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 took the bait when USAA sent me a offer of low credit card balance transfers, so I transferred my high rate cards. What I did not know is that after a short promotional period they would treat the balance as a cash advance, big bucks as we all know. I now pay more than before I transferred my balances! . So I asked if I can pay off what they considered "cash advances" separate from my regular credit card balance, NO!!!!
I take full blame for not getting out my microscope to read the entire journal (agreement) but, dammmm!
So, don't buy into all the "we help military personnel and their family's" crap. Your better off with Capitol One or other major credit card companies who don't go waving the American Flag while they give you a financial enema!
USAA was always good until I had to file bankruptcy. I am trying to set up a transfer to a different bank so that I can transfer funds there. This is the third transfer that I've set up with USAA, the first two I did not require documentation and now they have to mail me a paper just for me to send back in for them to do this.
One representative told me it was U.S. Bank that was requiring this documentation and the other representative was telling me that it was USAA. Which is it USAA?
They cut off access to the website because of the bankruptcy and now I can only access it on my cell phone or the mobile site, I have no idea why they would do this?
I love their car insurance but I think their bank sucks!
The only reason I bank with them is so that I can receive my paycheck early. Beware if you bank with them and go through bankruptcy, they will treat you like a redheaded stepchild after that.