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This thread is a continuation of the invaluable thread previously maintained by GoCowboys here. It is at his request that I "take over" as keeper of the USAA flame at FWF. All of us interested in USAA owe him a debt of gratitute for his work on this thread over the past year.

PLEASE NOTE: USAA SAVINGS BANK IS NO LONGER ACCEPTING NEW MEMBERS FROM THE GENERAL PUBLIC. As of June 30, 2006, one must either be elligible for their property and casualty insurance programs via their military service, prior service, or familiy connection to same; OR they must be an existing USAA Savings Bank customer.HOWEVER, anyone may still join USAA investments, and thereby qualify for an AMA account. See later thread entries for details.


This thread contains a lot of information about USAA and their products and services. If there is anything you feel should be added, changed, or deleted, please reply to the thread or put it in the Quick Summary.


GENERAL INFORMATION


Website
USAA

To gain access to the full website, you need a member number. There is no obligation, and this will allow you to see USAA's full product range. Call 1-800-531-2265 if you are elligible to do so.

Routing Number
314074269

Eligibility Requirements
Property and Casualty Insurance: To get property or casualty insurance from USAA, you have to have a military affiliation.

Banking: As of June 30 2006, you must meet one of these requirements to open a bank account:

1. have a military affiliation
2. be a current bank customer
3. be a resident of Bexar County, Texas (San Antonio)



PRODUCTS AND SERVICES


Checking
- No minimum or average balance requirements
- No monthly service fees
- 1/2 percent rebate of all non-PIN purchases made with the Debit Mastercard
- ATM card and Debit Mastercard both available
- Free bill pay (no balance or direct deposit requirements)
- Free checks for the life of the account (custom blue USAA non-duplicate checks, one box per order)
- New accounts can be funded by mailing a check, by initiating an ACH transfer from another bank, or by using a credit/debit card ($500 maximum on credit/debit cards)
- Only Visa and Mastercard accepted for opening deposit
- $25 to open

USAA Savings
- No minimum or average balance requirements
- No monthly service fees
- Tiered interest rates depending on balance
- $25 to open

Performance First Index Account
- No minimum or average balance requirements
- No monthly service fees
- Tiered interest rates depending on balance
- $10,000 to open

First Start Savings
- No minimum or average balance requirements
- No monthly service fees
- Tiered interest rates depending on balance
- $1 to open
- Available to persons 17 years of age and younger

Credit Cards
Those without a military affiliation might pay higher interest rates and may not be eligible for credit card rewards programs.

Other Account Features
- No ATM fees on the first 10 non-USAA ATM withdrawals each statement cycle ($2.00 each after that)
- ATM surcharge rebates of up to $15.00 per account per statement cycle
- Real-time online banking


INTEREST RATES


The first column shows the current rates; current rates are in effect through the date at the top of the first column. The other columns show previous rates so that you can see a trend in rates.

Checking
08/10 ---- 06/15 ---- 05/25 ---- 05/18 ---- 04/27 ---- 04/20 ---- 04/13---- Tier

0.00% --- 0.00% --- 0.00% --- 0.00% --- 0.00% --- 0.00% --- 0.00% --- Under $1,000.00
0.15% --- 0.15% --- 0.15% --- 0.15% --- 0.15% --- 0.15% --- 0.15% --- $1,000 and over

USAA Savings and First Start Savings
08/10 ---- 06/15 ---- 05/25 ---- 05/18 ---- 04/27 ---- 04/20 ---- 04/13 ---- Tier

2.85% --- 2.75% --- 2.75% --- 2.50% --- 2.50% --- 2.50% --- 2.50% --- $0 to $999.99
3.65% --- 3.56% --- 3.56% --- 3.30% --- 3.30% --- 3.30% --- 3.30% --- $1,000.00 to $4,999.99
3.75% --- 3.61% --- 3.61% --- 3.35% --- 3.35% --- 3.35% --- 3.35% --- $5,000.00 to $9,999.99
3.90% --- 3.71% --- 3.71% --- 3.45% --- 3.45% --- 3.45% --- 3.45% --- $10,000.00 to $24,999.00
4.15% --- 3.87% --- 3.87% --- 3.61% --- 3.61% --- 3.61% --- 3.61% --- $25,000 and up

