09-25-2021, 06:12 PM
Watch out for the limits on any CU account in Hawaii: no billpay over $5K, no co-op transfer over $5K, no direct inbound wire transfers (funds get sent to some kind of mainland "clearinghouse" which then "forwards" the money to Hawaii). No problems with regular ACH transactions though.
It's possible to work around the $5K limit, but my clients couldn't figure out how to pay me with an "indirect" wire transfer, so my primary banking still happens on the mainland, with a local "convenience" account for the occasional in-person transaction.
(Yes, wire transfers are obsolete, but they're still used by some companies with retro accounting departments.)
It's possible to work around the $5K limit, but my clients couldn't figure out how to pay me with an "indirect" wire transfer, so my primary banking still happens on the mainland, with a local "convenience" account for the occasional in-person transaction.
(Yes, wire transfers are obsolete, but they're still used by some companies with retro accounting departments.)