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Thread: USAA or Navy Fed?

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    #1

    USAA or Navy Fed?

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    I'm going to open up a second bank account for various reasons. But I'm wondering if I should go with USAA or Navy Fed.? DH and I currently have a USAA account, so I'm more leaning towards Navy Fed. But I want to hear from people who have Navy Fed. Since we don't have an account with them, I really don't know much about them. So tell me who you would chose and any insight you may have on Navy Fed. Please!
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    #2
    Is there a specific reason you want bank accounts with different banks? I have both Navy Fed and USAA. I used to use my USAA primarily but when my account was drained from fraud I had to deposit the cash I had on me and opened a Navy Fed account.

    USAA:
    convenient if you also have their car/renters insurance, great customer service, ATM fee reimbursement, lower rental car rates if under 25, no physical locations, my interest rates have always been higher

    Navy Fed:
    locations everywhere, lower interest rates, excellent customer service, no car/renters insurance available, ATM fees for any other banks

    To me, having a physical bank I can walk into is major, especially with the time zone I'm in. Thankfully near navy bases there are Navy Fed ATMs everywhere, so the fees don't impact us too much, but when we travel it's a PITA. I have all my bills in bill pay, so I can easily pay our USAA insurance as well. Overall they're both great banks, it's just a matter of your lifestyle and what is/is not convenient for you.
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    #3
    I have USAA and a regular bank account. I have no complaints about USAA and have been really helpful with my husband being gone. Great customer service as well. I like it because I feel likes its a bank I dont need to explain deployment or training to. They just know how they work, unlike my other bank.
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    #4
    Quote Originally Posted by Carolina View Post
    Is there a specific reason you want bank accounts with different banks? I have both Navy Fed and USAA. I used to use my USAA primarily but when my account was drained from fraud I had to deposit the cash I had on me and opened a Navy Fed account.

    USAA:
    convenient if you also have their car/renters insurance, great customer service, ATM fee reimbursement, lower rental car rates if under 25, no physical locations, my interest rates have always been higher

    Navy Fed:
    locations everywhere, lower interest rates, excellent customer service, no car/renters insurance available, ATM fees for any other banks

    To me, having a physical bank I can walk into is major, especially with the time zone I'm in. Thankfully near navy bases there are Navy Fed ATMs everywhere, so the fees don't impact us too much, but when we travel it's a PITA. I have all my bills in bill pay, so I can easily pay our USAA insurance as well. Overall they're both great banks, it's just a matter of your lifestyle and what is/is not convenient for you.
    No specific reason why I want to open an account with a different bank. I just thought if we have two USAA accounts, it would be easy to get the cards mixed up and forget which card is for which account. So to avoid that I would open an account with Navy Fed. But I don't want that to be the ultimate deciding factor as it's really nothing major. There used to be an actual USAA location here that you could go into and get help. But they closed it! I'm not sure if the next duty station has any Navy Fed locations, I don't think our hometown has any either. I'll have to look into it. We do have renters with USAA, but I would still keep that account open. I just want two separate accounts, one for paying bills, one for frivolous stuff, and a second savings account.

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