Discussion in 'Military Academy - USMA' started by CodyL, Jan 3, 2014.
What is the best bank account to use while at the academy and can I sign up for it before I go?
I'm not a current cadet, but I've heard that USAA is a pretty great bank for cadets. That's where I set up my account for my direct deposit - you definitely can set it up before you go, and you actually have to have a bank account set up to have your direct deposits linked to (for your cadet pay).
USAA was really easy for me to set up, and they worked with me very well. I don't have a lot of experience with any of the other 'cadet banks,' though.
I am not related to anyone in the military so will I still be able to setup an account there?
USAA is the standard because they have a branch there. You can look up their number on line and call them.
Push Hard, Press Forward
You will be military when you get there. You can open an account then. They might also work with you as a candidate.
When you have accepted your offer of appointment, your portal will open up with a second step kit to get things finished. The turning of the "red dots into green". One of the things to do is to fill out a form for bank accounts, so you can manage your money. This is when most CC will open a USAA account.
Push Hard, Press Forward
Cadets are (or at least were for the class of 2015) forced to open an account at PenFed. That is where you student account is/was set up. If you get a privately funded scholarship (like my kid did), you can direct it to there. After about a year, you can then access the account. So, my kid's scholarship just became a bonus check for him....
Is that the cadet account or the personal account?
This is the Cadet account. My kid also has USAA account...
Alright thanks for the help, I guess I will be waiting until march to setup a bank account then.
You'll have a cadet account that you can't touch which PenFed runs. You'll also have a checking/savings account set up for you through PenFed that you have no choice in which is how the Treasury can move money for you from your cadet account for book money, rations, etc. You can use that as your normal checkings/saving and be fine.
With that said, I use USAA because I had it before going to the Academy and find it a lot easier to work with in terms of their online banking and other services they provide.
When i first got here, i made an account with USAA (i have two other accounts back home). Its much easier with USAA because it is close by, and offers a good return on investments with your money. You will automatically have a PenFed account when you come here, but my main banking service is USAA.
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