30 days and counting to boot camp - What needs to be set up ahead of time regarding banking?

[hodakmom]

My son will be leaving 30 days from today. The question came up about banking and money......is there a particular bank to use for direct deposit, or should we keep his account here at our local bank? Does he really need to have access to money during boot camp? What else should we have set up prior to him leaving? Anything you can provide advice wise would be helpful.

[Mary, Proud Mom of Nick]

Our insurance company allowed us to do "storage" rates basically meaning no one would be driving his car while it was under storage. The cost for six months was about equal to a month of his normal insurance. I'd call insurance company back and push for more info.

You cannot just cancel insurance if the car still has a bank note. The bank wants to make sure the car is always insured.
We recommend that you check into Navy Federal Credit Union, we have been members for 25 years and love them. They will give you son this option at boot camp but if you go on line now, he can open up an account with no money and they will mail him his debit card and checks so he can take a voided check with him for his direct deposit. They don't need a lot of money in boot camp, our son took $13 with him and a couple of weeks before graduation he asked if we could send some singles ...about $5 worth as they would send a couple of recruits to the NEx and they could bring back stuff for others - if they had cash. Good luck to your son!

[Georgie in Jax]

Actually they do need $5.00 to open an account. My son just opened his account about a month ago.

[SueS (ABF Mom)]

I might be late in answering but USAA insurance lets you take him off (actually just on hold) for any and all deployments where he won't have access to a car. I have used USAA insurance since 1984 and have NEVER had a single problem. Your son/daughter can get his own policy thru them if you are not eligible to join. Hope this helps.

[Debby]

I took my son off my policy and kept the truck on it... when he was able to get his truck and have insurance he went through USAA.. he was not penalized in anyway with higher rates for going so long with no insurance (which my agent said would happen I had allstate at the time)... My opinion its just the insurance company wanting more money.. they get more for kids under... 25 is it?? Just tell them he has his own now take him off mine... and have your son look into USAA when he can have his car again...

Debby

[Carrie, Mom of Sailor Cody]

My agent told me the same thing! I think I will call the company direct.........let me know what you find out!

[Vickie]

I just took my son off our insurance today. The reason on the paperwork simply stated, "going into the Navy". I did have to sign a form stating that he will be excluded from our policy.

[Annette (Erick's Mom--ATO)]

We have the same problem...Our home is still considered his permanent residence hence we can't get him off out car insurance. He could open his own policy, but that is very expensive at his age. He has been gone snce March 3 and we just have storage insurance on it. He is currently waiting to school up in Pensacola and it would still be a hassel to have his car...so here it sits He said if he has his car down there and he finishes school they may not give him enough time to drive to next duty station and then we will have to deal with getting the car transferred again. I am often wondering if he should have sold it before he went in. It's a beautiful car, that sits in our driveway or garage and he is making car payments while not driving it.

[DunedinNavyMom]

It depends on th einsurance carrier you have. There are some that give that courtesy but there are others that do not, at least here in Florida.

[Carol CGB]

My son kept his account w/ his own bank and when he went to bootcamp, despite giving him phone cards, they were all sent back w/ his civvies...as was his cellphone and the books he had taken w/ him on the plane. Minimum is best, I think his instructions said he could only have about $10 in cash.

I took care of his bills while in boot since he was on bill pay for his credit card and had no other real expenses.

[jenice baalman]

No one has mentioned so thought i would, the kids get "monopoly money" to spend on things at the store until accounts and paperwork are completed and active. My child never used any real money while there. I believe this is the same for all, that way they are all on the same playing-field so to speak.(the monopoly money is about 200-250, last quite awhile, since most everything else is provided for)

[jenice baalman]

ALSO JUST A QUICK NOTE, VERY IMPORTANT!!!!!! when the time comes, depending on "their" earnings, the first phone call is generally 5 minutes........(usually, if their meet their goals-this will happen around week 3). when you receive the phone call, be advised!!!!!!!!say I LOVE YOU and then just listen......they will have a zillion things to tell you and only 5 minutes to do so. The instructors will be standing there with a stop watch and the second i hits 5 minutes(if that is what they earn) a button is hit and the phone call is diconnected, sometimes during mid sentence....dont feel bad or get upset....this is done so that everyone- and i do mean everyone has exactly the same amount of time on the phone...that way all is fair. also, sailors tend to go through a really bad patch about midway.......this is during the time when they are finally broken..ALL IS GOOD.once this happens the instructors begin '''IMMEDIATELY'' building them up, but sometimes a letter to home makes it out during this time, rest assured all is as it should be. The kids always make it through and look back on it as the time when they came into their own!!!!!! For those of us left behind, we must simply support, encourage and love them while they are finding their way....

[Michelle (EOD Mom)]

I would like to point something out to everyone who uses Navy Federal....I am not sure if this applies to all banks but you may want to find out...We have talked alot in the DEPPERS group about getting power of attorneys....I am only talking bout power of attorneys that speak of financial stuff not medical stuff ...That is different...I spoke with Navy Federal the other day and found out that Power of Attorneys are only good for 24 hours with them from the date it is signed....Please remember I have gotten several different responses to the same question with them soooooooo...I am just going to go with the worse case scenerio...My son opted instead to make me a co-owner of his account...so that in the event he is unable to sign anything at the moment we dont have to worry about a power of attorney...It is definantly something to look in to very closely...Your Depper should choose someone if not you then someone else to be on his account in case of problems...BTW It is good to use Navy Federal because they have branches all over the world (I didnt read all the responses in this post so if I am repeating Im sorry :)

Just to let members that have a loved one in DEP know, please check out our DEPPERS...in but not yet group...There is ALOT of information that you could find useful :)