I currently have direct deposit with my USAA Classic Checking account, but all my finances are with Fidelity. Every time the money hits, I immediately transfer it all to my checking account in Fidelity.
I've been thinking about changing the direct deposit to my Fidelity account through myPay, but I wanted to check and see if there would be any cons of doing so. I don't think I'd incur any fees with USAA, but I've heard that USAA can protect against times when the government isn't running (shutdown, etc). Can anyone confirm/deny, or share any other considerations when changing direct deposit to a brokerage? Thanks!
Cons of changing direct deposit to Fidelity?
byu/SamS42 inMilitaryFinance
Posted by SamS42
2 Comments
I switched to Fidelity years back. There was a delay in my pay so switch the account right after you get paid. Not sure what you mean by USAA protecting against times when the government isn’t.
Some banks give free checking, but require direct deposit. It’s their way of making sure you bank with them and not just have accounts open willy nilly. Not sure if USAA is like that or not, but it’s something to look out for in general.