USAA does not charge a monthly maintenance fee for its checking accounts

USAA's basic checking account has no monthly fee, no minimum balance requirement, and no per-transaction charges for standard deposits and withdrawals. You will not pay to open the account, keep it open, or use it for everyday banking.

However, USAA does charge fees for specific actions: overdrafts, wire transfers, stop payments, and certain out-of-network ATM withdrawals. These fees only appear if you use those services, not simply for holding the account.

Key Takeaways

  • USAA checking accounts carry no monthly maintenance fee, no minimum balance, and no cost to open or close.
  • You will pay fees only if you overdraft your account, send a wire transfer, request a stop payment, or withdraw cash from an ATM outside USAA's network.
  • USAA reimburses out-of-network ATM fees charged by other banks, so you can withdraw cash anywhere without paying USAA directly.
  • Overdraft fees apply when you spend more than your balance; USAA charges a flat amount per overdraft transaction, not a percentage.

Overdraft fees and how they work

If you spend more money than you have in your account, USAA will cover the transaction and charge you an overdraft fee. The fee is a flat amount per transaction, not a percentage of the overdraft. USAA allows a certain number of overdrafts per day before declining further transactions.

You can also set up overdraft protection, which links your checking account to a savings account or money market account. If you overdraft, USAA transfers money from the linked account instead of charging a fee. This transfer is free, but you must have sufficient funds in the linked account.

Wire transfer and stop payment charges

Sending money by wire transfer costs money. Domestic wire transfers (money sent within the United States) and international wire transfers (money sent outside the United States) each carry a separate fee. USAA charges these fees whether you initiate the wire online, by phone, or in person.

If you need to stop a check you have written, USAA charges a fee per stop payment request. This fee applies even if the stop payment is successful. Some banks waive this fee in certain situations, so contact USAA directly if you believe your stop payment should be free.

ATM fees and cash withdrawals

USAA reimburses ATM fees charged by other banks when you withdraw cash from an out-of-network ATM. You will not see a fee from USAA on your statement, even if you use a competitor's ATM. This reimbursement applies to domestic ATMs only.

USAA's own ATM network is limited because USAA is primarily an online bank. You can use ATMs at USAA branches or partner networks, but the easiest way to withdraw cash is often through a teller at a USAA branch or by using a debit card at a retailer's checkout.

Account closure and inactivity

USAA does not charge a fee to close your checking account. You can close it online, by phone, or at a branch without penalty. Make sure you have withdrawn or transferred any remaining balance before closing.

USAA also does not charge an inactivity fee if you stop using your account. Your account will remain open and free as long as you do not close it, even if months pass without deposits or withdrawals.

Comparing USAA checking to other banks

Many traditional banks charge monthly maintenance fees ranging from $5 to $15, though they often waive the fee if you maintain a minimum balance or set up direct deposit. USAA's zero monthly fee is competitive with online banks like Ally, Charles Schwab, and Discover, which also charge no monthly maintenance fee.

The main difference is in overdraft and ATM policies. USAA reimburses out-of-network ATM fees, while some competitors charge you directly. Overdraft fees vary by bank; some charge per transaction, others charge a flat monthly overdraft fee, and some offer overdraft protection like USAA does.

How to avoid USAA checking fees

Keep your account balance above zero to avoid overdraft fees. Set up overdraft protection if you are concerned about accidental overdrafts; the free transfer from a linked account is cheaper than an overdraft fee.

Avoid wire transfers unless necessary, since they carry fees. Use USAA's bill pay feature instead, which is free and takes a few business days. If you need cash, use USAA ATMs or withdraw at a retailer's checkout to avoid out-of-network ATM fees (though USAA reimburses these anyway).

Frequently Asked Questions

Does USAA charge a monthly fee just for having a checking account?

No. USAA checking accounts have no monthly maintenance fee, no minimum balance requirement, and no cost to open or keep the account open. You only pay fees if you use specific services like wire transfers or overdraft your account.

What happens if I overdraft my USAA checking account?

USAA will cover the transaction and charge you an overdraft fee per transaction. You can avoid this by setting up overdraft protection, which links your checking account to a savings account and transfers money for free when you overdraft.

Do I pay USAA when I use an ATM that is not USAA's?

No. USAA reimburses any ATM fees charged by other banks, so you will not see a fee on your statement. This applies to domestic ATMs only.

Can I close my USAA checking account without a penalty?

Yes. USAA does not charge a fee to close your account. You can close it online, by phone, or at a branch. Make sure you withdraw or transfer any remaining balance first.

What is the cheapest way to send money through USAA?

Use USAA's bill pay feature, which is free and takes a few business days. Wire transfers cost money, so use them only when you need the money to arrive within one business day.