ACH

Account to Account Funds Transfer Services

Regulation D stipulates that there is a maximum of six (6) transfers per month from each savings overdraft source. This includes transfers from your Regular Share or Money Market Accounts using Call 24 and the_Max! eBranch, and pre-authorized transfers. When the maximum of six transfers has been reached in a calendar month, no additional overdraft transfers will be processed from the Regular Share or Money Market Accounts.

Sending Funds Transfers

You may subscribe to certain services such as external transfer requests for ACH system funds transfers which will move money from another financial institution into your Northrop Grumman Federal Credit Union account or from your Northrop Grumman Federal Credit Union account to another financial institution.

Transaction Limits

There is a total transactions limit of $2,000 per day, per account.

Amending or Cancelling Transfer Requests

You may not amend or cancel a transfer after you have entered it.

Inconsistency of Name or Number

The receiving financial institution may make the deposit to the beneficiary account based solely on the account or other identifying number, even if the name on the transfer request differs from the name on the account. We, or an intermediary financial institution, may send a transfer request to an intermediary financial institution or the beneficiary financial institution, even if the transfer request indicates a different financial institution’s name.

Sending Transfer Requests

We may select any intermediary financial institution, funds transfer system or means of transmittal to send your funds transfer. Our selection may differ from that indicated in your instructions.

Errors or Questions about your Transfer Requests

We notify you about funds transfers by listing them on your account statement. In some cases, we also may notify you electronically. You must notify us immediately if you think a funds transfer shown on your statement or notice is incorrect. You must send us written notice, including a statement of relevant facts, no later than 60 days after the date you receive the first notice or statement on which the problem or error appears. If you fail to notify us within this 60-day period, we are not liable for any loss of interest because of an unauthorized or erroneous debit or because your statement or notice is incorrect. We are not required to compensate you, and we are not required to credit or adjust your account for any loss of interest or interest equivalent.

Notice of Funds Transfer

We notify you that we have received funds transfers by listing them on your account statement. Statements are sent by mail and are also available in the_Max! eBranch under eStatements. We are not obligated to send you a separate notice of each incoming funds transfer. We generally do not provide such separate notices. We are not obligated to pay you interest for the period before the transfer is received. If you are expecting a funds transfer and want to find out if it has been credited to your account at Northrop Grumman Federal Credit Union, log into the_Max! eBranch at www.ngfcu.us or contact us at 800-633-2848.

ACH Debits and Credits

Upon your request, originators that you authorize may send Automated Clearing House (ACH) credits and debits for your account. For each ACH transaction, you agree that the transaction is subject to the National Automated Clearing House Association (NACHA) Operating Rules and any local ACH operating rules then in effect. You agree that we may rely on the representations and warranties contained in these operating rules and either credit or debit your account, as instructed by the originator of the ACH transaction.

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