There are a lot of features that comprise a checking account. We’ve answered some frequently asked questions to help you get the most out of your checking account.
WHY DO I SOMETIMES NEED DIFFERENT ACCOUNT NUMBER FORMATS?
Automatic withdrawals or deposits require a specific version of your account number to ensure that your money finds its way into or out of your account correctly. Common examples might be direct deposit for a paycheck or automatic payment for a gym membership.
When you work with an organization outside of SLFCU to set up automatic deposits or withdrawals, you will need to use your 10-digit account number to ensure your transaction is processed correctly.
You can find your 10-digit number at the bottom of your checks, as well as in CU@home Online. Go to Self Service and select Automatic Withdrawal Instructions or Direct Deposit Instructions under Account Service.
WHY DO I HAVE A LIMITED NUMBER OF SAVINGS ACCOUNT TRANSFERS?
Due to a federal regulation, financial institutions cannot process more than six unsigned transfers or withdrawals per month originating from a savings account. Limited transactions include online and most phone transactions, as well as automatic overdraft transfers.
If you are using overdraft protection regularly and have multiple transfers from a savings account, consider making one lump sum transfer in advance of needing those funds.
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