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Regular Contributor
I work for the United States Postal Service. USAA gives us prepaid deposit envelopes that say "priority mail." In any case, "priority mail" is a 2 - day service provided USPS. However, USAA is using these "priority mail" envelopes that takes 7-10 days (snail mail). 1st class mail is 3-5 days. Are you serious?
Additionally, I mailed a money order to myself, dated 03/16/2015. The funds finally arrived today 03/24/2015. USAA placed a hold on my money until 04/02/2015 they say because of NSFs. They treated my money order (guaranteed funds) like a check. Money orders normally have a 24-48 hr waiting period before they can be cashed. Given the fact that my money order was purchased 3/16 and just arriving today 3/24, I would say my funds should be immediately available. Treating my accounted for and guaranteed funds and treating it like a check is not how you keep me as a member!!!

17 REPLIES

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I haven't had to send a check in via US Mail in a while, are these really Priority Mail Envelopes?  Also, I don't see anywhere that the post office guarantees 2 day delivery.  In my experience, 3 to 5 days has been more the norm from the postal system lately unless you pay for express service.

 

As for funds availability, that is governed by two things, the first being Regulation CC and the other is the Depository Agreement and Disclosure (DAD) that you agreed to when you opened your account (basically a standard for any banking institution).  

 

It would appear based on your statement about NSFs, that USAA is placing your funds on hold in accordance with the DAD because of "One or more of your accounts has been overdrawn repeatedly in the last six months."

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Our new "priority express" comes with a free tracking number. This has been in effect over a year and a half now. My account is not new (had it for a number of years) and this is the 1st time I've ever had a hold, even with NSFs. When the funds are there, I'm covered. Again, I have funds from VA and USPS constantly going in. Again, treating a money order like a check and money (only $300 not $300 million) materializing after 3 weeks is highly unacceptable for any financial institution. Even if it were a check from start to finish. 

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"Our new "priority express" comes with a free tracking number."

 

So you are saying that the USAA deposit envelopes have a tracking number?  Then you know when it was received, therefore, you would probably have a case to ask them to re-evaluate the deposit.

 

"Again, treating a money order like a check and money (only $300 not $300 million) materializing after 3 weeks is highly unacceptable for any financial institution."

 

The are treating it like a deposit.  Whether it is a check, money order, or ACH it is a deposit.

 

"Further, all of my monies are direct deposited. I have, in the past mailed money to be deposited and it didn't take this long. You're confusing two situations. 1.) The mail to appearing in your account process and 2.) Whether you comprehend this or not, treating a money order like a check."

 

Not exactly sure what your trying to say here.  If you read the DAD, electronic deposits are not normally subject to holds (though can be if they suspect fraud), other types are and can be if your account history justifies it.  

 

What is comes down to is because of your account history, they are placing a hold on some of your deposits to protect the interest of the Bank and their  You may not like it, but federal law gives them that right and you agreed to it when you joined USAA.

 

 

 

 

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1. These are old envelopes. And yes our priority has tracking. Even the old priority is 2-3 days (not guaranteed) 1st class mail -letter w/.49 cent stamp 3-5 days (not guaranteed). They are using priority mail "Bulk Business" envelopes. Bulk business is 3rd class mail (snail mail) or as we say. "Slow boat to China" with a priority mail acknowledgement.

2. No sir/ma'am. Deposits have different classifications. Try again. Anyone who worked in the industry knows financial institutions are governed by federal law, the Comptroller of the Currency, and such. Latitude allows firms to differentiate practices from firm to firm.

3. You don't understand. Because, you're on the clock with an employee manual, paid to respond, and shouldn't be on this forum. 

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"Also, in your statement, "It would appear." It would also appear that you're not educating me financial services practices. You, in fact, sound like a USAA plant. And that's unfortunate to do that on a community blog. I've seen many companies stick plants in on blog posts to challenge customer complaints. That is a very sad display. "

 

If you want to play the supposition game - then we could say your just a plant for BoA! ;)

 

In fact, I participate in this Member Community forum because I am a big fan of USAA and enjoy learning, sharing and discussing financial/Banking/Insurance matters.  I actually joined USAA late in life and have enjoyed the great products and services they provide.

 

I do not work for USAA, but in fact retired after 20 years with the Air Force, spent a few years working Consumer Relations for a large Internet travel company and for the last 15 years working as civilian employee of the USAF.

 

1. These are old envelopes. And yes our priority has tracking. Even the old priority is 2-3 days (not guaranteed) 1st class mail -letter w/.49 cent stamp 3-5 days (not guaranteed). They are using priority mail "Bulk Business" envelopes. Bulk business is 3rd class mail (snail mail) or as we say. "Slow boat to China" with a priority mail acknowledgement.

 

So you do or don't know when it was received by USAA?

 

"2. No sir/ma'am. Deposits have different classifications. Try again. Anyone who worked in the industry knows financial institutions are governed by federal law, the Comptroller of the Currency, and such. Latitude allows firms to differentiate practices from firm to firm."

 

Your point being?  I linked the federal law (Regulation CC) and the banks Depository Agreement and Disclosure in my first post.

 

"You don't understand. Because, you're on the clock with an employee manual, paid to respond, and shouldn't be on this forum."

 

This line basically just blows any creditability you had left!

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You're talking about blown credibility and supposition? "I'm a fan of USAA" is really a joke of a defense for your long diatribe. As far as ackowledgement of receiving funds, only when they were realized in my account after 7-10 days and not materialized in accessibility. USAA had no problem getting these inaccessible funds off the top for themselves super fan. For your appetite for bogus BofA claims, I and many received class action settlement checks from BofA, JPMorganChase, and Capital One for these account scams. Smaller financial institutions, community banks, and credit unions think the feds will never look into their practices. Because, these smaller institutions think the feds are too busy on the big banks hiney. You make no sense as a "fan." I also agreed with you about federal regulations. I guess the Comptroller of the Currency statement didn't grab your attention. Talk about lost credibility. Give it a rest. 

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"You're talking about blown credibility and supposition? "I'm a fan of USAA" is really a joke of a defense for your long diatribe."

 

You've definitely got the argumentum ad hominem down pat!

 

 

"As far as ackowledgement of receiving funds, only when they were realized in my account after 7-10 days and not materialized in accessibility."

 

So then it is possible that it was not received by USAA for 7-10 days?

 

"USAA had no problem getting these inaccessible funds off the top for themselves super fan."

 

Their motive being?

 

"For your appetite for bogus BofA claims, I and many received class action settlement checks from BofA, JPMorganChase, and Capital One for these account scams."

 

I got my $10.00 check too!

 

 

"Smaller financial institutions, community banks, and credit unions think the feds will never look into their practices. Because, these smaller institutions think the feds are too busy on the big banks hiney. You make no sense as a "fan."

 

There is a big difference between the larger institutions and USAA.  Let me see if you can guess what that is.

 

"I also agreed with you about federal regulations. I guess the Comptroller of the Currency statement didn't grab your attention. Talk about lost credibility. Give it a rest. "

 

Okay the point of number 2 was you were agreeing me?  I would never had guessed.

 

Well if you really feel USAA has wronged you, then I recommend you file a complaint with the Comptroller of Currency.  Don't be surprised if the response isn't close to what I linked to in my first post.

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Glad to you've picked up a new career post retirement; trolling and harassing. Find something better to do. 

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Also, in your statement, "It would appear." It would also appear that you're not educating me financial services practices. You, in fact, sound like a USAA plant. And that's unfortunate to do that on a community blog. I've seen many companies stick plants in on blog posts to challenge customer complaints. That is a very sad display.