topic Re: NFCU ACH Problem in Personal Finance

NFCU ACH Problem

brandon1767 — Mon, 12 Nov 2018 13:55:46 GMT

On Thursday I went ahead an initiated an ACH transfer from my local CU to NFCU for $550 so I can do the SSL. The money was taken out of my local CU acct, but it hasn't showed up yet in my savings at NFCU. I gave them a call to check the status and the rep said that they don't allow ACH from external accounts into NFCU savings or checking, and I would have to call my local CU to get my money back.

This is crazy to me, I have never had an issue sending ACH to any of the banks I've been with (Ally, US Bank, local CU, etc). I am going to give it a few days and see if it actually does go through (because I think it will). According to the rep, the ONLY ways to fund my account for the first 30 days, are to mail a check or charge my debit card $250 each day. After 30 days I will be eligable for mobile deposit.

Guess I will have to do the debit card if the ACH doesn't work, but don't like having $500+ just disappear out of my account.

Re: NFCU ACH Problem

Jnbmom — Mon, 12 Nov 2018 14:07:59 GMT

@brandon1767 wrote:
On Thursday I went ahead an initiated an ACH transfer from my local CU to NFCU for $550 so I can do the SSL. The money was taken out of my local CU acct, but it hasn't showed up yet in my savings at NFCU. I gave them a call to check the status and the rep said that they don't allow ACH from external accounts into NFCU savings or checking, and I would have to call my local CU to get my money back.

This is crazy to me, I have never had an issue sending ACH to any of the banks I've been with (Ally, US Bank, local CU, etc). I am going to give it a few days and see if it actually does go through (because I think it will). According to the rep, the ONLY ways to fund my account for the first 30 days, are to mail a check or charge my debit card $250 each day. After 30 days I will be eligable for mobile deposit.

Guess I will have to do the debit card if the ACH doesn't work, but don't like having $500+ just disappear out of my account.

NFCU does not allow external accounts to transfer money to them only from them. There is no getting around this , the rep was correct that is their policy. You will need to contact your CU to get your money back.

That's the only thing I don't like about navy.

Re: NFCU ACH Problem

brandon1767 — Mon, 12 Nov 2018 14:07:42 GMT

@Jnbmom wrote:
@brandon1767 wrote:
On Thursday I went ahead an initiated an ACH transfer from my local CU to NFCU for $550 so I can do the SSL. The money was taken out of my local CU acct, but it hasn't showed up yet in my savings at NFCU. I gave them a call to check the status and the rep said that they don't allow ACH from external accounts into NFCU savings or checking, and I would have to call my local CU to get my money back.

This is crazy to me, I have never had an issue sending ACH to any of the banks I've been with (Ally, US Bank, local CU, etc). I am going to give it a few days and see if it actually does go through (because I think it will). According to the rep, the ONLY ways to fund my account for the first 30 days, are to mail a check or charge my debit card $250 each day. After 30 days I will be eligable for mobile deposit.

Guess I will have to do the debit card if the ACH doesn't work, but don't like having $500+ just disappear out of my account.
NFCU does not allow external accounts to transfer money to them only from them. There is no getting around this , the rep was correct that is their policy. You will need to contact your CU to get your money back.

That's the only thing I don't like about navy.

Just spoke to another rep, and she told me that the rep I first spoke to probably got confused. They DO allow transfers into NFCU originating from another institution. They do not allow you debit transactions from other institutions through them. She said "we wouldn't last very long if we didn't allow incoming ACH transfers". So as long as you originate the ACH transfer from the institution you want to transfer money out of, you should be fine.

Re: NFCU ACH Problem

spiritcraft1 — Mon, 12 Nov 2018 14:07:27 GMT

@brandon1767 wrote:
@Jnbmom wrote:
@brandon1767 wrote:
On Thursday I went ahead an initiated an ACH transfer from my local CU to NFCU for $550 so I can do the SSL. The money was taken out of my local CU acct, but it hasn't showed up yet in my savings at NFCU. I gave them a call to check the status and the rep said that they don't allow ACH from external accounts into NFCU savings or checking, and I would have to call my local CU to get my money back.

This is crazy to me, I have never had an issue sending ACH to any of the banks I've been with (Ally, US Bank, local CU, etc). I am going to give it a few days and see if it actually does go through (because I think it will). According to the rep, the ONLY ways to fund my account for the first 30 days, are to mail a check or charge my debit card $250 each day. After 30 days I will be eligable for mobile deposit.

