Suddenly Holds on Deposits

[Kap]

I've been banking at USAA for decades and never had a problem with holds on deposits.

My accounts have not been overdrawn; the larger checks I deposit are from the same sources monthly, and no check I have ever deposited has ever been bounced or refused.

Yesterday, one-week holds were put on two of these checks that were deposited to two different checking accounts.

I called USAA and very nice Rep told me that this was policy in "Depository Agreement" and they could make one one-time exception.

(When a company suddenly refers you to the 6 point type in the Depository Agreement, you know it's not good news...)

When I asked why, after many years, the sudden change for no apparent reason, there was no answer.

This is a large inconvience -- I have payments scheduled to be paid that conflict with the new hold.

And I'm extremely disappointed that there is a sudden change in rules/behavior (if not policy) at USAA. For the first time, it makes me think it may be time bank locally.

Am I the only one?

[USAA Social Service]

Hello @Kap and I'm sorry to hear of this experience you had with us using the Deposit@Mobile feature. I understand the deposit hold can be frustrating. Per the USAA Depository Agreement, any deposits that are made into an account using Deposit@Home or Deposit@Mobile are subject to a hold. When using the Deposit@Mobile feature, there is a notice that advises you of a hold. We use holds to protect our members, it gives us time to confirm that the funds are collected. For future transactions, you can make deposits without a hold by using direct deposit, cash advances or wire transfers. These options allow us to confirm the funds are collected instantly. I have located your information and will engage a specialist to review the details. Thank you for speaking up today. ~Sarah 

[Car0linaGir1]

No You are not.

I just did a mobile deposit 11/20/20 with no issues.

I did one on Friday 12/4/20 and they are holding over half my deposit for 7 days!!!

I called Friday spoke to a CSR who said she couldn't help with out seeing the deposit - so I went ahead and completed the deposit. She then tells me she can't help. I asked for a Supervisor Cattrell who was more interested in qualifying me for a personal loan than helping release the  hold. His advice was to call back Saturday.

Called back Saturday, spoke to Hope(really nice) who transferred me to Escalations team Jakeshia. She explained all of the policies surrounding why the hold may have been placed, none of which applied to me. Finally she said, they can't over ride a mobile deposit hold. I have bills that aren't going to get paid including my rent. She didn't care. I offered to conference in the issuing bank, she said no. She didn't care.

But they say if you're experiencing a hardship let them know...They have created a hardship.

I have never had an issue with USAA of any kind until now - Unbelievable!!

[USAA Social Service]

@Car0linaGirl1, we can certainly understand the frustration with the deposit holds.  We will ensure the appropriate area reviewed your post. We appreciate you letting us know of your experience. 

[Freezinorth66]

Sadly you aren't the only one. On December 2 nd USAA received a direct deposit to my account for 2400. They took out some fees and mailed me the balance in a check. I'm living in Fairbanks Ak and there was no where that would cash a JP Morgan check. So what did I do ...I mobilely uploaded it to my savings. At that time they informed me that 1000 would be available to me . Well by the time I ordered an ATM card and linked an external account to transfer to the whole check was in hold. Keep in mind that the check is their own check not a random check I have spoken with many kind representatives regarding this. Now the hold time and the date they are supposed to release the hold gets pushed farther off . On the 12 the I received a notification that the hold was released. Then I found out the whole amount was placed on another hold. And it's Christmas nobody can explain why. I'm literally at my wit's end with this. I hope they are aware of what they are doing to members and their families. How I'll explain no christmas to my grandkids is beyond me. Maybe I'll have them call the member service center and they can explain.

[USAA Social Service]

Hello @Freezinorth66, The majority of deposits are available immediately. However, like all banks, USAA Bank sometimes puts a hold on a member’s deposit. This temporary hold protects the member and the Bank from the growing threat of fraud. These holds can vary in length. In many situations, a hold can be avoided through use of direct deposit instead of depositing a paper check. I understand the seriousness of the situation. I have located your information and will engage a specialist to review the details. Thank you for speaking up today. ~Sarah