USAA Bank Fraud Concerns
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- Опубликовано: 2 июн 2024
- PROBLEM SOLVERS: There's comfort in keeping your money in a bank or financial institution. The thought is, your money's safer there. Now a growing number of USAA members are having second thoughts; after losing thousands of dollars to bank fraud. bit.ly/4e2vOyu
I am really concerned about the current bank crisis , these are all the signs of yet another 2008 market crash , so my question is do I still save in the United States dollar or is this a good time to buy gold or some other assets ? USAA today who knows who tomorrow
Many overlook that banks are return-driven businesses. I don't trust keeping a large sum in a bank. Instead, I invest with guidance, enjoy the benefits, and save for retirement.
Given the current state of the market and the potential risks to the economy, I would advise that it's wise to hold onto some gold. Instead of investing blindly right now, it may be better to do your research or seek guidance from a financial manager to make informed decisions.
Thanks for replying, You seem to know much, How did you go about it and can you recommend an advisor like yours?
The decision on when to pick an Adviser is a very personal one. I take guidance from Sharon Ann Meny to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
I just googled her now and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
USAA is indeed no longer what it used to be.
I've been with them since the early 90s (my dad was retired Air Force, and my mother worked for USAA) ... It's sad how far down they've gone ... They are now rated 'D+' on Weiss Bank Ratings website ... I've moved most of my money out of their bank.
You're so correct. I left them two years ago when they applied someone else's roadside assistance to my auto insurance account. After multiple calls, and them ON TAPE admitting that they'd made the mistake, they still wouldn't change the assessment. Screw them. After 40 years of membership, I left. I'm now with AAA for my auto insurance, and once an inherited IRA matures I'll have no contact with USAA at all.
I believe it’s all inside job employee still in people personal information still in their money
I dropped them 8 yrs ago when I purchased a new house, and they initially inspected the house & roof before signing & assured me everything was good. 2 wks after moving in they wanted to inspect again and told me to replace the roof in 14 days or I would be dropped from homeowners' ins. I had 2 wks to find a reputable roofer in a new unfamiliar area. I ended up paying $15k out of pocket for a new roof ...and needless to say, I dropped USAA after being with them for 32 plus yrs, and refuse to go back 🤬
Years ago I was renewing my boat insurance and found out it was transferred to Progressive. Now they dropped their Mutual Funds and transferred the funds to Victory. Also brokerage account closed and transferred to Schwab. Sad to see these banking problems since that and insurance is all they do.Member well over thirty years and have had good service.
Seem like nothing happens until a news station embarrass the corporation.
They basically hired criminals to staff their call centers to save a buck and refused to take accountability for it. I joined as an E-2 and kept accounts there for over 20 years. They were really good throughout my career but seemed to go downhill after I retired. I haven’t dealt with them in years and I’m glad they are finally getting called out. The customer service is worst than the cable company. This is good reporting.
That's the whole "Equity and inclusion" at work for ya ;-)
Their customer service is horrible. Most of them cannot speak English and may be from another country. It also takes them hours to answer the customer service line horrible
I had the same experience, after I retired they no longer offered the pre-approved auto loans and I had trouble getting a mortgage with them. Many people told me USAA don’t care about you after retirement.
@@07wrxtr1please elaborate on your comment. Don't be scared. If you're a bigot, stand proud! 😂
@@07wrxtr1that's not that at all if anything it sounds like cutting cost and hiring cheaply and not vetting employees...
Why did it have to go to a reporter investigating it and publicizing it for USAA to do anything about it.......???????????
That begs the question...
Because it is going to cost USAA alot of money-But more importantly, it is going to cost USAA a whole lot of bad publicity. USAA was probably hoping they could sweep it under the table.
@@johnmartin9823Just like the government or other large companies which are all tied together. Crony capitalism at its finest. Their bottom line matters, not yours.
