Armed Forces Bank

Armed Forces Bank

 3.6/5 (56 reviews)
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Overall Rating3.6 out of 5
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About Armed Forces Bank

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Armed Forces Bank provides banking services to those in the military community, with several products and services geared toward new recruits. It offers checking and savings accounts, credit cards, loans and mortgages. The bank has a long history of serving those in the U.S. armed forces, dating back to its founding in 1907.

Pros & Cons


  • Financial resources for military members
  • Rewards checking account
  • Early paydays
  • Large ATM network


  • All branches are on military bases
  • Most checking and savings accounts have monthly fees
  • Some accounts must be opened in person

Bottom Line

Armed Forces Bank serves the unique financial needs of military members and their families. Although anyone can open an account, all of its branches are located on military bases. Therefore, it’s best for active and retired military members and those with base access.

Top Armed Forces Bank Reviews

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My experience with customer service has been an exceptional one. I am very satisfied with Armed Forces Bank and appreciate that they recognize my service to this country. I wouldn...

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I have two accounts with Armed Forces Bank, and have had for six years. I find the customer service EXCELLENT! I see complaints in their reviews. I cannot believe them. I have nev...

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What is Armed Forces Bank?

Armed Forces Bank primarily serves the needs of active and retired military personnel and their families. The bank was founded in 1907 and is headquartered in Fort Leavenworth, Kansas. Today, it has branches located on military bases and a large, nationwide ATM network.

Armed Forces Bank provides customers with multiple financial products and services, including checking and savings accounts, loans, credit cards and online banking. Some of the bank’s standout products include checking accounts that come with discounts on loans, theme parks and shopping. Armed Forces Bank also offers special military loans and early direct deposits for military pay.

How does Armed Forces Bank work?

Armed Forces Bank focuses on serving the unique financial needs of military members and their families.

The bank understands the challenges faced by those who serve in the military, such as frequent deployments and moves, and has tailored its products and services to meet those needs. This includes providing access to financial services and support that can help military families manage their finances and achieve their financial goals.

While you can open Armed Forces Bank’s checking and savings accounts online, you’ll need to visit a branch location to open some other products. Armed Forces Bank has branches located on military bases in these states:

  • Alabama
  • Arizona
  • California
  • Colorado
  • Florida
  • Georgia
  • Illinois
  • Kansas
  • Kentucky
  • Missouri
  • Nevada
  • New Jersey
  • New York
  • Texas
  • Virginia
  • Washington
  • Wyoming

Armed Forces Bank products and services

You’ll find all types of business and personal banking products at Armed Forces Bank, including checking and savings accounts, certificates of deposit (CDs), credit cards, loans, mortgages and more.

All of Armed Forces Bank’s personal checking accounts have monthly fees that range from $5 to $20. However, some of these fees can be waived by maintaining a certain balance or completing certain account activities.

Access Investment Checking

The Access Investment Checking account earns a tiered interest rate and comes with unlimited ATM fee waivers. Account holders also get $250 off mortgage closing costs, free money orders and free cashier’s checks.

This account has a $20 monthly fee that can be waived when you maintain a minimum balance of $5,000 each day or an average balance of $10,000 each statement cycle.

Access Rewards Checking

Armed Forces Bank’s Access Rewards Checking account has a $6 nonwaivable monthly fee. In exchange for this fee, you get roadside assistance and credit file and identity monitoring as well as dark web monitoring. You also get discounts for online shopping, movies and theme parks.

Access Digital Checking

Access Digital Checking is a basic checking account that comes with free money orders. It has a $9 monthly fee that’s waived when you maintain a $250 average balance in each statement cycle or enroll in electronic statements and make at least 20 debit card transactions per month.

Student Checking

Armed Forces Bank’s Student Checking account is for students under 23 years old. It has a $5 monthly fee that’s waived if you enroll in online banking and electronic statements. One advantage of the account is that it can receive direct deposits up to one day early.