Performance First Index Account
01/05- /11/24- 11/03- 10/19- 10/05- 08/31- 08/24- 08/17- 08/10- 06/15- 05/25- 05/18- 04/27- 04/20- 04/13- Tier

2.22 -- 2.22 -- 2.22 -- 2.22 -- 2.22 -- 2.22 -- 2.22 -- 2.22 -- 2.22 -- 2.22 -- 2.22 -- 2.22 -- 2.22 -- 2.22 -- 2.22 -- <$10K
4.82 -- 4.84 -- 4.83 -- 4.82 -- 4.83 -- 4.82 -- 4.81 -- 4.80 -- 4.80 -- 4.51 -- 4.43 -- 4.34 -- 4.29 -- 4.25 -- 4.22 -- $10-25K
5.08 -- 5.11 -- 5.10 -- 5.08 -- 5.10 -- 5.08 -- 5.07 -- 5.06 -- 5.06 -- 4.77 -- 4.69 -- 4.60 -- 4.55 -- 4.51 -- 4.48 -- $25-$50K
5.19 -- 5.21 -- 5.20 -- 5.19 -- 5.20 -- 5.19 -- 5.18 -- 5.17 -- 5.17 -- 4.88 -- 4.79 -- 4.71 -- 4.66 -- 4.61 -- 4.58 -- $50K-up




CDs and IRAs
The CD and IRA rate levels are too numerous to list all of them here, but the rates are very competitive, generally ranging from 3.50%APY to 5.25%APY, although the rates change often.


MOVING FUNDS


ACH Transfers
USAA has an ACH transfer capability which allows you to electronically transfer funds from any of your other bank accounts at other financial institutions. The service is very fast.

ACH transfers into a USAA account requested before 8:00 p.m. Central Time will be used to pay checks the same night.

ACH transfers involving non-USAA accounts are limited to an aggregate $5,000 per day, including future/scheduled transfers. These limits can be increased upon request and review by the bank. Also, larger amounts can be moved on a per-request basis by speaking with representatives or their supervisors.

I would also caution people from using USAA simply to transfer funds to and from other bank accounts. There are several reported cases of USAA closing accounts when they determine they are being used simply as "transfer accounts."

Quick Post This deposit method allows members to send checks overnight via UPS for posting the next day. Dropping off a free envelope at any UPS store before the UPS cutoff time will get funds posted the next day.


ACCOUNT OVERDRAFT PROTECTION


USAA has an industry-leading account protection feature that warrants its own entry. Basically, any USAA bank account can be "protected" by any other account at USAA OR many other accounts at other financial institutions. (Note that a particular account may be a "protector" or a "protected" account, but not both simultaneously!)

For example, as at many banks, a checking account can be set up to be protected by a USAA savings account. But in addition, that same account could ALSO be protected by a USAA credit card (with its no fee cash advances), OR a debit or credit card from another bank. Thus if properly constructed, a checking account should be almost "overdraft proof", since there can be multiple layers of protection placed on it.

Recently, account protection has gone through some evolution, as USAA has been updating their systems. As we discover more about the current mechanics of account protection, this thread will be updated accordingly.


OTHER INFORMATION


Online Banking
Online banking is real-time. For example, if you make an ATM withdrawal, the transaction shows up online immediately, including the location of the ATM. Likewise, if you make a Debit Mastercard purchase, the purchase shows up online immediately, including the name of the merchant.

Transfers from one account to another are immediately available in the destination account.

Customer Service
USAA has the best customer service in the business. They are one of the only institutions that consistently gets the answer right the first time. They are always friendly on the phone, and always eager to help in whatever way they can. They make you feel that they really do want your business.

