Compiled from Public Data by FairShake
The US government’s Consumer Financial Protection Bureau (CFPB) collects complaints against financial companies.
In 2020, the CFPB received 1592 complaints against USAA. USAA ranked Number 27 among all financial companies for the most complaints.
Date of Complaint: November 18, 2020
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
I was informed by USAA that I my accounts were being closed for ” Dispute Fraud ” which is something I had never heard of. I was told it was they deemed my disputes as fraudulent and were discontinuing their relationship with me and closing my accounts. I advised them I thought I had a right to dispute and was told by an old accounting professor that we should dispute stuff all the time and while I disagreed with their decision ( been a customer for 12 years ) I would just take my business elsewhere. They advised me they would be sending a check to my address with the left over funds. I proceeded to open a new checking account with a new bank. I called about a week later as I had not seen the check, and I wanted to make sure my auto, renters, and boat insurance was not set up to renew – as I had already paid the year up front. I call in and speak with XXXX, who tells me they have not sent the check yet and that she didnt have a way to transfer it to my new account. I asked to speak with a manager – which she then in turn read me a script confirming I wanted to speak with a manager and she would be transferring me. I confirmed his with XXXX. She then transferred me to a new person – who told me that my account was in fact not closed but was in the process of closing and is scheduled to close XX/XX/XXXX. I explained to him that this was not ok, I do not owe ANY debts at all let alone to USAA. I do not owe them any prior balances, I do not have any negative account, or any other debt obligation. I also confirmed this on the call with XXXX XXXX. I explained to XXXX that this was not ok and we needed to get this rectified. He then put me on hold to speak to a supervisor. I told him I was told he was one and he said no – I’m a senior rep. He then put me on hold for a bit while we waited for a supervisor. He can back to the line about 15 later and said ” Yea so it will be mailed out 10 days after we close it ” – I again explained to him that this was not ok and I was holding for a supervisor. He then said that one wasn’t available. I explained to him that the call was being recorded and I was going to record on my end. I explained to him again I needed to speak with a supervisor – he can back again after another 15 min and said one was not available. I again explained to him that I will continue to hold. I had a feeling that he was not telling me the truth and was just putting me on hold and then walking away from his phone- so I called in from my girlfriends phone and also asked to speak with a supervisor. I was transferred to a supervisor within 10 min of holding. XXXX XXXX was here name – we spoke and she seemed very helpful – she came back on the line after a hold and stated yes in fact the account was scheduled to close on XX/XX/XXXX and the check would be mailed out after that. I again explained to her this was not ok. She said it was their ” closing process ”. I asked what that meant. She continues and said to me ” We can call the CEO but that’s my answer ” I then had to actually plead with her to try and provide someone who has zero outstanding transaction with a company can hold their funds for 60 days. She then put me on hold to ” Find more info ”. She came back and confirmed both recent disputes were closed and the temporary credits were already removed from the account.
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.