Youth Checking - you can't even buy from a USAA partner (Coinbase) without having some kind of hassle

Occasional Contributor

Guess what USAA did today? They shut down one of my checking accounts because we made a purchase with Coinbase that they viewed as fradulent. They even called me to verify it wasn't a fraud but the account is still shut down. And no one at USAA could or would help me. I was on the phone with two individuals who saiid that it would be days before it would be accessible again.


This is the most insane situation I've ever encountered. I am at my wits end about USAA banking - this is the fifth problem that I've run into with this new checking (incorrect online deposits, USAA trying to text my home phone, extended holds on checks from my mother's USAA account, a 30+ yr member) and I'm literally moments away from shutting down all of my accounts because of this frustration.


Imagine if you made a purchase with a legitimate firm and even though the bank itself recognizes the firm as legitimate, they shut down your bank account for 3+ days. This wouldn't happen with my other checking accounts (Schwab Bank, BB&T).




Thank you for your additional post, SMOB. This issue is important to us, and we want to further assist. I have located your information and am engaging a specialist to review your concerns further. Thank you for reaching out. -Meredith

I appreciate it, but the person on the phone said that the fraud team had no direct line and couldn't be reached. I have to call back on Monday. I understand the position of the person on the other end of the line, who was absolutely doing her best, but she has no power and USAA has no weekend escalation process to resolve and unlock my account.


This is just a youth account, but if BB&T or Schwab had a fraud concern, they surely wouldn't shut off my account. They'd call me to verify and there was a concern, they'd shut off my card and send me a new one. That would be reasonable. Not only did USAA shut down the account, but they did it because I made a purchase with a USAA-endorsed company, Coinbase.

Oh and on top of it, Coinbase shut down my investment account with them. Because they felt I was fraudulent. Because USAA can't possibly handle fraud issues in a normal manner. Like a normal bank. On the weekends.

File a complaint with the Comptroller of the Currency. They govern banks and if there is mishandling that impacts you you have options. You will get a very basic form letter response from USAA (the response from USAA was a completely lie and I had documentation to prove it) and a fifth grader had better composition skills than the usaa representative that responded. At least the complaints are documented and USAA is required to respond and acknowledge you. It's sad it takes a complaint to obligate USAA to respond to customers

Thanks, I appreciate it. Nothing has happened - it's Sunday, of course, and I was already told that you can't expect anything to happen at USAA on the weekend. I'll be calling in for a status tomorrow morning at 9am and will get a status update then. 

Just talked with a rep who gave me information but really wasn't listening to what I was saying. Basically, even though plenty of my other accounts don't have this problem (Schwab, BBT, several others), USAA will continue to be ultra convservative about my purchases and may do the same thing again. It's amazing - I bring up the facts about the situation and the USAA rep basically brought up things that I've never heard of (oh you have to be at least two weeks in, this is a new account even though the check has gone through and was from another USAA member, it's Coinbase's fault, it's your fault, you only have this one checking accoutn even though you have a Credit card, Auto Insurance, two investment accounts, it doesn't matter that Coinbase is a partner, etc.). I also felt like I was given the least helpful person possible to muscle me into submission. 


In the end, I have to potentially wait 3-5 business days from last Friday night, so in my estimation it could go as far as next Friday. Who knows, maybe even Monday? 


I know that this social media site is for nonsense - some "transparency" that USAA is trying to impart so we don't go to twitter or FB and out them in a big way. But I will say that this has totally left me on the brink of leaving USAA altogether. This has been a terrible experience and all it says to me is that USAA doesn't want my business.