Cabel
Occasional Contributor
Usaa has begun holding deposits for many arbitrary undisclosed reasons. I have been a member for many years and my insurance has generally been great except that the premiums continue to escalate....but my experience with the bank has been frustrating and increasingly a hardship.... I have made deposits and still had checks returned. Holds have been placed that have constantly changing release dates. Contacting the financial institutions to verify that the deoosited check has cleared not only does not release the money but caused an additional 4 day hold on one deposit. Several times my payments were returned and a return fee was charged when there was an adequate amount of funds in my account to cover the payment. There are never any realistic explanations for these actions. Lately I have had charges for purchases withdraw the same amount 3 to 4 times with the same receipt number. And if you make 2 or more purchases in the same day for large amounts they freeze your card requiring a phone call to release your card for every purchase for the next 48 hours. Rather alarming that you csnnot have access to yiur oen money. And when my employer changed payroll services they held my direct deposit for 3 days.

7 REPLIES

Cabel,

Thank you for your comment regarding holds being placed on your account. Due to the nature of your post, a service specialist would be in the best position to address your concern. As such, we ask that you please click here to provide us with additional detail and your member information. You can also reach a service specialist at 1-800-531-8722

I had the same problems over a year ago with USAA.  I stopped using their checking and savings account since they were indiscriminately holding my deposits for no reason.  They even went to hold my payroll checks that went thru their system for many payroll cycles for no reason whatsoever.  That is when I decided to change.   So I went to Chase and they give me free everything including free money orders and free bank services for veterans.  All I had to show was my DD214 for verification.  I get free business, personal checking and all their services for free.   I am not trying to sway USAA veterans to switch banks, but I have not had one problem with Chase at all since I switched and I they treat you personally with respect and dignity.

 

I keep my USAA account since the insurance is comparable to many other insurances but I am a veteran and keep USAA for that purpose.  I have opened a investment account with USAA and am monitoring its activities to decide if I want to put more funds in it. 

 

So this is my story and nothing but the truth so help me God. 

Thank you for that information.  I am definitely going to check out Chase because I am so tired of USAA's regulations.  I never had a complaint the whole time I was with them up until about 8 months ago.  And now I am homeless because I deposited a check that already cleared and my funds are still on hold, so I missed the deadline of getting the deposit and first month's rent turned into my apartment complex.  I had to send my kids to their dad and I am either staying in my truck or staying with friends until my hold is lifted and I can find a new place to go.  I even called USAA and explained my situation, only to be told there is nothing I can do.  This is not right.  Thanks, USAA.  You have definitely lost a banking customer.

Dear Miss T,

I am so very sorry to hear about your situation and understand you have spoken with someone; but we would like the opportunity to reach out again. If you could please email us at socialmeida@usaa.com with your member number and the details about your situation, someone will be in touch. Thank you

I am having the same problem.. As soon as I deposited my check I got a text saying they had received it. I thought I was all set to start paying on some of my bills but now I'm being charged late fees and getting my card declined because they have put 1000 of my funds on hold. This was a payroll check. I spoke with my company and they said the funds were already pulled from their account. Its no longer usaaEasydeposit. It should be UsaaDifficult deposit. I spoke to 6 people yesterday and no one could let me speak to a manager or do anything to help me. If I had known this was going to happen I would have cashed it at walmart! then deposit into a bank of america account! I had always trusted Usaa in the past but now they are screwing me over. I have 2 dollars available to me for the rest of the week. Im most likely going to lose my job because I cant get gas to go to work. Thanks alot Usaa. I tried being respectful to everyone on the phone but this has gotten out of hand!

Hi Joe,

I am so sorry to hear about the hold on your deposit. I would like to get you in contact with the right person. If you could please email us her at socialmedia@usaa.comwith your member number and the details you provided above, a specialist will be in touch. Thank you.

 

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Ill be closing my account once this is over with.