Opened up a USAA Account

SamAca10

SamAca10

10-Year Member
Joined
Jul 19, 2009
Messages
1,045
So I finally got around to opening up an account with USAA and applied for a credit card. I've only ever heard good things about USAA from those who have accounts at school...can anyone give me some general advice on USAA and their dealings with them? (esp. LITS if you could). Thanks!
 
USAA did our car loans my year, and I've stuck with them ever since.

I have various accounts and insurance with USAA and I have never had an issue with them.... ever.

After I opened my USAA account and figured our Navy Federal ignores the Coast Guard.... I emptied my Navy Fed. account and closed it down.

USAA is the only way I go, with a smaller regional bank account as a back up.

Love it.
 
Online banking, insurance, and investments are pretty simple with them. The only downside I've heard is that their home loans/insurance aren't always the cheapest. Other than that, they're great, IMO.
 
USAA

I've had USAA for my car insurance ever since the early 80s and then have used USAA solely for my mortgage insurance for the couple decades I have been a homeowner. I also have a savings/checking account with them and a prepaid card for my teenaged daughter through USAA. If USAA's rates are slightly higher for coverage than another policy provider, it is well worth it if you ever need to file a claim. I have had to file many claims for car accidents (some our fault, some not), a couple homeowner claims (for natural disaster and internal plumbing problem that ruined our floors) and even a claim when I was hit and injured by a car as a pedestrian in a crosswalk, which was ultimately paid by the driver's insurance but looked after on my behalf by USAA. In addition to consistently excellent customer service, they will always make sure that your repairs are done timely and to your full satisfaction. Rates only go up if they have to pay out on your behalf. And every year, I get a dividend check refund from them in December. Just got a check for $150 a couple days ago. USAA is a great benefit for military service members and their families. I cannot recommend them highly enough.
 
LineInTheSand said:
After I opened my USAA account and figured our Navy Federal ignores the Coast Guard.... I emptied my Navy Fed. account and closed it down.
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Very common, many do the same thing. Why support a business that won't support you?

NFCU won't even use the words "Coast Guard" in their advertising, stating that their services are available to "Army, Navy, Air Force, Marines Corps, and DOD Civilians."

Don't believe me? Check out their own website
 
If you have a smart phone, download the USAA app. I do most of my banking using the app including deposits. I agree with previous posters. You can't do better than USAA. We don't even have a local bank. No reason to. Insurance is good as well. They just replaced my windshield with no deductible. It couldn't have been easier.
 
My son recently opened up an account and purchased car insurance. He was at the car dealer picking up his vehicle and the dealer said there was a problem with the address on the temporary insurance card. Within 15 minutes USAA had sent a new one. I have been impressed so far.
 
We've had USAA for 25 yrs, the best thing is later on in yrs you get your own Xmas present from them...a check every Dec. from your subscriber savings account. This yr we got over $250 just this past Monday.

The only thing we have never used them for is a mtg. It was always either their rates were higher, they charged points, and funding fees. Only once did we not use them for home owner insurance, and it was when we lived in AK.

The only problem we ever had was not reading the fine print on our renter's insurance policy for jewelry; unless you carry special jewelry riders there is a cap. Unfortunately, we found that out after we were robbed. Luckily I was wearing my engagement and wedding rings.
 
As usual I will be the voice of even-handed sanity. I've had USAA for 10 years now. I would say 90% of my interactions with USAA are good. We have all our insurance through them, including my motorcycle (which they subcontract to Progressive) and our umbrella policy due to my wife's line of work.

By and large, USAA is great. Again, most experiences with them have been positive. When you deploy for a long time, they will reduce your credit card interest on request.

Downsides...

1. I have had several claims with them. Most were handled well. I did have one issue with a REALLY crappy claims agent over a stolen laptop. My brother almost got shorted $6000 when they totaled his car out, because they tried to pay him for the base model when his was the deluxe. That took awhile to put right. Their agents are by and large good, but not all is perfect.

2. For savvy investors, you'll find their brokerage to be ho hum at best. Many great fund families can't be owned through USAA. Most options cannot either. I had to set up a separate Fidelity account.

3. Lack of physical branches. 99% of the time it's no issue. Sometimes, though, you really need to be able to put in face time when something goes wrong. USAA is opening some investment centers, but that's in its infancy.

4. Be careful not to get sucked in by the "pre-approval" for an auto loan. It's nice and easy, but on the last 3 vehicles we've purchased (two cars and a motorcycle) USAA has been a whole 100 basis points higher (that's 1%) than MB Financial and other reputable lenders. For our BMW, the dealer got Bank of America down 90 points below USAA. Don't let the ease and eagerness of USAA steer you away from considering other lenders.

