topic DcU relationship question in General Credit Topics

DcU relationship question

-NewGuy- — Tue, 23 Sep 2014 15:48:28 GMT

I have a question about the DCU relationship benefits.

For plus benefits you need direct deposit and e-statements, and for relationship level benefits you need those plus a loan of some sort (car, credit card, mortgage, etc). My question is, do you need all three BEFORE getting relationship level benefits? Meaning, if I have direct deposit and e-statements and then apply for an auto loan, will the auto loan get the half point discount? I think I'm doing a poor job explaining this, so please let me know if I'm talking out my hindquarters.

Re: DcU relationship question

Luscher — Tue, 23 Sep 2014 17:48:57 GMT

To get the .5% discount I was told by a csr you need direct deposit and a checking account with DCU

Re: DcU relationship question

Revelate — Wed, 24 Sep 2014 03:05:25 GMT

@Luscher wrote:
To get the .5% discount I was told by a csr you need direct deposit and a checking account with DCU

Yup, if the auto loan kicks you up to a higher tier you get the APR bonus both from what I read and also when I talked to them. I didn't bother when they gave me a sweetheart rate anyway heh, cut my rate by more than 2/3 anyway, wasn't going to jump through hoops in direct deposit land (and annoyingly complicating my financial life as inbound xfers into Chase I think are fee based whereas inbound xfers into DCU are not but outbound are, would've had to two step through USAA, no thanks) .

Re: DcU relationship question

-NewGuy- — Wed, 24 Sep 2014 15:16:53 GMT

@Revelate wrote:
@Luscher wrote:
To get the .5% discount I was told by a csr you need direct deposit and a checking account with DCU
Yup, if the auto loan kicks you up to a higher tier you get the APR bonus both from what I read and also when I talked to them. I didn't bother when they gave me a sweetheart rate anyway heh, cut my rate by more than 2/3 anyway, wasn't going to jump through hoops in direct deposit land (and annoyingly complicating my financial life as inbound xfers into Chase I think are fee based whereas inbound xfers into DCU are not but outbound are, would've had to two step through USAA, no thanks) .

Rev,

When you say "transfers" are you talking about wire transfers? ACH transfers and simply transfering money between banks is not chargable at DCU is it? I chatted with a online person at DCU yesterday, and they said ACH transfers and the like are unlimited and free.

Re: DcU relationship question

Revelate — Wed, 24 Sep 2014 16:06:27 GMT

@-NewGuy- wrote:
@Revelate wrote:
@Luscher wrote:
To get the .5% discount I was told by a csr you need direct deposit and a checking account with DCU
Yup, if the auto loan kicks you up to a higher tier you get the APR bonus both from what I read and also when I talked to them. I didn't bother when they gave me a sweetheart rate anyway heh, cut my rate by more than 2/3 anyway, wasn't going to jump through hoops in direct deposit land (and annoyingly complicating my financial life as inbound xfers into Chase I think are fee based whereas inbound xfers into DCU are not but outbound are, would've had to two step through USAA, no thanks) .
Rev,

When you say "transfers" are you talking about wire transfers? ACH transfers and simply transfering money between banks is not chargable at DCU is it? I chatted with a online person at DCU yesterday, and they said ACH transfers and the like are unlimited and free.

Inbound ACH free, Outbound not.

Current Prices

Institutional Transfers	Standard (3 business days)	Premium (next business day)	Per Day Limit
To DCU	FREE	$10.00	$2,000
From DCU	$5.00	$10.00	$2,000
POPMoney	$2.00	$10.00	$500

Re: DcU relationship question

-NewGuy- — Wed, 24 Sep 2014 16:14:45 GMT

@Revelate wrote:
@-NewGuy- wrote:
@Revelate wrote:
@Luscher wrote:
To get the .5% discount I was told by a csr you need direct deposit and a checking account with DCU
Yup, if the auto loan kicks you up to a higher tier you get the APR bonus both from what I read and also when I talked to them. I didn't bother when they gave me a sweetheart rate anyway heh, cut my rate by more than 2/3 anyway, wasn't going to jump through hoops in direct deposit land (and annoyingly complicating my financial life as inbound xfers into Chase I think are fee based whereas inbound xfers into DCU are not but outbound are, would've had to two step through USAA, no thanks) .
Rev,

