DCU transferring funds out

[AndySoCal]

@Rogue46  Based on the transfer limit outbound  response I have scratched DCU as a credit union I would joint. I would scratch them from my list on their savings rate(s) as well which are below par as well.

[Rogue46]

I normally don't do transfers between banks so that's never been an issue. The biggest reason I decided to open a Chase account is they have a branch nearby and if I ever needed my money quickly it makes sense. DCU is about 2 hours away. The one thing I do enjoy with DCU is I can deposit my checks via the mobile app and they are available sometimes within minutes.

[ZackAttack]

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@Rogue46 wrote:

I normally don't do transfers between banks so that's never been an issue. The biggest reason I decided to open a Chase account is they have a branch nearby and if I ever needed my money quickly it makes sense. DCU is about 2 hours away. The one thing I do enjoy with DCU is I can deposit my checks via the mobile app and they are available sometimes within minutes.

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You are aware that DCU is part of the CO-OP Network? DCU has joined all 3 levels within the network:

- CO-OP ATM

- CO-OP Shared Branch

- CO-OP Shared Branch Express

The Shared Branch talks with a teller that deals with depositing/withdrawing money (mostly the basic). You should take a look at DCU's site and only have the CO-OP Shared Branches check. 

https://www.dcu.org/dcu-support-center/branches-atms.html

[iced]

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@iced wrote:

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@Rogue46 wrote:

What I'm doing is I added Chase via an external account linking with routing number etc. I go into the DCU app and click on savings account ---> transfer out and choose the externally linked Chase account.  I'm able to transfer whatever dollar amount between my checking and savings within DCU so that's not a problem.

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I'm going to try to duplicate your situation to see if anything's changed since that big update they did a year ago (which is at least how long it's been since I've moved a sum over $2,500 initiated at DCU). I just linked my Chase account and will move some amount greater than $2,500 in the coming weeks (I'd do a transfer to DCU now and then an immediate one to Chase, but that doesn't look suspicious at all)

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I just attempted to move $3,000 out of DCU this morning, and indeed it got blocked. Those big changes back a year ago just keep getting bigger.

It means now that the only way to initiate a transfer out of DCU is via wire or teller-assisted. Coupled with the loss of one year of statements (which seems to be something they're slowly working toward fixing), and I am left agreeing that DCU does not position itself to be an effective banking hub for someone.

The fact I can pull/push tens of thousands from/to DCU all day every day using an ACH initiated at Chase or Fidelity but I can't do the exact same thing initiated at DCU is a bit mind-boggling.