Yup…. USAA doesn’t care anymore
I jumped on here to make the same comment. Glad you made it first. FYI - this is not about the fraud. Yeah, it happens. It's about how the corporation with whom you have placed your trust chooses to turn a blind eye. Been happening with USAA for years - I left them more than 10 years ago over the same issue. Hopefully more stories like this will let the world know.
This is when corporate media shines- when aiding consumers ! Please do more of THIS and less political propaganda. Good job. Please keep it up.
Nope.
The media is running the cover-up for the government.
Foreign nationals were doing this fraud and the gov't didn't want to cause panic.
oh don't worry, it is still political because of who USAA supports politically. They would never go after a big bank because corporate media banks with them.
Bingo! @@rotaryenginepete
@@rotaryenginepetelmao USAA is a big bank 😂. And yes there are plenty of new articles on other banks google Wells Fargo. Fyi Big banks support GOP because they favor less financial regulations.
wrong, they help one in 100,000 and then pretend to be doing the public a service. It is the same as giving a sandwich to a homless person and then claim you are helping the homeless population.
I am really worried about the current bank crisis/interest rates, these are all the signs of yet another 2008 market crash 2.0 , so my question is do I still save in the United States dollar or is this a good time to buy gold?
It’s always a good option to keep some gold. Well with the current market situation and everything at stake with the present economy, I’d say you’re better off staying away from stocks fr awhile or better still reach out to an adviser for guidance.
True, a lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $550k so far.
@@williamDonaldson432 my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
@@williamDonaldson432 Could you kindly elaborate on the advisor's background and qualifications?
I won't pretend to know everything, though. Her name is Sharon Ann Meny but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
I was once extremely satisfied with USAA, having banked with them for 25 years. However, the service, which was once exceptional, has drastically deteriorated in recent years. A few years ago, I became so frustrated that I closed all my accounts, except for one, and now maintain as minimal a balance as possible in that account.
Clearly, the appreciation for military customers isn’t what it once was. Which seems to mirror a broader sentiment in America where politicians have realized they can express disdain for service members and their families, yet continue to label themselves as patriotic, without facing any political repercussions. Likewise, USAA.
Well said.
When someone like a President sets the talk and tone for veterans. It makes a difference on how many in the general population will behave.
Scumbags like drumpf
27 years with USAA. $1 in a savings account there. Closed my credit card and took the hit to my credit. Cancelled my renter's insurance. I'm about to cancel my car insurance.
Wayne Peacock is the worst thing to ever happen to USAA.
@@sageallure Sad, but true!😞
I joined USAA when they opened up to senior enlisted. Was very happy with them, for 3-4 years. Then my homeowners and car insurance started jumping over $100.00 each year. They never would tell me why. But did feed me a load of crap about shingles on roofs, in my state. Left them and my insurance dropped by 50%. They just got too greedt.
Your bank wouldn't know why your insurance increased, your insurance is responsible for that
@@lovly2cu725 I had USAA auto and USAA homeowners insurance.. They are all part of the same family.
It went up because you were enlisted
Same here. Ditched them.
@@Slide61 Could have been the reason.
You can have the best fraud detection program but it's useless if you have hired crooks due to inadequate screening process for new employees.
That I did not think of🤔. And I'm usually the out of the box thinker. Huum u got my mind thinking now, how in the hell they are doing this to all of us.
If rs very wierd.
Likely Crooks from Other Banks or Brought over from a Manager of another Bank...
think DEI hiring
Do you know the requirements to join this institution. It ain’t hard
Is this happening from the inside?? Because they sure didn't want anybody to know until the reporters got involved?? And they're still claiming innocence and trying to charge people fees 😡
Yes
Here is all you need to know. ALL banks are thieves. End of story
@@NinaMayberry proof?
What fees
As 50 year members, this hurts! We remember the glory days! My husband has had numerous fraud alerts on his USAA Visa cards…they just cancel the charges and issue a new card. Once fraud was committed on a card he had yet to receive! I always wondered if it was an “inside” job.
