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finder.com’s rating: 4.3 / 5.0
★★★★★
USAA’s free checking account is for people affiliated with the military and is ideal for those who want an account with no monthly fees and access to more than 60,000 preferred ATMs nationwide for free. But you need to keep at least $1,000 in the account to earn the low 0.01% APY.
$0 per month
Fee
0.01%
APY
$25
Minimum deposit to open
APY | 0.01% on balances of $1,000+ |
---|---|
Fee | $0 per month |
Minimum deposit to open | $25 |
ATMs | Free at 60,000 ATMs nationwide (USAA, Allpoint, MoneyPass, PNC) |
ATM transaction fee | $0 |
ATM fee rebates | Up to $15 in other US banks' ATM usage fees; not applicable for the month in which the account is closed |
Out-of-network ATM fee | $2 |
Foreign transaction fee | 1% |
Overdraft fee | $29 |
Nonsufficient funds fee | $29 |
Review by
Megan Horner is the credit cards publisher at Finder. She's passionate about helping you find the best credit cards to meet your financial needs — whether that's earning great rewards or improving your credit score. Megan's expertise has been spotlighted on Lifehacker, CreditCards.com, American Banker and featured on news broadcasts across the country.
If you’re affiliated with the military and looking for a checking account with no monthly fees, the USAA Classic Checking account could be an ideal solution. It offers easy access, the ability to earn interest, personal budgeting tools and a number of other features that make it a great everyday account.
But it has limited branches and puts a long hold on deposits.
You can apply for the USAA Classic Checking account online or by phone.
If you don’t have a reliable Internet connection or would rather speak to someone, you can apply by phone at 800-531-8722.
Applying for a checking account requires applicants to meet at least ONE of the following:
Have this information on hand when you sign up for the USAA Classic Checking account:
In addition to being a secure, interest-earning account with no monthly fees or minimum balance requirements, a USAA Classic Checking account also offers:
Members of USAA get free access to a nationwide ATM network that includes more than 65,000 Allpoint, MoneyPass and PNC Bank ATMs. Plus, USAA will refund up to $15 per month in usage fees when customers use other banks’ ATMs. However, there are some fees to be aware of:
In addition to needing military ties to be eligible for an account, you’ll want to be aware of a few other potential limitations:
If you aren’t affiliated with the military and want an account with more perks, you’ll want to keep looking. As always, compare your options when choosing a checking account.
There are several ways to access money in your USAA Classic Checking account:
USAA makes it easy to get a hold of customer service:
Just starting out with your finances? Have a child who you’re trying to get started on the right foot? Consider these other USAA products.
★★★★★ — Excellent
★★★★★ — Good
★★★★★ — Average
★★★★★ — Subpar
★★★★★ — Poor
We analyze top checking accounts and rate them one to five stars based on factors that are most important to you. These factors include: monthly fees, the ease at which monthly fees can be waived, the breadth of ATM access, ATM and overdraft fees, and customer service.