PenFed

[jim584672]

PedFed you definitely need to ACH push or pull from the outside.

 

[Dtail]

PenFed has a branch in the same building where I work. Their employees are generally either poorly trained or incompetent, except for the simplest of tasks. They have a good deal every once in a while, but overall have been pretty bad for several years now, with uncompetitive rates. I do not recommend them to anyone.

Agree. They had their heyday years ago with the great CD rate.

 

[Accidental Retiree]

PenFed has long been notorious for their $5K daily transfer out limitation. Sounds like it's now much worse.

The better option is to initiate a transfer from the receiving institution and let them pull from PenFed. That goes much better.

He’s never had a problem pushing money from his PenFed savings to his external checking, as recently as mid-April.

The woman today eventually told him there’s a $10,000 daily limit. I think they just make it up as they go along.

She completed the transaction and graciously waived the $5 fee they’d ordinarily have charged for her to do the transaction.

 

[Chuckanut]

Agree. They had their heyday years ago with the great CD rate.

For a number of years they also offered a true chip-n-pin credit card that could be used to do things like purchase train and bus tickets from machines in Europe, rather than waiting in the long lines to speak to a person. That saved me a lot of time.

Now with 'tap' cards, chip-n-pin seems to have been forgotten.