topic How to deposit $$ into Navy Federal Savings without having to call? in Personal Finance

How to deposit $$ into Navy Federal Savings without having to call?

Anonymous — Mon, 25 Mar 2019 12:17:35 GMT

Please excuse this question if it seems dumb but how do I deposit money into my NFCU savings account from an outside bank without having to call them all the time?
Is there a way to set this up electronically?

Thanks for your help!

Re: How to deposit $$ into Navy Federal Savings without having to call?

Anonymous — Mon, 25 Mar 2019 12:26:22 GMT

@Anonymous wrote:
Please excuse this question if it seems dumb but how do I deposit money into my NFCU savings account from an outside bank without having to call them all the time?
Is there a way to set this up electronically?

Thanks for your help!

Its quite simple from a desktop computer.

1. Log in to your NFCU account and click on Transfers > View & Add Accounts > Add External Account

2. A popup box will appear where you will enter your name, the external account number, the external bank's routing number and your email address.

3. Once you complete the pop up box, NFCU will send you an email with a confirmation number. Go back to Add External Account and enter the confirmation number and you'll be all set to make ACH transfers into your Navy account.

Re: How to deposit $$ into Navy Federal Savings without having to call?

Duke_Nukem — Mon, 25 Mar 2019 14:42:11 GMT

I'm struggling with this as well after joining NFCU recently.

I actually added an external account to NFCU a week or two ago, but it doesn't allow me to pull money from that external account and deposit into my NFCU account.

NFCU online transfer allows the external account to be addeded as the "FROM" account, but it won't allow me to add the NFCU savings or checking account as the "TO" account.

The online transfer screen does allow me to add the external account as the "TO" account.

And the mobile/e-deposit check funtion won't be functional for 30 days, per NFCU.

Unfortunately for me, the local bank I have used for 30+ years doesn't seem to have an online transfer option for any external accounts.

I'm stuck in a hard place until my direct deposit kicks in later.

Re: How to deposit $$ into Navy Federal Savings without having to call?

thornback — Mon, 25 Mar 2019 14:55:03 GMT

My experience also. My external account has been added to my NFCU account since early January but I'm unable to use it as a 'transfer from' account into my NFCU Checking / Savings. I can only transfer from my external account to make a payment...

So to get around that I set up Zelle through NFCU using a different email address than the Zelle I have set up with my external bank account. I have been able to successfully transfer funds that way (and, of course, it's faster).

I've been meaning to call NFCU about this but haven't gotten around to it... I initially thought it may be a new account restriction or something but it's been 90 days since account opening and I still cannot transfer from external to NFCU.

Note: if your regular bank doesn't partner with Zelle, you can still do this. Just download the Zelle app and create an account with a primary email and link your debit card. Then, in the NFCU portal, set up Zelle and add a different email address for Zelle. Then, using the Zelle app, transfer from your primary email to the email linked with NFCU. Transfers are instant.

@Duke_Nukem wrote:
I'm struggling with this as well after joining NFCU recently.

I actually added an external account to NFCU a week or two ago, but it doesn't allow me to pull money from that external account and deposit into my NFCU account.
NFCU online transfer allows the external account to be addeded as the "FROM" account, but it won't allow me to add the NFCU savings or checking account as the "TO" account.
The online transfer screen does allow me to add the external account as the "TO" account.

And the mobile/e-deposit check funtion won't be functional for 30 days, per NFCU.

Unfortunately for me, the local bank I have used for 30+ years doesn't seem to have an online transfer option for any external accounts.
I'm stuck in a hard place until my direct deposit kicks in later.

Re: How to deposit $$ into Navy Federal Savings without having to call?

Anonymous — Mon, 25 Mar 2019 14:55:04 GMT

Yeah this is an annoyance with NFCU - you have to deposit checks or use Zelle to get funds in there (you can use Zelle with a bank that doesn’t support it with the app and your bank’s debit card but it’s limited to like $500 a week I think). DCU lets me pull directly from my external checking but they don’t support Zelle so I have the Zelle app linked to my DCU debit card and I send myself money from my 1stBank account to DCU via Zelle.

Since we use Zelle to pay our rent, I can’t have a $500 limit so I am forced to stay with my current bank and use DCU as a secondary but I am not sure why I keep the NFCU account. NFCU’s site and app go down too much for me to make them my main financial institution (1stBank is hardly ever out and when they are doing maintenance, it’s not during business hours unlike NFCU which will take everything down in the afternoon) and the only time I’ve had a Zelle transfer get held and processed in days instead of seconds was NFCU as the sender.

I love NFCU but their banking leaves me feeling disappointed. I would switch everything to DCU if they offered Zelle.

Re: How to deposit $$ into Navy Federal Savings without having to call?

thornback — Mon, 25 Mar 2019 14:56:54 GMT

@Anonymous wrote:
Yeah this is an annoyance with NFCU - you have to deposit checks or use Zelle to get funds in there

Oh -- so this is not some sort of new account restriction? This is just the way NFCU operates?

Re: How to deposit $$ into Navy Federal Savings without having to call?

Anonymous — Mon, 25 Mar 2019 15:15:02 GMT

Yes, unfortunately this is the way they operate. I'm sure why as other banks/CUs are able to do this. I think this is the biggest drawback with NFCU, otherwise I think they're great for banking.

Re: How to deposit $$ into Navy Federal Savings without having to call?

Duke_Nukem — Mon, 25 Mar 2019 16:13:06 GMT

I was able to deposit some money from another online savings account into NFCU.

Basically, I had to setup NFCU as the external account on my existing online savings account and send $ from it to NFCU.

