I have an individual account with Fidelity.com and a checking account with a federal credit union. I found that when I login my Fidelity online account, I can specify to transfer money from or to my credit union checking account. But when I login my credit union online account, I cannot find such a feature for transferring money out and in.
I wonder generally, what kinds of financial institutions can initiate money transfer from and out of their customers' accounts to other accounts at other financial institutions? Or,what qualifies a financial institution to be able to do so?
What kinds of financial institutions can be the passive side of such money transfer? (passive side as opposed to initiating side).
Thanks and regards!