Direct deposit (EFT) is safe, secure, efficient, and less expensive than paper check payments and collections. Create a one-time, future-dated or recurring transfer from your checking account, without the need for checks, wire transfers. No fees for electronic transactions Cons Monthly service fee for Business Plus Checking and Business Premium Checking accounts Limited free non-electronic transactions Minimum deposit of 250. If you do not have a bank account, the FDIC website offers information to help you open an account online or at a local bank branch. With direct deposit or electronic funds transfer (EFT), the general public, government agencies, and business and institutions can pay and collect money electronically, without having to use paper checks. ![]() Payments received by 5:00 pm Eastern Time at the mail address. Include the voucher found at the bottom of your statement and mail the enclosed envelope to: Navy Federal Credit Union, PO Box 3100, Merrifield, VA 22119-3100. If you get federal benefits, such as Social Security, Supplemental Security Income (SSI), Veterans' benefits, civil service retirement, military federal retirement, or railroad retirement payments, you must get your benefits by direct deposit (EFT). It is a sequence of nine numbers that helps banks identify other financial institutions in America, and it’s also known as an ABA routing number It guarantees that you are dealing with one of the Federal Reserve banks, and it’s especially important when transferring money overseas. Most plans are paid for through automatic payroll or annuity deductions, so you never have to worry about missing a payment. Payments Your check must be payable to Navy Federal Credit Union and include your Checking Line of Credit account number. Direct deposit (EFT) is safe, secure, efficient, and less expensive than paper check payments and collections.įor information about the Economic Impact (stimulus) payments, please visit the Internal Revenue Service website.Įlectronic payments are required! All federal benefit payments must now be paid electronically. With direct deposit or electronic funds transfer (EFT), the general public, government agencies, and business and institutions can pay and collect money electronically, without having to use paper checks. ![]() It's an easy way to reduce the risk of identity theft and cut down on paper clutter. To get started, select 'Statements' in digital banking. ![]() Please enable JavaScript to use all features.ĭirect Deposit (Electronic Funds Transfer) Say 'Yes' to Paperless Statements If you haven't already, go paperless You can access up to 36 months of statements anytime, anywhere. Bank’s limits on non-electronic transactions are higher than Navy Federal’s. Some features of this site will not work with JavaScript disabled.
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