the way it works is regardless of what rank you get signed up for, you get paid as an E-1 thru boot camp, and you get promoted at the end of basic, if it's in your contract. When I went thru, everyone is issued a bank account (the particular bank depends on where you go for basic), and you're money get direct deposited into that. You have to use that account until you're through with basic. I'd suggest switching once you're done though, the military doesn't use the best banks.