Update 1/15/25: The deal is back again from 1/15/2025 to 4/24/2025. (ht QQ)
Update 7/19/24: Deal is back until 12/10/24. Military pay isn’t required
Update 10/11/23: Deal has been extended to March 14, 2024 and is now $200 instead of $100. Military pay isn’t required this time either.
Offer at a glance
- Maximum bonus amount:Ā $200
- Availability:Ā Nationwide but restricted membership
- Direct deposit required:Ā Yes, $100+
- Additional requirements:Ā No
- Hard/soft pull:Ā Unknown
- ChexSystems: Unknown
- Credit card funding:Ā Can fund up to $100 with a credit card
- Monthly fees:Ā None
- Early account termination fee:Ā None
- Household limit:Ā None listed
- Expiration date:Ā October 10, 2023
Contents
The Offer
- USAA is offering a $200 bonus when you open classic checking account with qualifying direct deposit of $100+ within the first 180 days of account opening
The Fine Print
- Eligibility: Offer available for new USAA Classic Checking accounts from USAA Federal Savings Bank, also known as FSB, opened between May 5, 2023, and October 10, 2023. The account is not eligible for this offer if: 1) the primary account holder currently has, or has had, ownership of a USAA FSB checking account in the 12 months prior to account opening. The primary account holder is the account holder whose U.S. taxpayer identification number is used for tax reporting purposes on the new account.; or 2) the account is titled as a trust account, estate, Uniform Transfer to Minor Account, also known as UTMA, or other fiduciary account. The new USAA Classic Checking account must remain open and in good standing through the time we attempt to deposit any earned bonus payment. Offer may be discontinued or changed at any time without notice.
- Bonus Requirements and Payment: To qualify for the bonus, open a new USAA Classic Checking account between May 5, 2023, and October 10, 2023, and receive a qualifying direct deposit into the new USAA Classic Checking account within 180 calendar days after account opening. A qualifying direct deposit is a single Automated Clearing House, also known as ACH, electronic deposit of $100 or more of your United States military salary pay, retirement pay, military disability pay, or annuity pay for a surviving beneficiary from Defense Finance Account Service, also known as DFAS, or the U.S. Department of the Treasury, that posts to your new USAA Classic Checking account. Civilians receiving pay from DFAS are excluded. Special payments are not eligible; this includes but is not limited to education and travel benefits related to military service. We will attempt to deposit the $100 bonus into your new USAA Classic Checking account within 60 days after the first qualifying direct deposit. You are responsible for any federal, state, or local taxes due on the bonus and we will report the bonus as income to the tax authorities if required by applicable law. Consult your tax advisor.
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees to worry about.
Early Account Termination Fee
There is no EATF.
Our Verdict
Requirements seem relatively easy to meet if you’re eligible to be a USAA member.
Hat tip to Bockrr
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Donāt Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Donāt Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses ā We Wonāt Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
1099-INTs are now available for this $200 bonus in 2024.
In the process of doing this deal. USAA is pretty clunky in my particular case,… lots of hurdles/contact support requests
I just called but did get approved and e-signed all of the documents.
DP:
Funded $100 with Citi AA, coded as purchase
USAA was once free to non-military members. This was years ago when I applied for an account.
P2 has USAA insurance via her father. Can she (then I) open a USAA checking account by way of her having insurance with them? Or would P2ās father need to bank with them in order for her to open one?
She should be good to go. I’d be shocked if not. She obviously needs to apply first, and then you would be eligible (assuming you are the spouse of P2).
MeepMoop
Since P2’s father has insurance, then he already has a membership. P2 should be good to join.
don’t understand why they don’t just open up like navy is
Can be parents of USAA member?
Not according to their site. Children and spouses… not Parents.
DC
I no longer support USAA. I got in as a Veteran and it was pretty good. Insurance rates were amazing. Now, .01% interest rates and insurance rates that pretty much every company can beat. They lost their way. I switched banks and insurance. My interest rates i now 4% and my insurance is $2000 less per year.
Do you have to be in the military
No, you can marry someone in the military.
cornhole
Hereās whoās eligible for USAA membership:
Source: https://www.usaa.com/banking/
Had a very positive experience with this, both p1 and p2. We closed our accounts after the bonus posted but now have a property and car insurance policy with them, very competitive versus what we had before.
The whole process (quotes, payment, etc.) was online, and did not have to talk to a person (but you can if you wanted).