For almost a century, the United Services Automobile Association (USAA) has been offering financial services, insurance, and investment products to current and former military members. Initially founded by army officers to insure their vehicles, USAA has grown into a diverse group of companies with a net worth exceeding $31 billion as of 2018. If you are eligible for USAA membership, you can access exclusive products and services with attractive discounts, along with the opportunity to earn new account bonuses.
Currently, USAA is running promotions on the following accounts:
– USAA Classic Checking Account: $200 bonus, expires on April 24, 2025
– USAA Performance First Savings Account: $200 bonus, expires on April 24, 2025
To qualify for the bonuses, applicants must meet certain criteria specified by USAA. For the Classic Checking Account, you need to fund the account with an initial deposit of $25 and set up a qualifying direct deposit of at least $100 within 180 days of opening the account. For the Performance First Savings Account, you must make deposits totaling at least $15,000 within the first 30 days and maintain a balance of at least $15,000 for 90 days after the initial period.
To open a USAA Bank account, you must first become a member. Eligibility extends to active duty, honorably discharged, and retired military members, as well as their family members. Once approved as a member, USAA will provide product recommendations and assist you in opening accounts.
While USAA’s new account bonuses are competitive, it’s worth comparing them to promotions offered by other banks to find the best fit for your financial needs. Many banks offer similar bonuses, with varying requirements for qualification. Choosing a bank that aligns with your long-term financial goals is key, rather than solely focusing on the bonus amount.
To maximize your USAA offer, ensure you meet all requirements for the bonus and consider if USAA’s products and services align with your preferences and needs.
In addition to the bonuses offered, it is necessary to maintain a minimum balance in your bank account for a certain period in order to qualify for the bonus. This is especially important for the savings offer, as a deposit of at least $15,000 is required. It is also important to avoid overdrawing your checking account, as overdraft fees can impact your bonus earnings. Fortunately, USAA does not charge monthly service fees.
In conclusion, USAA Bank provides a range of financial products, banking services, and exclusive discounts for members that can result in significant savings. Keep checking back for updates and new promotions. If none of the current promotions suit your needs, there are other banks offering similar promotions.
FAQ
– How long does it take to receive a new account bonus?
Both the checking and savings account bonuses are paid within 60 days of meeting the requirements.
– Can existing customers qualify for these promotions?
No, these promotions are only for new customers.
– What happens if I close my account early?
If you close your account early, you will not receive the bonus.
– Are bank bonuses subject to taxes?
Bank bonus money is taxed as interest. If you earn $10 or more in interest/bonus money in a year, your bank will provide you with a 1099-INT form for tax purposes.
For more information about USAA Bank:
– USAA Bank Review
– USAA Savings Account Interest Rates
– USAA vs. Navy Federal: A Comparison for Military Members
Please note that the opinions and recommendations expressed in this article are those of the author and have not been endorsed by USAA. This article was originally published on GOBankingRates.com: USAA Promotions: Best Offers and Bonuses