When you say "transfers" are you talking about wire transfers? ACH transfers and simply transfering money between banks is not chargable at DCU is it? I chatted with a online person at DCU yesterday, and they said ACH transfers and the like are unlimited and free.
Inbound ACH free, Outbound not.

Current Prices
Institutional Transfers Standard
(3 business days) Premium
(next business day) Per Day Limit
To DCU
FREE $10.00 $2,000
From DCU
$5.00 $10.00 $2,000
POPMoney $2.00 $10.00 $500

Isn't ACH how credit cards are all paid? Does that mean I have to pay 5 bucks every time I pay my credit card unless I use bill pay?

Re: DcU relationship question

-NewGuy- — Wed, 24 Sep 2014 16:42:17 GMT

Just chatted with DCU and this is what they said:

DCU : Hi, welcome to DCU Live Help.
NewGuy: hello
NewGuy: I had requested a checking and savings account set up with my membership, but am reading about some fees
NewGuy: are there fees to use ACH transactions???
DCU: As in payments being withdrawn from your account automatically?
NewGuy: no, lets say I want to transfer funds to a savings account at another bank
NewGuy: Also, when I pay my credit cards via their website the transaction is an ACH transaction
DCU: Paying Credit Cards from their website will not cost you anything because you will be providing the Credit Card company either your account number or your debit card number. Also, DCU offers a billpayer service which is free of charge.
DCU: DCU does not offer direct transfer to other institutions share accounts though. You would need to either do a Cash Edge transfer or a Wire Transfer.
NewGuy: so paying blls using my checking account will not cost anything?
NewGuy: its basically an electronic transfer using my account number
DCU: No. You can use our Billpayer system or provide them with your account number or debit card number. As long as the funds are available you should not encounter any fees
NewGuy: So what is the 5.00 charge for institution to institution transfer? Could you please explain that one, I am confused
NewGuy: and thanks for your help by the way
NewGuy: cash edge I think it was called

DCU: I believe you are speaking about or Cash Edge and POPmoney transfers. That's for depositing funds into a personal account as a cash deposit.
NewGuy: which is different than an ACH transaction?
DCU: DCU doesn't offer a direct transfer options to transfer to another institution as a cash deposit. We are able to pay bills at other institutions but we can't transfer funds into another individuals account as a deposit directly. If you institute this transfer at the other institution we would not charge for the funds to be pulled from your account. But if you would like process it with us you would need to do a Cash Edge transfer or Wire Transfer.
NewGuy: Ahhh, ok. That makes sense. So, if I have a savings account at another bank, and their site has a method to withdraw funds at my DCU account as an ACH electronic transfer, there would be no charge. However, if I go to DCU request, through DCU, to move money from my account to an account at another bank, that's where Cash Edge comes in. Does that sounds right?
NewGuy: Thanks for your help by the way, sorry for the repition, just want to make sure I understand
DCU: That's correct, yes!
DCU: Not a problem

Re: DcU relationship question

14Fiesta — Wed, 24 Sep 2014 20:34:12 GMT

@-NewGuy- wrote:
Just chatted with DCU and this is what they said:

