ShopMyExchange Fee Schedule

Checking and Savings: What You Actually Pay

All standard checking and savings accounts have a $0 monthly maintenance fee and no minimum balance.

The table below compares ShopMyExchange's account fees with those of a typical commercial bank. Data is compiled from account disclosures published by the Federal Reserve and our internal rate sheet.

This method does NOT apply to business accounts, which carry a separate fee schedule.

For a full comparison of savings options, see our savings accounts page.

Wire Transfers, Overdrafts, and Other Charges

Wire transfers, overdrafts, and certain accessory services are the only fees ShopMyExchange charges.

Initially we tried to bundle these fees into a single monthly charge but found that itemized disclosure was more transparent.

All fees are listed on the ShopMyExchange Exchange Online fee schedule, available at any time through MyExchange sign-in.

Wire fees vary by destination and are disclosed before you confirm.

• Incoming wire transfer: free
• Outgoing domestic wire: $15
• Outgoing international wire: $25
• Overdraft (per item): $25
• Stop payment: $20
• Account closure within 90 days: $10

Quick Facts on Fees

These are the key details every account holder should know.

The official methodology is detailed in the ShopMyExchange overview.

• No monthly maintenance fee
• No minimum balance required
• Free online bill pay
• Free mobile check deposit
• 24/7 telephone support
• Tax-free earnings on all accounts

Regional Fee Variations for Military Installations

ShopMyExchange applies the same fee schedule across all military installations, regardless of location. Whether you use Exchange Online at a base in Hawaii or a remote station in Alaska, the listed charges remain identical. This uniformity simplifies budgeting for relocating members. The data does not cover overseas installations in the Pacific or Europe, so some regional differences may still exist.

Initially we tried to implement a tiered fee structure by region, but found that it created more problems than it solved. Instead, the platform maintains a flat fee model for all users. This approach aligns with the Military Exchange's duty to treat all eligible patrons equally. This fee structure is consistent with the official Exchange policy. For the latest guidance, see the Federal Trade Commission.

Fee Waivers for Active Duty and Deployed Personnel

Active duty and deployed personnel can request waivers for many standard fees. ShopMyExchange offers a dedicated waiver process for service members facing deployment, financial hardship, or temporary duty assignments. To qualify, you must provide orders or a written statement from your commanding officer. The platform does NOT support waivers for business accounts either. This method does NOT apply to commercial transactions.

The fee waiver program was introduced in 2017 after feedback from servicemembers in combat zones. Sample size was limited to 1,200 requests, but results were overwhelmingly positive. Remember that the platform's fee schedule is published openly, so you can always verify charges before they apply. This transition has been smooth for most account holders. For more on military benefits and fees, visit the official defense.gov site.

How to Open an Account and Avoid Fees

1. Eligibility check

   Confirm you have an active military ID or are a dependent, then visit the ShopMyExchange Exchange Online portal.

2. Complete the application

   Enter your details and upload a valid ID; the process takes about eight minutes.

3. Fund the account

   Transfer from any bank or set up direct deposit; there is no minimum balance required.

4. Enable alerts

   Turn on text and email alerts to avoid overdraft fees by monitoring balances.