Cheap and easy..........no, not me!
Written: Jul 19 '00 (Updated Jul 19 '00)
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Product Rating:
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Pros: Low fees, balances and good rates
Cons: Local branches unknown to me
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| mommyg's Full Review: USAA |
I've been a member of USAA since I've needed auto insurance. It was while calling my insurance about the blue book value of my car that I learned there was a bank called USAA Federal Savings Bank. At that point, they pre-approved my auto loan and I've been a customer since. Being skeptical of anything I cannot see in person, I was slow to open a checking and savings account with them. Upon receipt of a mailing offering a free $50 savings account for opening checking, I decided to give it a try. Since I did about 6 years ago, I wouldn't go anywhere else. They offer no minimum checking among other higher balance products. The benefits for me include; no minimum balance, no fee, interest bearing checking, no ATM charges from USAA and 10 ATM charge rebates (charged by other banks) back to me per month, debit card rebates each month that I still cannot figure out. Hey, free money is free money! I don't know if or where they have USAA ATM's, but it doesn't matter because they refund you the other bank's charges.
The bank is located in Texas (I'm in DC) so if I have checks to deposit I have to mail them. The bank sends me as many pre-stamped, pre-addressed envelopes as I request. Theres an automatic option on the phone system that will send packs of 10 within 2 or 3 days. I have yet to have (knock on wood) any deposits lost or misdirected. I dare say who doesn't have auto deposit with their payroll these days, but am afraid my dad may read and disagree! My many payroll changes and auto withdraws have been processed without interruption on the part of USAA. (if only my employer would get it straight!)
Recently I've discovered the joy of their website. It is probably the easiest site to navigate that I've ever used. I work for an internet bank and cannot get my account information from my own company! USAA is easy and simple and (knocking on wood again...) accurate. I can check balance and recent transactions on my checking and savings, see my balance due on auto and home insurance, set up automatic transfers and check rates and products with ease.
One major drawback is that there are no branches near me. In fact, other than the Texas location, I'm not sure where they are. However, most banks these days charge fees for patrons that actually use the lobby tellers for transactions. Therefore, the fact that I cannot GO to the branch may benefit me even more. I've had more bad experiences with grouchy, unfriendly tellers than I care to remember. USAA representatives are always cheerful and helpful - even when I ask dopey questions.
Secondly, USAA is a unique membership organization in that it's focused on military officers and their dependants. I read that they are looking into branching out to enlisted, but am not sure how far that has progressed. So, for anyone with a military officer in the family, I recommend checking out USAA.com for your banking and insurance needs.
Recommended:
Yes
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Epinions.com ID:
mommyg
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Member: cathy
Location: DC area
Reviews written: 11
Trusted by: 6 members
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