Am I missing something? A local investment banker recommended USAA for variety of products I use so I decided to apply. It has been 45 days and still not finished. Constant emails and messages contradicting each other, requesting even more documents... A nightmare. Then I looked reasonably:
1. There is no dedicated person that can be my point of contact for banking, insurance, annuities, investments. Instead you have to deal with dozens of nameless people of unknown qualifications. Bad.
2. To get anyone on the phone it takes several minutes of ridiculous 'security checks' automated and verbal. They assume my time is worthless. Bad.
3. To log in is also complicated and time consuming. Bad.
4. There are no physical offices. ANYWHERE! Bad.
5. You cannot meet face to face for complicated products that take time to explain in person, like insurance and annuities. Bad.
6. People I spoke to so far don't seem overly helpful or competent. Bad.
7. There are no specific phone numbers and emails to communicate repetedly with a specific USAA person. Bad.
I don't know how USAA would handle real problems like credit card disputes, insurance claims, lost ATM card overseas, loan documentation... but at this point I am highly sceptical. Compared to American Express, Fidelity and some banks I use, USAA customer service and efficiency seems subpar, to put it mildly.
What am I missing? What is good about USAA????
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