Alliant CU

fw9999 said:   Question for folks here...kind of an odd one. I can't remember, but does Alliant's system normally ACH out an automated, matching credit and debit when it checks the routing and account numbers for an account at another bank or CU?

In other words, if on Alliant's website I click on the "Transfer Money" tab, then the "Manage Transfer Accounts" link, then the "Add New Account" button, then fill in the info. for my other account - does their automated system send BOTH a debit and credit that exactly match, which is the model that many banks and CUs use? It seems to me that Alliant used to do that, but today I had a situation where the "target" bank apparently received just Alliant's debit but no credit. Curious.

I called Alliant, but they said basically "that Department is too busy to take phone calls right now", so I had to leave my number for callback tomorrow - so of course that drove me to a whole new level of paranoia.

Am doing these test deposits/withdrawals constantly . . recently. Alliant does both, always in pairs. Ideally they do the credit first, and for me it has been that way the last several times. However, it cannot be relied upon that the credit will hit first.

Smartest approach is to have at least a buck in the target account. However, that's not always possible. What I have done is to discuss the situation with rep at the target bank in advance and take name. Then, if the worst happens and debit hits account first, you have an out.

In general, I always leave an extra buck (over any minimum, for example) in any account I have outside Alliant because these test deposits/withdrawals are difficult to anticipate with precision in such turbulent times as we are experiencing today. Adjustments are constant and ongoing as rates change here and there.

Through it all I use Alliant as my hub, with deposits/withdrawals moving constantly all over the country. So far so good, and I am very pleased with Alliant's service.

fw9999 said:   Thanks for the responses. I see this morning that my first "real" (non-trial) ACH push from Alliant to the new bank worked fine, following the automated trial debit from yesterday that left me technically overdrawn for a few cents for 1 night. Still, the lack of a matching trial credit from Alliant - either yesterday or today - is puzzling. Hopefully they will call me back today and explain.

I also called he new bank yesterday afternoon just to see whether they possibly had some kind of strange blockage on my new accout that would prevent an automated deposit - they said they did not. I also explained the situation to them, to prevent being charged any fees.

By the way, I still consider Alliant my main bank. Their service has been quite good.

No problem. I really appreciate your post. Nothing like that has ever happened to me, and I hope it doesn't! Your story, quite honestly, leaves me a bit nonplussed. I hope you are able to get to the bottom of what happened and let us know. A great many posters here make heavy use of Alliant ACH, so failure of a transfer to go through attracts attention. This is not related to the amount of the transaction. It's the apparent failure of the mechanism that is of interest.

I'm not sure this is an appropriate question to post here but I'm gonna risk it:

Sometimes when I attempt to deposit a check at an ATM (ATM is 1000 miles away and belongs to another credit union) I am not able to make the deposit into my Alliant checking. However, at the very same time and at the same ATM, I am able to deposit my check into my Alliant savings. Has anyone else run into this sort of situation.

Reason I'm not sure this is an appropriate question is because I don't know if this is an Alliant problem or, instead, a problem with the ATM I'm using and its home CU. So question is, when depositing a check at a non-Alliant ATM, are you ever limited regarding into which Alliant account you are able to deposit the check?

Alliant Credit Union has gone back to the old e-deposit system. The Alliant Credit Union Facebook page says that they listened to their members and have gone back to the old system as most people preferred it.

One of the best features of Alliant, for me, is the e-mail notification that they send out whenever one's account is debited or credited. I have accounts with Bank of Internet, Ally and Schwab Bank, too. None of those three have this feature. I recently confirmed this fact via e-mail with the latter two banks. On the BofI site, if this feature exists, I haven't been able to find it. To me, this is an essential feature of net banking.

I haven't logged into Fat Wallet in quite awhile, but thought I'd point this out. If there's anything better than Alliant out there, I haven't found it!

aptvictoria said:   One of the best features of Alliant, for me, is the e-mail notification that they send out whenever one's account is debited or credited. I have accounts with Bank of Internet, Ally and Schwab Bank, too. None of those three have this feature. I recently confirmed this fact via e-mail with the latter two banks. On the BofI site, if this feature exists, I haven't been able to find it. To me, this is an essential feature of net banking.