Bill Pay
With Bill Pay, there are 3 different ways that a payment could be made (remember that "Payment Date" means the date you want the payee to receive the payment):

- Electronic Payment - the funds for the bill payment are withdrawn from your account on the Payment Date.
- Check Payment - funds are withdrawn when the payee cashes the check.
- "Guaranteed Funds" Check Payment - funds are withdrawn on the Payment Date.

You can often pay next day, often as late as 6-7 pm Eastern time, which is beyond their official cut-off times.

Software
USAA allows direct download of account information (credit card, checking, savings) from:
- Microsoft Money
- Quicken (yes, Quicken is supported)
- Yodlee

ATM and Debit Card Rebates
The ATM surcharge rebates and Debit Card rebates are deposited into your account automatically at the end of the statement cycle; you do not have to mail in ATM receipts for the ATM surcharge rebate.

Miscellaneous Information
- USAA uses their own "security verification system" - not sure if that means ChexSystems, identity verification through a credit report, or what.
- You cannot make deposits at a non-USAA ATM.
- If you are not a U.S. citizen, you may be asked to send in identification before the account(s) can be opened or you receive your membership number.
- USAA's Touchline (automated telephone banking) is voice-driven.

Thread History
Aug 24 2006: original thread taken from GoCowboys, with slight edits and new performace first rates.
Aug 27 2006: new PF rates, "Moving Funds" section added (thanks EricGo), section added on account protection.
09/08/06: updated last two PF rates.
09/17/06: fixed typo in warning about no new applications (thanks PoodleMan). Perf first index not updated, as rates remained the same (will update upon changes.)
09/25/06: Perf first index rates still remaining the same since Sept 1.
10/11/06: Perf first index rates drop slightly as of 10/06/06.
10/15/06: Perf first index stay the same as of 10/13/06.
11/27/06: Perf first index increased on 11/3 and to a new high on 11/24/06.
01/05/07: Perf first index drops for first time since 10/06.
04/18/07: Note added that brokerage/AMA accounts still available to the otherwise non-qualified.

Member Summary
Most Recent Posts
I filled out the house spec form and also saw an increase this year in homeowners. Close to 10% or so.

synch22 (Feb. 18, 2011 @ 12:56a) |

New USAA member here. They will not write homeowners insurance in Long Island but rather they act as an agent for Homes... (more)

PatrickBateman (Feb. 18, 2011 @ 12:33p) |

Actually no, you have to wait 3-4 business days before you can deposit money into the newly added account.

DrForce (Feb. 18, 2011 @ 11:16p) |

Non-miIitary customers can still get USAA checking, savings, and investment accounts:
LINK

Mobile access at http://mobile.usaa.com

The QuickPost service has been discontinued as of November 30, 2006.
USAA Savings Rates (12/31/2010)

  Daily Balance                APY

     $0 - $999                0.30%
 $1,000 - $4,999              0.35%
 $5,000 - $9,999              0.40%
$10,000 - $24,999             0.45%
        > $25,000             0.50%

USAA Performance First Savings Rates (12/31/2010)

  Daily Balance                APY

     $0 - $9,999              0.35%
$10,000 - $24,999             0.45%
$25,000 - $49,999             0.50%
        > $50,000             0.55%
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Thanks for keeping it alive Dave.

I appreciate the kind words, and I'm glad that Dave will "oversee" the USAA thread. I'll still be around, I just have a few things in my personal life that are requiring a lot of my attention.

Thanks, Dave.

I did the little eligibility calculator thing on the website. While I do not qualify my Dad does. Then family members can qualify. Before I jump through all of the hoops can someone let tell me in on the club secrets?

The rates listed in the OP are good but not quite as good as what I have. I lightly skimmed through the old thread but it seems like a lot of people were given misinformation or were confused.

Do they have 0%/1.9% for life deals on CCs (already have a no fee BT card for laundering money)? Do they have savings accounts higher than 5.18% listed? Do they have 6%+ CDs?

Thanks for the help. If you could point me to some of the hot deals I'd greatly appreciate it.

