Saturday, July 10, 2010 - 12:27 PM

Interesting Incident At USAA Bank

USAA usually gets very high marks for customer service. Anyone can now qualify for most of their banking services, but for insurance, you have to be connected with the military.

I just read this Rank my Bank post at Personal Finance Journey blog. The writer described a disturbing incident with USAA. Here's an excerpt:

When it was time for me to choose a car insurance, USAA made sense…though that is also when things took a turn for the worse. During a time when I lost my job, they worked with me to keep my insurance active. However, something was not documented properly and even though I was making payments I was being flagged as late.

These consecutive late payments resulted in a suspension of my banking web services. Now, mind you, my banking accounts never defaulted during this time. I was told I could keep my accounts, but wouldn’t be able to use the web services for a period of 7 years! HARSH!

KenBDG5,146 posts since
Nov 29, 2009
Rep Points: 117,062

1. Sunday, July 11, 2010 - 3:19 AM

WOW! That's odd. She didn't lose her bank accounts, but web access was cut off? That's bizarre. What's funnier, is that Kita actually rates USAA her best banking experience, outside of the web access denial.

*When my web service is restored, accessibility will jump to 8/10 giving them an overall score of 33, being the highest scored and my top choice*

Ken, I'm a USAA insurance customer, and have only had positive experiences. I think Clark Howard rates USAA as pretty much "numero uno." Kita had links to Dave Ramsey. I wonder if you have a way, directly, or through Clark or Dave to get USAA to comment on such a policy... Kita's blog sounded legit, so I'd be interested to know USAA's thought process in this. They are on my list for future Banking, but if a mistake on their end could jeopordize a long term CD... it wouldn't be worth the risk.

Please update this post if you find anything. I'll call, too, but I doubt I know the channels you do to really get anywhere with this.

Mike276 posts since
Feb 22, 2010
Rep Points: 704

2. Sunday, July 11, 2010 - 8:20 PM

My experience with USAA is also nothing short of stellar. When I talked to a CS rep, prior to making a recent CD, it became readily apparent that I was only eligible for USAA's banking sector. I'd really like to hear USAA's side of the incident in question.

tomlawler21 posts since
May 22, 2010
Rep Points: 82