Armed Forces Bank gives customers a few different ways to grow their savings. All accounts are eligible for the bank’s Saving Cents program, which lets you round up your debit card purchases in an Armed Forces Bank checking account and save the spare change.

Savings Account

The Armed Forces Bank savings account has a low $25 minimum opening deposit and a $5 monthly fee that’s waived when you maintain a minimum $100 balance. The annual percentage yield (APY) is 0.03% (as of publication), which is lower than most high-yield savings accounts from online banks.

Student Savings

The Student Savings account is designed for young adults under age 23. It comes with a free ATM card, compounds interest quarterly and has no monthly service fee.

Premier Money Market

The Premier Money Market account earns a six-month introductory APY of 3.56% when you make a deposit of at least $10,000 (as of publication). Although there’s a $10 monthly fee, you can waive it by maintaining a minimum $1,000 daily balance.

Armed Forces Bank CDs have low $500 minimum opening deposits and terms that range from 30 days to five years. Yields are competitive with most online banks, with its 13-month CD earning 4.37% APY (as of publication). In addition to regular CDs, Armed Forces Bank also offers CD individual retirement accounts (IRAs).
Armed Forces Bank offers two credit cards. Its regular, unsecured Visa credit card is for those with good credit and can only be applied for in person at a branch. It has no annual fee and a credit limit of up to $10,000.

The Armed Forces Bank Credit Builder Secured Visa Credit Card is for those who need help establishing or improving their credit score. It has a credit limit ranging from $300 to $3,000.

Armed Forces Bank mortgages include VA loans, conventional loans, FHA loans and jumbo loans. The bank also has a Hero Loan Program for veterans, educators, law enforcement officers, firefighters, EMTs and nurses. The program includes $0 lender origination fees, fast approvals and a dedicated loan advisor. Each mortgage comes with a mortgage service guarantee, where you’ll get $1,000 if your loan doesn’t close on time.

Armed Forces Bank fees

Most of Armed Forces Bank’s personal checking and savings accounts have monthly fees attached. These fees range from $5 to $20 per month, depending on the account. However, all of these fees can be waived when you meet certain account requirements. The only exception is the Access Rewards Checking account, which has a $6 nonwaivable monthly fee.

In addition to monthly fees, Armed Forces Bank charges the following:

  • $20 for most overdrafts and declined transactions, up to $100 per day
  • $5 for paper statements
  • $20 if you close your account within 90 days of opening
  • 50 cents for nonnetwork denied ATM transactions

Armed Forces Bank FAQ

Can anyone join Armed Forces Bank?

Anyone can join Armed Forces Bank. You do not have to be affiliated with the military to open an account. However, all of its bank branches are located on military bases, so you’ll need base access to stop by a branch.

Where can I deposit money into my Armed Forces Bank account?

If you have an Armed Forces Bank debit card, you can deposit cash at any Walmart location. You can also stop by a branch location to make a deposit.

Who owns Armed Forces Bank?

Dickinson Financial Corporation owns Armed Forces Bank. This company is headquartered in Kansas City, Missouri, and also owns Academy Bank, which is the sister bank of Armed Forces Bank.

Is Armed Forces Bank a good bank?

If you’re an active or retired member of the military, Armed Forces Bank may be a good choice for your banking needs. However, it’s important to compare its products and fees with those of other banks to ensure you’re getting the best account for your financial situation.

Does Armed Forces Bank use Zelle?

Armed Forces Bank uses Zelle, a platform that allows you to send and receive money from friends and family. To use Zelle, navigate to “Bill Pay” and then “Send Money with Zelle” via Armed Forces Bank’s online banking or mobile app.

Is Armed Forces Bank legit?

Armed Forces Bank is a legitimate financial institution that primarily serves active and retired military personnel and their families, although it’s open to anyone.

One benefit of using Armed Forces Bank is its focus on serving the specific financial needs of military members and their families. The bank offers specialized products and services, such as military loans and financial resources for new recruits.

