NFCU Transfer Question

Anonymous · ‎12-14-2014

Luella Everyone
Since I got approved for the CashRewards in November I have made a couple payments but only through my outside checking account not with NFCU that took 1 business day to clear. Tonight I made my first payment as a Inhouse transfer from my share saving to my CashRewards. I just assumed it was a instant transfer. The money is already taken out of my savings but it's not reflected on my credit card balance or credit limit. Is this normal? If so how long does it take. I don't have a need for the money to be available right away Im just new to all of this and want to make sure I didn't do anything wrong. Thanks so much in advance everyone.

Chaselover · ‎12-14-2014

@Anonymous wrote:
Luella Everyone
Since I got approved for the CashRewards in November I have made a couple payments but only through my outside checking account not with NFCU that took 1 business day to clear. Tonight I made my first payment as a Inhouse transfer from my share saving to my CashRewards. I just assumed it was a instant transfer. The money is already taken out of my savings but it's not reflected on my credit card balance or credit limit. Is this normal? If so how long does it take. I don't have a need for the money to be available right away Im just new to all of this and want to make sure I didn't do anything wrong. Thanks so much in advance everyone.

thats very normal.

its not an instant transfer even if it is a savings or checking account, it can take upto 2 days. hopefully, u dont have a statement cut tomorrow.

In a committed relationship with Chase from 12/2012.
Age: 26, Income: $59,240/-, Current score: TU from CK: 750/A (12/24/14), TU Vantage score from CK: 775/C (12/24/14), Experian from Creditsesame: 717, Equifax from myfico: 724, Overall Util: 1% (12/24/14), Total credit limits: $62,150, In the garden from 12/19/2014, AAoA : 7 months, Oldest account: 8 months, Newest account: 1 week, HP: 18.

Anonymous · ‎12-14-2014

Okay great thanks so much. No my statement isn't due till the 28th and my statement cut on 12/3 so I don't think it will cut again till 1/3. Thanks so much again. I didn't know if I should be worried or not.

Creditaddict · ‎12-14-2014

@Anonymous wrote:
Okay great thanks so much. No my statement isn't due till the 28th and my statement cut on 12/3 so I don't think it will cut again till 1/3. Thanks so much again. I didn't know if I should be worried or not.

it's instant in the system for them just not for you!

however if you make a transfer from your credit card to checking or savings it will be instant for you!

I did that today for $10k and was able to instantly use the $10k from my checking accounts

USF813 · ‎12-14-2014

This is one of the things I don't like about Navy. My DCCU payment posts immediately and my available credit is adjusted at the same time. My Grow Financial mortgage payment updates within minutes. Navy really has no excuse for payments to remain in suspension until after midnight or worse - over the weekend until Monday night at midnight. As far as I'm concerned, you've paid your bill. Available credit should be adjusted as soon as you submit your payment.

You know what's worse? It takes Navy FIVE days to post a cash deposit from a non-Navy ATM. Cash!!! FIVE DAYS!!

ecxpa · ‎12-14-2014

@Anonymous wrote:
Luella Everyone
Since I got approved for the CashRewards in November I have made a couple payments but only through my outside checking account not with NFCU that took 1 business day to clear. Tonight I made my first payment as a Inhouse transfer from my share saving to my CashRewards. I just assumed it was a instant transfer. The money is already taken out of my savings but it's not reflected on my credit card balance or credit limit. Is this normal? If so how long does it take. I don't have a need for the money to be available right away Im just new to all of this and want to make sure I didn't do anything wrong. Thanks so much in advance everyone.

I'm new to Navy and just got my CashRewards card.......no statement cut yet but was just trying to set up outside checking acct to make payments and cannot find out how to do it on the site; do you have to use Speed Pay to pay accounts and fund NFCU checking acct?. Can you not use an outside checking acct to make payments and transfer funds to NFCU checking online.

Anonymous · ‎12-15-2014

CreditAddict- okay thanks so much!! Wow I didn't know you could do that with you CC and checking. Is that counted as a cash advance and I know there is a lot of debate with cash advances and banks so I never ask for a pin for any of my cards but is NFCU okay with cash advances of do they frown on them like other banks do? Thanks so much again for the info.

USF813- thanks for your help. Wow 5 days for a cash deposit. is a cash deposit instant at a NFCU ATM? Also what Non-NFCU ATMs take cash deposits for NFCU? I have looked everywhere and when I check my area online it says ATMs at Royal Farms take them (states CASH DEP next to the royal farms ATMs on NFCU's website) but I went to check and there was no option for a cash deposit or actually any deposit at all.

Anonymous · ‎12-15-2014

Ecxpa- congrats on becoming a NFCU member and the cash rewards approval. I have loved NFCU so far. If u ever have any questions about NFCU CreditAddict is the one you want to talk to. He knows everything.

As far as the transfers you have to set it up from a outside account. You can do this before any statement cuts, you can also make payments before your statement cuts what you want to do is log into your online account. At the top you will see a "transfer" tab. Click on that. At the bottom of that screen you will see "External Accounts" click on that and it will walk you through linking your external bank account. Of course you put in your routing and account number. After that it's not instant you will have to confirm the external account and that happens by NFCU sending you a email or text with a confirmation code. For me it took about 24 hours to get that code, others got it within a couple hours. Once you get they code you log back in, go back to transfers and external accounts and click on "confirm" and put your code in. Once that is done you are ready to go and that account will now show in the drop down menu of transfers. hope that helps! If u still have trouble let me know.

Creditaddict · ‎12-15-2014

@Anonymous wrote:
CreditAddict- okay thanks so much!! Wow I didn't know you could do that with you CC and checking. Is that counted as a cash advance and I know there is a lot of debate with cash advances and banks so I never ask for a pin for any of my cards but is NFCU okay with cash advances of do they frown on them like other banks do? Thanks so much again for the info.

USF813- thanks for your help. Wow 5 days for a cash deposit. is a cash deposit instant at a NFCU ATM? Also what Non-NFCU ATMs take cash deposits for NFCU? I have looked everywhere and when I check my area online it says ATMs at Royal Farms take them (states CASH DEP next to the royal farms ATMs on NFCU's website) but I went to check and there was no option for a cash deposit or actually any deposit at all.

Yes it is considered a Cash Advance and NORMALLY I would say you never want to do it but with Navy they are just 1% higher than your standard purchase APR!

Anonymous · ‎12-15-2014

Yea I seen that. It was no CA fee and for me I believe it said it was 2% higher. i just didn't know if NFCU looks down on CAs like other banks do. There terms are a lot better then my other credit cards that's for sure. I also remember someone mentioning convience. checks and how you get them in the mail before before you get your CC I haven't gotten any at all. Not sure if I would ever need or use them but I guess just having one would be good as a "just in case". Do they send them to everyone.