Guess I will have to do the debit card if the ACH doesn't work, but don't like having $500+ just disappear out of my account.
NFCU does not allow external accounts to transfer money to them only from them. There is no getting around this , the rep was correct that is their policy. You will need to contact your CU to get your money back.

That's the only thing I don't like about navy.
Just spoke to another rep, and she told me that the rep I first spoke to probably got confused. They DO allow transfers into NFCU originating from another institution. They do not allow you debit transactions from other institutions through them. She said "we wouldn't last very long if we didn't allow incoming ACH transfers". So as long as you originate the ACH transfer from the institution you want to transfer money out of, you should be fine.

This is true. I send money to NFCU almost daily, personal and business accounts. The only think you a not do is pull money from an outside institution (unless it is a CC payment etc.) It should show up soon but some ACH's are faster than others depending on the institution. NFCU is very good at sending outside transactions with next day funding. Some CU's take up to 3 days to process even though the money disappears days one.

The best for me though is Elements FCU account which is excellent since thir ACH pushes and pulls funds with next day availability. I wish they all did that.

Re: NFCU ACH Problem

Anonymous — Mon, 12 Nov 2018 14:07:10 GMT

I was able to send money from my Chase account to my NFCU savings like a month back.

Re: NFCU ACH Problem

Fire6546 — Mon, 12 Nov 2018 14:06:51 GMT

I transfer from usaa and capital one to nfcu all the time. But it’s initiated from outside nfcu, if I try to transfer in money from nfcu it shades out my accounts except for cloc and cc to make payments only

Re: NFCU ACH Problem

UncleB — Mon, 12 Nov 2018 14:10:28 GMT

@brandon1767 wrote:
@Jnbmom wrote:
@brandon1767 wrote:
On Thursday I went ahead an initiated an ACH transfer from my local CU to NFCU for $550 so I can do the SSL. The money was taken out of my local CU acct, but it hasn't showed up yet in my savings at NFCU. I gave them a call to check the status and the rep said that they don't allow ACH from external accounts into NFCU savings or checking, and I would have to call my local CU to get my money back.

This is crazy to me, I have never had an issue sending ACH to any of the banks I've been with (Ally, US Bank, local CU, etc). I am going to give it a few days and see if it actually does go through (because I think it will). According to the rep, the ONLY ways to fund my account for the first 30 days, are to mail a check or charge my debit card $250 each day. After 30 days I will be eligable for mobile deposit.

Guess I will have to do the debit card if the ACH doesn't work, but don't like having $500+ just disappear out of my account.
NFCU does not allow external accounts to transfer money to them only from them. There is no getting around this , the rep was correct that is their policy. You will need to contact your CU to get your money back.

That's the only thing I don't like about navy.
Just spoke to another rep, and she told me that the rep I first spoke to probably got confused. They DO allow transfers into NFCU originating from another institution. They do not allow you debit transactions from other institutions through them. She said "we wouldn't last very long if we didn't allow incoming ACH transfers". So as long as you originate the ACH transfer from the institution you want to transfer money out of, you should be fine.

Like some others have already mentioned, I've been doing ACH transfers (push) to NFCU each month for just over three years now and I've never had a problem.

What they don't allow (from what I can tell) is ACH pull from a savings account. While I can send (push) money as often as I want to my share savings, I can't initiate a 'pull' transaction from USAA.

Also, others have reported trying to pay a bill by providing NFCU's routing number along with their savings account number and it didn't end well. Of course with a checking account there shouldn't be a problem with moving money in either direction, since that's the entire point of a checking account.

Re: NFCU ACH Problem

Anonymous — Wed, 14 Nov 2018 23:03:17 GMT

When I opened my NFCU account recently it took a while for me to figure out how to put money in too.

When I set up the online banking I must have skipped a step because my share balance was showing -$5.

My first thought was to pull $ into the account from the Navy side. Doesn't seem to be an option though.

Next I tried to push $ from other debit to the savings. I initiated the trial deposits and then Navy didn't want to send the 50 cents back because it was still in the red. My other bank verified the deposits so I was able to attempt to push more money in.

That transfer was returned.

I was starting to get annoyed so I called in. I was able to add some money with my debit card to make the balance positive but not nearly enough to fund the SSL.

I pointed out the returned ACH and the CSR must have lowered a flag I tripped.

I tried again. Success, after 10 days the money had arrived.

Now I was ready to open my SSL!

Next day I'm talking to CSR and he says I'll need $2K more if I want a 60 month term. FML