Best Banks for Military Personnel, 2018

Post on July 06, 2018

Service members face challenges, such as frequent moves and overseas deployments, that call for ease and simplicity in banking. These institutions feature no-hassle checking and savings accounts, as well as services tailored to military personnel.

Military members and veterans and their families can bank with USAA, which operates primarily online and offers a broad suite of products and services. The free Classic Checking account will reimburse up to $15 monthly in out-of-network ATM fees in the U.S. and has free overdraft transfers. (Through a pilot program in certain states, USAA is also offering CashBack Rewards Checking, which gives you 10 cents back on every debit card purchase.) ATM surcharges are not refunded for overseas transactions, but the foreign-transaction fee on debit card purchases and ATM withdrawals is only 1%. Savings accounts–including a youth savings account–are free.

Among USAA’s other offerings are insurance policies (including auto, homeowners, renters and life insurance), investment accounts (including IRAs and 529 plans) and resources especially for military members. The USAA website, for example, has a calculator to help military members estimate their potential retirement savings under the new Blended Retirement System. And USAA gained recognition from Corporate Insight for excellence in self-service options online and for presentation of transaction history and statements.

Click here to read the full article...