so there's about five different checking accounts when Navy Federal but one in particular out of the five is the one that I recommend that you guys start looking into most people that bank when Navy Federal don't even know that this checking account exists because most people don't really care about these few extra perks like making and saving a few extra dollars every month so in this video I'm just going to be enlightening you guys on the Navy Federal Flagship checking account and everything you need to know about it if you're already subscribed then welcome back but if you guys are new to my channel my name is is Sanford and you are now watching just money where we talk about financial related topics such as personal and business credit real estate and other Financial related topic so that's something you're into then you're probably going to want to consider subscribing but without further Ado let's get into today's video so for those of you out there who are new to banking with Navy Federal when you first open up your account they're going to ask you what type of checking account would you like to have now there are going to be five different checking accounts that you can choose from but most of you are only going to qualify for about four of them and I say this because one of the checking accounts that they have are for people who are or were in the military and that checking account is going to be called the free active duty checking account but in this video we're going to be focusing on the flagship checking account and why you should have it now anybody out there can have the flagship checking account however there are going to be requirements in order to have it since this checking account offers more beneficial perks than the other Navy Federal checking accounts there will be a $10 monthly fee for this account however you can have this $10 fee Wade if you have $1,500 or more in your bank account at all times now one of the reasons why the flagship checking account stands out from all of the other Navy Federal checking accounts is because the annual percentage yield and the dividend rate is a whole lot higher than all of the other checking accounts so the dividend rate in apy will be anywhere from 0.35% to 0 . 45% at the time of this recording so from having this Flagship checking account you'll earn more money because the dividend rate is higher than all of the other checking accounts the dividend rate is compiled daily and then deposited monthly on the 1 of every month so let's say for example you open the account on the 16th the dividend rate will account for about 14 days or however many days there are left out of the month and then on the first of the month they will pay the dividends to you based on whatever amount of money you had in the account the month previous so by having the Navy Federal Flagship checking account this can actually earn you more money because if we take a brief look at the other checking accounts like the free everyday checking account the dividend rate on there is only going to be 0.01% which is pretty much nothing and to have that checking account you pretty much don't need anything like a direct deposit or a minimum that needs to be in the bank at all times so anybody qualifies for that checking account and then if we look at the free easy checking account the dividend rate is going to be a little higher at a 0.05% but still not as high as the flagship checking account though but in order to have the free easy checking account you must have a direct deposit setup with Navy Federal either that or use your Navy Federal debit card for at least 20 transactions within 6 months now the other checking account that Navy Federal has is going to be the free campus checking account and the dividend rate and apy on that is going to be 0.05% so pretty much the same thing as the free easy cheing account but the only difference is to have this account you must be between the ages of 14 to 24 if you are not between those ages then you will not qualify for this checking account now the apy and dividend rate is going to be the same on the free active duty checking account at a 0.05% but like I said earlier most of you guys will not qualify for this if you are not in the military so out of all these checking accounts you'll make the most money from having the flagship checking account so that's why you guys need to start looking into it another reason why you might want the flagship checking account is because they offer ATM rebates all the way up to $120 a year if you have a direct deposit setup but the catch is you can only receive up to $10 per month in ATM rebates and for those that don't know what ATM rebates are they're pretty much refunds from ATM charges so it's actually pretty cool that Navy Federal does this now all of the other checking accounts that Navy Federal has are going to offer ATM rebates but just not the free everyday checking account if you have the free everyday checking account then you will not have this perk the free everyday checking account is the least desired account that you can have with Navy Federal I had this checking account at first when I was new because I really didn't know too much about their checking accounts that they had I thought it was just one checking account and that was it but apparently that is not the case scenario most people out there have this account and they don't even know it so that's kind of why I'm glad making this video just so I can let everybody know what I didn't know at the time being and if you have this checkin account then no need to worry you can switch this checkin account anytime you like to you can choose to switch the account on the Navy Federal app or you can actually just call Navy Federal and then have them do it but I would personally recommend to get the flagship check in account for three reasons one since there's a fee to have this checking account every month if you don't have at least $1,500 in there this makes you want to have at least $1,500 in your account every month so that way you don't get charged the fee so it's kind of like a way to force you to save your money or just not spend your money on things that you do not need number two the apy and the dividend rate are way higher than all of the other checking accounts literally so if you at least have $1,500 in your Flagship checking account then at least you'll be earning a dividend rate on that every month but just like it says on the Navy Federal website the higher your balance the greater the dividends and then number three this you build a better relationship with Navy Federal it helps you build a better relationship with Navy Federal because if you have some kind of direct deposit setup which is huge and some kind of money in your bank account already then this will work in your favor nabe Federal likes to see when you are using them as your primary bank because this shows that you're here for the long run so by having the flagship checking account this can actually help you attain a high limit credit card or even a low interest rate on any of their loans so I would definitely recommend the flagship checking account and that you start looking into it but that's pretty much it for today's video guys I hope you guys found value in any of this information let me know in the comments down below what checking account do you have whenever you Federal I would like to know and since you guys been asking I now offer one-on-one consultations the link will always be in the description below but if you guys made it to the end of the video we are at 27,485 subscribers at the time of this recording so I do appreciate all who watch I do Post weekly videos for those that don't know and if you guys haven't yet already don't forget to hit the like button subscribe to the channel if you guys haven't yet already and don't forget to hit the notification Bell so that way you guys get notified every time I is post a new video and again we talking about personal business credit real estate and other Financial related topics so that's something you're into then you're probably going to want to consider subscri we talk about how to get high limits on your guys' credit cards we talk about how to boost your personal credit how to obtain business credit we talk about real estate we talk about mortgage loan programs we talk about all that so this is your One-Stop shop and for those that don't know I'm a licensed realtor a real estate agent and I'm also a licensed mortgage loan originator as well so if you guys have any questions or concerns in regards real estate all my information will always be in the description below but thank you guys so much for watching and I will see you in the next video thanks for watching [Music] yeah