[Idyllchat] cash and credit cards

[Irvjane at aol.com]

In a message dated 11/25/2007 8:19:03 P.M. Central Standard Time,  
haggart at moscow.com writes:

That ATM card is no longer available to military  service members or retirees


Hi Pete.  Thanks for the update to the list. You did mean  "NON-military . . 
." I assume.
 
You're right, and I wasn't aware of the change but Wikipedia  knew:
 
_http://en.wikipedia.org/wiki/USAA#Banking_ 
(http://en.wikipedia.org/wiki/USAA#Banking)  
 
<<<
 
For many years, while USAA did not market to anyone  outside its niche, they 
would open bank accounts for qualified customers  requesting USAA's services. 
In July 2006 USAA chose to further focus on its  target market and will only 
extend new banking services to people eligible to  purchase P&C insurance from 
USAA. They continue to make an exception for  residents of _Bexar  County_ 
(http://en.wikipedia.org/wiki/Bexar_County)  (San Antonio, TX) and those people  
that already have a banking relationship with USAA.

>>>
 
Evidently that window doesn't work any more.  I'm not sure what  "qualified 
customers" means, but my 90 days active duty in the USAF Critical  Skills 
Reserves Program back in 1960 didn't qualify me as a Serviceperson  or retiree.  I 
think only these good people are eligible to purchase the  P&C insurance.
 
At the time I signed up, long before July 2006, I was told that because the  
"USAA Federal Savings Bank" was a "Federal Thrift," they had to offer the  
service to all US citizens.  Evidently that's changed, but here's more  on this 
banking vehicle:
 
_http://en.wikipedia.org/wiki/Federal_savings_associations_ 
(http://en.wikipedia.org/wiki/Federal_savings_associations)  
 
<<<
Federal savings associations (also  called "federal thrifts"), in the United 
States, are institutions chartered by  the _Office of Thrift Supervision_ 
(http://en.wikipedia.org/wiki/Office_of_Thrift_Supervision)  pursuant to the 
provisions of the _Home Owners' Loan Act_ 
(http://en.wikipedia.org/w/index.php?title=Home_Owners'_Loan_Act&action=edit) , a  U.S. federal statute. Although the 
activities of federal thrifts were once  confined primarily to taking deposits 
from consumers and making residential  mortgage loans, federal thrifts are now 
authorized to offer a wide range of  financial products and services.
 
Federal thrifts should not be confused with _national banks_ 
(http://en.wikipedia.org/wiki/National_bank)  which are  banks chartered under federal law by 
the _Office of the Comptroller of the Currency_ 
(http://en.wikipedia.org/wiki/Office_of_the_Comptroller_of_the_Currency) . Although the differences between 
federal thrifts and  national banks have diminished as the authorized 
activities of federal thrifts  have expanded to include virtually all traditional 
banking activities, they are  still distinct institutions subject to different 
regulatory schemes and  supervised by different regulators. 
>>>
I'll have to be careful not to let my USAA account lapse.  My pension  check 
gets deposited there and I pay most routine bills from it via the Internet  
(setting them up in advance for later payment) before we go on a trip).
 
 
Actually it was in ITN magazine that I first learned of the USAA ATM.   All 
Untourists should think about subscribing to this excellent travel  publication:
 
_http://www.intltravelnews.com/_ (http://www.intltravelnews.com/) 

 
Irv



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