GoCowboys said: I appreciate the kind words, and I'm glad that Dave will "oversee" the USAA thread. I'll still be around, I just have a few things in my personal life that are requiring a lot of my attention.

Thanks, Dave.


Thanks to both of you!

Logged in and searched the USAA website for info, but could not determine if ATM withdrawal debits are counted against the 6 debits allowed per month on a USAA savings account.

Federal law concerning Savings accounts permits the exclusion of ATM withdrawals and many banks do not count them against the 6 allowed.

ATM Withdrawals from Savings (or ATM Transfers from Savings to Checking) do not count against the 6 maximum monthly withdrawals...online transfers out from savings, phone transfers out from savings, or written checks against the savings account DO count....This is true of most banks, including USAA.....

If you call in, USAA usually has some sort of fixed BT for life or for 12 month promo's, BUT you have to call in. They offered 5.5% for life a few months back when I mentioned PENFED had that promotion going...

craig10x said: (or ATM Transfers from Savings to Checking)But recurring (scheduled) transfers from Savings to Checking are counted by some banks.

I have an MMA from another bank that permits 3 debits and 3 checks, period. For example, you are not allowed 6 debits and 0 checks. I havent tested b/c they have a $20 fee for each violation, but branch manager "said" was correct.

USAA is very aware of what pen fed is doing. A year ago or so penfed had a auto refi special. I called USAA and they lowered the rate on my car loan to a quarter point below pen feds special, which was a full point drop for me.

Alcibiades said: craig10x said: (or ATM Transfers from Savings to Checking)But recurring (scheduled) transfers from Savings to Checking are counted by some banks.

I have an MMA from another bank that permits 3 debits and 3 checks, period. Not 6 debits and 0 checks. I havent tested b/c they have a $20 fee for each violation, but branch manager "said" was correct.


Right...well, recurring (scheduled transfers) would count toward the 6...and the 3 checks plus 3 other debits (not 3 checks plus 6 debits) is also correct and would also be true of USAA also (and most banks).... but when you do cash withdrawals at an atm machine (or in a branch from a teller) they do not count toward that total....nor do transfers from savings to checking that YOU do in an atm machine....

longwood8 said: USAA is very aware of what pen fed is doing. A year ago or so penfed had a auto refi special. I called USAA and they lowered the rate on my car loan to a quarter point below pen feds special, which was a full point drop for me.
You can probably thank me (among others, I am sure) for that.

A couple of years ago I called USAA with the same situation. I told them that I was considering refinancing my car loan with PenFed, and asked them to make a competitive offer to keep my business.

They weren't very receptive (offered a discount of .05% IIRC) and I got the distinct impression that they either didn't believe that PenFed would offer such a good rate or didn't believe I would follow through and refinance the loan. I made it a point to file the paperwork with PenFed the very next day, and told USAA so when I called back for the loan payoff amount.

Several months later I get a letter from USAA offering me the same rate that they had refused to even consider at the time. By that time, however, I was a happy PenFed loan customer.

I'm glad to hear that they are more flexible now...

- RightD

Above, I was trying to say that I have an MMA at a different bank that NEVER allows more than 3 debits, even if you write 0 checks that statement period. Weirdest thing.

But in summary, the 6 debit rule for Savings and MMA accounts is implemented differently by different banks, and sometimes very unexpectedly.

longwood8 said: USAA is very aware of what pen fed is doing. A year ago or so penfed had a auto refi special. I called USAA and they lowered the rate on my car loan to a quarter point below pen feds special, which was a full point drop for me.

What would be great is if we could get USAA to match the Penfed 5/1 ARM deal. That'd be sweet.

Call and ask

They aren't receptive to PENFED anymore...Just bought a car they said no way, and a house closes next week, no way again...They don't match rates anymore....In April they matched a car rate, they won't anymore though...

Alcibiades said: Above, I was trying to say that I have an MMA at a different bank that NEVER allows more than 3 debits, even if you write 0 checks that statement period. Weirdest thing.

