@TrapLine wrote:
Since 2015 USAA Federal Savings Bank has chocked up several major no no's in the world of banking. They have paid out many millions in penalties. Their customer service used to rate up with Discover Bank. Well not so much today.
The good ole days that used to exist for them go way back to say in 2008 and, are now in the rear view window. Consumer security was blasted a couple of years ago. Frankly, if they knew banking they would have NOT had the major violations (note this is included in posting around MyFico over many years). How they have survived this long is amazing. Truth, there is no excuse for the short comings.
Am I bitter? Yes, I used many of their various programs, investments, credit and banking. Signed out of their when I found the customer security challenges a couple of years ago.
What always amazed me was their ability to keep most of the negative press limited to the Texas news media?
Way better financials out there today and I was a loyal veteran who served in foreign countries and believed in them?!
I onced used USAA for my primary checking, but these days I only use the checking account for free ATM withdrawals. I generally keep less than $100 in the account unless I expect to be traveling.
To put things into perspective, several years ago I started using my 'backup' Wells Fargo checking account as my primary transaction account and I've never looked back. I know WF isn't exactly a beacon of integrity, but at least if I have an issue I can drive over to a branch and clear things up (which for the record in 20+ years I've never had a problem with WF... I can't say that for USAA).
TL;DR: These days I have so little faith in USAA I prefer to use Wells Fargo.
