Interesting info concerning NFCU

[llecs]

Or at least it is interesting to me....

I ran into a situation this weekend where I decided to use cash instead of a debit/credit card. My balances on some of my cards are higher than I want so I've been cash only lately. Anyway I withdrew $600 from my NFCU debit and used all of it for gas/food/hotel/conference ticket for the weekend here in NC. I go back to the ATM to get more cash but was declined. It said I hit my daily limit. I even tried to take from savings via the ATM but that won't work if you hit that limit. All I needed was another $100 for today so I called NFCU.

They said "federal law" prevented them from increasing the daily limit but to circumvent that they said I can have more than one debit card. That way you can take more out in cash if you needed to. On the extra cash they hooked me up with a PIN number for my Visa CashRewards. I think it's a sin to take cash out of a CC but there is plenty in checking and paid it of after withdrawing cash out of the Visa. Anyway if you set up a pin with the CC, they will check LexisNexis. I don't know why they'd check it. The CSR asked my about land my grandfather owned 20 years ago. Thought that was odd; might be worth pulling that report.

This might be old news or no news to some, but thought it was interesting. Oh, NFCU also offered to Western Union money from my Checking. Overkill, but that too was interesting.

[CashOnDelivery]

Thanks for sharing! When I need cash and want to avoid ATM fees, I buy something small and use the cash back option (Example; Walmart is $100 max I think) BTW, what is LexisNexis? I saw 2 SP's from them in the past year.

[guiness56]

I have never heard of that.  I banked with them and needed more than was allowed to be withdrawn.  I called and they changed the limit for one hour so I could go get money out.

USAA does the same thing.

[guiness56]

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@CashOnDelivery wrote:

Thanks for sharing! When I need cash and want to avoid ATM fees, I buy something small and use the cash back option (Example; Walmart is $100 max I think) BTW, what is LexisNexis? I saw 2 SP's from them in the past year.

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Lexis Nexis is a reseller of information from the CRAs but by definition the FCRA also consider them a CRA.  They are the primary company that report judgments to the CRAs.

[CashOnDelivery]

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@guiness56 wrote:

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@CashOnDelivery wrote:

Thanks for sharing! When I need cash and want to avoid ATM fees, I buy something small and use the cash back option (Example; Walmart is $100 max I think) BTW, what is LexisNexis? I saw 2 SP's from them in the past year.

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Lexis Nexis is a reseller of information from the CRAs but by definition the FCRA also consider them a CRA.  They are the primary company that report judgments to the CRAs.

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Thanks on that Interesting info on LexisNexis. I never had any judgements. It could be a coincidence but the date of the SP was near when my auto insurance was renewed.

[guiness56]

Look them up.  They have their hands in everything.

[CashOnDelivery]

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@guiness56 wrote:

Look them up.  They have their hands in everything.

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Ahhh,I see...I was looking at the wrong info...

[aot2009]

I ran into this problem before but if it's during any banks hours you can walk in and also do a teller cash advance for almost any amount.

[flan]

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@llecs wrote:

They said "federal law" prevented them from increasing the daily limit but to circumvent that they said I can have more than one debit card. That way you can take more out in cash if you needed to. On the extra cash they hooked me up with a PIN number for my Visa CashRewards. I think it's a sin to take cash out of a CC but there is plenty in checking and paid it of after withdrawing cash out of the Visa. Anyway if you set up a pin with the CC, they will check LexisNexis. I don't know why they'd check it. The CSR asked my about land my grandfather owned 20 years ago. Thought that was odd; might be worth pulling that report.

This might be old news or no news to some, but thought it was interesting. Oh, NFCU also offered to Western Union money from my Checking. Overkill, but that too was interesting.

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I'm not aware of any federal regulation about the maximum withrdawl limit for an ATM.  I can see the fraud concern about changing it after you hit the day's limit, though.

A number of years ago, I was headed to a car auction, and swung by my bank to get cash.  The retail storefront branch I stopped at didn't have the cash I needed in their drawer (no vault to store lage amounts), but they did raise my atm withdrawl limit so I could get it out of their atms (and called someone who told them how much was in each machine, so I could use the one with enough in it...).