Hmm this makes me wonder - I remember 10 years ago someone stole my identity and it happened right after I applied for a loan at USAA. There were all kinds of weird purchases and all were made in San Antonio (USAA headquarters) even though I lived in a different state. They assured me it couldn’t have been anyone at USAA and I believed them, but now I’m not so sure.
With a psychopath for a CEO like Wayne Peacock, you can only imagine what goes on. I have $1 in a savings account there just to keep it open. Cancelled my Visa card, and took the hit to my credit score. Cancelled my renter's insurance, and my home owner's insurance went to Foremost. I can't get away from USAA fast enough.
27 years of paying for insurance and only filing 1 claim in 2021. That was when I learned how awful USAA has become under Wayne Peacock.
That’s where I used to keep my emergency savings - but I pulled it out after learning about this.
Good move
Hopefully you put it in a high yield savings account so that you can get interest payments every month.
No High yield savings can ever compete with the returns cryptocurrency gives. It's why they scare the public into staying away from it. 6%-20% APR 😎💰
I’m pulling out
Go Penfed or NFCU
I get a stress attack every time I have to call them. They’ve raised my auto insurance many times, no explanation. I have zero tickets and no accidents. I drive 3000 miles a year. They lie at every opportunity. I’ll be searching got another company. I literally hate what USAA has become.
Same. We’ve been with them for decades. We are looking at other options
Thanks for the Info...
My insurance went up also and haven’t had a ticket in 14 years. I may switch.
Same here. After 15 years I'm leaving because they won't pay my property claim from almost a year ago !! Had to hire a public adjuster to go after them. And maybe a lawsuit if that doesn't work. 🙄
I'm glad I found this post. I've had car insurance for years with them because it was the cheapest. Now it's like a house payment the last couple years
I was going through my USAA account and seen a live $10k deposit made to my account. I quickly went through the password and pin reset. That $10k deposit really helped me out.
😂😂😂😂 love this. You outsmarted the scammers. Good for you!!!!
😅 You beat the scammers. Good one.
Brilliant move! 😀
✌🏽💰
this is why local news channel is important.
it can get the news that is very important and close to the people
and get them the help and attention that is needed to force these company to do the right thing
The feds need to get involved!!!!!!!!!!!!!!
The feds probably did it. FJB!
Why, they will just make it worse!
Likely, they may have a Crook in the System, funneling money to other Overseas Banks..
Oh they are already involved 😂
The feds are part of it
I dumped USAA after 25 years of their services because of the insurance department. Their estimator assessed $31k in storm damages on my home and then only paid $18k. I spent $17k just on the roof. The claims people are the worst in every way. I closed everything in 2014 and refuse to answer any calls from them. Crooks.
Same. My basement flooded ruining drywall and many personal items. My estimate was 18k personal. USAA only gave me 4k total. I fought for more for over a year and they gave me 1k more🫤. I am ex military and I had USAA for over 23 years. The audacity ! I got a new insurance provider and I’m switching to them in a month from USAA. It’s awful how they treat vets now.
They did me the same way. Its horrifying. The reps I had to deal with all seemed to work from home. All I heard were kids and barking dogs. These people even pretend to car I was trying to deal with a devastating loss and they blatantly lied to me over the course of over more then three years! I am still dealing with them. I am still flabbergasted at the lies. I did read that the present CEO us the first in the history of the company who has never served. IDK. Its astounding how far this company has fallen.
K42023
Thank you for your service. I’m sorry to hear they had trouble
I left them for the exact same reason the insurance. USAA actually advised me when I called to make a claim because of a house fire! The person on the phone actually advised me not to make a claim. I was like are you kidding me. My house burned down every thing is gone this is what I paid for insurance for.
So sorry to hear this.. that is terrible and gross.. I hope you all get a consumer lawsuit started.
A similar thing with fraudulent USAA accounts being created and then funds withdrawn happened to my late father, a retired US Army Colonel. USAA initially accused him of the fraud and wanted him to cover thousands of dollars in missing funds. To make a long story short it became pretty clear that this was all being perpetrated by insiders, dirty employees at USAA. Their house needs a good cleaning and until they do so I would recommend you and your money stay away.
