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Established Contributor
Posts: 599
Registered: ‎05-11-2015

NFCU.... Free $5 In the Mail?

I got a letter in the mail from NFCU over the weekend containing a check for $5, but it can ONLY be deposited at NFCU via mobile deposit...  I have no problem depositing money there (I convert all my rewards to deposits directly to my savings there anyway), but often when you get checks like that in the mail, depositing them signs you up for some monthly service.

 

 Yes, I'll give them a call after work today if nobody here knows (hard to do banking calls at work!), but I was just curious if anybody else got a similar mailing, and if its a "legit" $5, or if depositing it will enroll me in some program I have to pay monthly for!  I fell for that once back in my ignorant college days.

My cards:

Amex BCE: $15K | Cap1 Venture: $15K | NFCU CR: $14.3K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | Discover IT: $5.4K | Sportsman's Guide: $5.1K | FNBO NRA: $5K | Legacy Visa: $2.75K | Elan Plat: $2.3K | Cap1 PS: 2K | Cabela's: $1K


Current Scores:  EQ:  718  |  TU:  727  |  EX:  717
Moderator
Posts: 8,804
Registered: ‎06-20-2015

Re: NFCU.... Free $5 In the Mail?


Dalmus wrote:

I got a letter in the mail from NFCU over the weekend containing a check for $5, but it can ONLY be deposited at NFCU via mobile deposit...  I have no problem depositing money there (I convert all my rewards to deposits directly to my savings there anyway), but often when you get checks like that in the mail, depositing them signs you up for some monthly service.

 

 Yes, I'll give them a call after work today if nobody here knows (hard to do banking calls at work!), but I was just curious if anybody else got a similar mailing, and if its a "legit" $5, or if depositing it will enroll me in some program I have to pay monthly for!  I fell for that once back in my ignorant college days.


I got a check from them last summer as well... if your's is the same as the one I got, it's completely legit - free moneySmiley Very Happy

 

It's their way of encouraging a new(ish) member to try mobile deposit; in my case I only have the required savings account (along with a credit card, of course) so I never had a reason to use mobile deposit (I do routine ACH 'push' transactions when I want to stash some money there).  Of course a free $5 was plenty reason to give it a shot, but I admit I've not used it since.

 

It was ironic to me that I had figured the $5 that they make you keep on deposit would be held up in perpetuity in my case; basically I just figured my membership itself cost $5 (since you can't get it back unless you cease to be a member, and I intend to be a member for life).  After cashing their check, I can now say that the membership was actually totally free!  Smiley Very Happy

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