On Thursday I went ahead an initiated an ACH transfer from my local CU to NFCU for $550 so I can do the SSL. The money was taken out of my local CU acct, but it hasn't showed up yet in my savings at NFCU. I gave them a call to check the status and the rep said that they don't allow ACH from external accounts into NFCU savings or checking, and I would have to call my local CU to get my money back.
This is crazy to me, I have never had an issue sending ACH to any of the banks I've been with (Ally, US Bank, local CU, etc). I am going to give it a few days and see if it actually does go through (because I think it will). According to the rep, the ONLY ways to fund my account for the first 30 days, are to mail a check or charge my debit card $250 each day. After 30 days I will be eligable for mobile deposit.
Guess I will have to do the debit card if the ACH doesn't work, but don't like having $500+ just disappear out of my account.
@Jnbmom wrote:
@brandon1767 wrote:On Thursday I went ahead an initiated an ACH transfer from my local CU to NFCU for $550 so I can do the SSL. The money was taken out of my local CU acct, but it hasn't showed up yet in my savings at NFCU. I gave them a call to check the status and the rep said that they don't allow ACH from external accounts into NFCU savings or checking, and I would have to call my local CU to get my money back.
This is crazy to me, I have never had an issue sending ACH to any of the banks I've been with (Ally, US Bank, local CU, etc). I am going to give it a few days and see if it actually does go through (because I think it will). According to the rep, the ONLY ways to fund my account for the first 30 days, are to mail a check or charge my debit card $250 each day. After 30 days I will be eligable for mobile deposit.
Guess I will have to do the debit card if the ACH doesn't work, but don't like having $500+ just disappear out of my account.
NFCU does not allow external accounts to transfer money to them only from them. There is no getting around this , the rep was correct that is their policy. You will need to contact your CU to get your money back.
That's the only thing I don't like about navy.
Just spoke to another rep, and she told me that the rep I first spoke to probably got confused. They DO allow transfers into NFCU originating from another institution. They do not allow you debit transactions from other institutions through them. She said "we wouldn't last very long if we didn't allow incoming ACH transfers". So as long as you originate the ACH transfer from the institution you want to transfer money out of, you should be fine.
@brandon1767 wrote:
@Jnbmom wrote:
@brandon1767 wrote:On Thursday I went ahead an initiated an ACH transfer from my local CU to NFCU for $550 so I can do the SSL. The money was taken out of my local CU acct, but it hasn't showed up yet in my savings at NFCU. I gave them a call to check the status and the rep said that they don't allow ACH from external accounts into NFCU savings or checking, and I would have to call my local CU to get my money back.
This is crazy to me, I have never had an issue sending ACH to any of the banks I've been with (Ally, US Bank, local CU, etc). I am going to give it a few days and see if it actually does go through (because I think it will). According to the rep, the ONLY ways to fund my account for the first 30 days, are to mail a check or charge my debit card $250 each day. After 30 days I will be eligable for mobile deposit.
Guess I will have to do the debit card if the ACH doesn't work, but don't like having $500+ just disappear out of my account.
NFCU does not allow external accounts to transfer money to them only from them. There is no getting around this , the rep was correct that is their policy. You will need to contact your CU to get your money back.
That's the only thing I don't like about navy.
Just spoke to another rep, and she told me that the rep I first spoke to probably got confused. They DO allow transfers into NFCU originating from another institution. They do not allow you debit transactions from other institutions through them. She said "we wouldn't last very long if we didn't allow incoming ACH transfers". So as long as you originate the ACH transfer from the institution you want to transfer money out of, you should be fine.
This is true. I send money to NFCU almost daily, personal and business accounts. The only think you a not do is pull money from an outside institution (unless it is a CC payment etc.) It should show up soon but some ACH's are faster than others depending on the institution. NFCU is very good at sending outside transactions with next day funding. Some CU's take up to 3 days to process even though the money disappears days one.
The best for me though is Elements FCU account which is excellent since thir ACH pushes and pulls funds with next day availability. I wish they all did that.