However, there are some potential drawbacks. One is that all of its branches are located on military bases. If you don’t have base access, you’ll need to be comfortable doing all your banking online. Additionally, most of Armed Forces Bank’s accounts have monthly fees, but those can usually be waived when you meet certain account requirements.

Armed Forces Bank Reviews

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Page 1 Reviews 0 - 10
Verified Reviewer
Original review: April 3, 2023

I’ve had the card for about 3 years and I’ve never missed a payment. I’ve reached out asking if they would upgrade me to an unsecured card and they’ve refused and were rather rude about it. Then they ding my credit twice in a row with hard inquiries. Might just close the account to force them to give up my deposit.

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Verified Reviewer
Original review: Dec. 31, 2022

I became a customer at Ft Knox in 1993. I remained a loyal customer through numerous deployments throughout the world! Even though hard time I trusted AFB with my money and they never let me down. UNTIL they decided to sell out the customer for GREED! In the past year my debit card has been cancelled 2 times and how did I find out by being embarrassed in a line of people with 500 dollars worth of groceries.

I called the bank and was told there was an unauthorized charge on my card, "We text you and emailed you"? "Who emailed me" I asked, they said VISA. Well that's silly. That's in junk cause I would not accept an email from Visa unless they let me know and I approve it. "Did they tell me in advance so I could approve their email address?" "We don't know!" Who authorized them to text me? Then I said, "You mean the text I sent to your fraud department stating I got a text about a charge on my card." Telling them it look suspicious. Then she went on to say it was VISA not the bank. OK then let me talk to them ("Oh we can't do that"). So then "Ma'am it is the bank. The card has AFB LOGO ON IT IT'S YOUR PROBLEM!"

After several iterations of questions and answers like I am a criminal. I was told. "We are sorry for the inconvenience we will send you a new card. It will take about a week or to arrive. Is there anything else I can help you with?" I said "Yes there is. What's the max I can transfer bank to bank without any fees involved and how often can I make those transactions?" She told me. She asked anything else. I said "No not yet but soon!"

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    Verified Reviewer
    Original review: April 26, 2022

    First off, they don’t even get a half of star. Been dealing with this bank since 2009, watched it slowly, then recently rapidly decline. Hidden fees unexplained about how the system updates, what time the system updates, who the system updates for? This is getting ridiculous. Posted vs pending transactions, 20$ fee, 60$ overdraft fee for the same item. Customer service is the worst in the banking industry, won’t let you close your account, wanting to charge you more fees, for something that has already cleared? Pending overdraft fee?? I'm thinking class-action lawsuit.

    6 people found this review helpful
    Verified Reviewer
    Original review: April 13, 2022

    I transferred money from my other acct to AFB on a weekday, they transfer I made could not "post" until midnight. So since it was a weekend I had to wait until Tuesday to transfer the money. Oh, I couldn't transfer the money because I've already exceeded my transfer limit by 13 cents. I called customer service to conduct a wire from my OWN account and MY OWN money, the manager said they cannot override the limit so I had to wait for the following month...I had a 700$ loan with them, I made 16 $85 dollar payments, I still owed 540$ because those payments were for gosh!!!! DO NOT BANK WITH AFB.

    3 people found this review helpful
    Verified Reviewer
    Original review: March 5, 2022

    If you have a card stolen you will not be able to get in contact with them because they are closed weekends and holidays! I find one of the question for verification very wrong, seriously who the heck knows when a parent got their social security card, as many people have had their parents get it for them as a child!

    3 people found this review helpful
    Verified Reviewer
    Original review: Jan. 27, 2022

    This is the worst bank I have ever dealt with.

    1 - Their app is clunky and crashes have the time. Their chat feature is horrible.
    2 - I can’t tell you how many times it blocks me when I’m trying to do something, and I have to call to unlock my account.
    3 - I’ve transferred money only to have it never show up or have to do so all over again.
    4 - Their customer service is subpar.
    5 - Trying to do anything with them is always a huge inconvenience!
    6 - They just finally now added Apple Pay in 2021…way behind the times!

