Armed Forces Bank

DS sent in the form to Armed Forces Bank when he received his appointment. This is the bank account that the cadets use at the Academy and the form was included in his BFE. He called today to follow up and was informed that the application will not be processed until sometime in May.

USAF463 said:

DS sent in the form to Armed Forces Bank when he received his appointment. This is the bank account that the cadets use at the Academy and the form was included in his BFE. He called today to follow up and was informed that the application will not be processed until sometime in May.

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Are you asking a question, or just informing other appointees? What you say is totally correct. The reason is: You could turn down your appointment. You could change your mind. They need to do it before June 1st because it's easier for bank records being you start basic at the end of June. But they don't want to go through the hassle of starting a bank account and then you change your mind in march or april and decide to go to a different school.

Also, for info sake. Armed forces bank is definitely the most convenient "INITIALLY". Many/most/a lot/etc... of cadets eventually switch over to USAA. They are mainly an online bank that has ATM's access everywhere. They are also the bank that provides the $35,000 1/2%+/- loan in your Junior (C2C) year. Armed forces is definitely a good place to start your account. They are right there on campus if you need them. And considering how little money you make initially, it's no big deal. But I just wanted to let others know that you don't HAVE TO USE THEM. And you can have as many bank accounts/banks as you want. So don't think you are stuck with them. If after you get settled, if you want to change your pay to go back to Wells Fargo in your home town, have at it. But USAA offers a lot. Banking, investments, car insurance, etc... mike....

When we were issued our computers after Basic we were given the option of getting USAA property insurance for the computers. We just had to fill out a small card then hand it to the officers who set up our computers. Creating an account with USAA is that easy. From there it is just takes a few mouse clicks to create a checking account, savings account, investments and other things. It is also very simple to change the direct deposits to USAA using the MyPay website. Closing the Armed Forces bank account is as easy as walking in and telling them you would like to close your account.

Initially you must create an Armed Forces Bank account to deposit your monthly pay, but there is no commitment to it after Basic.

USAF463, if its like last year, not only will his bank account not be processed until May, but your son won't get his ATM card etc. until he's at Basic. My son got a letter from Armed Forces Bank with his account number and other directions about setting up a new PIN and making an initial deposit, but that was it. Oh, and you won't automatically get checks--I kept asking my son if he got his, envisioning a lost box of checks and people buying all sorts of things with his (little bit of) money. Once he finally got around to calling (way after Basic), he was told he didn't order any but still could if he wanted. So he did. He also filled out the credit card application that came with his second BFE (and he sent in right away--April) but that didn't come until way after Basic also.

My DD has found the USAA website so much easier to navigate. Based on her ease of use, when the banks started talking about debit card fees my husband and I switched to USAA. I love them, I can walk into any UPS store if I need to deposit a check, all the ATM fees I get (to a certain limit) are reimbursed at the end of the month, and I could go on and on. Last week I made sure DS has an account with them before he leaves for BCT. I know initially his pay will be with AFBank, but wanted the other one there so he can make the changes when he wants. Long time ago (back when the dinosaurs ruled the world, teehee) USAA was strictly for officers, now any military affiliation will get you in I believe.

Quick clarifying question...are USAFA cadets REQUIRED to start with AFBank and can then later switch to USAA even if they already have USAA? I think that's what is being said here, but just wanted to make sure.

melinda, yes, they do have to start with AFBank but I believe can make the switch after their first paycheck. My son hasn't taken the time to do it yet, but another friend has and says its very easy to switch.

I've had AFB since they took over 1st Interstate/Wells Fargo at McChord in the 80s. Still use them, still love it. Never had a problem with them in 30 years.

This is not a paid advertisement. (but call me)

AFAYahoo said:

melinda, yes, they do have to start with AFBank but I believe can make the switch after their first paycheck. My son hasn't taken the time to do it yet, but another friend has and says its very easy to switch.

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Thanks for the clarity, AFAYahoo...good to know!