Holds on Deposits

As many of you have been reporting with increasing regularity, USAA is putting more and more holds on deposits.  I have spoken with them several times about this and told them I wanted NO holds on my deposits.  They have refused.  Instead, they said I could just call and ask the hold be lifted while I was making the deposit.  I keep irregular hours and am often doing finances throughout the night, so that was not going to work for me.  I am a 34-year member of USAA.  Perfect credit.  Never bounced a check. The last straw for me was a $68k deposit into an account that had over $81k in it.  After going through the extended menu to reach a person and waiting on hold for a total of 72 minutes, I was told they would NOT release the funds.  By the way, it was a CASHIER'S CHECK.  It would have to be elevated and they would call me back.  They never did.  USAA says it is to protect them and me from fraud.  It is sad that they think they need protection from me frauding them.  As for me, the only protection I need is FROM USAA.  I am shopping for another bank.

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Smart move to leave USAA.

@Bruce81, I can see you're upset with the deposit hold. We certainly don't want to lose your business.  I've locate your USAA membership and will forward your situation to the appropriate area for further handling. - Ben 

60 hours and counting on a 48-hour hold.  And, as a reminder.  It was a cashier's check, which by definition is a check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier. Cashier's checks are treated as guaranteed funds because the bank, rather than the purchaser, is responsible for paying the amount.

@Bruce81, we appreciate your follow up message and understand you have concerns about the hold placed on your deposit. Your concerns will be forwarded for review. Thank you. - Rhonda 



I hear you about the holds.  I do my banking at my local CU,  To be fair, pretty much all banks put holds on any check deposited in the amount of $10k or more.  In the past, I had a $25k check from Fidelity to deposit.  My CU gave me access to 10% (2500) right away, but I had to wait 10 business days to recieve the rest. If I hadn't gone in person to my CU it would have been an automatic hold on the entire $25k for 10 days.


Recenty I received a 10K check from my father. My CU gave me access to the first 1k right away, but only held the rest for 3 business days.  Each banking institution will be different.