Anyone have a NFCU checking and use direct deposit?

[llecs]

Anyone out there use direct deposit with their NFCU checking? I tried it for the first time today to get the $50 credit they were promoting. Our payday is on the 15th and 1st, and this morning it said "Pending Direct Deposit" and showed my net amount. However, it never showed it as an available deposit. Then this afternoon, that direct deposit mention disappeared all togther and there's no deposit showing anywhere. Is this normal? I am the employer and clearly saw everyone's direct deposit amount disappear out of our checking this morning after receiving our Paychex payroll report.

[IOBA]

Do you want the perspective from the business (like you are) or from the other end (the employee being paid)?

[Anonymous]

I have my pay direct deposited into three accounts. The following is what I have observed over the past year of my current DD setup as well as time of availability of funds.

If the DD is set to hit on a Wednesday:

- Navy FCU: at 12am EST Thursday (9pm PST Wed, 12 am EST Thu)

- E-Trade Bank: 6 am Wednesday morning based on depositor's location (i.e. a New Yorker gets DD at 6am EST while someone else in Seattle waits another 3 hours for it)

- US Bank: 5am EST Wednesday morning (2am PST, 5am EST)

[llecs]

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@IOBA wrote:

Do you want the perspective from the business (like you are) or from the other end (the employee being paid)?

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On the employee standpoint...made the employer mention to validate that a DD was made.

[llecs]

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@Anonymous wrote:

- Navy FCU: at 12am EST Thursday (9pm PST Wed, 12 am EST Thu)

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Interesting...I wonder why it showed, then removed, the pending DD mention.

ETA...guess I might find out in 3 hrs.

[Anonymous]

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@llecs wrote:

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@Anonymous wrote:

- Navy FCU: at 12am EST Thursday (9pm PST Wed, 12 am EST Thu)

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Interesting...I wonder why it showed, then removed, the pending DD mention.

ETA...guess I might find out in 3 hrs.

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This is usually what happens on that account (all times PST):

6am Wed: notice of DD shows in accounts view

4-6pm Wed: notice of DD is removed, money is not deposited yet

11pm Wed: DD is credited to account.

Exception: members who are on Active Duty in the military get theirs immediately (no waiting until midnight EST).

Any memeber can call any time during the day the deposit goes through to verify the funds are coming through.

One thing that I discovered on my own is that if I call customer service on or after 4pm PST on the day of the deposit, I can ask the CSR to see if they can push the DD into my account early.  So far, I am 2 for 2 on this, but it was rare that I had to ask.

[llecs]

Well I checked just after midnight EST and the deposit appeared. I had questioned my sanity there for a moment. Thanks for the input... BTW, I noticed that any checks that clear, they'll clear in the evening? I've had this checking for 10 months now and this was the first time noticing that.

[Anonymous]

One of the things I really love about NFCU is that they will credit the deposit and then make any pending debits that are to be made. This prevents any overdraft situations and charges that may have occurred in the event that the debits came first.

Note: I do keep a margin of safety in my checking account and I do have the overdraft line to draw on just in case, so in my situation there would be no chance of any actual overdraft (Unless it was more than 15K). But there were times in my life with other institutions if they had handled it this way I could have saved some fees.