membersinceFeb1988
Occasional Contributor

I have been a USAA member for the past 30 years and will be moving my banking and insurance to other companies due to your poor fraud protection. If you do a google search on USAA and fraud you will see that I am one of many who are leaving USAA due to poor customer service and fraud resolution.

 

On June 7 my computer was hacked via a public wi-fi and someone was able to go into my USAA account and set up 2 transactions via bill pay. They moved over $10,000 out of my account to Wells Fargo and Bank of America – accounts I have no association with. I was travelling and discovered this only because USAA had put an alert on my account and we could not use the mobile app. The placement of a hold on my account by USAA is an admission of fraud on their end yet they continue to reimburse me.

 

I called within 24 hours after being unable to use the mobile app and talked to someone in your fraud division. We increased security and I identified the 2 fraudulent charges. After numerous hours on the phone I have yet to be reimbursed and Iwas told that I was responsible for the charges since the hacker used my IP address. The team failed to investigate further  and have not contacted the receiving institutions. They want me to provide proof it wasnt me?!

 

I have been unable to reach anyone from your financial crimes department making the decision on my case but instead have to go through your “executive resolution team.” I have spent numerous hours on the phone trying to get some resolution. I get the run around every time.

 

I have over $100,000 in USAA and am moving it since this too is vulnerable as you will not provide fraud protection. I have had automobile and home insurance with you for the past 30 years and will be moving that as well.

 

Good riddance. As a service member I feel violated by your company.

7 REPLIES

Hello @membersinceFeb1988, we have responded to your previous message. Please review at your convenience. Thank you. -Emily

Show me the money

Interesting, they gave me the same "IP" story a few hours ago, FRAUD issue for me as well.  I'm glad I found your post.

 

I have an Attorney going through these complaints.  I'm flabbergasted, USAA uses the same "excuses" quite often!

I had an eerily similar situation. I am going to post about it separately.

After being a member for 40 years, I am calling it quits with USAA. Your Fraud team is incompetent and royaly screwed up in a big way. Instead of resolving our issue quickly they dragged it out and lost all opportunities to recover lost funds. I am ending a 40 year long relationship which obviously does not matter to Mr. Parker. The loss of my family's business to this organization will cost USAA way more than the compensation for our loss due to their lack of due diligence. If you have any concerns about the security of your saving you better find another bank. They just don't care and refuse to give a reaon why. To bad the Board of Directors do not read this blog. If they did, Mr. Parker would be on is way out.

@findemail, I'm saddened to learn that you plan to leave USAA, especially after 40 years of membership. We value your membership and would hate to lose your business. I'm sharing your post with the appropriate team for review. ~DC

No you don't care, I have already tried to speak to somebody whose job it was to care and guess what; they didnt. USAA's reputation is going down fast and your misleading commercials are just that. Wake up and fix your mess! I'm not alone. You may want to consider sticking with insurance and getting out of the banking business because you have terrible customer service and amature security investigators. And by the way I'm dropping your insurance also eventough it was pretty good.... but I can't justify giving you anymore of my money just so your idiotic security division can mishandle it.