@Duke-of-Earl wrote:
@Revelate wrote:
Ugh this doesn't sound right. ACH batches get held up on both sides and it isn't uncommon to take a week but a 10 day hold on the USAA side alone seems extreme after the first one... this has happened to you months in a row? Other than trying to get people to sign up for direct deposit I have no idea why they might even consider doing that?
What's the difference? Isn't direct deposit done via ACH? I think mine is. And I've never had any delay. Actually, USAA usually credits my direct deposit the day before my employer is technically issuing it.
That may be the mechanism for moving the funds (or some other electronic funds transfer), but they're never subject to the same holds that other ACH's are regardless of insitutation. I'm not conversant as to why this is the case other than everyone gets infuriated when their paycheck doesn't clear effectively immediately, whereas those who move money around via ACH's are definitely a minority.
Unfortunately banks sometimes do things just because they can, and holding your cash a few extra days that they have extra money to lend out over that period, is just one of them.
Well my USAA experience went from good to poor today.
I tried logging in to my account online and they had a message saying my account is restricted. So I call in and they.'re rep. says they need to verify my Idenity, they need a copy of:
-Social Security Card
-Drivers License
-Utility Bill in my name
- 3 Recent Paystubs
Excuse me? This is a checkign account, not a personal loan. You do not need any of my paystubs. Spoke to a supervisor and that is their policy to get this information. When I asked why they need my paystubs he could not explain why. Fine, close the account.
Now the kicker, they have $500 dollars of my money to fund this account. I need to wait for this to post on my bank account and then call back for them to refund it.
Sorry to read that, LS.
@Ron1 wrote:Sorry to hear it. I never heard of asking paystubs to open a checking account. They didn't ask me for anything when I opened three years ago. I hope they didn't pull any credit report to verify your ID. I would be angry. I still don't know why they ask for that. Do you have any fraud alert on your credit reports.
Ron.
They're all frozen, thats probably why they asked for ID verify, but paystubs is way overboard to me.
LS,
Could they have been softing you for an offer, saw a credit freeze, and gotten skittish?
In my case; they used Eq for approval but soft Ex monthly.
@drkaje wrote:LS,
Could they have been softing you for an offer, saw a credit freeze, and gotten skittish?
In my case; they used Eq for approval but soft Ex monthly.
no I didnt app for any cards, just a checking account.
I've been a limited member for almost a year and decided about an hour ago to apply for the regular platinum Visa and was approved for $6200 and the account already shows up when I logged in boy that is fast...But my apr is 23.9% makes this card a real pifuller