I have been an USAA wealth management customer for around 10 years. Yesterday I tried to deposit a $49,000 check. I have deposited many checks made out to the same payee without issue, but today I was told that USAA will not be able to deposit my check. Further, they said they sent back to me. At this point my USAA online account shows that the $49,000 check has been deposited, so I am unable to submit the check to another bank. Without an USAA status letter the check will remain un-deposited. USAA has refused to cooperate. USAA's lack of follow through in removing the funds from USAA could prove disastrous if I redeposit the check. This leaves me in the unenviable position of not being able to do anything with my check.
This is just my most recent problem. In the summer of 2012 while traveling overseas I required USAA's assistance with a credit card identity theft issue to no avail. I was unable to protects myself by canceling the card, I was unable to get a usable replacement card, and USAA kept me on the phone for several hours in the middle of the night in Israel. Additionally, I have also had to escalate the handing of several insurance claim matters due to incompetent customer service agents.
I have referred many customers to USAA over the years, but no longer. Both their banking and insurance customer service representatives have not performed consistently and have been unable to provide me with rational explanations for their actions relative to my accounts. With significant assets in investment and bank accounts one would expect I would be treated with their elite level of service, but today I was informed their customers are all treated the same, contrary to what they have been leading me to believe over the past 10 years.
Anyone who wants to be able to reliably depend on the treatment they receive from their bank (and insurance company) should seriously consider going somewhere other than USAA.
I recently received a couple emails from USAA regarding an account trying to access our checking account.
1.) was at first confused, but USAA confirmed that the emails were from them: I thought it was fraud because of obvious misspellings (shows their lack of detail)
2.) Found under "manage accounts", who was trying to access my account fraudulently. I called the fraud alert number from USAA. Spoke first to James.
a.) was disappointed to find out that there is no fraud department for overall accounts, only for debit and credit cards. This fraud was trying to take money from my checking, and USAA does not have a department to combat that!
b.) Further spoke to James, who said that on his end, could not see who was accessing my account, even though I could see it. I told him exactly where to find it under "manage my accounts", but he said he didn't have access to it. Can you believe this? The fraud dept does not have access to who is accessing my account - even though I saw the guy's name and his account number from my end!
c.) Asked James to speak to his manager. 10 minutes later, spoke to Valerie, his manager, who said that she did not have access to the screen I could see the fraudulent access-or of my account. Again, I can see clearly on my end who is trying to access my account, but the manager of the fraud department cannot see it or help me. She only said that she can transfer the info to the fraud alert dept to put my account on alert. I asked her what that entails and she said that she "doesn't know. really reassuring! She then tried to transfer me to the checking dept. and I was hung up on during the transfer. Nice!
This bank has so many issues i don't know where to start. 1) awful online banking experience. 2) ask a question and it will take you 5 tries til they even understand the question you asked them (but don't expect an actual answer at any time). 3) their own online transactions (such as an automatic payment from checking to auto insurance) does not download from the bank to quicken but they can't tell you why, and insist it must be a quicken issue, not a bank issue (it's not). 4) i applied for a credit card with them, and literally before i even activated the card, it had already been compromised and the card used by a thief. To this day no feedback on how this happened or any apology. 5) hmm rude customer service of epic proportions. My atm card stopped working one day. I called in to find out what the issue was, and the lady asked me to read my card info to her. Then she told me that was not my card info that she has on file, and she could not help me until i gave her the correct info! I was so pissed i emailed in a formal complaint, and as it turned out, the info on my card was correct, and magically my atm card started working again. Coincidence? I think not. Is that rude b**** still answering phones at usaa? I would bet money on it.