Pentagon Federal Credit Union offers the service to the military affiliate members and other government employees. If you are a member of that any group then you can easily join the PenFed credit union and enjoy their various banking services such as online savings, loans, money market certificates, credit card, and more.
The members of the Penfed can also withdraw money or funds which they have deposited in their account. If you want to get money out of Pentagon federal credit union then you must visit the official website of the PenFed. After that login to your bank account and select the Transfers option. Next, click on the check withdrawal option and type the amount. Next, choose your account and submit your transaction.
If you are not a member of the PenFed or you haven’t access the online service of the PenFed then you have to use the paper check to transfer your money or withdraw it from your saving account.
Now, let’s move to the step-by-step procedure to withdraw funds from Pentagon Federal Credit Union.
PenFed Credit Union Review
Pentagon Federal Credit Union which is also known as “PenFed” offers financial services. It’s headquarter is located in McLean, Virginia which is the third-largest federal credit union in the nation.
It basically server military background people or government employees such as Air Force, Coast Guard, Department of Homeland Security, Department of Defense, Defense-related companies, and Veterans of Foreign Wars and their families. So, if you are from any of these backgrounds then you can join the PenFed and enjoy its service.
PenFed offers various services such as Saving account, consumer loans, mortgages, credit cards, investment, ATM’s, online banking.
You can get the mobile app of PenFed so that you can access it all the services that pentagon federal provides to its users. It also helps you to find nearby ATMs, set up travel notifications for your PenFed credit card.
Things to Know Before Withdraw Money from PenFed
There are certain things thatthat you should know before the transfer or withdrawing money from Pentagon federal credit union. Take a look to the following few important things which is mentioned below.
- You must become a member of the Pentagon Federal Credit Union in order to access it online service.
- You must have a minimum check amount in your account which is $5.00.
- PenFed will send you the official checks in one business day after your request for withdrawing.
- The official checks are only valid for 180 days.
How to Withdraw Money from PenFed?
You can easily take money out from your PenFed credit Union account after you made a request. The check will reach you to the provided address while submitting the check withdrawal request through an online medium.
But you must remember that you need to join the PenFed credit union if you want to access its service. If you are not from a military or government background then you can’t use or apply for Pentagon federal credit union. Normal citizens are not allowed to join PenFed Union.
After you’ve joined the PenFed then you have to create an online account on official site of Pentagon Federal Credit Union. Once your PenFed online account is successfully accepted then now you have to follow the following procedure to withdraw money from the Pentagon Federal credit union.
Open Browser
You can open the browser in your device or laptop whichever you are using right now. It can be either chrome, safari, firefox, opera, and others.
Visit PenFed Site
Now, go to the search bar of your browser and type penfed.org. It will take you to the official website of the Pentagon Federal Credit Union. There, you can join PenFed or apply for an online account or learn about its other various services and locations.
Click on Login
Once you are on the main page of the PenFed website then click on the Login button from the upper right corner of the screen.
Type Username
Now, type the Username which you’ve used while creating an online account on PenFed credit union. If you don’t remember your login credentials then you can simply tap on “I need help logging in” option just below the login button and there select the “Forgot Username” or “Forgot Password.”
In case you’ve forgotten both then you can select “Forgot Username and Password.” After that, provide your social security number or ITIN and follow the further process to get your PenFed online username and password back.
Select Login
After providing your Username of PenFed online account then click on Login button to access your account.
Click on Transfers Tab
Now, select the Transfer tab from the main page from top side.
Select Check Withdrawal
Next, click on the Check Withdrawal option just below the Transfer tab. It will redirect you to the new page on where you can actually apply or request for the check withdrawal of PenFed.
Enter the Amount
After following the above step, now you’ve to enter the total amount which you want to withdraw from your PenFed account. But just remember that it shouldn’t be less than $5; otherwise, you can’t get the check.
Choose the Account
Now, select the account from where you can get money out from your PenFed account. If you’ve multiple accounts then you have to choose the right one saving account.
Click on Continue
After selecting the account then click on the Continue option for the further step to withdraw fund from your PenFed online account.
Select Submit
Finally, review the transaction details, and if everything is correct or you’ve entered the correct details and amount which you want to withdraw then click on Submit button to request the check withdrawal.
Also Read: What Happens When You Make a Minimum Payment of Your Credit Card?
How Much Fund You Can Withdraw from PenFed?
If you’ve a saving account on PenFed then you can withdraw $1000 in ATM using your debit card and $ 2.500 for the point of sale transaction.
Conclusion
PenFed provides a wide range of banking and credit card services for people who are from military backgrounds and the government. You can easily save and withdraw money, use the PenFed money market certificate, request for a loan, earn interest, access to 85,000 free ATM’s and also acquire good APY (Annual Percentage Yield).
So, if you have a saving account on PenFed then follow the above-mentioned steps to withdraw money from Pentagon federal credit union.
If you have any queries related to PenFed then ask them in the comment section down below.
