Skip Navigation
Wed Aug 20, 2014
 
Army OneSource
Army OneSource
Army OneSource
Commander's Page Online Training
Volunteer Tools ARMYBook
My AOS Page Services Locator

Question & Answer Listing

Select a Question & Answer entry to see a list of service providers.

Financial Affairs -- Question & Answer Listing  
Viewing 1-10 of 18 Knowledge Entries
Page 1 of 2 Next 8 Knowledge Entries >
Go to page:  
Question / Answer

Question:
As a member of a reserve component, am I entitled to CONUS COLA?

Answer:
By law, a member with a Reserve Component is required to be on active duty 140 days before he/she is entitled to a CONUS Cost of Living Allowance (COLA), unless the call or order to active duty is in support of a contingency operation.

Question:
As a National Guard or Reserve Soldier on Inactive Duty Training (IDT), am I entitled to Basic Allowance for Subsistence (BAS)?

Answer:
National Guard or Reserve Soldiers on periods of Inactive Duty Training (IDT) are not entitled to BAS, however the government may provide lodging in-kind when quarters are available.

Question:
Can my spouse have access to my Leave and Earnings Statement (LES)?

Answer:
You can allow your spouse to have access to your Leave and Earnings Statement (LES) by making those arrangements with your Finance NCO or unit POC. For example, during deployments you may be requested to complete a form or authorization letter to this effect. You can also supply your spouse with a Restricted Access Personal Identification Number (RAPIN) which provides view-only access to your LES via MyPay on the Defense Finance and Accounting Service (DFAS) website.

Question:
How do I go about establishing basic utility services when I move into a new residence?

Answer:
If you found your new home or apartment using a real estate agent, he/she can probably provide you with the contact information for the water authority, gas and/or electric company, and other utility companies that service your neighborhood. You can also ask your landlord, if renting, for this information, the previous owners of the house, or your new neighbors. The Relocation Readiness office in your military community can also assist you in finding out which utility companies service your neighborhood.

Question:
How do I set up direct deposit of my pay into my bank account?

Answer:
To sign up for Direct Deposit of your paycheck, retirement check, government check, or other recurring electronic funds deposit to your bank account, you will need to complete a Direct Deposit Authorization Form that includes your name, Social Security Number, and specific bank information (account routing numbers, bank address, etc.) and submit it to your employer for processing. Attaching a voided check or deposit slip can often be helpful. It usually takes a paycheck or two before the automatic deposits begin, so follow-up with your financial institution.

Question:
If I adopt a child born in a foreign country, will my adoption expenses be reimbursed?

Answer:
Active duty military members can be reimbursed for documented, reasonable, and necessary "qualifying" adoption expenses up to $2000 per adoptive child, but not more than $5000 per calendar year. A "qualifying" adoption refers to a child under the age of 18, intercountry adoptions, and adoptions of children with special needs and only if they are arranged by a qualified adoption agency. The adoption must have been arranged through a state or local government agency or through a nonprofit voluntary adoption agency that is authorized by state or local law to place children for adoption. Private adoptions and adoptions of stepchildren are not covered. Check with your military legal and/or finance officer for more information.

Question:
Is it better to own or rent a house?

Answer:
Deciding whether to rent or buy a house when you relocate to a new community is an important personal decision. Research the areas you are interested in and compare the cost of renting to the cost of owning using. Review your personal finances to determine whether you can afford to take on a mortgage and if so, how large a loan would you be comfortable with. Consider historical trends on rent increases and home appreciation (or depreciation). How long do you expect to live in this house? These are just a few issues to consider when making a decision on whether to rent or buy a home. There are a number of resources that can assist you with this decision such as books and websites, real estate agents and relocation specialists, and home ownership seminars.

Question:
What are the advantages and disadvantages of automated teller machine cards, check cards, debit cards, banking on-line, and on-line bill payment?

Answer:
The obvious advantage is convenience. The disadvantage is that you must remember, for example with ATM and debit card transactions, to record them so your account can be balanced properly. Additionally, there are security issues to be aware of when using some of these banking features. Safeguard your user IDs, passwords, and personal identification numbers (PINs) to protect yourself from becoming a victim of identity theft or fraud.

Question:
What documentation and/or requirements are needed to withdraw money from my Soldier's bank account or to receive and deposit/cash a check in his soldier's name?

Answer:
In most cases, you must be a joint account holder to be allowed to withdraw money from your Soldier's account. However, most banks will allow you to make a deposit into your Soldier's account. A Power of Attorney may authorize you check cashing/withdrawal privileges, but it is best to check with your financial institution for their specific requirements.

Question:
What does "reconciling my financial statement" (or balancing my checkbook) mean and how do I do it?

Answer:
Reconciling your financial statement (or balancing your checkbook) refers to verifying that your records (your checkbook register) match the bank's records, as shown on your monthly bank statement. For example, you will need to review your statement to see which checks have cleared and which haven't; ensure that any deposits, automatic withdrawals, and debit card/ATM transactions are recorded. Your financial institution may be able to provide you with step-by-step instructions on how to balance your checkbook or you can visit the Financial Readiness office at in the Army Community Service (ACS) center for assistance. There are many financial planning resources available online that can also provide information on reconciling bank statements such as http://financialplan.about.com/.
Viewing 1-10 of 18 Knowledge Entries
Page 1 of 2 Next 8 Knowledge Entries >
Go to page:  

Full Website
This site may not be optimized
for a mobile browsing experience.
OK
Please don't show me this again: