During the month of November 2013, in keeping with our desire to improve the service to our members TATECO (North) Credit Union Society introduced direct deposit as a service to all members conducting financial transactions.
Frequently Asked Questions
What is Direct Deposit?
Direct deposit is the transfer of funds from the TATECO credit Union account into a checking, savings, or Money Market account at any of the Commercial banks of your choosing.
What are the benefits of Direct Deposits?
- Direct Deposit is safe, simple, and convenient
- Your payment will be electronically deposited in your account(s) on the day of payment
- No waiting in line to receive your dividend cheque or proceeds on a transaction
- You can do Direct Deposit to many different accounts and/or banks
How does Direct Deposit Work?
TATECO electronically deposits your payment directly into your account(s) on the date of payment.
When are funds from Direct Deposit available?
Your money is immediately available on the date of payment.
How do I sign up for Direct Deposit?
Visit the nearest branch of TATECO Credit Union and provide the following us with your Full name, Bank Account Number and Branch Code (Proof required – Top of Receipt from fast service machine), Name of Bank and the Branch.
How much does Direct Deposit Cost?
There is no charge for Direct Deposits to members.
Can I set up Direct Deposit to more than one bank?
Yes. TATECO can split your net payment between multiple accounts and/or banks. However the split can only be done by a whole percentage number (for example, between two banks at 95% and 5%); we cannot direct deposit a flat dollar amount.
Who should I contact if I have questions?
You may contact any of the Member Services Representatives.