You won’t save much with the savings products USAA offers, unfortunately. Compared with the banks we’ve already reviewed, its rates just aren’t close to the top tier. Even the cash back debit account isn’t that lucrative. Let’s say you use your debit card 60 times in a month, you’d earn $6. You’d be much better off using a rewards credit card to earn cash back. As you can see above, when you add a margin to the exchange rate, it can make a big difference when converting currency. This means your final total cost https://www.beaxy.com/exchange/eth-usd/ for an international wire transfer can be much higher than you anticipated. Even if a bank or transfer service offers an attractive fee, the exchange rate markup could cancel out any savings you might have had. External transfers move funds to and from your eligible accounts at other participating banks or credit unions and your Regions checking, savings or money market accounts. There are several ways to transfer money between bank accounts, whether online, through a mobile app or by visiting a bank branch.

Within the US these transfers take less than 24 hours to clear. International wire transfers usually take two business days, but depending on the destination and when you send the transfer, it can take up to five days. Since USAA functions only within the U.S., they use the Bank of New York Mellon to process international wire transfers. This means your money will pass through an additional bank before leaving the U.S., adding extra steps when processing your transfer.

Contact USAA to Initiate Your Balance Transfer

This can save you the embarrassment of having your debit card declined, or from the pain of overdraft fees causing your account balance to go far into the negative. If you’re concerned about the return you can earn on your money, you’d be better off opening a savings account. USAA is a financial services company that was founded to serve members of the armed services and their families. Yes, USAA provides a cash balance pension benefit at no cost to employees.

Our information is based on independent research and may differ from what you see from a financial institution or service provider. When comparing offers or services, verify relevant information with the institution or provider’s site. Talk with a financial professional if you’re not sure. As of January 2022, some of the best balance transfer cards are the Citi® Double Cash Card and Citi® Diamond Preferred® Card. With these cards, you’ll get one of the longest intro APR periods offered for balance transfers. Balance transfers from another USAA credit card aren’t eligible. USAA balance transfers can be initiated over the phone by calling 531-USAA or online by visiting theirUSAA Move Balances page. If transferring a balance online, you will be required to log into your existing account or register for an online account. It’s also important to determine the transfer fee, if there is any—currently, USAA’s transfer fee is 3 percent. If you have a USAA credit card already, then you can proceed to the next step.

Ready to open an account?

When using apps to transfer money online to a bank account, always be sure that you’re paying the person you intended, as transactions can’t usually be reversed. On the flip side, only accept payments from people you know and trust. While problems are rare, hackers and scammers are always on the prowl for weak spots. So anytime you’re sending money online, slow down, double check your digits and keep your apps up-to-date. When it comes to domestic wires, you can send them online by logging in to your account. You can make two one-time, domestic wire transfers per 30-day period up to $10,000 each. If you want to send money above these limits, you must request by phone. All said, you save the most with USAA insurance rates. The company’s origins are in car insurance and that’s one of the top products for members. Homeowners insurance and life insurance are also contenders.