Navyfcu has said as long as I know " An Automated Clearing House (ACH) transfer can only be completed out
of a checking account. They cannot, due to regulations by the Federal
Reserve Bank, be sent out of a savings account. The Federal Reserve
Bank does not consider a savings account to be a transactional account."
Is this correct? I do loads af ach in and out of online savings , not moneymarkets, savings definitely. Fed limited to 6 per month, but they went thru fine. Do ach transfers in and out, initiated at external banks, actually work at navy fcu ?
Sorry, zjts. Iām by no means knowledgeable regarding NFCU. And Iām not able to see whatever post of mine it was that apparently prompted your inquiry. It must have been a while back. And you did not quote whatever I wrote, so Iām at a loss.
The most informed poster we have regarding NFCU is Argyll. Perhaps he would be able to answer you. Sorry, I cannot.
Navyfcu has said as long as I know " An Automated Clearing House (ACH) transfer can only be completed out
of a checking account. They cannot, due to regulations by the Federal
Reserve Bank, be sent out of a savings account. The Federal Reserve
Bank does not consider a savings account to be a transactional account."
Is this correct? I do loads af ach in and out of online savings , not moneymarkets, savings definitely. Fed limited to 6 per month, but they went thru fine. Do ach transfers in and out, initiated at external banks, actually work at navy fcu ?8
Couple of years ago, I attempted to set up ACH transfer to/from NFCU savings. The other bank made 3 small test deposits successfully, but it was unable to withdraw those deposits afterwards, as is customary. NFCU told me at the time that withdrawals via ACH were not allowed from savings.
Yep, NFCU doesnāt let you ACH pull out of your savings account. I had the same experience hwen I opened my account 9 or 10 years ago. Havenāt tried again.
The three services probably use differing analytical methods and approaches. When checking out a particular financial institution I always consult all three since it is free to do so.
Course right now Weiss is tardy. Iām watching and waiting for their take since Iāve always thought Weiss is the toughest grader. You should know other people disagree with me on that. Nevertheless, itāll be interesting to see what Weiss eventually produces.
Weiss also offers a helpful, and free, watchlist feature which I like and use.
I really wonder whatās going on with Weiss on this. Is it because theyāre having trouble getting a clear picture and donāt want to guess at the risk of misleading investors? But weāre near the end of Q3 so Q2 data should have had plenty of time to get compiled and analyzed by now so it seems odd.
Either way, thanks for keeping us updated on when these services update their ratings.
However, credit unions will not be required to submit their Q3 financial data to the NCUA until approximately the twenty-sixth of October. Thereafter the NCUA will ruminate for a number of weeks before finally releasing their Q3 summary some time around Thanksgiving.
Only after that summary is released can the three rating services go into action. You can look for them to provide us new ratings, based on Q3 data, very roughly three months from now . . . give or take.
Ally is now disallowing online closure of NP CDs. You now have to call in. I saw this discussed on DA and I verified that this message now shows on Ally:
Weāre only processing early withdrawals by phone right now.
Call us at 1-877-247-2559. Weāre here 24/7.
Itās possible but cable companies offer better rates to retain customers. Would Ally offer a higher interest rate in their NP CDs to retain investors? Not sure about that.
