Review Roundup: USAA

August 8, 2013

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USAA Federal Savings Bank was established in 1922, along with its subsidiaries, USAA Cost savings Bank and USAA Relocation Solutions Inc. The bank offer a full variety of monetary services and products to the military community worldwide. The mutual insurance business caters to over 6 million customers, mainly military personnel, military retired people, and their households.

USAA’s products and services include insurance, banking, investments, retirement, and guidance.

Major banking rivals to USAA are Bank of America-Military Bank, Pentagon Federal Credit Union, and the Navy Federal Lending institution. Exactly what sets USAA apart from their competitors is their claim to be the best-in-class service based on military worths, citing their dedication, history, and strength. They also cite their exceptional items as putting them ahead of the pack, providing industry-leading items from day-to-day have to lasting objectives.

Based on MyBankTracker’s Bank Report Card, USAA Bank scores 4 from 5 stars overall, ranking high in excellent bank monetary health, remote deposit gain access to, and mobile bank services. Remarkably, USAA doesn’t rank badly in any category of our report card, with the most affordable rating being ‘fair.’

On average the bank gets 3 from 5 marks from reviewers. Raved about for their ‘remarkable customer service,’ Sarah R. writes that in her 13 years banking with USAA she’s never talked to anybody who has not already been well-mannered and kind. She also mentions their standard protection and competitive interest rates as reasons they’re ‘an amazing financial service.’

USAA’s protected checking has free across the country use of ATMs, notice of security and scams informs, protection from unauthorized fees, does not includes regular monthly fees, and consists of an extended warranty from MasterCard. You can also open a USAA cost savings account with just $25. They presently offer cost savings rate APYs of 0.10 % to 0.20 %. Interest rates for home loans vary from 3.250 % to 4.250 %.

Deborah S. contends Sarah’s praise with her review, saying, ‘Fantastic service until you get incorrect information.’ She describes her recent experience transferring a check she hadn’t been sure was excellent. After making a number of calls, she was told the funds had actually cleared and been validated. She then made a transaction using some of the funds from the check, however the check bounced the next day. USAA charged her a charge and she was charged a charge. In the end, she was told by that the bank that they’d not refund her the cost and only offered to counsel the employee who provided the incorrect info. She ends her testimonial by saying, ‘the entire situation has been a pricey pill to swallow.’

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