Navy Federal Credit Union

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Kenr6583
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Navy Federal Credit Union

Post by Kenr6583 » January 25, 2021, 4:17 am

Anyone there using Navy Federal Credit Union? I won't waste anyone's time listing my questions until I know if anybody there uses them. Thanks. If anybody uses Wells Fargo, like I currently do, I have few questions for you also if you don't mind.



Jello
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Re: Navy Federal Credit Union

Post by Jello » January 25, 2021, 8:50 am

I do. (Use NFCU, not Wells Fargo) What’s your question?

Kenr6583
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Re: Navy Federal Credit Union

Post by Kenr6583 » January 25, 2021, 8:54 am

Thanks for the response. How well do they work with you while living overseas? Do you have to have a physical US address to bank with them? Is there online banking good as well as customer service?

My biggest problem with Wells Fargo is having to have a United States address. And their customer service sucks.

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Re: Navy Federal Credit Union

Post by Jello » January 25, 2021, 9:13 am

I set up nfcu account while visiting Japan. I told them I live inThailand, but I use a us address as my home of reference. I’m not sure if having a us address was a requirement, I just did it that way.

Online banking has worked well for me.

You can try calling them at 1-888-842-6328 or check navyfederal.org

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Re: Navy Federal Credit Union

Post by Kenr6583 » January 25, 2021, 9:27 am

Appreciate the information.

I'm about sick of Wells Fargo. The NFCU that is close to me has been keeping short hours because of Covid and can't get them because still working 6 days a week. I have read that they are good, but have never talked to anyone who actually used them. Just want someplace that won't flag my account for doing monthly transfers overseas, which I have read Wells Fargo does.

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Re: Navy Federal Credit Union

Post by tamada » January 25, 2021, 1:54 pm

Not sure about "reporting" every overseas transaction but I think all U.S. banks are legally bound to show your ins and outs to any federal or law enforcement agency that requests such. These regulations are now so embedded in global financial services that even non-US banks need to have "know your customer" protocols and agree to data sharing if they want to retain access to foreign exchange markets. I read that about 99% of foreign currency transactions pass through NYC. I haven't read anything recently that says CU's are not required to carry out the same degree of due diligence and data sharing.

I only ever had a WF credit card and that was a nightmare. My buddy's legal business account was with WF and he was fighting with them regularly. My U.S. banking is with Bank of America and although imperfect, I have managed to cope with them mostly online for over 25 years... except for some time around 2003 when the Patriot Act forced them to link my regular BofA checking account with my separate BofA account with no linked SSN or tax ID that I kept exclusively for forex transactions.

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Re: Navy Federal Credit Union

Post by waltpong » January 25, 2021, 8:24 pm

They have a web sight go there for more info ect. I have been using them for the past 10 years and 8 years from Thailand and never had an issue, Questions always answered within a few days on the web sight and you can do online banking with them and have used their debit card to purchase items online and atm withdrawals in any atm here in Thailand their atm withdrawal fee is only $1.00 and can only withdraw $600.00 in a 24hr period.

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Re: Navy Federal Credit Union

Post by marcsarge » January 25, 2021, 9:19 pm

Been using them for all my banking over 35 years. Have never had any major problems that couldn't be done over the phone. Most things can be taken care of 24hrs a day. I'm retire Navy and retired DOD and have used overseas addresses for many of those years and have never had a problem with them. If you use a U.S. address then you might have to let them know that your living in Thailand that way they won't refuse payment for large purchases with CC, or Debit Cards. But if you use your address in Thailand you don't have to worry about that. They are use to dealing with people overseas all the time. As far as fee's for ATM I don't use them here unless I need more cash then I have in Thai bank for emergency. I just Transfer required 65000Bt to Transferwise than to Kbank here in Thailand. Mostly the only reason I use ATM is because NFCU will cancel your ATM/Debit card if you don't use. I don't know how long that is but I use it Jan 1st every year just to make sure they don't and never had a problem after the first time they did it. Any other questions just ask here or PM me.

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Re: Navy Federal Credit Union

Post by Kenr6583 » January 26, 2021, 12:42 am

As far as "reporting" Tam, I was referring to flagging transactions and holding them up. I don't use my debit card or credit card overseas except to make airline purchases and hotel reservations, so that won't be an issue.

I appreciate the feedback from you guys, if I can ever get a day off from here I will go set up an account with them. But with the only $1 ATM fee, that's not bad at all.

Marcsarge, have you ever had any hold-ups with transferwise going through NFCU?

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Re: Navy Federal Credit Union

Post by parrot » January 26, 2021, 3:09 am

Ken, if I understand correctly, the 1% fee is on top of the standard Thai fee charged at ATMs, whatever that might be these days.
If you strike out with Navy Fed, you might consider Pentagon Federal Credit Union. I've been doing business with them for 30 years, 24 of those in Thailand. I have one account with PFCU set up to do online transfers through Bangkok Bank NY to my Bangkok Bank, Udon account. No fee from PFCU for this as it's considered a US transfer (NY). There was some discussion a ways back that this service is no longer available.........but for grins, I did a $1000 transfer using that service today. If the transaction goes through, I should get an SMS from Bangkok Bank (I'm in the US, so not sure if I'll get the SMS).
I also use PFCU's visa card......1.5% back on all charges.
Hope it works out for you whatever path you choose.

