Advertising Disclosure
  1. Home
  2. Community
  3. Ask
  4. Navy Fed -- Do They Allow Outgoing Achs From Money Market Accts?

Navy Fed -- Do They Allow Outgoing Achs From Money Market Accts?

trav99
  |     |   14 posts since 2022

Hi folks, I'm getting tired of getting constant conflicting information from NavyFed each time I call!

Can someone who has a NavyFed MONEY MARKET account verify if they will allow you to WITHDRAW FUNDS VIA ACH initiated from another bank, or if withrawing funds via ACH is blocked, the same way it's blocked for their normal savings accounts?

Every time I call NavyFed I'm told conflicting information: either that (a) it's allowed only for checking accounts, OR (b) it's allowed only for checking accounts or Money Market accounts (but not normal savings accounts).

Each time I'm put on hold while the CSR checks, and then I'm given the exact opposite info as the last time.

The only reason I'd open up a MMA would be if they allow funds to leave via ACHs (originated elsewhere) -- something blocked for normal Navy savings accounts (I don't want a checking account at Navy.)

Can someone who has a NavyFed MMA (or Jumbo MMA) verify if funds in the MMA are allowed to LEAVE NavyFed via ACHs (initiated by another bank) or does Navy block funds leaving the MMA in the same way they block funds leaving from the (non-MMA) regular savings account via ACH?

Thanks!

  Post an answer
2


Answers
MoneyMoves
  |     |   149 posts since 2019
Maybe helpful ...QUOTE
Transfers and Withdrawals:
You may transfer and/or withdraw funds from your MMSA account as often as you want

https://www.navyfederal.org/content/dam/nfculibs/pdfs/savings/mmsa-packet.pdf
Reply
3


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.