James A Luper's Blog – October 2009 Archive (3)

I called a friend of mine that has retired from the banking industry and explained to him my situation. What he said made a lot of sense to me, so I am writing it here in the hope that it will be as plain to you as it was to me after hearing it. T he banking industry has us kind of brainwashed. We use our cards like credit cards, but navfed has their cards named right (chekcard), if your card is linked to your checking account, it is in essense a check and should be treated as a check, when we… Continue

What Emanuel and I decided to do to try to keep him with a positive balance in the bank , was to get a prepaid debit card , So now that he has a positive balance, when he gets paid he takes some money out of his account with Navyfed and puts it on the prepaid card and this way he can't spend but what is on the prepaid card and can better keep control of his spending. thanks for all the responses. it makes me feel that my blog was worthwhile

I am putting this information out for our members to possibly help their relations that joined the military with understanding the banking system. I am not doing this to critizize the bank. My son jopined the Navy June of this year. When I went to Great Lakes for his graduation it costs us about $1000 for three days , a car and r/t plane. (I am retired on SS). After graduation he brought stuff at the Nex. His pay is direct deposited and with direct deposit there is something called Navchek… Continue