FEBRUARY 11, 2025 – The U.S. Army will sunset its EagleCash Stored Value Card Program by the end of Fiscal Year 2025.
“After careful evaluation of usage, cost, and relevance in today’s technological landscape, the Army determined that its participation in the EagleCash program is no longer the most efficient or cost-effective way to provide financial services to its personnel,” said Col. Michelle M. Williams, U.S. Army Financial Management Command commander.
The EagleCash program was spearheaded by the Army in partnership with the U.S. Treasury in 1997 as an alternative to cash, debit cards and credit cards and currently provides for service members’ financial needs while also protecting their financial information.
The cards are linked to cardholders’ personal accounts at their respective financial institutions and add a layer of security. Funds are loaded on them at military finance offices and self-service kiosks around the globe, similar to a pre-paid gift card.
Terminating the program saves the Army $1.7 million in costs and administrative expenses a year during a time when the Army’s usage of the program is down 92.6 percent from its high mark in 2010 when it processed $1.9 billion annually.
“The EagleCash program has been instrumental in serving the Army, enabling seamless and secure transactions even in the most challenging environments,” stated Tony Taylor, USAFMCOM eCommerce and banking director. “The decision to retire the program was driven by our commitment to stay relevant in today’s evolving technological landscape.”
According to the Army’s studies on the transition, the change, which is only for the Army’s EagleCash program, will have marginal impact on various operational areas including dining facilities, Army and Air Force Exchange Service locations, postal services, basic training sites, and deployed locations.
“The operational and technological landscape has evolved significantly since 1997, and especially in the years following the events of 9/11,” Taylor remarked. “Our current environment reflects remarkable advancements and changes, highlighting the progress we’ve made in cyber, infrastructure and financial technology capabilities over the decades.”
Per the Army’s evaluation of the program, the EagleCash system remained largely unchanged since the mid-2010s, while the commercial Payment Card Industry experienced exponential technological advancements that offer superior alternatives at more competitive prices.
Over the next year, the Army will transition to some of these modern payment technologies, leveraging various mobile applications and minimal-equipment solutions that are tailored to each need, reduce costs and improve service delivery.
These include:
- Army Dining Facilities: The Joint Culinary Center of Excellence will continue their deployment of debit and credit card point-of-sale devices so Soldiers can pay for DFAC meals with their personal cards;
- Army Basic Combat Training Sites: USAFMCOM will transition all Army BCTs to a U.S. Debit Card Program with Visa-branded debit cards;
- Savings Deposit Program: USAFMCOM will transition the SDP to Pay.gov to allow authorized deployed Soldiers to enroll and establish their SDP through a mobile device anywhere in the world; and
- Foreign currency exchanges: Army finance offices will have the ability to process these on the U.S. Treasury’s Over-the-Counter Channel Application, or OTCNet.
“This change will enable the Army to take advantage of superior alternatives, many of which are already in place and working now, that offer greater flexibility, convenience, and security,” explained Taylor.
“We recognize this change represents a shift in support to our warfighters, but this is essential to providing better, faster, and more cost-effective financial services,” concluded Williams.
USAFMCOM manages the EagleCash program for the Office of the Assistant Secretary of the Army for Financial Management and Comptroller.
Story by Mark Orders-Woempner
U.S. Army Financial Management Command