Wire Transfer Completed on January 16, 2020 - Still NOT RELEASED!

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Occasional Contributor

USAA is NOT MEMBER-ORIENTED or MEMBER-FRIENDLY !  

 

A wire transfer initiated from Navy Federal Credit Union on January 16th has STILL NOT posted/released to my account as of today, from the  2 - 3 business days quoted on the 16th, to the 1-3 business days quoted to me this morning, as well as.

 

I understand weekends and a federal holiday are to be taken into account.  However, a Navy Federal representative calls USAA to provide the transmittal number to the USAA representative, USAA still won't release funds.   The funds have CLEARED the Federal Reserve, aka the bank clearing house.  I guess USAA's greed for interest is enough to lose a member.  Poor excuse of a bank and deplorable customer service.  

 

Will NOT recommend USAA to anyone for ANY of their banking, insurance or other financial needs.

10 REPLIES

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@MarMM, We appreciate you sharing your experience with us in our member community. I will be glad to forward your concerns to the appropriate area for review. Thank you. ~ Suzy 

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Thank you Suzy.  However, the fact that USAA is holding my funds and has been doing so since the 16th is UNACCEPTABLE.  USAA's hold is costing me MORE FREAKING MONEY!!!!! Are you all going to give me the interest that you are collecting  on my funds?????  Of course you are not.  Thanking for jerking me around!!!!!  USAA HAS COST ME MORE THAN I COULD EVER RECOUP.  THANK YOU, THANK YOU, THANK YOU.  Perhaps the Federal Reserve needs to investigate USAA some more.  Will more fines cause USAA to be more member focused?

 

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Just finished filing a complaint with the Federal Reserve.  Will gladly forwardng them ALL copies of my chats as well as those chats that NCFU has had with USAA too.

 

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@Suzy.  Not sure if my concerns have been forwarded due to not receiving any follow up with an USAA representative.

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@MarMM, I can confirm your information has been elevated to the appropriate team. I've submitted a follow up request as well. Thank you. ~Holland

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@Holland.  Thank you for your response.  

 

Will the USAA team of which you speak be willing to provide a letter attesting the fact that USAA has held my funds for almost a week? This hold has placed me in an even more precarious situation.

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It has now come to the point that Navy Federal Credit Union is launching its own investigation into my situation to include following up with the clearing house as well as further creating an already exhaustive paper trail to include both of our chat records and calls.  

 

USAA ought to be ashamed of itself, continuing to hold funds hostage and further inflicting more aggrevation , added costs and undue stress on its members.  Looking forward to my new banking experience with a more customer/member friendly financial institution.  I would really hate to see what happens with international wire transfers.  All of this for a "regular funds" wire transfer that happened almost a week ago tomorrow.   Was it worth it USAA?  It hasn't been for me...My money STILL has not been released to me.


Great job USAA.  You continue to lose customers.  Way to go!!!!!

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Google USAA and Better Business Bureau - file a complaint there also

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@NSueZ...thank you and I will. 

As of this morning, still no funds have been released.  Keep getting the run around from the MSRs on chat's.  Scripted terminology is their norm.