How to pick a bank account
Follow these steps to help guide your decision.
Step 1: Ask questions about what is important to you
- How do I keep track of my balance and spending when I’m deployed?
- Can I talk to a real person anytime I need help? Do they have branches where I’ll be stationed overseas?
- What about a joint account with my spouse?
- Do they understand military terms and how we speak?
Step 2: Decide what you really need
- Three must-have features for any military-friendly account:
- Extensive network for 24/7 access
- Low account fees and free ATM use
- Military-friendly savings & loan options
Access: Your account should offer 24/7 worldwide access to your money.
- Local branches
- Online banking
- Free ATM network
- Online bill pay
Savings and loan options:
- Look for options that help you grow your money or build credit:
- Automatic Savings Programs and Competitive Interest Rates
- Rate Discounts for Servicemembers and Low-Interest or Secured Credit Cards and Preapproved Auto & Home Loans
- Low or No Fee Prepaid Debit Cards
- Low Cost Installment Loans and Financial Coaching Services Step
3: Your next steps: Your account is your responsibility. Aim for the next steps.
- Protect your pin and passwords
- Avoid spending more than you have
- Get expert financial coaching
- Keep track of your account
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