But in summary, the 6 debit rule for Savings and MMA accounts is implemented differently by different banks, and sometimes very unexpectedly.


I guess there are always exceptions to the general rule, but i do know that most banks (including USAA) do not count atm withdrawals from savings accounts or transfers (at the atm) from savings to checking as part of the "6 rule" which is imposed upon them by federal requirements....those federal requirements only refer to the other situations we have discussed....

Slight rate update

Performance First Index
$0 - $9,999 2.22%
$10,000 - $24,999 4.82%
$25,000 - $49,999 5.08%
>$50,000 5.19%
APY applies for deposits received by 08/31/2006

I didn't see mention of checking account overdraft in the summary --

USAA unfortunately does not have a mechanism that allows you to go over and pay interest on the debt without penalties . But they have something better, if one takes the time to set it up:

A different account can be designated as the account to draw from to cover the overdraft, and this transaction is free. The account can be with USAA, or an external account that allows 'cash advances'. My local credit union lets me pull funds out by ACH (I think) using my debit card without fees, so I use this as my backup account. An even smarter approach in some ways is to take out a credit card such as PenFed offers, that has no fee cash advances and around a 8 - 10% apr if I remember correctly. This way you only have to have a decent CL on the card, and not worry about keeping funds in an account.

Unverified, but perhaps one could use a HELOC as the backup account.

Going a bit off-topic ...
USAA has an efficient and fast bill-pay service, that is a pleasure to use. In conjunction with the above safety mechanism for overdrafts, I am pretty comfortable that my BT's, credit cards, and bills can go on autopilot for months if need be without havoc.

Hmm, good to know that you can set up a non-USAA credit or debit card to cover checking overdrafts.

redsox9547 said: They aren't receptive to PENFED anymore...Just bought a car they said no way, and a house closes next week, no way again...They don't match rates anymore....In April they matched a car rate, they won't anymore though...

I'm refi'ing both my cars with USAA and they matched Navy Federal's rate for me on Monday.

EricGo said: USAA has an efficient and fast bill-pay service, that is a pleasure to use. In conjunction with the above safety mechanism for overdrafts, I am pretty comfortable that my BT's, credit cards, and bills can go on autopilot for months if need be without havoc.

I believe USAA's overdraft protection only applies to paper checks.

OmOd said: EricGo said: USAA has an efficient and fast bill-pay service, that is a pleasure to use. In conjunction with the above safety mechanism for overdrafts, I am pretty comfortable that my BT's, credit cards, and bills can go on autopilot for months if need be without havoc.

I believe USAA's overdraft protection only applies to paper checks.
I'm reasonably sure that is not the case, but a call to USAA should clear the matter up.

The overdraft protection applies to any transacion that would overdraw the account. I had this happen once ... I didn't transfer money to cover a Debit Mastercard purchase, and they transferred money from my savings account.

Dave, a tiny suggestion for a wonderful summary OP --

Move the line in the OP describing overnight deposits through UPS to the Checking account area from it's current place in the Misc category. This is such a useful service it would be a shame if overlooked.

Alternatively, especially since this is for FWf folk, perhaps a category labeled 'Moving Money Around' might be appropriate, and could include ACH, overdrafts, Bill pay, deposits and withdrawls.

Incidentally, a 3rd party collects the UPS overnight checks and performs the initial data entry for USAA. I only know this because I called them up the other day to warn them I was planning to send a personal check for 22K, and was told to expect an *automatic* TWO WEEK hold on the funds; and that after the funds were deposited, could then perhaps be cleared for use earlier by calling and requesting, but no guarantees. The CSR was under the impression the auto-lonng-hold would happen on any check over 10K, and possibly over 5K. The aforementioned 3rd party servicer of this deposit route makes it impossible to modify how large checks are handled.

Cheers, and props to GoCowboy for nurturing this most excellent thread until now.

Is the automatic hold really because of the third-party service? I had been given to understand it was common for many banks lately. I know I've had particularly large checks deposited at my actual bank put on similar automatic holds.

