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USAA - The bank held money that I desparately needed

  • by   Jan 05
  • Review #: 372811
CompanyUSAA
Category Finances
Views205
Monetary Loss
$423
 

I deposited a check for $4000 dollars that I desparately needed and they held a portion of the funds.They wouldn't stop processing the check or lift the hold for five days.

I even tried talking to their "Executive Resolutions Team" which turned out to be another person that just wasn't willing to help me. Had I known that they would have held my money, I would never have depsoited it with them. I'll just tell everyone that ever asks about military banking to never go through USAA. Congratulations USAA.

I talk to a lot of people every year.Tootles. 2fb5b70

 
 
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JJ JJ
Apr 08  from Waterloo, Iowa
Its common to hold checks. Just because you have the "I Want it now" Mentality, doesn't mean its right. Show some patience and don't put yourself into deliberate financial trouble. :roll
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nikalseyn nikalseyn
Jan 05  from Columbia, South Carolina
Many decades ago I used USAA while in the military. However, customer service got so bad that I finally went elsewhere. They are no longer the first choice of knowing military personnel. Just don't go with Bank Of America. JP Morgan Chase is good for military members.
That being said: holding checks is very common and perfectly reasonable. The bank needs to verify that the check is good and the funds available before they give you the money. What happens if they give you $4K and it turns out the check bounces? You would have the bank's money and they would have to take you and whomever to court to try and recoup their loss. You are wrong on this one.
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