View Full Version : Direct Deposit Form
22nd June 2010, 03:53 AM
If you are not using military credit union for direct deposit, be sure to ask your bank for a signed direct deposit form. I have been going over the to do list with my son for months now and just noticed this....I was thinking he needed to bring just a deposit slip. :redface: He emailed bank (USAA) and they filled all the info for him (except what USNA will fill out), signed it and emailed it back the same day. Hopefully the direct deposit will go as smoothly (ha!)
25th June 2010, 11:17 PM
OK----we have Navy Fed account and USAA set up. Looks to me like it will be better to put the bulk of DS money into USAA. The debit card doesn't have to be signed from USAA but the one from Navy Fed does so I'm told. Plus if they guard the funds that closely and don't balance the accts correctly he may be able to get things done easier with the USAA acct. Any thoughts out there from moderators or members of both banks?
26th June 2010, 12:24 AM
Son has both USAA and NFCU also. His mid pay will go into NFCU tho. I don't think the balancing of accounts incorrectly pertains to NFCU account, but their funny money account with navy pay and accounting system. The pay that goes into their account each month (about $100.00 Plebe year then increased from there each year) will not be messed with by NFCU and will be available thru checking or debit cards. All the rest of our sons money is in savings and checking accounts with USAA.
26th June 2010, 07:10 AM
Falconchic is right -- monthly pay deposited into a NFCU acct by USNA doesn't mix w/ the legendary "funny money" acct. That's completely separate.
My 1/C Mid finds it's smoothest to have monthly pay deposited into NFCU. That's the norm @ USNA, and on administrative matters, the norm is often the way to go. They don't have time to deal w/ wrinkles caused by something outside "typical".
Son linked his accts, and as soon as he's paid, he transfers funds from NFCU acct to USAA (he's just that happy w/ USAA service, features, etc.).
26th June 2010, 12:45 PM
My son is bringing his direct deposit form to I Day. When they report do they turn it in with all the other paperwork? Thanks
27th June 2010, 03:49 AM
I still have both a NFCU and USAA account, they both have their advantages. As far as at the academy since there is a NFCU branch on site I always found it more helpfull to have the money sent there, plus we didn't used to have a choice. Also since NFCU seems to understands the whole midshipman thing more than USAA they give better credit cards and such to mids which can be either a good thing or bad thing depending on your kid.
28th June 2010, 02:00 AM
Started out with USAA. Evolved to both. And now have dropped USAA in favor of NFCU. I personally feel that USAA has grown too much and become very impersonable. They both meet one needs but NFCU does it more friendly.
28th June 2010, 12:45 PM
As I have stated before. Navy Federal is a “Credit Union” while USAA is a “Bank”. If you do not know the difference between the two types of entities, go to the Federal Reserve website and learn it.
I personally I do all of my banking at NFCU now. While I have only ever had minor problems with USAA, I hated that I always had to resolve them over the phone. To me there is something to be said about conducting business in person. If I am not mistaken, USAA only has one or two physical locations that you can go to in order to discuss an issue, none of which are near me. NFCU on the other hand has branches all around me, including one within 20 minutes of my home now.
I also have told many people that USAA used to have the best insurance rates for me. Not so anymore. I actually get a better deal through Liberty Mutual via an agreement with Pentagon Federal. Liberty has been just as friendly to deal with and their insurance product has been very good for me.
It is like anything else. You just have to shop around.
28th June 2010, 02:02 PM
Thanks for the positive feedback on the Navy Credit Union.
We just opened an account via the web for my daughter and I thought it was a great idea they did it this way. I figured the day we showed up in Newport the place would be a madhouse and I did not want us to have one more thing to worry about.
In the Civy world, I only belong to our Local Credit Union. For the same reasons you describe.
28th June 2010, 02:33 PM
I also have told many people that USAA used to have the best insurance rates for me. Not so anymore.
Me too. I live by myself and insure four vehicles. Could not convince USAA that I would not be driving all four of them at the same time. GEICO was much more receptive to this idea.
vBulletin® v3.8.7, Copyright ©2000-2013, vBulletin Solutions, Inc.