Mikesphar, no doubt similar holds exist at some banks. The practical difference here is that you cannot negotiate the hold prior to deposit using the UPS overnight service. UPS told me they collect deposits for a number of banks, and forward them all to the 3rd party servicer in one envelope. I think it reasonable to assume this servicer is unwilling to set different thresholds for each bank, so beyond any thoughts of asking USAA to treat a single transaction uniquely, I think it safe to presume USAA has little say in the matter for all deposits sent them this way.

someone asked about 0% APRs for Balance Transfers.

i can confirm that USAA does offer these, no fee, and for up to 15 months. my wife has had a "regular" credit card with them for a long time, and twice she's recieved the 0% offers (second times after over a year of doing it the first time and then paying it off). for what it's worth, she seldom used the card much for years before the offers.

about a month ago, she also received an inviatation for the the new AMEX USAA Cash Rewards card. this card offer was no annual fee, 0% APR for 12 months on BTs (no fees), and 5% Cash Back on gas, grocerys, dining for 1st 6 months, then 1.25% after that. however, on their website, it doesn't have this offer, so it may be targeted to members.

so, if you are a USAA member, might want to get a credit card as their limit is high, and you might get some of these offers eventually (i've been a member through her for years, and haven't received a 0% invite ever for applying for a new credit card) to pad out the Chase and Citi 0% lines.

***
one last point since i'm on here-- doing a few cursory checks on the web, seems their term life is cheaper than almost any other. also like the fact that they give you $500k up front during the underwriting process. these calculators are free (at least for members) on the web, so might want to check it out.

from my experience, usaa LOVES people that carry a balance and are profitable for them. They absolutely love them, so it makes snese to me that if you haven't used your card in a while, that they will bend over backwards to try to get you to use it.

They have given me CLI's generally with no pull like 5x in a row, they are great.

EricGo said: I didn't see mention of checking account overdraft in the summary --

USAA unfortunately does not have a mechanism that allows you to go over and pay interest on the debt without penalties . But they have something better, if one takes the time to set it up:

A different account can be designated as the account to draw from to cover the overdraft, and this transaction is free. The account can be with USAA, or an external account that allows 'cash advances'. My local credit union lets me pull funds out by ACH (I think) using my debit card without fees, so I use this as my backup account. An even smarter approach in some ways is to take out a credit card such as PenFed offers, that has no fee cash advances and around a 8 - 10% apr if I remember correctly. This way you only have to have a decent CL on the card, and not worry about keeping funds in an account.

Unverified, but perhaps one could use a HELOC as the backup account.

Going a bit off-topic ...
USAA has an efficient and fast bill-pay service, that is a pleasure to use. In conjunction with the above safety mechanism for overdrafts, I am pretty comfortable that my BT's, credit cards, and bills can go on autopilot for months if need be without havoc.


Beware, the only time I ever needed this feature was when USAA froze my account for no reason and I was unable to make deposits. Instead of letting my overdraft protection cover it, they simply let my checks bounce.

Typical USAA: "Offer" plenty of great features, but screw your customers over if they try to use those features.

Since then, I've been using BoA military bank instead. They don't advertise the great features that USAA does, but at least I can actually use the features they offer instead of walking on eggshells like USAA customers.

I think your situation is quite atypical. I haven't had to use the overdraft protection in awhile, but I've probably had at least 10 overdrafts over the past 5 years where by the money was automatically transferred from my savings account. Sometimes I even used it intentionally when the savings rates were higher than they are now.

The only problem I've ever had was when I accidentally scheduled two identical transfers from savings to checking one day apart. My savings account WAS the backup for the checking account, but not vice versa. I would have thought they would have just cancelled the second transfer, but they put it through and I got dinged an overdraft fee for the extra transfer from the savings account. To fix it, all I had to do was call in an explain my mistake, and they didn't hesitate to reverse my transfer as well as the overdraft fee. Otherwise, in 10 years I've never had a problem with ANY of USAA's services, and counting banking, brokerage and insurance I have about 10 accounts/policies with them.

