NFCU direct deposit simulate through ACH transfer

[Anonymous]

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

[UncleB]

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@Anonymous 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

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Welcome to myFICO! 

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?

[Anonymous]

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.

[Anonymous]

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@Anonymous 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

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

[Anonymous]

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.

[Anonymous]

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@Anonymous 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.

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

[IOBA]

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.

[Anonymous]

Is there any new information OP?

[Anonymous]

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 

[Anonymous]

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@Anonymous 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 

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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#M141097 

I hope this information helps & provides a solution.