ... they have done many changes to that side of the business so no experience with them today for investments. As to credit products there are many great providers in the market place and USAA is only meh at best on this. Good luck in your pursuits!