Credit Cards Center Credit cards from our partners
Reply
New Visitor
Posts: 2
Registered: ‎01-02-2017
0

NFCU direct deposit simulate through ACH transfer

I already have ACH inbound transfer for $500 from an external bank but NFCU is not assuming as direct deposit. Anyone successful doing this without direct depositing from payroll?

 

Thanks

Moderator
Posts: 7,681
Registered: ‎06-20-2015
0

Re: NFCU direct deposit simulate through ACH transfer


susisurya wrote:

I already have ACH inbound transfer for $500 from an external bank but NFCU is not assuming as direct deposit. Anyone successful doing this without direct depositing from payroll?

 

Thanks


Welcome to myFICO!  welcome.gif

 

I can't speak about NFCU specifically, however I use the same 'trick' successfully to get my monthly fee waived with Wells Fargo.

 

It only works if I do an ACH 'push' from an external account, though... if I initiate the transaction will Wells it doesn't 'count'. 

 

Are you initiating your transfer with your external bank?

Valued Member
Posts: 42
Registered: ‎12-14-2016
0

Re: NFCU direct deposit simulate through ACH transfer

It most likely is an ACH push from an ext account to NFCU.

I recently opened NFCU. Their ACH is really restrictive. They dont do ACH pulls. Only ACH push - that too only from checking, not from savings.

 

I wonder why a lot of big banks don't do ACH pulls. I mainly bank with Ally and they support both push and pull.

1/1/2017
TU: 759 EQ: 760 EX: 748 Active Accounts: 8
2/28/2017
TU: 778 EQ: 794 EX: 764 Active Accounts: 9
Goal
TU, EQ, EX: 800+ Active Accounts: 5
Senior Contributor
Posts: 5,963
Registered: ‎08-04-2014

Re: NFCU direct deposit simulate through ACH transfer


susisurya wrote:

I already have ACH inbound transfer for $500 from an external bank but NFCU is not assuming as direct deposit. Anyone successful doing this without direct depositing from payroll?

 

Thanks


Welcome to myFICO!Smiley Happy Please keep us updated on the outcome.

Gardening since xx/xx/xx Gardenversary xx/xx/xx Score: 05/04/17 EQ 781 TU 776 EXP 792
Current Score: 776
Goal Score: 800
Take the myFICO Fitness Challenge
Regular Contributor
Posts: 138
Registered: ‎10-03-2016

Re: NFCU direct deposit simulate through ACH transfer

How would we know if NFCU sees a regular ACH transfer pushed to it as a direct deposit or not? I've been pushing funds from my Chase account into NFCU and it just says ACH credit. My direct deposit finally hit last Friday and it says the same thing as the funds I pushed into it. Both were ACH credit.
Senior Contributor
Posts: 5,963
Registered: ‎08-04-2014

Re: NFCU direct deposit simulate through ACH transfer


cr3dit0r wrote:
How would we know if NFCU sees a regular ACH transfer pushed to it as a direct deposit or not? I've been pushing funds from my Chase account into NFCU and it just says ACH credit. My direct deposit finally hit last Friday and it says the same thing as the funds I pushed into it. Both were ACH credit.

Idk but thanks for your post. I was curious about this myself. Hopefully others will chime in with more information.

Gardening since xx/xx/xx Gardenversary xx/xx/xx Score: 05/04/17 EQ 781 TU 776 EXP 792
Current Score: 776
Goal Score: 800
Take the myFICO Fitness Challenge
Valued Contributor
Posts: 3,003
Registered: ‎08-13-2009

Re: NFCU direct deposit simulate through ACH transfer

When I asked NFCU that question, the answer was researched by NFCU, and I was told no, a transfer from an external bank (ACH) would not count.  (It does work with many banks, including Penfed.)

 

Here's how NFCU can tell the difference.  With direct deposit, they usually receive it a day or two prior.  They know it's coming.  And they let me - the account holder - know that a direct deposit is coming in for xxx.xx amount days before it arrives.  

 

It doesn't with a recurring bank transfer (from another bank).  And I have it set up to do the same - same amount, same timed delivery as the direct deposit.

 

I don't have a regular paycheck, but DH does.  Since our accounts are linked, his direct deposit counts as mine too, even though the deposit does not go into any joint account .  It goes into his personal checking and savings.

Senior Contributor
Posts: 5,963
Registered: ‎08-04-2014
0

Re: NFCU direct deposit simulate through ACH transfer

Is there any new information OP?

Gardening since xx/xx/xx Gardenversary xx/xx/xx Score: 05/04/17 EQ 781 TU 776 EXP 792
Current Score: 776
Goal Score: 800
Take the myFICO Fitness Challenge
New Visitor
Posts: 2
Registered: ‎01-02-2017
0

Re: NFCU direct deposit simulate through ACH transfer

I have other banks that consider ACH deposits as DD. I am going to try ACH transfer from a different bank. If that doesn't work my 3% $3000 CD will become invalid Smiley Embarassed

Senior Contributor
Posts: 5,963
Registered: ‎08-04-2014

Re: NFCU direct deposit simulate through ACH transfer


susisurya wrote:

I have other banks that consider ACH deposits as DD. I am going to try ACH transfer from a different bank. If that doesn't work my 3% $3000 CD will become invalid Smiley Embarassed


Thanks for the update. Based on their website, that particular product does require DD. I would ask for advice in this thread. http://ficoforums.myfico.com/t5/Credit-Card-Applications/Official-Credit-Unions-Guide/m-p/4768788#M1...

 

I hope this information helps & provides a solution.Smiley Happy

Gardening since xx/xx/xx Gardenversary xx/xx/xx Score: 05/04/17 EQ 781 TU 776 EXP 792
Current Score: 776
Goal Score: 800
Take the myFICO Fitness Challenge

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.