DCU : Hi, welcome to DCU Live Help.
NewGuy: hello
NewGuy: I had requested a checking and savings account set up with my membership, but am reading about some fees
NewGuy: are there fees to use ACH transactions???
DCU: As in payments being withdrawn from your account automatically?
NewGuy: no, lets say I want to transfer funds to a savings account at another bank
NewGuy: Also, when I pay my credit cards via their website the transaction is an ACH transaction
DCU: Paying Credit Cards from their website will not cost you anything because you will be providing the Credit Card company either your account number or your debit card number. Also, DCU offers a billpayer service which is free of charge.
DCU: DCU does not offer direct transfer to other institutions share accounts though. You would need to either do a Cash Edge transfer or a Wire Transfer.
NewGuy: so paying blls using my checking account will not cost anything?
NewGuy: its basically an electronic transfer using my account number
DCU: No. You can use our Billpayer system or provide them with your account number or debit card number. As long as the funds are available you should not encounter any fees
NewGuy: So what is the 5.00 charge for institution to institution transfer? Could you please explain that one, I am confused
NewGuy: and thanks for your help by the way
NewGuy: cash edge I think it was called
DCU: I believe you are speaking about or Cash Edge and POPmoney transfers. That's for depositing funds into a personal account as a cash deposit.
NewGuy: which is different than an ACH transaction?
DCU: DCU doesn't offer a direct transfer options to transfer to another institution as a cash deposit. We are able to pay bills at other institutions but we can't transfer funds into another individuals account as a deposit directly. If you institute this transfer at the other institution we would not charge for the funds to be pulled from your account. But if you would like process it with us you would need to do a Cash Edge transfer or Wire Transfer.
NewGuy: Ahhh, ok. That makes sense. So, if I have a savings account at another bank, and their site has a method to withdraw funds at my DCU account as an ACH electronic transfer, there would be no charge. However, if I go to DCU request, through DCU, to move money from my account to an account at another bank, that's where Cash Edge comes in. Does that sounds right?
NewGuy: Thanks for your help by the way, sorry for the repition, just want to make sure I understand
DCU: That's correct, yes!
DCU: Not a problem

Okay, so what he's saying is, if I went into my savings and requested an inbound transfer, it's free. If I went into checking and tried to push a transfer (not billpay), into savings, it would cost $5.00?

Re: DcU relationship question

-NewGuy- — Wed, 24 Sep 2014 21:40:18 GMT

@14Fiesta wrote:
@-NewGuy- wrote:
Just chatted with DCU and this is what they said:

DCU : Hi, welcome to DCU Live Help.
NewGuy: hello
NewGuy: I had requested a checking and savings account set up with my membership, but am reading about some fees
NewGuy: are there fees to use ACH transactions???
DCU: As in payments being withdrawn from your account automatically?
NewGuy: no, lets say I want to transfer funds to a savings account at another bank
NewGuy: Also, when I pay my credit cards via their website the transaction is an ACH transaction
DCU: Paying Credit Cards from their website will not cost you anything because you will be providing the Credit Card company either your account number or your debit card number. Also, DCU offers a billpayer service which is free of charge.
DCU: DCU does not offer direct transfer to other institutions share accounts though. You would need to either do a Cash Edge transfer or a Wire Transfer.
NewGuy: so paying blls using my checking account will not cost anything?
NewGuy: its basically an electronic transfer using my account number
DCU: No. You can use our Billpayer system or provide them with your account number or debit card number. As long as the funds are available you should not encounter any fees
NewGuy: So what is the 5.00 charge for institution to institution transfer? Could you please explain that one, I am confused
NewGuy: and thanks for your help by the way
NewGuy: cash edge I think it was called
DCU: I believe you are speaking about or Cash Edge and POPmoney transfers. That's for depositing funds into a personal account as a cash deposit.
NewGuy: which is different than an ACH transaction?
DCU: DCU doesn't offer a direct transfer options to transfer to another institution as a cash deposit. We are able to pay bills at other institutions but we can't transfer funds into another individuals account as a deposit directly. If you institute this transfer at the other institution we would not charge for the funds to be pulled from your account. But if you would like process it with us you would need to do a Cash Edge transfer or Wire Transfer.
NewGuy: Ahhh, ok. That makes sense. So, if I have a savings account at another bank, and their site has a method to withdraw funds at my DCU account as an ACH electronic transfer, there would be no charge. However, if I go to DCU request, through DCU, to move money from my account to an account at another bank, that's where Cash Edge comes in. Does that sounds right?
NewGuy: Thanks for your help by the way, sorry for the repition, just want to make sure I understand
DCU: That's correct, yes!
DCU: Not a problem
Okay, so what he's saying is, if I went into my savings and requested an inbound transfer, it's free. If I went into checking and tried to push a transfer (not billpay), into savings, it would cost $5.00?

