Spoke with office of CEO today USAA suddenly retro holding funds after they cleared some 3 weeks back

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Occasional Contributor

Let me make this short and to the point.

 

10+ year member / good standing / many USAA products

no unusual activity on my part - same as its been for over a decade.

 

on December 9th 2019 the system decided to flag and hold money that had already cleared $9000.00 to be exact.

I have no idea how they went back in time to place these holds (even the statement that closed that same date shows the transfers and the credits.

 

(when these deposits were made all funds were available immediately ((this is standard for how USAA has worked for me for years)) yet somehow the funds now have holds on them, after speaking with executive resolutions there seemed to be some going back and forth and confusion and even double talk, however was told the funds are FLAGGED for return.

Explained to them and swore under pentaly of purjury on their recorded line that the funds had left and were gone from the other 2 institutions one as far back as Nov 23.) so when I look on the USAA site it has differnt hold times for the various deposits (stating they will be avilable on such and such dates) and clearly all of the money made it to USAA via ACH transfers with the last one being approx a week ago that it was removed from the other bank.

 

To make these worse the money transfered from USAA checking account #01 to USAA checking account #02 was also affected.

Spoke with the office of the CEO today and was told it could possibly be a glitch after speaking with executive resolutions.

 

To make things worse we're missing the $9000.00 dollars, - to make things very very clear the money was transfered from 1 national bank and 1 credit union both of which show the money was transfered to USAA one as far back as November 23 2019.

 

So how does a bank go back in time like this? everyone wants to know including the office of the comptroller of currency.

 

We asked / pleaded if they could contact the other financial institutions to see that the money had left and gone to USAA / all of it, the most recent being Dec 5th 2019, USAA's answer (we don't do that and banks don't do that type of stuff much any longer) - Actually I held my ground because as we all know banks still do this.

 

SUpposedly someone from the office of the CEO will be contacting me within 24-48 hours (that's way way too long even 24 hrs is a unacceptable by any reasonable standards)

 

So make things worse if you can imagine - numberous items were returned (payments to other creditors / bills / etc) so thanks to USAA my financial well being has literally been severely jeapordized and the other creditors  - I have over 1/2 of dozen returned payments (which are as bad if not worse than missed payments - many creditors do not like this at all, they will close accounts, cut limits, rate jack, and do all sorts of neat things when  payments are returned let alone the returned payment fee)

 

USAA has serious issues with their software and or / untrained or unqualified staff,  I see the commericals constantly now from the science channel to amazon ads, evidently bringing in flesh prey is more important than taking care of the long time existing customers. 

 

USAA is becoming predatory and isn't the same company it used to be.

 

I'll let you all know what happens.

 

 

8 REPLIES

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@SomeDude, thank you for reaching out to us regarding your concerns. I located your information and confirmed your concerns have been forwarded to the appropriate team for review. Please be assured you will be contacted once we've had an opportunity to review this matter further. We appreciate your time and thank you in advance for allowing us to review further. Tricia

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Don't hold your breath, the same CEO's office has been giving me the run around for more than a year on my issue....and finally sent me a standard "there's nothing we can do" close out letter. When specifically that's not what I asked for.
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UPDATE

 

As of Yesterday all checking and savings products became unclocked (this is progress certainly and why were they locked up in the first place though.????)

 

The 4 seperate funds on hold items have disappeared completely AS WELL AS EXACTLY $9000.00 that was moved from the 2 other banks, i'm working with them to have them provide me immediate letters stating that said "MISSING MONEY" was infact transfrerred to USAA $4500.00 of which back on November 21st 2019. (I said 11-23-19 above so this is a correction)

 

Meanwhile there have been 8 REVERSALS FOR NON-SUFFICIENT FUNDS over this glitch or internal USAA employee theft from our account. Whats strange is the account shows a positive balance after the recersals of nearly $5k yet $200 payments are being sent back with and with an overdraft account tied to the account no less with a $60.000 dollar limit. Thats correct you heard right $60.000 dollar limit on one of my USAA Credit products (which hasn't been affected) with plenty of available credit to cover any (even erroneous bank errors or overdrafts) the more and more I read I'm starting to think these people at USAA are nuts.

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@SomeDude, Thank you for reaching out with an update. I will forward this to the appropriate area to be added to the current review. Thank you . ~ Suzy

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I’m not sure what’s worse. All the “automatic” BS USAA suddenly can do nothing about that ruins military families or calls from the “office of the CEO” where they tell loyal customers how sorry they are because they can do nothing. I just had a $9,000 problem with them too. What a coincidence.
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@ForgottenSoldier, we have responded to your previous message, please review at your convenience. -Emily 

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I can go one better.  I transferred a USAA credit card conveience check and they put a hold on it for a week.  I have been with this company for almost 50 years and they still did this.  This is NOT the company I once dealt with.  When asked why various aspects of this happened they couldn't answer the question for days and when they did the answer was not acceptable!

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Wow my post was about the same issue today and they just hung up on me .....