NFCU Online Deposit?

[Carrie2008]

Under the Help section on NFCU's website there is a section about online deposits, but I can't find anything else about it? Has anyone used this before? How does it work?

 

Thanks!

[tarbaby]

I make them via bill pay from my regular bank. I was just adding some accounts to another bill pay account at another bank and noticed cc payments are electronic. But deposits are via check. I wonder if you put your visa checkcard number in the account section..if it would work like a deposit?

Edited August 1, 2008 by tarbaby

[Carrie2008]

I was thinking it was more like what USAA does with "Deposit at Home" Here is what I found on the NFCU website...

 

How can I make an online deposit?

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You can make an online deposit through the Navy Federal Online Account Access service. To use the Online Deposit service, simply click on the Online Deposit icon located on the main Account Access navigation bar and begin entering your Online Deposit information as prompted by the system.

 

The Online Deposit Service can be used to deposit personal, business or third-party checks. Each online deposit may contain up to five (5) items.

 

How soon do I need to mail my Online Deposit checks to Navy Federal?

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Once you make your Online Deposit, Navy Federal must receive your check(s) within seven (7) calendar days of the date of your Online Deposit. If the check(s) are not received within seven (7) calendar days, your Online Deposit will be reversed and your account balance will be adjusted.

[ClarkeCO]

You still have to mail in the checks. So why not do it at one of their atms?

[db23]

I was thinking it was more like what USAA does with "Deposit at Home" Here is what I found on the NFCU website...

 

How can I make an online deposit?

--------------------------------------------------------------------------------

You can make an online deposit through the Navy Federal Online Account Access service. To use the Online Deposit service, simply click on the Online Deposit icon located on the main Account Access navigation bar and begin entering your Online Deposit information as prompted by the system.

 

The Online Deposit Service can be used to deposit personal, business or third-party checks. Each online deposit may contain up to five (5) items.

 

How soon do I need to mail my Online Deposit checks to Navy Federal?

--------------------------------------------------------------------------------

Once you make your Online Deposit, Navy Federal must receive your check(s) within seven (7) calendar days of the date of your Online Deposit. If the check(s) are not received within seven (7) calendar days, your Online Deposit will be reversed and your account balance will be adjusted.

 

Online deposit services that require checks to be mailed in are worthless IMO. Thus far DCU is the only credit union I know of that doesn't require them to be mailed in. There are a bunch of them that offer this but then also require having the checks sent in.

[nyrfann]

I was thinking it was more like what USAA does with "Deposit at Home" Here is what I found on the NFCU website...

 

How can I make an online deposit?

--------------------------------------------------------------------------------

You can make an online deposit through the Navy Federal Online Account Access service. To use the Online Deposit service, simply click on the Online Deposit icon located on the main Account Access navigation bar and begin entering your Online Deposit information as prompted by the system.

 

The Online Deposit Service can be used to deposit personal, business or third-party checks. Each online deposit may contain up to five (5) items.

 

How soon do I need to mail my Online Deposit checks to Navy Federal?

--------------------------------------------------------------------------------

Once you make your Online Deposit, Navy Federal must receive your check(s) within seven (7) calendar days of the date of your Online Deposit. If the check(s) are not received within seven (7) calendar days, your Online Deposit will be reversed and your account balance will be adjusted.

 

Online deposit services that require checks to be mailed in are worthless IMO. Thus far DCU is the only credit union I know of that doesn't require them to be mailed in. There are a bunch of them that offer this but then also require having the checks sent in.

Agreed.

[Carrie2008]

I was under the impression that the money would be available right away... ????

 

I also found this...

 

What is a provisional credit?

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A provisional credit is a temporary credit made to your account based on your agreement to the Terms and Conditions of the Online Deposit Service. If your Online Deposit check(s) is not received within seven (7) calendar days from the date the Online Deposit was initiated, the provisional credit will be reversed from your account. Deposits that are received after the seven (7) calendar days window has elapsed will be processed as a regular, mail deposit, and subject to any applicable holds.

 

When will my online deposit be reflected in my account balance and transaction details?

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Your deposit will be reflected in your account balance and transaction details the next time you sign on to Account Access.

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[nyrfann]

I was under the impression that the money would be available right away... ????

I also found this...

 

What is a provisional credit?

--------------------------------------------------------------------------------

A provisional credit is a temporary credit made to your account based on your agreement to the Terms and Conditions of the Online Deposit Service. If your Online Deposit check(s) is not received within seven (7) calendar days from the date the Online Deposit was initiated, the provisional credit will be reversed from your account. Deposits that are received after the seven (7) calendar days window has elapsed will be processed as a regular, mail deposit, and subject to any applicable holds.

 

When will my online deposit be reflected in my account balance and transaction details?

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Your deposit will be reflected in your account balance and transaction details the next time you sign on to Account Access.

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Correct, but I would not use that money until they receive and deposit the check (Unless you have money to back it up)

 

Imgine you use the money becasue it's available and then the check never gets to Nayy. This could lead to big problems.

 

USAA & DCU do it the right way!

