Money Market FAQ

  • Most instant payments are delivered within seconds. In some cases, availability may vary due to processing or review.

  • Instant payments can be sent at any time, including weekends and holidays, depending on the sending financial institution.

  • There are several reasons you might receive an instant payment:

    • Someone sent you money from another bank or credit union
    • A business issued a refund or reimbursement
    • A payroll or disbursement payment was processed

    If you don’t recognize the transaction, contact the sender.

  • No. You can receive instant payments automatically when one is sent to you. At this time, UFCU Members can receive instant payments only.

  • FedNow and RTP (Real-Time Payments) are payment networks that allow financial institutions to send money instantly between accounts. UFCU uses these networks to enable Members to receive instant payments from other financial institutions.

  • No. UFCU does not charge a fee to receive instant payments. Any fees are determined by the sending financial institution.

  • In most cases, instant payments are delivered within seconds. Timing may vary depending on the sending financial institution.

  • Instant payments appear in your transaction history within Online Banking and the Mobile app. You might see such labels as:

    • “FedNow deposit”
    • “RTP deposit”
    • “Faster payments”
    • “Deposit” or “Transfer”

    The transaction description might also include:

    • The sender’s name
    • The sending financial institution
    • A payment processor name

  • To receive an instant payment, the sender must initiate the payment from their financial institution. You may need to provide your 13-digit UFCU account number and/or UFCU’s routing number (314977405).

    You can find your account number in Online Banking or at the bottom of your checks.
    For help locating your account details, visit Online Banking FAQs.

    At this time, UFCU Members can receive instant payments only.

  • Instant payments are a fast way to receive money directly into your UFCU account, typically within seconds, even outside normal business hours.

  • No. For your security, never share your password. Instead, designate a joint account holder, beneficiary, or POA. Joint account holders are given their own unique login and password for Online Banking and the Mobile app.

  • Visit any UFCU branch or call Member Services. These updates cannot be completed online at this time.

  • A POA can act on your behalf while you are living if you become unable to manage your finances. They can pay bills, deposit or withdraw money, and use Online Banking. Their authority ends at the end of your lifetime.

  • A beneficiary does not have access to your account during your lifetime. Once a death certificate is presented after your passing, they may claim the remaining funds and then the account will be closed. You may designate multiple beneficiaries and update them at any time.

  • Yes. A joint account holder can use Bill Pay, transfer funds, and manage payments just like the primary account holder.

  • A joint account holder shares full access to your account. They are issued their own debit card and given a unique login for use with Online Banking and the Mobile app. They can deposit or withdraw money, pay bills, view transactions, and use Online Banking or the Mobile app. They also share responsibility for fees or negative balances.

  • You can designate a joint account holder, beneficiary, or Power of Attorney (POA). Each option offers various levels of access depending on your needs. These roles help ensure your accounts can be managed if you’re traveling, unavailable, or facing an unexpected life event.

  • You will need to add your card(s) again and follow the setup steps once more to carry over info to any different or new devices. In some cases, the digital wallet will still hold your cards and just ask you to verify your CVC number on the back of your UFCU debit or credit card. 

  • If your UFCU card is replaced, you will need to re-add it to Apple Pay or Google Wallet to continue making digital payments. If you have any trouble, you can contact (800) 252-8311 for help.

  • Yes. Digital wallets use advanced security features like tokenization and biometric authentication (such as Face ID, Touch ID, or a device passcode). Your actual card number is never shared with merchants, adding an extra layer of protection. You are also protected from unauthorized purchases with the UFCU and VISA Zero Liability Policy.

More Money Market FAQs

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