    7 - Finally, I ordered checks in November. Never received them, never heard from the bank on it. Suddenly in December I’m getting notices the bank sent me to collections. They never once contacted me!

    Fed up and closing my account.

    4 people found this review helpful
    Verified Reviewer
    Original review: June 27, 2021

    Went to Luke Air Force Base, Armed Forces Bank (AFB) branch to cash a Fidelity Investment Account check that I wrote to myself for $3000. Manager and senior manager decided AFB WOULD NOT CASH THE CHECK. Best I could do was deposit it and get cash in several day after it cleared. Obviously, I wanted cash immediately or I wouldn’t have travelled 30 miles to go to the brick and mortar bank. I have a checking account with AFB, have been a member of the credit union for maybe 40 years, am a retired Army officer with great credit history (near 800 credit score), plenty of money in my Fidelity account and just needed cash. Further, I view $3000 as a small amount of cash and did not expect AFB to give me any problem cashing this check. Much to my chagrin managers told me no to cashing this check.

    I am appalled that AFB would behave in this manner, feel extraordinarily disrespected and angry that I wasted my time going to AFB for this matter. I’m sure I could have went to Navy Federal Credit Union and been treated better - and got the cash. I could have even electronically deposited the check in my account at USAA and had immediate access to the funds. As I told The manager, AFB is acting like a third rate Archaic institution that is not focused on the customer. Also, what financial risk is AFB taking in cashing this check. I believe it is near zero. The damage is done. I’ll never go to the Luke Branch again and I’m evaluating the process and pain of closing my AFB account.

    Further, you can guarantee I’m not going to be a happy customer heaping praise on AFB. Additionally, about two years ago my cash card was compromised and AFB behaved like armatures in resolving the problem. This is the second compromise I’ve experienced. AFB NOT IMPRESSIVE. You militarymembers should avoid this marginal institution.

    6 people found this review helpful
    Verified Reviewer
    Original review: June 20, 2021

    I started with AF Bank in 2001 and from 2001 until probably 2010 I was pretty satisfied with AF Bank. My satisfaction with this bank occurred from 2010 until 2021. Over a 24 year Army career, including many years overseas, we never had any problems with our checking account and I was always able to speak with a polite and knowledgeable customer service rep but that changed! Looking back on my 2 decade long experience I would say that the culture of the bank changed. I no longer believe that this bank is looking out for the "Armed Forces" and that they are more interested in charging fees.

    My breaking point was on a recent phone call in which the customer service rep was literally reading from a script to essentially tell me that fees and overdraft protection is based upon a computer algorithm. There is simply no humanity and no acknowledgement of the millions of dollars that have been deposited into my bank account for the past 20 years. I am now very happy to call USAA home for my family.

    3 people found this review helpful
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    Verified Reviewer
    Original review: May 6, 2021

    This year has been awful for me. I am so thankful for the men and women of this business. Several time I have locked myself out of my phone. No problem (always there to help). Lately I have had attempts of people trying to take money from my account. The Armed Forces Bank personnel worked so very hard to help. To all of the personnel that have helped me. Thank You.

    2 people found this review helpful
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    Verified Reviewer
    Original review: Nov. 25, 2020

    I do not write reviews often, but felt compelled to do so today. I became a member of Armed Forces Bank, on November 17, 2020. I spoke to Mark and Tammi. Both awesome representatives. The opening of my Access Checking and Saving went smoothly. I decided to open a Secured Credit Card the same day. It was processed so fast, that the credit card information appeared on my Credit report on 11/24/2020 and I received the card, later the same day. I kid you not!... I received a notification from Transunion advising Armed Forces Bank Secured Card had been added to my report and it had increased by 40 points. Thank you all so very much for your down to earth demeanor, professionalism and seamless account opening. Today is 11/25/2020. Happy Holidays.

    2 people found this review helpful
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    Armed Forces Bank Company Information

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    Armed Forces Bank