Compiled from Public Data by FairShake
The US government’s Consumer Financial Protection Bureau (CFPB) collects complaints against financial companies.
In 2019, the CFPB received 1354 complaints against USAA. USAA ranked Number 23 among all financial companies for the most complaints.
Date of Complaint: May 30, 2019
Company Official Name: UNITED SERVICES AUTOMOBILE ASSOCIATION
Product: Checking or savings account
Sub-Product: Checking account
Issue: Closing an account
Sub-Issue: Company closed your account
Background : USAA closed my Checking and Savings account which I directly deposit money to from my place of employment after they stated I did not respond to an email from them requesting a copy of my Identity. I receive thousands of email spam and did not see such an email with the distinction of an this important message. Additionally, I have the USAA mobile App and there was no indication that I needed to send this information or else my account would be closed. I do not believe email is a safe communication vector since I have been in several email Data Breaches reference : XXXX and search for my email : XXXX Just as concerning is that USAA stated that they mailed me a check with the balance of my account. If they can not verify my identity how do they know they are sending my funds to the right address? I have not received this check and I am out of money to life on.
This was beyond troubling and perplexing to me since I provided my Driver ‘s License and a copy of my DD214 to them upon opening an account. XXXX XXXX from the MOET team ( Member Oversight Excellence Team ) stated that due to U.S. Patriot Act and the Bank Secrecy laws they had to ask for ID. Additionally XXXX XXXX. stated that USAA is now becoming a larger financial institution. I was told that I am on a XXXX XXXX feed where they could not verify my identity ; I purposely advised XXXX XXXX and the Credit Bureaus XXXX of 2018 that they were not allowed to share my information at Random to protect my Identity so that I would not be a victim of fraud and now I am a victim of a Bank misinterpreting the Fraud law which applies to new accounts not existing accounts.
How can USAA accuse their own customer of not being who they are after I have been with them for several years? As a Consumer of their financial product and services I believe my rights have been violated since Fraud only applies to new accounts and closing my existing checking account is unacceptable and violates Customer Trust.
I was told to fax my identity information to a fax number to get a new account associated with my member number ; but it will take 10 days to update in there system which indicates there is a back log and group of others that have been wrongly affected by their mindless new process. I also am not within the payroll limits to stop my next check from going to USAA and will have to wait for their mindless process to pay me back my money that is still set up to go to them for one more payroll cycle.
I am a Veteran, a member of the XXXX XXXX XXXX ( with background check ), I am a XXXX XXXX XXXXXXXX/XXXX XXXX, pursing my XXXX in XXXX XXXX and handle Identity and Access Management architectures to improve the Customer Experience and it is never recommended to close an existing, established Customer ‘s Account ; especially within a 10 day request window.
Moreover, my wedding is in two days and I have no money to prepare myself, get gas for my car, pay for the food and this was a Crushing experience for me.
XXXX XXXX, XXXX.
( XXXX ) XXXX
Complaint Tags: Servicemember
Response Type: Closed with explanation
Company believes it acted appropriately as authorized by contract or law
FairShake accessed this complaint from the public archives of the Consumer Financial Protection Bureau (CFPB). You can file your own complaint with the CFPB here.