check hold

[pjpope]

I was doing deposits mobily and was tired of 50% of my check being on hold. So yesterday I depoisit 1000$ at the ups store and now usaa is holding 90% of it till next week. I love paycheck to paycheck and someone tacking on another week just makes my life even harder. This is the 2nd time I've said something and all usaa will do now is call me and apologizes for the inconvenience. Usaa is screwing over memebers who they claim to be helping .Once again I wouldn't recommend this bank to anyone and they should feel ashamed for saying they're here for Vets .

[Briana Hartzell USAA]

Hi pjpope,

Thank you for your comment.

The holds placed by USAA are done so as means of protecting our members and USAA Bank from fraud and loss. During this time, USAA will confirm the funds are good and make the funds available after the hold timeframe. This is a common practice among financial institutions.

The best option to avoid deposit holds is the use of direct deposit from a payroll provider or wire transfers from another bank. USAA accepts direct deposit from your payroll provider at no cost. If you are depositing a check or transferring funds from an external bank, you can utilize a wire transfer, which is not subject to holds. USAA also does not charge you for incoming wire transfers.

That being said, please contact one of our bank specialists at 1800-531-USAA (8722) to determine the reason for your specific hold and to discuss options for the future. Thank you again for posting.

[livelife]

if you just search "check hold" you can see how many lives USAA damages with their practices. I wish i could withdraw from this bank with all other members at the same time!

[FullBird]

Obviously you don't really understand mobile check deposits or deposits at the UPS Store very well. Any check deposit that doesn't go through the actual hands of a USAA employee is eligible for extended hold times. UPS Store employees are not USAA employees.

USAA employees are trained to examine checks and notice the presence / absence of check security features. They can detect altered checks. They can visually verify check amounts and checking account holder details. Hence, these items have shorter hold times per Regulation CC.

Deposits that don't go through a USAA employee are not covered by Regulation CC and can be held per the account Terms and Conditions. These deposits are very risks for the bank and banking regulators constantly harp about how they are the equivalent of 90-day unsecured loans for the depositor.

Mobile deposits are little better than random numbers written on a banana peel. Unless you have really good credit with USAA and a very robust banking relationship, you might want to get used to holds.