I Can't Have My own Money..Hold on payroll Check are CRAZY its 2015 .....

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Contributor

I made a deposit on 8/10/2015  was not aware that the full amount was placed on hold until 8/18/2015. Once the deposit was made I was held hostage with my onw money. I call to get just portion of my check released so I could at leaste pay my bills. I was told by several custtomer service reps. there was nothing they could do. Three days later I took it upon my self to go to my payroll department got documentation that this check had clreared Bank of America's system and the fund were electonicly sent to USSA on 8/11/2015. I've called back to USAA to give them this information. I was informed that their is nothing they can do to release this hold. 

If its not incovincened enought that their are no branches in my area, that even to talk to some one that can make a decision is next to impossible. 

Its so amazing how when I need to get a insurance qoute it was so conviennt for USAA to transfer me to people that assit me right away with a loan, and same with my mortgage

Done with Banking with this USAA... THIS IS NOT THE WAY TO TREAT VETS OR ANYONE.. 

5 REPLIES

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Its total BS that they are doing this now.  They just sent out a document to everyone last night stating any remote deposits are now going to be held for 7 business days at the very least.  Before they would at least give you $200 of the deposit and hold the rest. But not anymore according to this document.  This is total BS and I would be irate as well.  They are holding your money hostage!  I am not moving all funds out of this account and to my other ones cuz things are getting worse and worse here.

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This is nothing new:

 

USAA: Will the hold on my deposits ever go away? (2010)

 

USAA Deposit@Home holds (2010)

 

Facebook post from 2012

 

Mobile Deposit Funds on Hold (2014)

 

 

 The Depository Agreement and Disclosures states:

 

Remote Deposit Capture and Similar Services The availability periods described in this section do not apply to funds submitted through FSB’s USAA Deposit@Home, USAA Deposit@Mobile, USAA EasyDeposit, other remote check deposit or remote deposit capture services, ACH debit transactions (where FSB drafts funds from (debits) a non-USAA account for deposit into your FSB account), or other similar services. FSB will hold the funds for up to seven business days from the date of deposit. In some instances, funds may be available sooner than seven business days based on such factors as credit worthiness, the length and extent of your relationship with FSB and its affiliates, transaction and experience history, and such other factors as FSB, in its sole discretion, deems relevant.

 

 

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Actually it is new. They used to give you $200 of the deposit and put the rest on hold.  Hence why they sent out emails yesterday stating they changed the policy.

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Actually what was sent out was an update to the Terms, which they updated it to match the Depository Agreement that was last updated in 2014.  In either case there is no mention of releasing $200.00.  Also, if you read some of the complaints over the last year - you will see some that had their whole amount held, and those that has a portion provided.

 

Per the Terms for Deposit@Home and Deposit@Mobile, released 8/8/2015

 

"The availability of these funds matches the terms in the Depository Agreement for your account."

 

From 2009 Terms:

 

"8. Availability of Funds. You agree that items transmitted using the Services are not subject to the funds availability requirements of Federal Reserve Board Regulation CC. Funds deposited using the Services will be available after USAA receives payment for the funds submitted. USAA may make such funds available sooner based on such factors as credit worthiness, the length and extent of your relationship with us, transaction and experience information, and such other factors as USAA, in its sole discretion, deems relevant."

 

Updated to:

 

"8. Availability of Funds. You agree that items transmitted using the Services are not subject to the funds availability requirements of Federal Reserve Board Regulation CC. FSB will hold the funds for up to seven business days from the date of deposit. In some instances, funds may be available sooner than seven business days based on such factors as credit worthiness, the length and extent of your relationship with FSB and its affiliates, transaction and experience history, and such other factors as FSB, in its sole discretion, deems relevant. Generally, if the funds from your deposit will be available later than the time shown above, FSB will mail or deliver the notice as soon as practicable, but no later than the first business day following the day the facts become known to the depositary bank, or the deposit is made, whichever is later"

 

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Dear Curtis,

 

Thank you for posting in the community. I have sent your comments over to over bank for further review.