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Re: Navy Federal Credit Union

Post by Kenr6583 » January 26, 2021, 3:42 am

parrot wrote:
January 26, 2021, 3:09 am
Ken, if I understand correctly, the 1% fee is on top of the standard Thai fee charged at ATMs, whatever that might be these days.
If you strike out with Navy Fed, you might consider Pentagon Federal Credit Union. I've been doing business with them for 30 years, 24 of those in Thailand. I have one account with PFCU set up to do online transfers through Bangkok Bank NY to my Bangkok Bank, Udon account. No fee from PFCU for this as it's considered a US transfer (NY). There was some discussion a ways back that this service is no longer available.........but for grins, I did a $1000 transfer using that service today. If the transaction goes through, I should get an SMS from Bangkok Bank (I'm in the US, so not sure if I'll get the SMS).
I also use PFCU's visa card......1.5% back on all charges.
Hope it works out for you whatever path you choose.
1% fee, that changes everything, that would be a lot more than $1. It really wouldn't matter to me though, I don't think I would use my US ATM over there anyways. I've never heard of PFCU, but will check into it, thanks.

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Re: Navy Federal Credit Union

Post by marcsarge » January 26, 2021, 9:53 pm

Ken never, Once you add Transferwise in your account manager it easy to do auto transfer's each month or manually transfer whenever you want. It wont show TransferWise as your bank because they our partners with US banks. The Routing # enters EVOLVE BANK AND TRUST. They were using a different bank before it just change last month for me.

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Re: Navy Federal Credit Union

Post by Kenr6583 » January 26, 2021, 11:58 pm

marcsarge wrote:
January 26, 2021, 9:53 pm
Ken never, Once you add Transferwise in your account manager it easy to do auto transfer's each month or manually transfer whenever you want. It wont show TransferWise as your bank because they our partners with US banks. The Routing # enters EVOLVE BANK AND TRUST. They were using a different bank before it just change last month for me.
That's beautiful. I appreciate that little bit of info there.

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Re: Navy Federal Credit Union

Post by Stoeger » January 27, 2021, 3:18 am

I have been a member of NFCU for 52+ years! Up until about 2 years ago, their services were very good! Then, it seemed that they lost the bubble and had some "mental midgets" on their staff who either didn't know their job or would tell you one thing and NFCU would then do another thing! Once they sent a "double wire" and then, said they would try to get the extra money back! I told them "no-don't do that"! So, they tried to stop the transfer even after my wife had already received the money! More than once, NFCU tried to blame their incompetency on COVID19!

While trying to process an electronic wire transfer (EWT) to my wife in Udon Thani, the guy asked me "what country is Thailand in"? I should have told this moron "China"! I have sent many EWTs from Florida to Udon Thani with NFCU over the years but, now I refuse because they use Wells Fargo as their intermediate bank! Wells Fargo sits on my money for several days before sending same to Thailand resulting in 7 or 8 days before it arrives Krung Thai Bank! They in effect are giving themselves an interest-free loan! Multiply that money by thousands of customers and we are talking some significant cash for them to use for FREE! I have to pay NFCU $25 for an EWT and last time, Wells Fargo cheated me on the baht-to-dollar exchange rate for another $80 (total $115 for the transfer)! They got me once but, not again!

I complained to NFCU and asked them why they do business with greedy WF when there are so many other banks that might treat members much better? NFCU is the largest credit union in the world with 7 million members so they should have some leverage! The agent said he would bring this up at the next staff meeting! Right!

Also, I have been a member of Pentagon Federal Credit Union (PFCU) for over 52 years! They can only send a Western Union (WU) to a military site overseas (that's ridiculous) and charge $12! My wife is a Major in Royal Thai City Police but, sending money to her by WU is not allowed! NFCU charges $14.50 for a WU transfer which can go anywhere overseas! The money (up to $10,000) is available to my wife in 5 hours! I now use PFCU for EWTs, they charge me $30, shave the exchange rate for another $35 and have no intermediate bank so the money goes direct to Thailand in about 3-4 days! Ask me if I hate banks and credit unions? Jon H. Stoeger CDR USN-retired

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Re: Navy Federal Credit Union

Post by Mosquito » January 27, 2021, 11:39 am

NFCU member for over 40 years.

No issues with their service, will agree that a number of their phone reps aren't the smartest (few bank phone reps are).

Wire transfers are 25.00, largest amount I've transferred was just shy of 5k USD. Funds normally (for the past 2 years) shows up the next Bangkok Bank business day (NFCU does say, 5-7 days for receipt).

What sucks, is they don't do automatic monthly wire transfers. However, you can send them a secure pm (phone rep will send you the link) with all the transfer details......but initiating the transfer will require a phone call with all the security questions and them verbally going over the info in your pm for secondary verification.

I use their American Express card, no charges for cash withdrawals (220 baht Thai bank charge) using those green atms, and just 1.00 NFCU charge. Just pay the balance from saving every month and no interest paid.

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Re: Navy Federal Credit Union

Post by Charlieb » January 27, 2021, 1:07 pm

Chase Bank offers what they call "Chase Private Client" if your deposits plus investments exceed a certain threshold. I don't remember how much but sure you can Goggle it.
If you are a Chase Private Client member there is no charge for wire transfers and the ones I have done usually show up the next day. Also, there is no charge by Chase for using the ATM here and they will refund the Thai ATM fee (220 Baht) up to a max of 4 times per month.

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