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Checking

The Hub
 

HELPFUL TIP: CHECKING

You work hard for your money. Your money should work hard for you. That means keeping as much of it as possible in interest earning accounts and keeping only enough in your checking to cover your day-to-day bills and expenses. Put the rest of your money in a savings account or CD, so it can grow for you at a higher rate.

OVERVIEW

Three flexible checking account options. One that’s perfect for you.

For most of us, your checking account is at the center of your financial universe. So you want one that’s just right. Whether you’re opening a brand-new checking account with Direct Federal, or making the wise switch from another bank, you can enjoy a variety of conveniences like online and mobile banking, remote deposit and much more. And it all starts here, by choosing the account that’s best for you

  1. Hub Checking (or ‘The Hub’): Do you use direct deposit for your job, pension or social security? Do you prefer e-statements? If both are a ‘yes,’ then Hub Checking offers a slew of benefits, like no monthly service charge, cash-back rewards and more.
  2. 65+ Checking: Loving those Golden Years? Here’s another reason to love them. At Direct Federal, anyone over the age of 65 can enjoy a free checking account.
  3. Basic Checking: E-statements and Direct Deposit not for you? Not a problem. Our basic checking is also a good choice.

Ready to switch over to any of our checking accounts with Direct Federal?

Download your Switch Kit now.

LEARN MORE

Learn More

Hub Checking (or ‘The Hub’):

Do you use direct deposit for your job, pension or social security? Do you prefer e-statements? If both are a ‘yes,’ then Hub Checking offers a slew of benefits, like no monthly service charge, cash-back rewards and more. Plus, take advantage of:

  • • Unlimited no charge ATM, POS and Debit Card transactions
  • • Unlimited monthly Cash Back Rewards: $0.10 per POS and Debit Card transaction
  • • Up to $5 per month in ATM surcharge reimbursement
  • • $0 stop payment fees
  • • Unlimited Free Standard Checks
  • • Free annual credit report
  • • Free Travelers Cheques
  • • Free official checks

 

Overdraft protection

Whatever checking account option you choose, you can take advantage of Overdraft Protection, a service to help you prevent overdrafts and returned checks on your checking account. More specifically, it’s a revolving line that allows you to borrow money up to an approved credit limit, any time you need the funds. Interest is charged only on the amount actually borrowed. As payments are made, the funds become available again.

Additionally:

  • Credit lines available up to $10,000
  • Minimum monthly payment of either 3% of the outstanding balance; or $25, whichever is greater
  • Ability to prepay your loan at any time without penalty
     

To add Overdraft Protection to your checking account, simply indicate the amount of protection you would like in the corresponding section of your checking account application.

 

ATM NETWORK

Direct Federal is part of both the NYCE® and CIRRUS networks, which offer more than 900,000 ATM locations worldwide. You can make deposits to your account at one of over 200 NYCE® Shared Deposit ATM locations in Massachusetts. (NOTE: You can use your Direct Federal debit card for purchases anywhere that MasterCard is accepted.)

And remember, you never pay ATM surcharge fees when you access your account at one of the 2,000+ SUM locations; or any one of the 800+ ATMs in Publix Markets in Florida and Georgia.

FAQs
FAQs

What does it mean to have a returned check?

A returned check is a check that was either deposited or cashed on your account and was denied payment by the third-party institution from which it was drawn from.

A returned check is a check that was either deposited or cashed on your account and was denied payment by the third-party institution from which it was drawn from. There are several reasons why an institution may not pay a check, including: insufficient funds, uncollectible funds, stop payment or closed account. Depending on the reason for the returned check, the check may or may not be able to be redeposited.

Why is my balance more than my available balance?

There are several reasons why this may occur:

There are several reasons why this may occur:

  1. A check was deposited into your account and placed on hold.
  2. You used your Direct Debit Card and the merchant placed a hold on the funds.
  3. You gave someone a personal check and that individual brought the check into a branch to receive funds, and the check has been held until it is processed through our check clearing company.

What should I do when an unauthorized check clears my account?

Speak to a Direct Federal Member Service Representative.

Speak to a Direct Federal Member Service Representative. This can be done by visiting the branch or calling us at 781-455-6500. Once it is established that the item is unauthorized, an affidavit of forgery needs to be completed and either mailed to Direct Federal or taken into the branch for processing. Once the process is complete, the funds will be returned to your account.

How do I get free checks?

You can get free checks with a Hub checking account.

You can get free checks with a Hub checking account. Your initial check order is sent at the time the checking is opened. You can also reorder checks through web banking, our member service center, or in the branch.

I authorized a check over the phone, why do I not see the check copy?

In many cases, when you authorize a check by phone the merchant does not generate a physical check.

In many cases, when you authorize a check by phone the merchant does not generate a physical check. In this case, you may see the check appear as an "ACH" transaction.

What is "ACH"?

An ACH, or Automated Clearing House, transaction is an electronic transaction that allows merchants to access your account.

An ACH, or Automated Clearing House, transaction is an electronic transaction that allows merchants to access your account. For example, payroll direct deposits are ACH deposits. Additionally, things like gym membership dues can be set up as ACH withdrawals.