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Contributor
So now they put a hold on a cashier check??? Upset because the representatives told us it would be faster and deposited the same day.

8 REPLIES

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Thanks to craigs list, cashier's checks have one of the highest counterfeit rates.  Almost all banks will put a hold on them nowadays.

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Thanks, im just upset that they promised me there wouldn't be a hold when they got it. It got mailed to them.
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Friends, I have one better. I PAID my credit card with CASH at USAA FSB last Friday. It will be on hold until the 16th. When this happens, it just means that USAA does not regard us as "good people". They get very snarky if you have any blemishes on your accounts. When you ask them why they are placing holds on cash payments, thats when they start reviewing your history and telling you in so many words that you are not a good person.

 

I was on the phone for an hour. I talked to two employees and a manager. All three of them insulted me. I mean they were really snarky. Their tone indicated that they couldnt care less if I took my business elsewhere, they are only here for the "good people".

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Dear SoldierVeteranTaxpayer,

I am so very sorrry for the way you were treated when calling about your cash deposit. I can assure you we value your membership and aplolgize profusely for the treatment you recieved. We woudl greatly appreciate the oppurtuniy to learnmore details about your call to ensure something does not happen like this again. If you would, please send us a message here with further details. We look forward to hearning from you.

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Dear ........,

In the depository agreement (which can be found here, page 29 of 54) you can read into the details about cashier checks and the process USAA used to deposit such funds.

 

I apologize for the conflicting information you received when calling about your deposit.

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I too will be leaving this, bank. So they give me 200 today when they received the check, then they'll give me some of it on the 12th and the rest on the 19th. Do they not know how hard it is for us already, now we get payments on our own money. Wow. Disappointed in the people that are supposed to be there for us.
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Dear  ..... ,

I am truly sorry about your situation. We would like to get more details from you and see if anything can be done. We would appreciate you sending us a message here with the best way to contact you, so that we can have a specialist review your accounts. Thank you.

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This is all too true. Recently I deposited a check that was held for 14 days. First I was told the funds hasn't arrived (this was false, issuing back confirmed receipt prior to the phone call). Second, I was told because I have a typically low balance and receive smaller deposits, I don't get quick access to my own funds. The strategy there presumably is to force less wealthy customers to succumbing to overdrafts so the bank can collect. I assume this is standard practice throughout the bank. I've kept my money with another bank but received a direct transfer from a relative and within 8 hours USAA had assessed a $27 fee for a charge that had never registered on the account prior to the deposit. This bank, like all other consumer banks, is clearly engaged in fraudulent fee assessment and speculation on lower value customers, from whom they must collect quite a haul of fees annually. Don't be fooled, USAA is no different than any other commercial bank. The class action settlement is inevitable.