Anyone use PenFed Checking?

[Anonymous]

Has anyone used their service?

What has been your experience or benefits/drawbacks?

I'm thinking of switching from BOA
especially since I think I will use PenFed
quite a bit coming up.

This versus the Chase 200 CB for opening 
a checking account w. them but ppl on here
said they don't suggest using Chase for checking.

[ojefferyo]

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@Anonymous wrote:

Has anyone used their service?

What has been your experience or benefits/drawbacks?

I'm thinking of switching from BOA
especially since I think I will use PenFed
quite a bit coming up.

This versus the Chase 200 CB for opening 
a checking account w. them but ppl on here
said they don't suggest using Chase for checking.

---

I have Penfed checking, I don't have any complaints yet. Keep in mind that they hold deposits for 7 day for the first 6 months if you are new to them.

[Anonymous]

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@ojefferyo wrote:

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@Anonymous wrote:

Has anyone used their service?

What has been your experience or benefits/drawbacks?

I'm thinking of switching from BOA
especially since I think I will use PenFed
quite a bit coming up.

This versus the Chase 200 CB for opening 
a checking account w. them but ppl on here
said they don't suggest using Chase for checking.

---

I have Penfed checking, I don't have any complaints yet. Keep in mind that they hold deposits for 7 day for the first 6 months if you are new to them.

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So may payroll deposit isn't avail for about a week? 

[ojefferyo]

Anything that is ACH will be held for 7 days is what I was told when I called about my deposit. He said that even mobile deposit will be held. 

[longtime_lurker]

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@ojefferyo wrote:

Anything that is ACH will be held for 7 days is what I was told when I called about my deposit. He said that even mobile deposit will be held. 

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Mobile deposit I understand. But DD, really? That's enough for me not to be interested in that CU. I get my payroll EARLY through Charles Schwab. 

[ojefferyo]

I would call and double check, maybe someone will tell you otherwise.

[Anonymous]

if its 6mo I will just wait to open checking then.

I will call tomorrow and report back to confirm.

[ojefferyo]

Any word what they said?

[Anonymous]

He said direct deposits and money orders are NOT held
but is Joe Schmo writes a check to you for 10k... that IS held..
its a fraud/security measure.. and I sorta do understand it.

There is so much of that crap going on.

[ojefferyo]

Just want give an update, I did a mobile deposit from my BoA account on the 6th and today it has already cleared so the whole 7 days thing doesn't hole true. However the initial ACH transfer from my BoA account did take 7 days.