Works like a charm, but it seems like NFCU doesn't want to let money leave them as easily!

Re: How to deposit $$ into Navy Federal Savings without having to call?

Anonymous — Mon, 25 Mar 2019 17:21:30 GMT

@thornback wrote:
@Anonymous wrote:
Yeah this is an annoyance with NFCU - you have to deposit checks or use Zelle to get funds in there
Oh -- so this is not some sort of new account restriction? This is just the way NFCU operates?

No this is business as usual with NFCU. You can only pull from an external account to pay a credit product.

That said, there are legitimate security reasons to not allow this and my current bank doesn’t allow it either and both NFCU and my bank participate in Zelle so I have options but it’s an inconvenience compared to my DCU account where I can directly pull from either 1stBank or NFCU and put it in my DCU checking.

Re: How to deposit $$ into Navy Federal Savings without having to call?

Anonymous — Mon, 25 Mar 2019 19:19:02 GMT

Well that's a PITA... I guess I will just only deposit when I have the full daily limit of $250 at a time then... that bites lol

Re: How to deposit $$ into Navy Federal Savings without having to call?

tcbofade — Tue, 26 Mar 2019 01:32:53 GMT

You could always just walk into a branch and make a deposit....

Re: How to deposit $$ into Navy Federal Savings without having to call?

Anonymous — Tue, 26 Mar 2019 12:14:00 GMT

@tcbofade If that was an option, I certainly would. There are no branches around me (nearest is 2.5 hours away). That's a heck of a long roadtrip to deposit money lol

Re: How to deposit $$ into Navy Federal Savings without having to call?

SouthJamaica — Tue, 26 Mar 2019 12:17:12 GMT

@Anonymous wrote:
Well that's a PITA... I guess I will just only deposit when I have the full daily limit of $250 at a time then... that bites lol

The ways to make a deposit into an NFCU deposit account online are (a) push a transfer from another account or (b) check deposit with a mobile app.

Re: How to deposit $$ into Navy Federal Savings without having to call?

Anonymous — Tue, 26 Mar 2019 15:30:03 GMT

@Duke_Nukem wrote:
I was able to deposit some money from another online savings account into NFCU.
Basically, I had to setup NFCU as the external account on my existing online savings account and send $ from it to NFCU.
Works like a charm, but it seems like NFCU doesn't want to let money leave them as easily!

Note what Duke says above. This is also what SouthJ is refering to when he refers to "pushing" money from another account.

Question for Duke and SouthJ:

Suppose you have another bank besides Navy, which I'll call bank X. You add your Navy account to Bank X (as per Duke and SouthJ's advice). It's clear from what they say that you can then push funds from Bank X to Navy. But can you also use Bank X to pull funds from Navy?

I have a Discover checking and savings and also a checking with my local brick-and-mortar CU (not Navy). I added my local CU as an external account to Discover a couple years ago and I have both pushed and pulled money using Discover. (I.e. I have used Discover to pull money from my local CU.)

Re: How to deposit $$ into Navy Federal Savings without having to call?

Duke_Nukem — Tue, 26 Mar 2019 15:46:31 GMT

@Anonymous wrote:
@Duke_Nukem wrote:
I was able to deposit some money from another online savings account into NFCU.
Basically, I had to setup NFCU as the external account on my existing online savings account and send $ from it to NFCU.
Works like a charm, but it seems like NFCU doesn't want to let money leave them as easily!
Suppose you have another bank besides Navy, which I'll call bank X. You add your Navy account to Bank X (as per Duke and SouthJ's advice). It's clear from what they say that you can then push funds from Bank X to Navy. But can you also use Bank X to pull funds from Navy?

I suppose it depends on the particular bank and how they work. The online bank that I setup to push $ to NFCU also allows me to pull from NFCU (through the online bank's website).

Re: How to deposit $$ into Navy Federal Savings without having to call?

LittleSal — Tue, 26 Mar 2019 17:47:38 GMT

@thornback

Great call with Zelle. Just set it up and worked like a champ!

Re: How to deposit $$ into Navy Federal Savings without having to call?

tcbofade — Tue, 26 Mar 2019 17:50:37 GMT

@SouthJamaica wrote:
@Anonymous wrote:
Well that's a PITA... I guess I will just only deposit when I have the full daily limit of $250 at a time then... that bites lol
The ways to make a deposit into an NFCU deposit account online are (a) push a transfer from another account or (b) check deposit with a mobile app.

That's an awesome idea... I didn't think of that.

Re: How to deposit $$ into Navy Federal Savings without having to call?

tcbofade — Tue, 26 Mar 2019 17:51:18 GMT

@Anonymous wrote:
@tcbofade If that was an option, I certainly would. There are no branches around me (nearest is 2.5 hours away). That's a heck of a long roadtrip to deposit money lol

Ah. I'm spoiled. I've got a branch 12 miles north of me.

Re: How to deposit $$ into Navy Federal Savings without having to call?

Anonymous — Tue, 26 Mar 2019 20:20:31 GMT

In reference to the check deposit....would I just write myself a check and then take a picture?

Re: How to deposit $$ into Navy Federal Savings without having to call?

Guyatthebeach — Tue, 26 Mar 2019 21:20:13 GMT

Kathyups,

What I do is I use the ACH feature from my other credit union to transfer money into my NFCU checking. It took anyway from 2 to 3 days to appear in NFCU checking account. I would use the bulk of it to pay my credit card and then the rest would be split between my savings and CD accounts.

You can also try using the mobile app to deposit funds into your savings account.

Hope this helps.

Guyatthebeach