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Penfed Transfer Taking Forever?

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CivalV
Established Contributor

Re: Penfed Transfer Taking Forever?

Lmaooo Pendread! Good one ☝🏼! 

That is seriously how I am feeling right now. I was able to move over $3K into NFCU within 2 days easy, whereas moving $1K into Pendread has taken well over 5 days 😩

Message 11 of 36
CivalV
Established Contributor

Re: Penfed Transfer Taking Forever?

I am sad this transfer is taking forever. 

Message 12 of 36
CreditCuriosity
Moderator Emeritus

Re: Penfed Transfer Taking Forever?

Always very quick for me personally.. Maybe due to having membership for quite some time and considerable assets with them to more than at anytime cover a transfer?  As other stated if member less than 6 months; yes there are some wait times while they figure you out.

Message 13 of 36
Gmood1
Super Contributor

Re: Penfed Transfer Taking Forever?

I did a transfer today to Penfed. Let's see how it goes tomorrow.

Performed one from USAA to Service CU( joined a week ago). It was there the same day. That was ACH! One, if not the fastest ACH I've ever seen. And it was available for use.

I Zelle between Ally, Navy Fed and USAA all the time.

 

I find USAA super convenient. Because I can pull instantly from one FI and then push the amount to another FI minutes later.

 

@Namaste7 

I've been trying to set up Zelle for several days with SDFCU. I keep getting error messages.

 

Received an email from Marcus Goldman Sachs that transfers will be deposited same day if initialized before 12 pm.

Message 14 of 36
Gmood1
Super Contributor

Re: Penfed Transfer Taking Forever?

Update: 4:30 AM EST the transfer to Penfed is in the account and available for use.  So for me, the transfers to Penfed do process within 24 hours.

On the other hand, not even a penny of the funding has showed up in the SDFCU account initialized last Saturday. lol

Been with SDFCU for at least 4 years.

Message 15 of 36
M_Smart007
Legendary Contributor

Re: Penfed Transfer Taking Forever?


@M_Smart007 wrote:

I am not sure PenFed does anything fast? .... I could be wrongSmiley Tongue


Oh wait, I made an Error... Hp's are FastSmiley Tongue

8 days to snail mail a BT check to NFCU   ....reallypounding head against wall.gif

Message 16 of 36
Gmood1
Super Contributor

Re: Penfed Transfer Taking Forever?


@M_Smart007 wrote:

@M_Smart007 wrote:

I am not sure PenFed does anything fast? .... I could be wrongSmiley Tongue


Oh wait, I made an Error... Hp's are FastSmiley Tongue

8 days to snail mail a BT check to NFCU   ....reallypounding head against wall.gif

 

@M_Smart007 

That's good, I recently BT'd from Regions to US Bank.

It took the entire two weeks to process!! 

I'll likely never use US bank for a BT again.😂

Message 17 of 36
DaveInAZ
Senior Contributor

Re: Penfed Transfer Taking Forever?

What Penfed account did you transfer into? Deposits to their Premium Online Savings are held 6 business days, even transfers from another PF account are held 6 days. They think that account is “special”.

And yeah Marcus is really fast now, I transferred funds into Memory bank and in the morning I saw the funds credited so I pulled it to Marcus, they debited Memory a few hours later.

Message 18 of 36
Gmood1
Super Contributor

Re: Penfed Transfer Taking Forever?

@DaveInAZ 

I deposited into the premium online savings account.

I have a small recurring auto transfer set to go there once a month.

 

Maybe doing that allowed the much larger transfer to process faster? I don't know.

 

I see where mobile check deposits are held for 6 days. 

Message 19 of 36
CivalV
Established Contributor

Re: Penfed Transfer Taking Forever?


@DaveInAZ wrote:

What Penfed account did you transfer into? Deposits to their Premium Online Savings are held 6 business days, even transfers from another PF account are held 6 days. They think that account is “special”.

And yeah Marcus is really fast now, I transferred funds into Memory bank and in the morning I saw the funds credited so I pulled it to Marcus, they debited Memory a few hours later.


So I did an ACH transfer from my Chase Bank account to my Penfed Access America Checking account. I even emailed Penfed. It is reflecting the money I transferred but it is not available for use

Message 20 of 36
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