NFCU transfer problems

[Jnbmom]

Ok having a little trouble tiday. I am trying to transfer money from my external account to my NFCU checking account. When I try to do this the "only" option is to transfer to my CLOC what am I doing wrong?

[SouthJamaica]

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@Jnbmom wrote:

Ok having a little trouble tiday. I am trying to transfer money from my external account to my NFCU checking account. When I try to do this the "only" option is to transfer to my CLOC what am I doing wrong?

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You're not doing anything wrong; it's an oddity of NFCU that you can't pull an external transfer except to your credit accounts. I don't know if it's a glitch or intentional.

Hopefully you can push the transfer from the external account, rather than pull it from NFCU.

[Jnbmom]

Thanks

[FinStar]

OP, as @SouthJamaica mentioned above, this is actually a restriction on the NFCU side. You can only transfer funds from external accounts to loan products (CCs, CLOC, etc.), not checking or savings.

You can, however, push the ACH transfer to NFCU directly from your other bank or CU.

[Anonymous]

Yep, I bumped into this wall a few time before I finally called to see what's up. So I just transfer Money from my GoRewards Visa to Savings, then pay that amount back with my linked external checking. It is a bit of a hurdle I wish they would fix/make less complicated, because w/o having their CC a transfer would be nigh impossible. 

[Jnbmom]

Thank you all

[SouthJamaica]

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@Anonymous wrote:

Yep, I bumped into this wall a few time before I finally called to see what's up. So I just transfer Money from my GoRewards Visa to Savings, then pay that amount back with my linked external checking. It is a bit of a hurdle I wish they would fix/make less complicated, because w/o having their CC a transfer would be nigh impossible. 

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The problem with that workaround is that you're paying cash advance interest rates in the interim.

[Pikaboo-icu]

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@SouthJamaica wrote:

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@Anonymous wrote:

Yep, I bumped into this wall a few time before I finally called to see what's up. So I just transfer Money from my GoRewards Visa to Savings, then pay that amount back with my linked external checking. It is a bit of a hurdle I wish they would fix/make less complicated, because w/o having their CC a transfer would be nigh impossible. 

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The problem with that workaround is that you're paying cash advance interest rates in the interim.

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Agree. Even if there's no interest, there's a cash advance fee in most cases.

This issue with NFCU annoyed me as well but the solution is very easy.

Instead of asking for the transfer from Navy (pulling)

You initiate the transfer from whatever bank/financial institution has the funds. (pushing)

It's almost instant if you utilize the zelle app that many banks are offering now. (no fee). 

If you have added your NFCU account to your other bank, it will be listed just like a transfer when you click zelle as your transfer option. 

[rbentley]

I am also not able to "pull" money from an external account by ACH into my NFCU checking or savings, only to credit products.  I am able however to "push" money to those accounts if I initiate the ACH transfer from my external account.  I have done so many times without issue.

[Anonymous]

There is no fee for the transfer on the CC I have, already looked into that. I also PIF so there is no interest either.

I cannot push from my "payee" account, because they want to pull my CR to "set up" that "service". I'm not gonna waste a HP on that!

That's why i've never signed up for it before. Plus I've not really needed it, as I've not run into this issue before.

It's a local CU, so maybe that's why. IDK

My only other checking account is with BoA, but I don't let much cash sit in there. I only use it to pay the minimums on my CC that have auto billing from Netflix, Cable etc.