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.
I have been involved with two transactions where the buyers used USAA for their mortgage. Neither closed on time. The latest one we were left hanging for days, no one there could help, and funding at the end was a major problem. Phone calls were not returned. The title agent who has been in the business for 30 years was in total disbelief of the way they do business. They are truly the bottom of the barrow.
Don't use this company's new stock trading or asset management site. Awful. I used it in the past when it was really good, but they've made some terrible changes that make it appear more like a Monopoly game or Chinese Checkers but not a good trading site. Dumb, dumb and dumber comes to mind. Wow, can't grind in this enough. Lost some money too when I moved to another trading site.