Is it right for non-military to open USAA bank account?

A friend of mine who just got out of the Air Force was telling me about USAA, he has a checking account, auto insurance, credit cards and other investments with them. I called in just to see what they would say and they said anyone could open a checking and savings account. I think anyone can apply for a credit card with the exception of the secured card. Well, I started to open a checking account as I'm looking to keep money in several different places.

When my friend found out, he got mad and said USAA was supposed to be a benefit for those who serve in the military and veterans, but a big chunk of USAA has been opened up to anyone. I didn't pass my physical and couldn't serve but I thought by joining I would show support for our troops.

What I'm really needing to know is if people here think I was right to open an account with USAA or if I was wrong to do so. If enough people agree that I shouldn't have opened the account, I'll close it.

I was seriously considering an eChecking account with Bank of America, but when I compared the two I started leaning towards USAA. Right now I really need to know what everyone thinks.

12 Answers

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  • AJ
    Lv 7
    8 years ago
    Favorite Answer

    USAA is not just for the military. That is just a marketing strategy they came up with to lure military members to them. USAA is NOT affiliated with the US Govt or any part of the US Govt. By your friends definition, then only people who work for the US Govt can buy insurance from GEICO (Government Employees Insurance Company). By law, as they are a bank, they cannot have restrictions on who can open an account with them. If they were a Credit Union, then yes, they can restrict who can have accounts with them

    Let's be clear. USAA is not like Bank of America. USAA is first and foremost an Insurance Company. In fact, USAA is very similar to State Farm. In recent years, to increase profits, they both decided to get into the banking industry.

    I would never do day to day banking functions where banking is not their first priority

    To answer your question, USAA is not just for military and never has been, anyone can open a bank account with USAA.

  • 6 years ago

    There are so many different answers to one simple question. I just talked with a customer representative via my phone and she told me that I could not become a member because although I had relatives that served in the Military as an officer, I could only be approved if my parents served in the Military. The only exception was if I or my spouse served in a high ranking position in the FBI or CIA. I spoke with a friend two days ago whose mother had divided a Mutual Fund savings account with USAA among her three sons. The last update he received on his account showed a 6.5% interest payment. Many replies have stated that USAA is "just a bank". I know of no bank in the "civilian" sector that pays that amount of interest. My credit union pays .25% on it's checking accounts and .75% on savings accounts. Any thoughts?

  • 5 years ago

    RE:

    Is it right for non-military to open USAA bank account?

    A friend of mine who just got out of the Air Force was telling me about USAA, he has a checking account, auto insurance, credit cards and other investments with them. I called in just to see what they would say and they said anyone could open a checking and savings account. I think anyone can...

    Source(s): military open usaa bank account: https://trimurl.im/c64/is-it-right-for-non-militar...
  • AD
    Lv 7
    8 years ago

    USAA supports troops, but in the end they are still a business. You have to factor in the small amount of troops and eligible dependents in the military and then add on the fact that a lot of them bank elsewhere. If USAA only accepts military they won't make as much money, meaning the benefits the military members get will be reduced.

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  • 8 years ago

    I highly recommend utilizing USAA. You're friend is very wrong in saying that it's only for the military. Although the military, veterans and all other government employees enjoy enhanced benefits, it's only by allowing others to bank with USAA that they are able to give many of those benefits.

  • Anonymous
    4 years ago

    For the best answers, search on this site https://shorturl.im/axYeR

    yes, usaa is open to non-military. i'm non-military and i opened a checking account with them on 6/1/10. you just need to call them to get a membership number and then you can open a checking account. they told me that non-military doesn't qualify for auto or home insurance but, everything else is open to us non-military people.

  • 8 years ago

    No, it is not wrong for you to do so; USAA is a "bank," not a credit union. Though, USAA's customer base is military personnel & family, it cannot restrict anyone with good intention from doing business with them. If your friend has a problem with it, tell him to complain to USAA, not you (the same way that you cannot tell your friend to not shop at Walmart, because its main customer base is civilian and/or non-veteran).

    BTW, I HIGHLY recommend you doing business with USAA over BOA.

    Source(s): A long time USAA Member.
  • mattan
    Lv 4
    4 years ago

    Usaa Checking

  • Anonymous
    8 years ago

    To be honest, USAA is mainly directed toward military and military families. Its one of those perks from the military we soldiers really enjoy. I don't think you were wrong for opening an account with them not being military, but I do feel it will rub many soldiers the wrong way because they pride themselves on being such. Whether you feel I'm wrong or not I do feel if you want to keep your friend and you don't want to piss off more soldiers, close it. USAA is a fantastic bank with amazing benefits so I don't blame you for wanting them. They fight hard for us military in return for us fighting for America.

    Source(s): USAA customer and Army
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