I opened a family Trust account in 2019. Easy process and knowledgable people to guide me on the paperwork involved. Recieved a acct update request 3 weeks ago that requested additional information. After a long hold, I was transferred 2 times and learned there is no longer a Trust Dept at USAA and a "DepositiServicing" rep will now help me. I never recieved notice either by mail or online about the disolvement of that dept at USAA. Hughly disappointed. The confidence we had with holding the trust at USAA we no longer have. The Deposit Servicing reps do NOT know anything about trust paperwork nor can give guidence in that area. 3 calls to USAA with long hold times and consistently put on hold while they find an answer to my question does not impress. Inconsistant answers between the reps are infuriating. I was advised to hire a laywer, or look online for guidence for direction concerning beneficiary gualifiers such as life or contingent since the original Trust does not differenciate the terminology. The new forms are sent in and while I wait for them to be posted I am also looking for another holding instiution for the trust. We took all investments to Fidelity and it appears the trust will follow suit. 38 year member here who is done dealing with this incompetence.
@MimiRS, I can certainly understand your frustration. We appreciate your longtime membership and trust in us, and this isn't how we want any of our members to feel. We're always looking for ways to better our services, and I want to ensure your feedback is heard. I've elevated the details you've provided to the appropriate team for review. Thank you for taking the time to post. ~Holland
I sent the requested 12 pages of the update account request paperwork in on April 1. I have since called and asked if the inofrmation was posted to my account and is all in order. The rep said, "it seems to be and if we need anything else we will contact you." It would be nice to have a system in place that was posted to our accounts under the documents area where scanned information can be monitered as recieved, reviewed and posted. For now, I will hope for the best and continue to look for another holding institution.