PenFed Credit Union one external account rule

[MySunrise271]

I've just started using my PenFed checking account with a partial DD and learned you can only link one external account from the PenFed side.  Has this always been in place?  Are there any other ‘oddities’ associated with the Free checking account?  I'm testing out the bill pay and it's taken four business days when I pushed a payment from Penfed account to my FNBO credit card.

[SouthJamaica]

---

@MySunrise271 wrote:

I've just started using my PenFed checking account with a partial DD and learned you can only link one external account from the PenFed side.  Has this always been in place?  Are there any other ‘oddities’ associated with the Free checking account?  I'm testing out the bill pay and it's taken four business days when I pushed a payment from Penfed account to my FNBO credit card.

---

That sounds crazy.

I have a number of linked external accounts, but lately I and others in this forum have had trouble adding accounts.

PenFed has a lot of oddities; it's hard to keep up with them.

Lately, they've been limiting balance transfers to 1 per day.

[OmarR]

I'm a member, with just the $5 required share, nothing else.

I keep them around in case they ever come up with a CC that interests me. But they just recently sent me a letter saying that they were going to close my account (for inactivity) unless I responded with a form they sent me. Now, I can totally understand if it was some checking accounts, but for the share account itself?

And here is the best part; the letter said that they would not be giving me my $5 back. It would go into my state's unclaimed fund, and I would have to go after it from there.

With Penfed, once a member, NOT necesarily always a member. 

[iamdetermined]

When I contacted PenFed regarding this I was told this is a new "temporary" rule due to increased fraud. I realized it when I attempted to make a transfer from one of external five accounts that was previously linked and it was gone. My work around the external delay is to Zelle funds from one external account to have it post faster.

[MySunrise271]

---

@SouthJamaica wrote:

---

@MySunrise271 wrote:

I've just started using my PenFed checking account with a partial DD and learned you can only link one external account from the PenFed side.  Has this always been in place?  Are there any other ‘oddities’ associated with the Free checking account?  I'm testing out the bill pay and it's taken four business days when I pushed a payment from Penfed account to my FNBO credit card.

---

That sounds crazy.

I have a number of linked external accounts, but lately I and others in this forum have had trouble adding accounts.

PenFed has a lot of oddities; it's hard to keep up with them.

Lately, they've been limiting balance transfers to 1 per day.

---

Yes very crazy. However the one account rule was told to me by a CSR 🙄 and then she checked to to see if my external account was linked and said it had expired so I said how do we fix this and she deleted the external account and now I'll have to wait 24-48 hours to try and link the account again. 

[SUPERSQUID]

---

@SouthJamaica wrote:

---

@MySunrise271 wrote:

I've just started using my PenFed checking account with a partial DD and learned you can only link one external account from the PenFed side.  Has this always been in place?  Are there any other ‘oddities’ associated with the Free checking account?  I'm testing out the bill pay and it's taken four business days when I pushed a payment from Penfed account to my FNBO credit card.

---

That sounds crazy.

I have a number of linked external accounts, but lately I and others in this forum have had trouble adding accounts.

PenFed has a lot of oddities; it's hard to keep up with them.

Lately, they've been limiting balance transfers to 1 per day.

---

I can echo the bt thing SJ.

A few weeks ago I took advantage of a bt offer on 1 of my penfed cc's. I wanted to transfer balances from 3 other cards and they would only allow one per day. When I called and asked them why they told me it was because people were using multiple bt's at once and exceeding their cl.

[xenon3030]

It might be temporary and for new accounts only. It might look weird and awkward but some banks have such internal rules. For example, WF clears any deposited check to the new accounts after ~2 weeks (the first year accounts, mobile deposit). I closed my WF checking account after collecting the SUB while I did not like such "old fashion" internal rules that do not make sense. Not sure what they plan to do in two weeks while a person can simply do ACH to access to his own money in the next day.  

[gingerflower]

I have 2 External accounts added to my Checking account with Penfed. I wanted to add the 3rd and was told by customer service not possible.  Very odd other Cu's or banks I have 3 external accounts. 

[xenon3030]

That sucks. So, this checking account disqualifies to become the main checking for a customer. 

[SouthJamaica]

---

@xenon3030 wrote:

That sucks. So, this checking account disqualifies to become the main checking for a customer. 

---

Agreed.