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Penfed payments

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Marcos8
Established Contributor

Penfed payments

I want to add my Chase bank info to the Penfed website so I can pay my credit card bill. I see an option to "Add non Penfed account " as well as "add registered non Penfed account". What's the difference and which do I choose to be able to pay my credit card bill as well as my PLOC bill when due from Chase? Thanks! 

Message 1 of 8
7 REPLIES 7
Anonymous
Not applicable

Re: Penfed payments

Add non PenFed account, like any other bank or CU. Well done!
Message 2 of 8
Marcos8
Established Contributor

Re: Penfed payments


@Anonymous wrote:
Add non PenFed account, like any other bank or CU. Well done!

Thanks! What is a registered non Penfed account? 

Message 3 of 8
Anonymous
Not applicable

Re: Penfed payments

Not sure, I never had that option and they don't mention it here
https://www.penfed.org/transfer-via-ach/
Message 4 of 8
Anonymous
Not applicable

Re: Penfed payments


@Marcos8 wrote:

@Anonymous wrote:
Add non PenFed account, like any other bank or CU. Well done!

Thanks! What is a registered non Penfed account? 


Not sure there is any difference.  The  NFCU account that I have added shows under both 'non PenFed accounts' and 'Registered non PenFed accounts'

Message 5 of 8
Anonymous
Not applicable

Re: Penfed payments

Kinda splitting hairs with what they call them, but the 'registered' accounts will allow you to move money back and forth from PenFed. If they aren't registered it may only let you move money from PenFed but not to
Message 6 of 8
NRB525
Super Contributor

Re: Penfed payments


@Anonymous wrote:
Kinda splitting hairs with what they call them, but the 'registered' accounts will allow you to move money back and forth from PenFed. If they aren't registered it may only let you move money from PenFed but not to

^This

 

Not even splitting hares. Go for the registered link. It will take a few days, as they send small transactions to your other account and you have to verify the amounts to confirm to PenFed it is your owned account outside Penfed. From then on, however, there are more features to enable working with the accounts from the PenFed side.

 

This is actually quite common. I have gone through this linking procedure with several banks so they can move money through electronic transfers, both send and pull. Some even end up with the capability where bank A pulls from bank B to initate a transfer to bank C without the funds actually touching bank A.

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Message 7 of 8
Marcos8
Established Contributor

Re: Penfed payments

So I guess it's best I go for the registered non Penfed account. It may not influence how I pay my PF credit card but maybe moving money back and forth from my PLOC to my Chase checking may benefit from this. Any other thoughts are appreciated. Thanks

Message 8 of 8
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