Only to another bnak. If you try to push money from DCU to another bank you pay. If the other bank or entity requests it using your account number you don't.

Re: DcU relationship question

Revelate — Thu, 25 Sep 2014 05:47:56 GMT

@-NewGuy- wrote:
@14Fiesta wrote:
@-NewGuy- wrote:
Just chatted with DCU and this is what they said:

DCU : Hi, welcome to DCU Live Help.
NewGuy: hello
NewGuy: I had requested a checking and savings account set up with my membership, but am reading about some fees
NewGuy: are there fees to use ACH transactions???
DCU: As in payments being withdrawn from your account automatically?
NewGuy: no, lets say I want to transfer funds to a savings account at another bank
NewGuy: Also, when I pay my credit cards via their website the transaction is an ACH transaction
DCU: Paying Credit Cards from their website will not cost you anything because you will be providing the Credit Card company either your account number or your debit card number. Also, DCU offers a billpayer service which is free of charge.
DCU: DCU does not offer direct transfer to other institutions share accounts though. You would need to either do a Cash Edge transfer or a Wire Transfer.
NewGuy: so paying blls using my checking account will not cost anything?
NewGuy: its basically an electronic transfer using my account number
DCU: No. You can use our Billpayer system or provide them with your account number or debit card number. As long as the funds are available you should not encounter any fees
NewGuy: So what is the 5.00 charge for institution to institution transfer? Could you please explain that one, I am confused
NewGuy: and thanks for your help by the way
NewGuy: cash edge I think it was called
DCU: I believe you are speaking about or Cash Edge and POPmoney transfers. That's for depositing funds into a personal account as a cash deposit.
NewGuy: which is different than an ACH transaction?
DCU: DCU doesn't offer a direct transfer options to transfer to another institution as a cash deposit. We are able to pay bills at other institutions but we can't transfer funds into another individuals account as a deposit directly. If you institute this transfer at the other institution we would not charge for the funds to be pulled from your account. But if you would like process it with us you would need to do a Cash Edge transfer or Wire Transfer.
NewGuy: Ahhh, ok. That makes sense. So, if I have a savings account at another bank, and their site has a method to withdraw funds at my DCU account as an ACH electronic transfer, there would be no charge. However, if I go to DCU request, through DCU, to move money from my account to an account at another bank, that's where Cash Edge comes in. Does that sounds right?
NewGuy: Thanks for your help by the way, sorry for the repition, just want to make sure I understand
DCU: That's correct, yes!
DCU: Not a problem
Okay, so what he's saying is, if I went into my savings and requested an inbound transfer, it's free. If I went into checking and tried to push a transfer (not billpay), into savings, it would cost $5.00?
Only to another bnak. If you try to push money from DCU to another bank you pay. If the other bank or entity requests it using your account number you don't.

Unless they charge for inbound, which sadly many do. Banks are so not consumer friendly on many things.

Which is why a USAA banking relationship is so bloody handy if you have to shuffle money around for whatever reason: no ACH fees inbound or outbound.

Re: DcU relationship question

Anonymous — Fri, 26 Sep 2014 03:20:17 GMT

I keep having to pay $3 through BofA to transfer to USAA. I could have been initiating on the USAA side for no charge?

Re: DcU relationship question

Revelate — Fri, 26 Sep 2014 05:50:03 GMT

@Anonymous wrote:
I keep having to pay $3 through BofA to transfer to USAA. I could have been initiating on the USAA side for no charge?

Yes. It's one of the fantastic things about USAA.