MyBankTracker rated USAA based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.
Usaa is a large insurance company who claims to serve our nations active and former military and their families. They have had a good reputation in the past however they have adopted the same business practices that have corrupted many other companies. I have been with this company since i was 16 years old which is nearly 30 years ago. Recently i received the harassing phone call of the "you owe us money and we will not stop calling you until you pay us" phone calls that everyone seems to receive despite their credit standings or their diligence to pay on time. I have both home and vehicle insurance with usaa. Without notification usaa raised the rates on my home insurance and took the funding out of the payments made to my auto insurance.
They then told me i had until the end of the month to pay a hundreds of dollars or my auto insurance would be cancelled. This is extortion since they know that it is illegal to drive a vehicle without insurance. Usaa bank is associated with usaa and therefore receives the worst possible rating due to this practice. I recommend that usaa be avoided since this is a substantial violation of customer trust in what a company can do with their customersâ? Accounts and how they extort their customers by placing them in jeopardy of the law. Additionally the downloads to account management software did not work well. They do not provide the names of businesses with credit card with drawls.
Instead they provided business addresses. When 1 and 2 dollar charges were being made it was very difficult to determine if they were legitimate since businesses will frequently check to see if the account is good with a minimum charge then come back and charge the account later. I found the customer service was sometimes very good and they would assist with solving the banking problems. Recently i've found that the insurance is hit or miss. I do not reccomend this bank nor insurance company.
They keep things Simple, I've been a happy member for years. I don't understand how less banks have better banktracker ratings.
I've been banking with USAA for years and never pass up an opportunity to praise them. Great customer service, great rates (on everything but savings accounts), and always a great experience.