Thank you for taking the time to comment. I have sent your comment over to a deposit expert for further review. They will be in touch with you personally. Thank you again for sharing your experience and for your membership.
It's untrue that your checks were held for no reason. There are perfectly valid reasons why checks deposited with Deposit @ Mobile (RDC) are held.
That you didn't read the Terms and Conditions of your account is not USAA's fault. It's also irrelevant whether or not credit unions place holds on checks. To set the record straight, many credit unions and most banks do place holds on RDC. On top of that, most banks and credit unions give absurdly low RDC limits. For example, Bank of America's standard limit is a whopping $2500 per month. USAA allows $5,000 per day and often up to $10,000 per day.
Why does USAA place holds on checks? It's probably because banking regulators pressure them to. Of course you don't know that the Federal Reserve encourages banks to treat RDC transactions as 90-day+ unsecured loans. RDC is fraught with fraud. Not one single bank employee views the check you deposit. Nobody verifies the security aspects of the check, let along signatures and account holder data. All there is for a machine to read is the routing number and account number and, at times, check amount. A monkey can scribble a routing number, account number and dollar amount on a banana peel and use RDC to deposit it.
While the check clears in one to three days, the owner of the account details that the monkey scribbled on the banana peel might not notice the money missing from their account for months.
RDC holds are here to stay. Folks need to start getting used to them. Or start mailing in your checks or move to San Antonio.
No, I'm not going to pay your bills. Your finances are your problem. I'm simply pointing out that RDC is risky for banks and unless you are banking at a corner bank / credit union, you'd better start getting used to the holds.
Not eveybody has has the luxury of finding a local bank where they live. You are lucky.
I can agree that there is no excuse whatsoever for poor customer service. Nobody should be treated badly. While I've never (knock on wood) been treated badly by USAA, if you have then you should not tolerate it.
Whatever representative told you the hold was due to the check being $200 more than usual is just guessing. I have yet to find a CSR that understands RDC issues. Even so, the holds are decided virtually always by an automated process. What's a sure way to avoid holds? Have $100k average daily balance, lots of credit with USAA and be a long-time member. Since most of us can't do that, more and more people will be seeing holds. Frankly, I'm surprised they don't hold more checks than they do.
Seriously, it isn't much exaggeration when I said a monkey can deposit a banana peel with RDC and run away with at least $30,000 (but probably $100,000) before anybody knows what happened. Now I'm sure you aren't a monkey and I'm equally sure (going out on a limb here) hit are a very honest and upright individual. But what it you are depositing a cashier's check given to you by a little old lady from Nigeria? You might not even know the old hag is scamming you for months. USAA takes the $20,000 hit because you can't pay it back. It happens. It happens A LOT.
Since no human sees the check you deposit, the computer just looks at your profile and decides if there's a hold.