Edited August 1, 2008 by nyrfann

[Steve_]

Does anyone see this online deposit option? I don't see anywhere to enroll either.

[nyrfann]

Does anyone see this online deposit option? I don't see anywhere to enroll either.

No.

[Steve_]

USAA & DCU do it the right way!

 

No doubt. USAA Deposit@Home rocks my socks.

 

Navy's offering is still better than nothing... I'm sure the infrastructure to offer home check scanning isn't cheap. This is a good intermediate step.

[alicia671]

I actually wrote NFCU about remote deposit a few days ago... Here's what they said...

 

Thank you for using Navy Federal Online. We appreciate your interest in our online deposits. As you may be aware, Navy Federal is continuously looking for ways to improve our service to our geographically dispersed membership. We recognize the importance of providing convenient ways to make deposits we are aware of various offerings that financial institutions are beginning to use to facilitate online deposits from remote (non-branch) locations. Navy Federal believes that such an offering would also be beneficial to our geographically dispersed membership. We are currently evaluating such deposit processes in anticipation of being able to offer a "remote deposit" type of online service in the future. At this time, we do not have a date when the service will be offered. We will notify our membership when we have specific date. Please let us know if we can be of any further assistance and thank you for using Navy Federal Online.

[db23]

USAA & DCU do it the right way!

 

No doubt. USAA Deposit@Home rocks my socks.

 

Navy's offering is still better than nothing... I'm sure the infrastructure to offer home check scanning isn't cheap. This is a good intermediate step.

Actually, I'm settling with nothing since I think that is the best option currently available to me. (Don't want to join DCU and can't join USAA)

 

Actually these services that require the check to be mailed in are probably all using a service provided by CheckFee so their infrastructure cost is probably next to nothing.

[johnnyt6]

any update?

[Sergio SPL]

i dont even see this option

[romecoo]

where is this Online Deposit option at? I dont see it anywhere! Is it something I have to enroll in?

[johnnyt6]

I think it has to be enrolled for, but I can't find the enrollment

[brianfg]

I think it has to be enrolled for, but I can't find the enrollment

 

NFCU does have an online deposit program. Took me forever to figure out whats going on, even the NFCU workers had no idea. Apparently like a year ago they decided to run a trial version, randomly selecting participants by a computer. These selectees received an extra option online where they could elect to enroll in the program. Thats why all the help information is there, for these selectees. The supervisor I talked to said there is no way to enroll yet as they are still testing the system, and don't know when it will be available. Which is pain because I'm an hour and a half away from the nearest deposit location an it takes about 8 days when I mail them a check. Seeing as how I mail a check every two weeks (renters) this means that half the year I'm waiting for NF to cash my check, which is unbelievable.

[vintagespeed]

yeah, after moving all my banking to NFCU this is my biggest complaint/request. my payroll is DD so it's easy and quick but my DW's is by check and it's a pain. currently i have her check deposited into our old acct and transfer the funds.

[spioter]

brianfg Sep 24 2009, 08:14 AM

"Seeing as how I mail a check every two weeks (renters) this means that half the year I'm waiting for NF to cash my check, which is unbelievable."

 

I had the same issue - 3 different checks from 3 different individuals at my rental though this was only monthly - I can't imagine every 2 weeks!

 

Here is an option: Have your renters mail the check (or use their bank's website to send on automated schedule) directly to NFCU and put your name / account number on the check:

 

Make it payable to you.

 

Memo field should read: for deposit to <your account number>

 

Address:

Navy Federal Credit Union

P.O. Box 3000

Merrifield, VA 22119-3000

 

 

Words of advice -

a. for security reasons - you may want to open a brand new checking account or use an account that has a very low balance. Your renters will know your account number and your bank so they will easily be able to get the routing number and then use this information to make payments from your account.

b. these will just appear as generic deposits on your statement with no identifying info. If your renters cannot auto-schedule the payments and/or you have several checks of same amount and you need to know who sent the payment, then you could use the cents portion of the payment to identify the person. Little geeky but it would work. e.g. if 3 renters owe you $500 per month, have them send in 500.01, 500.02, 500.03.

[brianfg]

Just got a message saying I was accepted into the online deposit system. After agreeing to their terms of agreement I can now deposit checks online, up to $2500.00 at a time. I haven't contacted for months, so maybe they are finally rolling out their program?

[radiodesignguy]

Actually, I've been able to do this on my business NFCU checking for the last month. Can't do it on personal accounts.

[ffterry]

I received an online message from them saying I had been chosen to participate in the online deposit feature on 11-16. It seems to be a targeted offer right now.

[vintagespeed]

i sent in my message requesting to participate in the program. we'll see.....

[vintagespeed]

i sent in my message requesting to participate in the program. we'll see.....

 

boo.

 

Navy Federal Response 11/20/2009 : Thank you for using Navy Federal’s eMessaging Service. At this time, the program is still in a pilot phase and is consequently only available to a limited number of members. Members included in the pilot received personalized mailings with instructions. At the conclusion of the pilot, we will make a decision as to whether we will add the Online Deposit Service to our regular product line and expand eligibility to other members. If you have additional questions or concerns, please let us know.