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DCU external account

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Senior Contributor

Re: DCU external account


@Jnbmom wrote:

@DaveInAZ 

 

Funny you should mentioned that, I didn't even think of that or realize that they hadn't made 2 small deposits, I guess because I directly logged on to my bank and linked the account I didn't think about the trial deposits and ZERO mentioned from them regarding that  even today when I spoke with them??

 

I normally manually add my external account numbers but since I could just sign in and link, I thought that was it? Now they claim my account is not linked, but I am having serious doubts. I will wait to call off as if I talk with them one more time today I am going to explode.


I couldn't remember if DCU offered that log in to your external account to instantly verify, if it did that and gave you a "Success!" message it won't do the 2 trial deposits,  the external account should have been good to go. I tried that log in to instantly verify an external a couple times and it only worked about half the time, I'm thinking the external account has to have the right  . . . "structure" for the originating bank to get the account #, and alot of my online accounts don't have the full account number. And I don't like the idea of giving out my login info, even though I do change the password afterwards. So now I only do the the 2 trial ACH deposits, you know for sure the external account is correct when you see & verify the deposits. And DCU is a pain with transfers to/from external accounts - for one it's hard to find: "Cash Edge"??? really?, you couldn't just call it "External Transfers" like everyone else? It's slow and a $10 fee for a pull if you want it next day. So my partial payroll DD covers things and I never use their bank 2 bank transfer.

 

On the other hand the one thing Penfed does really well is external transfers Instant credit on the Penfed side even though it usually takes 3 biz days for the debit to hit your external account. And a daily limit of $5k after 6 months, after 2+ years my daily limit is $50k. But I don't do their checking, don't care for the $500 balance or DD to avoid a fee, a share and Premium Savings accounts are enough for me. They did approve me for a PCR when I first joined in May 2007, but with low $1K CL, and I did have checking to make it a 2% card. But after I got the PayPal 2% MC w/%7k SL in July 2017 I closed PCR, after hitting the $100 SUB of course, and after approval for my HELOC in Aug. 2017 I closed checking.  


Fico 08: 734/716/734 TU/EX/EQ
Message 21 of 27
Established Contributor

Re: DCU external account


@DaveInAZ wrote:

@Jnbmom wrote:

@DaveInAZ 

 

Funny you should mentioned that, I didn't even think of that or realize that they hadn't made 2 small deposits, I guess because I directly logged on to my bank and linked the account I didn't think about the trial deposits and ZERO mentioned from them regarding that  even today when I spoke with them??

 

I normally manually add my external account numbers but since I could just sign in and link, I thought that was it? Now they claim my account is not linked, but I am having serious doubts. I will wait to call off as if I talk with them one more time today I am going to explode.


I couldn't remember if DCU offered that log in to your external account to instantly verify, if it did that and gave you a "Success!" message it won't do the 2 trial deposits,  the external account should have been good to go. I tried that log in to instantly verify an external a couple times and it only worked about half the time, I'm thinking the external account has to have the right  . . . "structure" for the originating bank to get the account #, and alot of my online accounts don't have the full account number. And I don't like the idea of giving out my login info, even though I do change the password afterwards. So now I only do the the 2 trial ACH deposits, you know for sure the external account is correct when you see & verify the deposits. And DCU is a pain with transfers to/from external accounts - for one it's hard to find: "Cash Edge"??? really?, you couldn't just call it "External Transfers" like everyone else? It's slow and a $10 fee for a pull if you want it next day. So my partial payroll DD covers things and I never use their bank 2 bank transfer.


Ugh, don't even get me started! I have not had many issues with DCU (I'm using them as my main bank, have an Auto Loan, and CC with them), however this really does annoy me. I couldn't figure out how to pay anything from an external account, so I've just been doing pulls from the other banks instead. I haven't tried Cash Edget yet (I only recently found out about this).

 

Oh, and can anyone tell what DCU "updated" last month? I still can't tell the difference after they unveiled their updated website. It looks and works the same to me.



November 2019:

Stats:
Message 22 of 27
Frequent Contributor

Re: DCU external account

Is PenFed as bad as this thread is making DCU sound?

Gardening Until April 2020
Message 23 of 27
Established Contributor

Re: DCU external account


@VanderSnoot wrote:

Is PenFed as bad as this thread is making DCU sound?


To be fair, I do still really like DCU. They just have a lot of silly idiosyncracies that I can do without.



November 2019:

Stats:
Message 24 of 27
Senior Contributor

Re: DCU external account


@VanderSnoot wrote:

Is PenFed as bad as this thread is making DCU sound?


Well, the absolute worst thing about Penfed is the limitations they place on you the first 6 months of membership. $50 per day limitations on all transfers to or from Penfed & external accounts, and delays in crediting payments, as I recall even paying a Penfed CC from a Penfed bank account is held for 5 days. So if you join Penfed just use it as little as possible for 6 months. After your 6 months of torment you get $5000/day limits on external transfers and instant credit for funds pulled in from external accounts. So I can kinda see why the do the 6 months limits on new members - that's a scammers dream come true, transfer in $5k multiple times and then move those fund out before Penfed gets the NSF decline on the transfers in. But then it is a HP on EQ to join, which should weed out many scammers. And get a more modern computer system.

 

Other annoyances is for their checking account you need $500 average daily balance or $500 in direct deposits per statement period to avoid a fee, I think it's $5/mo. Their Premium Savings isn't bad at 1.7% interest, but it's a 5 day hold on all deposit, even transfers from another Penfed account. And if you look at the CC Applications & Approvals forums here you'll see Penfed loves to say No, for a number of reasons, I've even seen declines accusing people of being "Egyptian", "Pyramiding Debt" for too many new accounts. I think Penfed is best for secured loans - car loans and Home Equity. I bank with them for my HELOC and just keep Pemium Savings and the required Share savings.

 

And DCU isn't that bad, its just that external transfer is not their strong suit. I joined in Oct. 2017 when they gave me 66 months at 2.99% for a 2016 Mazda, half a percent better than my local CU and Penfed - Penfed charges a higher rate for even a 1 year old used car where DCU gives the same rate as a new car.


Fico 08: 734/716/734 TU/EX/EQ
Message 25 of 27
Frequent Contributor

Re: DCU external account

Thanks, Dave. I'm interested in them for home and auto loans as a potential rival to NFCU and am willing to spend the time to build the relationship. Good to know it's a slow ramp up.

Gardening Until April 2020
Message 26 of 27
Community Leader
Senior Contributor

Re: DCU external account

Well the payment was taken out of my external account so I know it is correct,  hasn't posted on my dcu account yet, not sure why , but happy it is correct.

EXP 760 TU 781 EQ 733
Message 27 of 27
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