Dear Community, After what I perceive as several years of declining USAA performance and culture, I am finally moved to post on this site. The recent required banking survey I received was the last straw. I submitted the following to the feedback site today. Did others receive this and what was your reaction?
I am deeply disappointed with USAA's decision to require an intrusive survey regarding the sources, amounts and uses of my checking and savings accounts. This information was required without explanation or context. When I called USAA to inquire, I was told that it was part of USAA's "Know Your Customer Initiative." Here is some feedback about knowing this customer: I do not appreciate overly intrusive questions from my banking partner that infringe on my privacy. If you would like to request this information voluntarily, that would be fine but to threaten to lock me out of my mobile app if I don't respond within three logins is coercive. What has happened to USAA's respectful, customer-first approach? You are behaving as though you are the customer's commanding officers. After 20 years of membership, I will begin exploring alternative institutions for my banking and insurance needs today. I believe you owe your customers an apology for this shameful exercise.
@Hiker5, I'm sorry to hear of your disappointment over our service, and your recent experience with our Know Your Customer initiative. It's never our intention to have any of our members feel this way. I appreciate you taking the time to post today. I've elevated your feedback regarding this to the appropriate team. Thank you. ~Holland
I haven't seen this survey but it sounds like so much elite corporate nonsense, like the massive globalist internet corporations who suck every bit of information as possible from their users so they can resale and market it, then banally and disingenuously claim it's so they can "enhance and customize your user experience."
Just another of many reasons to bail out of USA! My husband (37 year member) and I did except for a few necessary banking type accounts, and couldn't be more pleased.
My husband is locked out of his account completely because he won't answer questions that require a search warrant from law enforcement. How much is our net worth? Where does our money come from? All supposedly in the name of Homeland Security.
My husband spoke with a Vice President named Jennifer Gonzalez who lied to him and said this is standard procedure within the banking industry.
We just contacted a bank we have other accounts with and were told that is not true. They are under no obligation to ask these questions.
So USAA its now up yo you to explain why you are holding the account hostage ? Ms. Gonzalez any response? No longer keeping this between us and USAA. Just letting the community know what you're up to. Spying on members? For who?
Talking to our other bank now as their checking/ customer service has been superb.
If any other member refuses to answer these questions or was forced please comment. This is personal information that literally requires a search warrant if it were under law enforcement scrutiny. Also we have direct deposits from every entity so its pretty clear where the money comes from.
@Cate 1, thank you for reaching out and sharing your concerns regarding the Know Your Customer Initiative. I regret to hear that your husband's account has been locked as a result of the questionnaire. This initiative is certainly never intended to cause an inconvenience. This initiative is to ensure USAA remains a compliant company and meets all federal regulations. As part of the USA PATRIOT Act and Bank Secrecy Act (BSA), all banks are required to understand their customers and their intended account activities. Collecting the required customer information ensures compliance with federal laws and regulations. I certainly understand your concerns and your feedback is very important to us. I am escalating your concerns to the appropriate department for further review. - Robyn
I have been locked out of my checking account for many months now. I refuse to again affirm or confirm my account information that has been on file with USAA for over 30 years. USAA has the information. The Feds have the information. They just want me to hang my neck out by signing yet another form. Now I am being threatened by USAA to be locked out of all financial accounts if I don't fill in another "survey". The Feds already know my annual income from my annual tax forms. They do not need to know my net worth. I did not fill in the survey first page so could not see the remaining information that will be demanded. It sounds bad! I have been impressed over the 30 years at how well I was treated as a customer and felt privledged to be a member. I had all my financial, investment and insurance through USAA. The past year has been completely different as if they want me gone. They have sent my investment accounts away already. Is it because of the tremendous TV advertising expense? It appears time for me to move my financial accounts to another firm so I have control over them. Insurance will also go away when they start surveys for that.
@Corpsman4ever, we are saddened to read of your experience with your account. I will engage an account specialist to review this further, Thank you for letting us know of your experience.