About Navy Federal Credit Union

Navy Federal Credit Union started in 1933 with less than ten members. These first members have grown over the years to more than four million clients worldwide. Once a member of Navy Federal you are always a member. You can leave the military, change employers, move, retire, be married or divorced and never have to leave.

The credit union has one of the best checking accounts available today. In fact, 94% of surveyed customers recommend the basic checking account that offers unlimited transactions and no minimum balance requirement.

 

Navy Federal Credit Union checking account

  • Minimum deposit to open: $0.00
  • Dividends: Yes Current rates may be obtained online at navyfederal.org
  • Over 50,000 FREE ATMs
  • Free name-only checks
  • Dividend earnings
  • No monthly service fee
  • Unlimited transactions
  • No minimum balance requirement
  • Free Visa Check Card—get cash back at the register
  • Free Bill Pay and Account Access
  • Checking Protection Options

The checking account at Navy Federal Credit Union has the lowest rates lowest fees, overall some of the best customer friendly options available on the market. How can another bank beat $0.00 in monthly fees?

 

Navy Federal Credit Union checking account fees

  • Monthly fee: $0.00
  • Service charge per check: $0.00
  • Bill Pay service fee: $0.00
  • Navy Federal ATM fee: $0.00
  • CO-OP Network ATM fee: $0.00
  • PLUS System ATM fee (overseas included): $1.00 The owner of a non-Navy Federal ATM may charge a fee.
  • Non-sufficient funds fee: $29.00 Per item.
  • Returned check fee (deposited or cashed $15.00 Per item.
  • Inactive checking fee: $3.00
  • Stop-payment fee: $20.00

Navy Federal Credit Union offers checking protection options in order to authorize overdraft transactions and avoid non-sufficient funds fees.

No overdraft service: $0.00
If you choose not to opt in to any kind of overdraft, service, point-of-sale debit card transactions that would cause an overdraft will be declined at no cost to you.
Overdraft transfer fee from savings: $0.00 In combination with other transfers, limited to six per month.
Overdraft Line of Credit transfer fee: $0.00 Payment of a check that exceeds your approved credit limit is $10.00, and the return loan payment fee is $29.00.
Optional Overdraft Protection Service: $20.00
Maximum number of overdraft fees per day: 3
Minimum overdrawn balance required to trigger a fee: $15.00
Extended overdraft fee: $0.00
Total overdrafts cannot exceed $500, including fees.




Navy Federal Credit Union posts items presented on the checking account in the following order

  • 1. All Credits
  • 2. ATM Debits (from smallest to largest)
  • 3. POS Debits (from smallest to largest)
  • 4. ACH Debits (from smallest to largest)
  • 5. Checks (from smallest to largest) 1

 

Funds deposited to your account are generally available for withdrawal

  • Cash Deposit with Teller: Same Business Day
  • Cash Deposit with ATM: Next Business Day 2
  • Check Deposit with Teller: Next Business Day 3
  • Check Deposit with ATM: Next Business Day 2
  • Direct Deposit: Same Business Day 4
  • Wire Transfer Deposit: Same Business Day
  • Scan/Mobile Deposits : Next Business Day 3
  • 1. Subject to Funds Availability Policy.
  • 2. The first $200 will be available immediately and any remaining funds will be available the second business day after the date of deposit. Deposits at nonproprietary ATMs are not available until the fifth business day after the date of deposit
  • 3. Deposits that exceed $2,500 will have a portion of the deposit delayed up to two business days, and in some cases, longer. $200 will be available by the next business day.
  • 4. Direct Deposit is available the same business day, but at midnight.

 

Overdraft options

Navy Federal Credit Union offers Checking Protection options in order to authorize overdraft transactions and avoid non-sufficient funds (NSF) fees.
No overdraft service: $0.00
If you choose not to opt in to any kind of overdraft, service, point-of-sale debit card transactions that would cause an overdraft will be declined at no cost to you.
Overdraft transfer fee from savings: $0.00 In combination with other transfers, limited to six per month.
Overdraft Line of Credit (OLOC) transfer fee : $0.00 Payment of a check that exceeds your approved credit limit is $10.00, in addition, the return loan payment fee is $29.00.
Optional Overdraft Protection Services: $20.00
Maximum number of overdraft fees per day is three.
Minimum overdrawn balance required to trigger a fee : $15.00
Extended overdraft fee: $0.00
Total overdrafts cannot exceed $500, including fees.


Continue Reading




Savings Builder