USAA savings accounts open online in about 10 minutes, and you can fund them the same day
You can open a USAA savings account through their website or mobile app without visiting a branch. The process requires your Social Security number, a valid ID, proof of address, and an initial deposit (the minimum varies by account type, but many USAA savings products have no minimum). Once you submit your information online, USAA verifies your identity and typically approves the account within minutes to a few hours. You can then transfer money from another bank account or deposit a check using mobile deposit.
USAA membership itself requires military service or an immediate family connection to someone with military service. If you are not yet a member, you will need to establish membership before opening a savings account. Membership is free and happens during the same process as account opening if you are may be able to access.
Key Takeaways
- USAA savings accounts open entirely online through their website or app, with no branch visit required.
- You will need your Social Security number, a government-issued ID, proof of address, and an initial deposit to open an account.
- USAA membership is required and is free if you have military service or an may be able to access family connection.
- After approval, you can fund your account by transferring money from another bank or using mobile check deposit.
- Interest rates and account features vary by product, so review the specific savings account type before opening.
What you need before you start
Gather these documents and information before you begin the online application. You will need your Social Security number, a current government-issued photo ID (driver's license, passport, or military ID), and proof of your current address. Proof of address can be a recent utility bill, lease agreement, mortgage statement, or bank statement dated within the last 60 days.
You will also need to decide on your initial deposit amount. USAA savings accounts vary in their minimum opening deposit requirements. Some accounts have no minimum, while others require $25 or more. Check the specific account details on USAA's website to see what applies to the savings product you want. Have your routing and account number ready if you plan to transfer money from another bank account, or have a check ready if you want to use mobile deposit.
Steps to open your account online
Start by going to USAA's website or opening their mobile app. Look for the option to open a new account or sign up as a new member. If you are not yet a USAA member, the system will walk you through membership verification first, asking about your military service or family connection. This step takes a few minutes and requires you to confirm your may be able to access.
Once membership is confirmed or if you are already a member, select the savings account type you want. USAA offers several options, such as a basic savings account, money market account, or certificates of deposit (CDs). Each has different interest rates and features. Read the account details carefully, including the current interest rate, any fees, and withdrawal limits.
Enter your personal information exactly as it appears on your ID: full name, date of birth, Social Security number, and current address. USAA will verify this information against credit bureaus and government databases. Upload or photograph your ID and proof of address when prompted. Make sure the images are clear and all four corners of each document are visible.
Review the account agreement and disclosures, then sign electronically. Set up your initial deposit by choosing to transfer funds from another bank account or by arranging a mobile check deposit. If you transfer from another bank, provide that bank's routing number and your account number there. If you use mobile deposit, you can do that after your USAA account is open.
How long approval takes and when you can use your account
USAA typically approves new savings accounts within minutes to a few hours of submission. You will receive a confirmation email with your new account number and routing number. Some accounts are ready to use immediately, while others may have a brief hold on deposits while USAA completes final verification.
If you transferred money from another bank account, that transfer usually arrives within one to three business days, depending on your other bank's processing time. If you use mobile check deposit, the check is typically processed within one business day. You can begin earning interest on your deposit as soon as the money clears in your account.
Funding your account after it opens
You have several ways to add money to your new USAA savings account. The most common method is an electronic transfer from your checking account at another bank. Log into your other bank's website or app, select "transfer money," and enter USAA's routing number (9000001) and your new USAA account number. The transfer usually takes one to three business days.
USAA also offers mobile check deposit, which lets you photograph the front and back of a check and submit it through the app. There is no fee for this service. The check is usually deposited within one business day. You can also visit a USAA branch in person if one is near you, though this is not necessary.
Some employers allow direct deposit to multiple accounts. If you want your paycheck to go partly to your USAA savings account, contact your employer's payroll department and provide them with USAA's routing number and your new account number. This is a free way to fund your account automatically.
Understanding USAA savings account features
USAA savings accounts earn interest, but the rate changes based on market conditions and the account type. Money market accounts typically pay higher interest than basic savings accounts, but may require a larger opening deposit or minimum balance. Certificates of deposit (CDs) lock your money for a set term—usually three months to five years—and pay a fixed interest rate that is typically higher than savings accounts.
Most USAA savings accounts have no monthly fees and no minimum balance requirement to avoid fees, though some premium accounts may differ. Check your specific account's terms. USAA also does not charge for transfers between your own accounts or for mobile check deposit.
Withdrawals from savings accounts are limited by federal regulation to six per month (this rule has been relaxed in recent years, but some banks still enforce it). If you need to withdraw money more frequently, a checking account may be more practical. You can open both a checking and savings account at USAA.
What to do if your application is denied or delayed
If USAA denies your application, they will send you a letter explaining the reason. Common reasons include failing the identity verification check, an issue with your credit report, or not meeting membership requirements. If the issue is an error on your credit report, you can dispute it with the credit bureau directly.
If your application is delayed beyond a few hours, check your email for a message from USAA asking for additional information. This sometimes happens if your address or name does not match government records exactly. Respond to USAA's request promptly with the correct information or additional documents.
If you are not yet may be able to access for USAA membership, you can still open an account once you establish may be able to access. USAA membership is open to active-duty military, veterans, retirees, and their immediate family members. If you do not currently meet these requirements, check back if your situation changes.
Frequently Asked Questions
Can I open a USAA savings account if I am not yet a member?
No, you must be a USAA member first. However, membership and account opening happen in the same process if you are may be able to access. Membership is free and requires military service or an immediate family connection to someone with military service. If you do not meet these requirements, you cannot open a USAA account.
What is the minimum deposit to open a USAA savings account?
The minimum opening deposit varies by account type. Some USAA savings accounts have no minimum, while others require $25 or more. Check the specific account details on USAA's website before you start your application to see what applies to the product you want.
How do I transfer money from my other bank to USAA?
Log into your other bank's website or app, select the transfer or send money option, and enter USAA's routing number (9000001) and your USAA account number. The transfer usually takes one to three business days. You can also use mobile check deposit or arrange direct deposit from your employer.
Can I open multiple savings accounts at USAA?
Yes, you can open more than one savings account at USAA. Some people open separate accounts for different savings goals. Each account has its own number and can earn interest independently. There is no fee for having multiple accounts.
What happens if I need to withdraw money more than six times a month?
Federal regulations historically limited savings account withdrawals to six per month, though this rule has been relaxed in recent years. USAA's current policy varies by account type. If you need frequent withdrawals, consider opening a checking account instead, which has no withdrawal limits. You can keep both accounts open at the same time.