I have been a member for over 40 years and considered being a member of USAA as a benefit of having served.  The front office is fine but don't expect to be treated fairly if there is a problem with the back office.


The first cause for concern was when I belately became aware that every month for years USAA returned my retirement check to DFAS.  The attitude was that it was my fault since I should have said something earlier.  Point well taken but that still did not explain why, nothwithstanding my inattention, the back office had rejected my pay checks for years.  I asked USAA to call DFAS to help straighten the matter out but they refused telling me it was completely my problem.


More recently I filled out an IRA distribution form checking the boxes that applied to my IRAs.  USAA accepted the form but neglected to distribuite from a beneficiary IRA.  Again the back office position was that it was all my fault since I failed to comply with a rule not disclosed on the form that you have to fill out a separate form for each IRA.  Again USAA refused to help by writing a letter that I could give the IRS to explain what happened.


The final straw was today, August 26th.  You may have noticed that in the last few days since the recent meltdown the market indexes have risen thru the day only to crater in the last few minutes of trading.  So today I waited until a few minutes to market close to make sure the rally would not crumble to give an online sell order for a USAA mutual fund.  The website directed me to call which I promptly tried to do.  After 15 minutes I was able to talk to an agent who confirmed that the USAA computer system had received my sell order before close but the order would not be processed because my telephone call was received after close.


The bottom line is that I have been paying top dollar in fees for a USAA that no longer exists.  Vanguard charges a small fraction of the USAA fees and the service is first class.  If you are in the military and reading this my advice to you is don't be fooled, USAA has become just another "Wall Street" financial house.


John xxxxxxx


Hi John,


Thank you for your service, we truly do value your 40 year membership and would like to restore your faith in us.


I would like to get someone in contact with you to assist you further in regards to your concerns above. I have passed this along to our bank, someone will be reaching out to you directly. Thank you for your comment in community!


*To protect your personal information, we have removed your full name from this post. Thank you.*

Yes Sir you are correct. They are nothing more than a regular money grubbing bank which uses propaganda to make you believe that there is some kind of military benefit. I urge any military personnel reading this to stay away if you havent already made the mistake of joining. Shop around... There are others who offer a lot better. 



I have acknowledged and responded here to your post. Thank you.