bank rates

USAA Offers Free Checking For All

The diversified financial company based in San Antonio will pay your ATM charges.At least one big bank isn’t getting rid of its free checking.

USAA is a financial services company for members of the military and their families. It offers mortgages, loans, investment plans and banking options, like CD rates and savings accounts.

Some USAA products are available to everyone, including its checking account.

Its members can sign up for what are usually better deals than you’ll get at other big banks. It’s like a credit union, but with big company size and power — it has more than 8.4 million members and is a Fortune 500 financial services company.

And yes, its checking is free through its FDIC-insured USAA Federal Savings Bank — if you’re not a big ATM user.

USAA — which operates five bank branches in Texas and Colorado — doesn’t have nationwide ATMs, but it won’t charge you the first 10 times per month you withdraw money from another bank’s ATM.

The bank also will reimburse you up to $15 a month in any fees charged by the bank owning the ATM machine.

Non-USAA members aren’t allowed to upload checks via their mobile phones, which is a member benefit, but USAA recently formed an agreement with UPS stores that allows you to deposit your check at more than 1,900 stores without paying any fees, or waiting to mail in your check.

USAA (www.usaa.com) even pays a little interest on the money in your account: 0.05%.

That’s not much, but it’s a lot better than most of the checking products we’ve seen, which charge you for the privilege of holding your money.

It’s nice to see at least one big financial company keep free checking really free.

Don't miss out on the next bank deal. Get the newest deals delivered straight to your inbox!

Comments (0)
1 Star2 Stars3 Stars4 Stars5 Stars (2 votes, average: 2.50 out of 5)
Loading...
No Existing Comments

Comments are closed.