I did choose an alternative lender for my current mortgage as they couldn't provide a 100% financing option that mirrored an offer from the lender I actually ended up going with, but otherwise they've also always been able to match any loan rate I've been looking to beat.

On a completely unrelated topic, has anyone used USAA's auto loan price negotiation service? From what I understand, you tell them the car you want, and they negotiate with the dealer for you. It doesn't look like you even have to finance with them. Anyone have experience with this service and were you satisfied with the price you got?

Thanks
-z

zski1 said: On a completely unrelated topic, has anyone used USAA's auto loan price negotiation service? From what I understand, you tell them the car you want, and they negotiate with the dealer for you. It doesn't look like you even have to finance with them. Anyone have experience with this service and were you satisfied with the price you got?

Thanks
-z



Though the data point is very historical in nature, my dad used the service back in early 1990s and was happy. As I recall it was a good to very good price but not great. If you are a talented negotiator you can probably do better. If on the other hand, like my dad, you hate to negotiate then USAA did (at least over a decade ago) do pretty well. One other thing my dad quit using them because at one point you did have to finance through USAA and he could do better with his credit union. So he quit using them. Maybe the rules have changed back again.

Regarding overdraft protection,
I was under the impression that only one account can be designated a back-up account.

My information on it is easily a year old, so apologies if out of date.

EricGo said: Regarding overdraft protection,
I was under the impression that only one account can be designated a back-up account.

My information on it is easily a year old, so apologies if out of date.
I have received much conflicting info about this over the past year also. My impression is that they've made some changes as their systems have been upgraded. If anyone has more recent, reliable info, by all means please post.

I called USAA today to set up my PenFed card as overdraft protection (seemed time I followed my own advice). First, I have to say this is the first time a USAA CSR didn't strike me as clearly clued in, so the following information should be taken as a definite maybe.

She let me set up my USAA savings account as the primary backup, and the PenFed cc as the secondary backup. She seemed to think that only one savings account at USAA could be designated, and didn't understand the notion of tertiary or deeper backups. She did point out that if the cc is debited, it will occur in $100 increments, while the savings account can be debited the exact overdraft amount.

I receive same day notification from USAA to my email of overdraft transfers (perhaps set up as a preference -- I cannot remember). I'll set up my email program to forward all usaa mail to my wife's and my phone, ensuring prompt attention to the overdraft.

Has any non-military members (pre-June 30th deadline) had any trouble opening new banking products with USAA? I would like to open a money-market account, but I have been reading mixed reviews on other sites. Is there still that much mis-communication? Has there been any word on further changes or restrictions being put on non-military members?

I'm not a military member, and I just opened a new HELOC with USAA within the last couple of weeks. I did not have any trouble or feel I was being treated differently. I had to apply over the phone because I couldn't apply online, but it's not clear that was an intentional slight versus simply a web site configuration problem. And the people on the phone were extremely helpful.

One more rate increase:

USAA Savings and First Start Savings
$0 - $999 2.95%
$1,000 - $4,999 3.75%
$5,000 - $9,999 3.85%
$10,000 - $24,999 4.00%
>$25,000 4.25%
APYs apply for deposits received by 09/07/2006

Performance First Savings
$0 - $9,999 2.22%
$10,000 - $24,999 4.83%
$25,000 - $49,999 5.10%
>$50,000 5.20%
APY applies for deposits received by 09/07/2006

Skipping 1560 Messages...
scanchain said:   DrForce said:   scanchain said:   I seem to rhave ead somewhere that USAA lets you do a ACH push with just the ABA and account number (no advance account verification needed).

This would allow me to push money to a friend or business if needed.

Is this still true? Thanks.

Yes, add the account in your transfer accounts and select option that says you do not have signature authorization. With this selected you can ACH push (but not pull) from the account and you do not have to verify any deposits.

OK, thanks for the information.

To setup an account with no signature authorization, I assume it is immediate since no verification is involved?


Actually no, you have to wait 3-4 business days before you can deposit money into the newly added account.

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