Hello,

I have been using a rudimentary credit union for banking but I have been finding their lack of online banking to be annoying. I opened a Chase account becasue they sent me a $75 opening bonus coupon. I was a little bit disappointed that I don't see any place in ther online banking system to do ACH transfers. Does anyone use Chase here that might have some insight as to how to do ACH pulls from my credit union account into my Chase account? Thanks and nice board!

-Rick

Edit: That's me below, I forgot to log back in.

Hi Rick,

I do not think that Chase offers online ACH transfers. Only few banks do. You may ask Chase customer service if they offer recurring ACH transfers (if recurring transfers suit your purpose).

At this moment, the fastest way to do on-demand transfers is via USAA (Your credit union -> USAA -> Chase). Several people reported that you can initiate incoming and outgoing transfers to/from USAA within one online banking session because incoming transfers are credited to your account right away. I have not verified this info though.

I can imagine that after you open an USAA account, you may not need an overpriced Chase account at all.

Mark

I know what you mean about Chase. I was resisting them but the $75 got me to sign up. That and they are ubiquitous in NYC. One other question you may know: I am required to have direct deposit to keep the account fee free. Do you know if Chase counts ING direct transfers into my checking account as direct deposits? I can call them and ask but who want to navigate their menu system!

but the thing is not everybody is eligible for a usaa account. its for military people only. i'd say keep your chase account for the bonus, wait for the minimum opening time to expire then close the account and find a checking account (this site has some good ones listed) that meets your needs.

This restriction is only for USAA insurance. USAA banking services are available to everybody.

Most banks can not detect the difference between direct deposit ACH transfers and customer-initiated ACH transfers unless they know ACH transfers from which FIs they should not consider as direct deposits. So if you call Chase and ask this question, you will increase chances that Chase will stop counting ING Direct transfers as direct deposits.

I've used ING Direct for several years and have had no problems using its ACH transfer into several checking accounts (Credit Union, BofA, etc) and all seem to accept it as a Direct Deposit (checking accounts at all require Direct Deposit for free checking) and I've yet to be charged a service fee for not having a 'true' direct deposit. I did forget to do a transfer one month and was charged the service fee.

Similarly, I used the Yahoo CashEdge; however, that's gone after this month.

I think you can still use cashedge.com trial version of its online money movement service to simulate direct deposits. You will just get very low limits for ACH transfers (~ $20 per day, $50 per month?). But it will still be sufficient for this purpose. The only problem with cashedge service is that it does not offer recurring transfers. So you will have to remember to initiate a transfer every month.

Does cashedge.com still work for this purpose? Its website is a little intimidating. I see some good offers that require $250 / month Direct Deposits. I could get my friend to sign up for it and send me payments, that way I wouldn't be paying myself. But again, most modern offers I see require at least 2 months of DD. So I wonder how much service @ cashedge costs (If it's lower than the bank bonuses I'd be netting, that wouldn't matter).