How to deposit to NFCU?

[Anonymous]

I feel like an idiot but I can't figure out how to make a deposit into a NFCU saving's account. I added my checking account as an external account thinking I could transfer from that to NFCU. It let me add the account but I can't do anything with it.  I don't live near any ATMS to make a deposit. I have checking accounts but do not have actual paper checks I can scan to  make an E-deposit.

What am I missing? Can I go into my non-NFCU checking account and just have online banking send them a check?

[Anonymous]

Do you have Zelle at your current bank? Zelle is the easiest way to move money. If your bank doesn’t support it, you can get the Zelle app and use that for up to $400 a week. Limits for banks that are Zelle-supported vary. Mine lets me send up to $1500 a day, $5000 a week, $10000 a month. 

Both of these options require a NFCU checking and the app requires the NFCU debit card. 

Otherwise, you can initiate a transfer from your current bank to NFCU but most will charge for this service. 

[Duke_Nukem]

Many of us have experienced the fun of making deposits to NFCU, in fact a thread was going around a little while ago about it.  I'll link that thread to provide more detailed info for you.

In summary (I hope I get this correct!):

• You can use Zelle to deposit from other accounts
• You can setup NFCU as an external on your other accounts (if available, not every bank allows this) to PUSH money to NFCU
• Mobile or e-deposits (scan or take pics of checks), but this isn't available until 30 days after opening an account
• maybe others but I've lost track!  LOL

Here is the link to the other thread:

https://ficoforums.myfico.com/t5/Personal-Finance/How-to-deposit-into-Navy-Federal-Savings-without-h...

[Anonymous]

Thanks, glad it's not just me. Lol.

I opened an NFCU savings account instead of a checking account. Is that the main problem?

[Anonymous]

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@Anonymous wrote:

Thanks, glad it's not just me. Lol.

I opened an NFCU savings account instead of a checking account. Is that the main problem?

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No, you still can’t draw from an external account to a deposit account at NFCU although you can’t use Zelle as an option unless you have a checking account. 

I will admit that this little hurdle is one thing that’s frustrating about NFCU compared to, say, DCU that will let you directly pull from an external account to put money in a deposit account, not just pay credit. 

[Duke_Nukem]

I didn't check to see if the savings account is treated differently than the checking when I experimented with the push/pull from a different bank's savings account.  That bank account had no problem with push/pull to/from the NFCU checking, but the NFCU savings may be a different story.

I originally only planned on opening a NFCU savings to just get my foot in the door, but opted to open the checking at the same time.  The checking does get some interest applied, but not much.  I've only had money in there a couple of weeks and already get a dividend deposit from NFCU into my checking!

Another way to make a deposit is of course to use direct deposit.  The direct deposit procedure on NFCU seems time-consuming.  I setup direct deposit from my payroll account much easier.

[Anonymous]

At many external banks or CUs, you can add NFCU to that external bank and then use that bank to both push money into NFCU and pull money out of it.  I.e. not push only but both push and pull.

The solution may be as simple as this.  Suppose Bob has savings/checking accounts at four banks or CUs.  Then he joins Navy.  All he needs to do is go into each one of his external banks and add Navy.  Most of them will enable both push and pull, but all of them should enable push.

Although my name is not Bob, it just occurred to me that this almost exactly my situation.  I just joined Navy and I have three other banks I use significantly.  I'll just add Navy to all of them.

Bear in mind that Navy seems to get stressed out when you are frequently pushing/pulling money into their savings account.  They have no problem if you are using an external bank to push money into or pull money from the NFCU checking.  Internal transfers from checking to savings are no problem of course, though there is still the govt mandated rule of no more than six withdrawls monthly from a savings account.

[outofcredit]

In my experience, Navy allows me to push funds to my savings account from an external account but I cannot "pull" any funds from the Navy savings account using an external account.  To move funds in and out of the checking account I use Zelle and mobile deposits with no problems. Since the checking account is fee free along with free name only checks, OP may want to consider opening a checking account also.  There is a 30 day waiting period before e-deposits are allowed but Zelle should be available right away.  Funds can then be transferred from checking into saving as needed.

[Anonymous]

While only applicable for deposits into a certificate, I haven't seen anybody mention SpeedPay. They'll draw a check from an outside checking account. This does require a phone call though.

[LittleSal]

Zelle for sure!