I haven't logged into Fat Wallet in quite awhile, but thought I'd point this out. If there's anything better than Alliant out there, I haven't found it!

They never email me when the account is debited or credited. Nor do I think I want them to.

How did people survive back in the days when they just received a monthly statement in the mail? Did the banking system even function?

Anyone know where to find Alliant's check hold policy? I'm beginning to regret using the phone app to deposit a check... they're holding a third of the funds for 2 days and another third for more than a week! Would have been quicker to deposit at my local bank and ACH pull from Alliant!

chuck75 said:   The 1st $2500 is immediately available, the 2nd $2500 has a 2 day hold, anything over $5k is a 1 week hold... I think that goes for any check, however you deposit it. I think this is correct...Thanks. I guess I just have to avoid depositing large checks into Alliant

chuck75 said:   The 1st $2500 is immediately available, the 2nd $2500 has a 2 day hold, anything over $5k is a 1 week hold... I think that goes for any check, however you deposit it. I think this is correct...
Not true for ATM check deposits. $20k is available within 2 business days in my experience.

psm321 said:   beethovengirl said:   Not true for ATM check deposits. $20k is available within 2 business days in my experience.For the record, they got back to me with their policy. It's in here: https://secure.alliantcreditunion.org/pdf/global/AccountAgreemen... and effectively says what people have said for normal checks (2.5k immediate, 2.5k 2 days, rest 7 business days) and immediate for low-risk checks like govt. or payroll. They also say that they make exceptions based on account history, etc. (proprietary formula), so that's probably what you've seen.
They don't distinguish between payroll checks and other non-govt checks. Also, I've always gotten $20k availability w/in 2 business days on ATM deposits; that is not the case for me on eDepositPlus checks. I'm aware of what their terms and conditions say, but funds have always been available much faster on ATM check deposits.

Any luck on their July Rates ?

so whats the best way to become a member?

A friend was accepted for a savings account but not a checking; is there any recommended method to eventually get a checking account?

Very possible; he had a WF account that had a $10 fee on it. It's closed now, so I'll have him try again in a few months.

Anybody getting a Security Cert error when trying to login to the iPhone App?

e: Never mind...just had to uninstall, then reinstall the app.

don't think so but State Department federal credit union does i believe

Any news on Alliant August rates yet (I know, it is prob too early)

guardian44 said:   zjts said:   Any news on Alliant August rates yet (I know, it is prob too early)

It remains a tad bit early.

Bear in mind though, that recently over in Europe some interest rates have gone negative. This means that owners of money must pay to have their funds on deposit.

Have not encountered this phenomena yet stateside. Hope I don't.

Yikes.

How does that work? Wouldn't the FDIC/NCUA coverage have to kick in if that happened?

Argyll said:   Denmark's central bank cut the rate it offers on certificates of deposit to negative 0.2% because of a massive influx of cash seeking a safe haven. This sort of thing has happened before, i.e. Switzerland in the 1970s when there were massive cash inflows seeking a safe haven. If they can't lend money out to make interest, then they'll have to charge to hold it. In both these cases, it was due to massive influxes of foreign cash which they wanted to slow down.

The worst case scenario I've heard with a credit union is where the deposit rates were reduced to zero and they asked customers to move some of their cash elsewhere:

http://www.infowars.com/real-story-behind-negative-interest-rate...

Thank you Argyll for a really good and helpful post. Green.

I didn't mean to alarm or frighten anyone and I hope I didn't. I do not anticipate Alliant's interest rates will go negative any time soon, though I don't see a lot of upside potential for August or September. If we can just hold steady that will be a win. We shall learn our fate in the fullness of (not very much) time.

secure webmail fro alliant on 7-20-12

Alliant declared a prospective dividend of 0.80% APY (0 ..797% simple) for the month of August, 2012. The rate applies to the follow ing items:
Savings Account
Traditional IRA
Roth IRA
Coverdell Education Savi ngs
SEP
Supplemental Savings
In addition the HSA rate will remain at 1.25% APY (1.243% simple rate) and the High Rate Checking will remain at 0.75% APY (0.747% simple rate) for August, 2012.