Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 08-04-2014, 10:13 AM   #21
Full time employment: Posting here.
friar1610's Avatar
Join Date: Jun 2002
Posts: 864
I've done some banking with USAA but have primarily used NFCU for the past 45 years or so. NFCU often had branches (and, later, ATMs) within easy access of place I was stationed, but not always. Since I've retired I've not lived anywhere within easy reach of NFCU branches or ATMs. Here's a couple of things I've done over the years so I could continue to use NFCU as my primary "bank" while not giving up local convenience. The same would apply no matter whether you use USAA, PenFed, etc.

- Check out the networks to which your institution belongs for ATM purposes. Often you can get reduced or free transactions if you use a local bank that's a member of the same network.

- Every time you move, open a savings account for nominal amount (I generally did $2,000) at a local bank that has convenient locations. Get an ATM card as well. If you run short of cash you can always do an ATM withdrawal locally (an likely for free). Then you can just write a check from your primary institution (USAA or whomever) and deposit it back into your local savings account. In effect, you've cashed a USAA check locally with no hassle.

Good luck and thank you for your service.

friar1610 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-21-2015, 11:42 AM   #22
Recycles dryer sheets
Snidely Whiplash's Avatar
Join Date: Apr 2009
Posts: 178
My apologies for reviving an old thread. I wanted to post my experience for anyone who may find the thread and have similar questions or concerns.

Early Retirement forum is my "go to" place" for most financial related questions. I respect and appreciate many of the knowledgable members here who take the time to help others. I very much appreciate all who took the time to post to this thread.

My son's attempt to open a checking account at USAA was an absolute nightmare. He had orders to report for active duty on May 21st and on May 1st, at my recommendation, began the process of opening a USAA checking account. As of May 20th he still did not have access to the account - USAA maintained a hold on the account for a variety of reasons (residency verification, verification of his orders, etc) that they wouldn't inform him about until he called and inquired as to why he had no access. The representatives he spoke to when calling all sounded very young and were unknowledgeable. Most calls required several transfers with hold times of 15-30 minutes. It became a running joke in our home when calling USAA about the hold times and new issues keeping him from having access to the account.

On the day before he was to report for duty, and with no usable checking account, he stopped at a Navy Federal Credit Union branch near the Army bases main gate. In 45 minutes he walked out with a useable checking account, debit card for same, and a decent credit card (no annual fee, low interest rate that he will never pay , and rewards) that will be delivered to the NFCU branch so he can pick it up. As best I can tell Navy Federal offered all of the perks of USAA (ATM reimbursement, etc) with the added bonus of a physical branch at most military bases in the US and overseas.

Just an FYI.

"Adversity does not build character, it reveals it." - James Lane Allen
Snidely Whiplash is offline   Reply With Quote
Old 05-21-2015, 06:44 PM   #23
Thinks s/he gets paid by the post
Join Date: Feb 2008
Location: Indialantic FL
Posts: 1,212
USAA for checking and PFCU for loans and mortgages.
"The four most dangerous words in investing are 'This time it's different.'" - Sir John Templeton
jimnjana is offline   Reply With Quote
Old 05-22-2015, 12:51 PM   #24
Recycles dryer sheets
Join Date: Jul 2012
Posts: 256
Nothing but positive things to say about USAA banking. And I am a whiner.
Insurance, you may find better deals.

I must say I have never had a young, un-knowledagble CS rep when I have talked to USAA. They all seem older, southern and almost motherly.
Shanky is offline   Reply With Quote
Old 05-22-2015, 04:30 PM   #25
braumeister's Avatar
Join Date: Feb 2010
Location: Northern Kentucky
Posts: 9,632
Very happy with USAA banking. I've had accounts of all types with them for over 40 years, and practically no problems of any kind.

PenFed has had its unfortunate moments, but on the whole they have been wonderful for the last 30 years or so. I recently got a 2.5% mortgage with them on the condo we bought, and their servicing of it has been excellent.

Navy CU has been good, but they have had their rough spots as well. Lately they have obviously been trying harder, but they don't stand out in my mind as an order of magnitude better.
braumeister is offline   Reply With Quote
Old 05-23-2015, 09:12 AM   #26
Thinks s/he gets paid by the post
Rustic23's Avatar
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 3,654
I have been with USAA for 50 years. I would say it is a love/hate relationship. Like the little girl in the ferry tale, when they are good they are very, very, good, but when they are bad they are horrid!

As long as you color within their lines they are fine, but, when you get outside those lines i.e. off their script, they break down rapidly.

Latest example, for us, was when we built our house. We had a builders loan at a local bank, and used USAA as permanent financing. USAA wanted to call it a refi, and charge us a higher rate. It got so ridiculous they sent the loan papers to the house under construction when it was only a slab! Things got worse when it came time for the appraisal. In the end, and after a letter to the President of USAA, they closed the loan with no fees to make up for the hassle they caused.

I understand they went through a management shake up several years ago, and most of our problems were from the old management structure.
If it is after 5:00 when I post I reserve the right to disavow anything I posted.
Rustic23 is offline   Reply With Quote
Old 05-23-2015, 10:01 AM   #27
samclem's Avatar
Join Date: May 2004
Posts: 11,920
We've been very happy with USAA bank, we've been with them for about 35 years. They have been good to deal with, and they have been accommodating of the many "complexities" of life in uniform. I'd rate their banking services as among the best service I receive from any company. Their mortgage business is "less good" than the other aspects of heir banking service, I think this is largely a result of their decision to outsource some of this to other companies that don't necessarily meet the standards USAA keeps.

Insurance: Also satisfied.

Investments: I started with USAA as a young pup, but they are not at the top of the heap.

The company is changing. As the %age of folks in uniform drops from the Cold War days, USAA has sought to avoid loosing ground by opening up membership to more and more people. One of the key things that made USAA special is the degree of mutual trust between their members and the company, and this was possible due to the nature of that membership pool. The changes are likely to decrease that special relationship.
samclem is online now   Reply With Quote
Old 05-23-2015, 11:50 AM   #28
Recycles dryer sheets
Snidely Whiplash's Avatar
Join Date: Apr 2009
Posts: 178
I'm truly glad that most have had an excellent experience with USAA. I don't know what caused my sons' experience to be so drastically different. I don't think there was anything about his circumstances that made him particularly outside the norm. Strange that our experience differed so drastically and was consistent with several customer service reps.
"Adversity does not build character, it reveals it." - James Lane Allen
Snidely Whiplash is offline   Reply With Quote
Old 05-23-2015, 12:04 PM   #29
Recycles dryer sheets
Join Date: May 2014
Location: Yuma AZ
Posts: 270
Retired Coast Guard Reserve here, been with USAA since shortly after enlisting... We also have an account with a local bank for when something physical is required, but most stuff is with USAA...

unno2002 is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Home Equity Loans/USAA Savings Bank friar1610 FIRE and Money 5 06-26-2012 07:11 AM
USAA Bank ending debit-card rewards mickeyd FIRE and Money 6 07-09-2011 07:05 PM
Retiring Army Soldier oma Hi, I am... 40 12-09-2009 02:52 AM
SAHM married to mid-career enlisted soldier Lesleyann Hi, I am... 14 04-26-2008 02:12 PM
Anyone ever write a soldier overseas you did not know? Orchidflower Other topics 7 09-17-2007 01:20 PM


All times are GMT -6. The time now is 05:12 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2018, vBulletin Solutions, Inc.