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Thanks USAA, for the hold on my tax return. I had to mail my deposit took days to get that done you receive it and now put a hold on it. Thanks for the NSF fees because of the hold not too mention I don't even have money to buy groceries. #starving because I can't access my money

15 REPLIES

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Wow. It sounds like you've created a terrible life for yourself,
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I'd strongly suggest you sit down with a financial planner or debt counselor and get a handle on your weekly/monthly cash flow. Being in a position where you are dependent on a tax return to buy groceries is extremely risky, as you are seeing for yourself. Ideally you need to be working yourself towards having some small emergency fund and savings set aside for sticky situations like you are in now. More importantly almost, you need to have a handle on that cash flow so that you balance the inflow with your necessary expenses and don't end up in your current bind. With all sympathy to your current situation, I don't believe this is USAA's fault; you need to plan in advance for known, regular delays in banking transactions.

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You should definitely look how you spend your money and make changes. Don't be afraid to make a budget. It will really help you.

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I thought it was standard for a bank to put a hold on a hard copy check if it is over a certain amount money. Hopefully you will get some financial advice from a professional.
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Don't listen to these rude and condescending comments. Lot's of people are having a tough time right now and are laid off or under employed. I hope things get better for you and I'm sorry your money was held up. Thanks for sharing your story. Semper Fi and God Speed.

 

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Thomas you really are an enabler. The OP doesn't need more sympathy but needs to understand how to handle finances. All you can say is don't listen to these rude responses. Honestly, this is not going to help. The OP needs to take some financial courses and learn how to budget. They need to spend less than what they make and build an emergency fund. Relying on a tax return to buy food? Their not even meeting their basic necessities.The OP needs to take responsibility for their actions and understand why they are in their current situation. Yes times are hard, but it's called growing up and being responsible. Here's a suggestion for the OP then. Since you can't afford food, then go to a local mission and get a free meal or two. Use your tax return for something else and get yourself back up on your feet. Budget your expenses and don't spend more than what you need to meet basic necessities at least. Build a small emergency fund ($1000) until you get out of debt. Then attack your debt. Work an extra job or two. Even if it's at a fastfood joint. It's only temporary. People neglect to understand that the biggest path to building wealth is in their own earning power. Use your paychecks to invest in yourself. By that I mean live debt free and save. To the OP: Take what others have left as advice. This is not criticsm to make you feel bad. You need to own up to your situation and stop living paycheck to paycheck. This is a rude awakening to help you understand why you need to make drastic changes in your lifestyle to help you become successful. 

I Don't understand you all that have to pass judgment. Have you lost a home to foreclosure? Have you lost a job? Have you lost a spouse income? Have you taken a pay cut. Then shut up and let this woman vent. Just because you were able to use your financial planner to have money. KUDOS to you. Been there done that, but life does happen. So don't be judgmental because you don't know the road that most have been on. So SHUT UP!!!!!
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You are right Con. People are quick to pre-judge. I've done financial planning and was doing well until I was forced to stop working. Then, in Dec, my wife not only lost her job but also her mother in the same week. Had to fly to Laos for the funeral. Trip set us back 10-15,000. No amount of financial planning could anticipate that.

Possible others with condescending remarks haven't had the type of hardships others are unfortunately experiencing. Hopefully they never will.

For what it's worth, I just became a member but will not be here long. I've had a negative instance in signing-up and am less than infatuated with USAA.

As for the hold on deposits. USAA is still in 18th century. I have accounts with BofA and a credit union. Both of them make ALL deposits available immediately  - a small holding time on very large amounts, but, both financial institutions  make 100-500 available immediately.

With all the banking technology in use, all it takes is a swipe through their check readers and they know immediately if the check is good or not. Absolutely no reason for any hold beyond 12 hours. Not only that, but what are the odds that a tax refund will "bounce"?

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My deposits clear immediately. Literally. I snap a photo of the check and I can spend that money in seconds. What I've pieced together is that the less of a threat you are to the rest of the members, the more leeway USAA gives you. If you're not mired in debt, never miss payments, and aren't hovering near NSF, USAA takes good care of you. Understandably, it has to keep tighter control over those who might make it bad for the rest of us. It's sad, I know. It's hard, I know. But it's not fair to expect to endanger the rest of the membership. BofA is larger, allows anyone to open an account with them, and, incidentally, has been in financial trouble itself. USAA is trying to keep its nose clean and succeeding.