Just a few thoughts. Overall, though, they're still your best bet.
 
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Side note that piggiebacks Scout's physical location comment. To make up for some of the physical location issues, they do have a number of machines at UPS stores for depositing checks. If you have, I believe, insurance, a credit card and an account, you can also take a photo of a check to deposit.

My only real issue has been the limit on my credit card. It started at $1,000, which I found surprised given I have a very good salary and I had paid off a $30,000 car loan 4-5 years earlier.

I got the Coast Guard Academy Alumni Association credit card, for obvious reasons.
 
I am a newbie to these forums but 100% concur with the USAA recommendations. I have been a mil spouse for almost 20 years. They beat any credit union or bank we have ever been with.
I use the iphone app constantly, even to deposit checks. You can do check deposits at home using their website but honestly the app is quicker! And if you don't have an iphone, they have an android app too.
We have a mortgage with them, had renters insurance with them previously, our car insurance was less (switched from GEICO), always get excellent customer service. They will discount your credit card APR if you deploy. the only thing was our homeowners, their rate was much higher so we use someone else for that.
 
I have a USAA account because of my Cadet Commissioning Loan (up to 25k with 2.9% fixed and first payment 6 months after commissioning) and for my auto insurance. As others have said most of my dealings with them are rather good but I would like to see some physical locations. In addition, while their site is super user friendly and easy to bundle do not feel bad about looking at cheaper "less" military friendly establishments. Their open arms kind of policy towards the military is reassuring but there are actually better deals to be found out there.
 
scoutpilot said:
Downsides...


2. For savvy investors, you'll find their brokerage to be ho hum at best. Many great fund families can't be owned through USAA. Most options cannot either. I had to set up a separate Fidelity account.
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I agree with SP's assessment. Great for pretty much everything except for investments (better options out there for the more aggressive investor) and insurance claims (easy ones are truly easy, sometimes they can get sticky, though, for harder claims).
 
USAA general banking question

kgriff6998 said:
I am a newbie to these forums but 100% concur with the USAA recommendations. I have been a mil spouse for almost 20 years. They beat any credit union or bank we have ever been with.
I use the iphone app constantly, even to deposit checks. You can do check deposits at home using their website but honestly the app is quicker! And if you don't have an iphone, they have an android app too.
Click to expand...

I am looking into USAA as a bank for my DS at college. He is not in need of loans or other products at this time, just banking. Would USAA be a good choice for a checking and debit card account. How do the online deposits work and how does it work with the absence of physical branches? Does the debit card work at all ATM machines?
 
philmont said:
I am looking into USAA as a bank for my DS at college. He is not in need of loans or other products at this time, just banking. Would USAA be a good choice for a checking and debit card account. How do the online deposits work and how does it work with the absence of physical branches? Does the debit card work at all ATM machines?
Click to expand...

Yes to the ATM. Either deposit online, or transfer from your account or his savings account to his checking.
 
philmont said:
I am looking into USAA as a bank for my DS at college. He is not in need of loans or other products at this time, just banking. Would USAA be a good choice for a checking and debit card account. How do the online deposits work and how does it work with the absence of physical branches? Does the debit card work at all ATM machines?
Click to expand...

Atm fees are also reimbursed to your account so feel free to use any atm.
As for deposits besides transfer into accounts, online deposits(scan check) or down load mobile app and you can take a picture of check to deposit. Insurance for car and home is top notch. Great customer service. Have used them for 39 yrs and all over the world.
 
A habit I've tried to impart on my brother and other younger folks is to use the cash back option when buying things. It's a fee-free ATM. USAA does reimburse, but only up to $15 monthly. A few trips to the ATM and you're paying to get your money, as some ATMs in captive locations (airports, for one) are charging up to $5. I just paid a $7 fee here in Mexico. Just a thought.

The scanning of a check used to be a pain in the buns. The iPhone app makes it way easier.
 
scoutpilot said:
I just paid a $7 fee here in Mexico. Just a thought.
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You are a hard core Service Academy Forums poster! Enjoy Mexico! I went to PV, Mazatlan and Cabo when in grad school on a cruise. Hopefully you are there on vacation and not work related :smile:
 
scoutpilot said:
The scanning of a check used to be a pain in the buns. The iPhone app makes it way easier.
Click to expand...
hmza said:
Atm fees are also reimbursed to your account so feel free to use any atm.
As for deposits besides transfer into accounts, online deposits(scan check) or down load mobile app and you can take a picture of check to deposit. Insurance for car and home is top notch. Great customer service. Have used them for 39 yrs and all over the world.
Click to expand...

Sounds good. Thanks!
 
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