USAA

USAA Bank Closed My $12,000 Checking Account Without Any Warning or Clear Explanation

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• published: 23 Jun 2016
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LESSON LEARNED Have multiple checking and savings accounts. Don't hold all your money in one bank account. Previous video: https://www.youtube.com/watch?v=SkwdeWLfkT8 ===== * USAA May 10 / 05:32 PM Dear Mr. Kim, This message is in reply to your social media post regarding the Cease and Desist letter you received. The transactions that are in question are regarding your transfers into and out of business accounts. These transfers, in and out of such accounts as the [REDACTED] account, are considered business activity or business transactions. Please know that the Cease and Desist does request that you call to provide any information, which will be reviewed. However, please know that USAA does NOT provide business accounts, and the personal accounts cannot be used for business transactions, transfers, or activity. Please feel free to contact us at 210-531-8722 extension 78718, if you have any additional questions. Our representatives are available Monday - Friday 6:30 a.m. 10 p.m. CT, and Saturday 8 a.m. 6 p.m. CT. Cathleen Thank you, USAA USAA means United Services Automobile Association and its affiliates. Collapse * Me May 10 / 10:18 PM Thank you for providing specifics. The last time that I did a transfer from the account with a nickname labelled as, "[REDACTED] " was March 1, 2016. Based on your specific information, I now understand that transfers from that account will be considered Business Activity / Transactions. Are there any other transactions that I should be aware of? Collapse * Me May 10 / 10:19 PM FYI, I have deleted the account, [REDACTED] so that I do not make transfers from it again. * Me May 10 / 10:24 PM Also, just to be clear, am I able to deposit checks written out to my personal name that originate from[REDACTED] .? The reason why I did the ACH transfer instead was to save on the hassle of printing a check and depositing it into my USAA account. But if the actual ACH transfer is considered a Business transaction, I can simply cut a check do be deposited personally into my USAA account. Or has USAA decided to ban me from depositing any checks written in my personal name if the maker is [REDACTED] ? Please advise. Collapse * USAA May 11 / 12:43 AMDear Mr. Kim, Thank you for your reply. Your questions have been submitted for review by an account analyst. We will share additional information once the review has been completed. I appreciate the trust you have placed in USAA to meet your banking needs. Darcy Thank you, USAA USAA means United Services Automobile Association and its affiliates. Collapse * Me May 14 / 07:55 PM Any updates on my question? * USAA May 15 / 04:04 AMDear Mr. Kim, Thank you for your reply. I am sorry for the delay. Due to the weekend, your inquiry has not yet been reviewed. You should be contacted early next week with more information. Thank you for your patience and I hope you have a great day. Sincerely, Jesse Thank you, USAA USAA means United Services Automobile Association and its affiliates. Collapse * Me June 22 / 10:35 PM I discovered that my account was closed today without any prior warning. I could've at least ACH the funds out. $12,000 is a lot of money. I was attempting to engage and assumed I would've received some kind of advanced notice. I spent about two hours today with various reps who thought it was fraud, only to discover that it was your bank. I had asked specifically, and never received a reply to my original inquiries. Collapse * USAA June 22 / 11:49 PMDear Mr. Kim, Thank you for your reply. I am sorry to learn that your account was closed. I can confirm that a research request was submitted on May 9, 2016, asking for additional details to determine which transactions were considered business transactions. Regrettably, the requested information was not provided. Instead, the request was closed today with comments stating that business activity has been identified on the account ending in 2644, and the account must be closed. Please accept my apology for the unsatisfactory service. I sincerely hope that future contacts will restore your confidence in USAA. Darcy Thank you, USAA === === === === http://JeffersonKim.com