The Best Free Checking Accounts for Military Members

There are so many free and not-so-free checking accounts out there that it can be hard to choose which one is right for you. If you are a member of the United States military and you are looking to open a new checking account or move to a new bank, there are many options. You should choose a bank that has lots of experience dealing with the military and cares about its members. Here are the three best banks and credit unions for military members to obtain a free checking account with.

USAA

USAA is one of the most popular banks for military personnel. You must be a military member, dependent, retiree or have some type of military affiliation to be a member of USAA. USAA offers a totally free checking account, with no hidden fees and no minimum balances. In addition, USAA can help you with all of your financial needs, including investments, insurance policies, credit cards, loans, online bill payments and other products. Perhaps the best part of banking with USAA, and the feature I personally use the most, is the online deposit. You can scan in a check or money order with your home scanner, and deposit it immediately. Alternatively, you can use their iPhone app, which allows you to take a picture of your check and deposit it on your phone. This gives you immediate access to your funds, and you no longer have to UPS the check to them. USAA is free to join, and you'll get a membership number that you can use for all your business with them.

Armed Forces Bank

Armed Forces Bank is another great bank offering free checking accounts for military members. They are a full-service bank, offering checking and savings accounts, savings bonds, loans, credit cards and CDs. You do not need to have a military affiliation to use Armed Forces Bank, but as the name implies, they do cater to military personnel and those affiliated with the military, so they understand the trials of deployments and military life.

Navy Federal Credit Union

Navy Federal Credit Union is a typical credit union, but only accepts military-affiliated members. You must be a current or former military member, military dependent, or employee of the Department of Defense. You can open an account online with a mere $5, funded by credit or debit card. NFCU offers home, auto, motorcycle, boat & RV loans, checking, savings, money market accounts and IRAs, direct deposit and online bill pay. In addition, NFCU offers debit cards, credit cards and pre-paid credit cards. As a military-only institution, NFCU is well-versed in military issues.

There are several great options for military members. The hardest part is picking the best for you.

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