They accuse everyone of fraud. I was with them for 25 years before I ever filed 1 claim, they *immediately* tried to accuse me of a form of fraud, and I'd already hired an environmental expert to come in, assess the damage in my house, and compile a report of science-based data.
After that, I realized there are two side to USAA: one where they get you to enroll in their products and service and the other where they hire sociopaths to make your life miserable and accuse you of fraud so they don't have to pay claims or cover fees for banking errors.
So much respect for this Problem Solver investigative reporter.
When I joined USAA back in 1975 they were only staffed by ex us military and there customer service was great. They have gone downhill from there on all fronts sadly.
My sister worked for USAA insurance after she finished college back in the 70s. She quit in the late 80s when she heard that she was going to be transferred to Texas. She and her group used to handle the insurance claims for a certain region of the US. This was before call centers became the rage for companies.
The biggest crook of all is Wayne Peacock, the psychopathic CEO. He's definitely not military and the haphazard way he runs the company, it shows.
I was a loyal member of USAA for decades, then I decided to jettison the home insurance and auto because they became uncompetitive. I am not a bank member nor will I ever become one.
Every time I try to make a USAA homeowner's insurance claim it is DENIED for one reason or another. They are failing service members!
USAA forced me to have $128,000 policy because that was minimum it would take to replace my home. 8 years ago my home burned. Complete loss to me, $43,000 is what I got. I live in a storage building now still rebuilding.
I had that problem for a couple years until I started submitting my own photos to them of the hail damage to my roof instead of letting the insurance adjuster do it. That way, I legally had proof that there was damage up there. I didn’t take those photos earlier because I have a terrible fear of heights and a health problem that causes me to get dizzy sometimes. My roof was _terribly_ damaged. Ten hail marks per 10x10’ square is the legal requirement for covering a new roof, but I could count at least 20 marks in a single square foot anywhere up there. I was about to get a lawyer until they decided to cover a new roof for my house.
USAA over charging me for car insurance .. and they know... every time I see the comercials about how they help veterans and active duty military🤢🤢🤢🤢🤢🤢🤢
I have been a loyal USAA customer for many decades. I’ve noticed for the last several years, however, that their customer service has continued to slide. At this point I’m considering moving EVERYTHING to another/other company)ies.
We moved hundreds of thousands of dollars out from them after they not only allowed someone to hack into my account, couldn't find who the hacker was and left the hacker attached to my account. I figured it out 6 months later and told them and left
Being loyal has nothing to do with anything.
Considering?! I'm long gone!
You need to use your head!
You and me both…
This is a sad state of affairs for a once esteemed institution. As a decades long member of USAA, and one who is currently having a similar experience, I am without words to understand how things have gotten so bad at USAA😞
Wow. This is the first I’m hearing of this. I’ve been with usaa for most of my life.
Here's how: Wayne Peacock because CEO in Feb of 2020.
I've been with USAA since 1976. The best thing I ever did was start banking with Navy Federal. Never been happier with a bank.
I was warned about USAA years ago from members, their insurance premiums would increase until you cancel.
Not with this bank, but, I had the same thing happen to me back in January. All banks are targeted. When I asked my bank what I do or what is in place to protect my money, I was told scammers are clever and hard to catch. The bank returned the money back into my account. It was a hot mess.
I agree. It's not just this Bank. Many Banks are being targeted. Especially CHASE Bank. For some reason, scammers love CHASE. At this point, your money might be safer inside the mattress. 🤣🤣
Sounds like the bank is in on it.
@@williamhodges3941 I told my bank that I believe what happened in my case was an inside job.
@@williamhodges3941 Yes, inside job!🤬🤬
@@jackfrost99 until thieves swing by and start going through your mattresses. This country is no longer going down hill...it is free falling.
That's happens when you outsource the processing of your customer data abroad 😑
Every problem I've had with USAA has been an American working in the US. 27 years with them.
Thanks for the Support. Great to hear of the Local broadcast station doing such great service, when the Behemoth financial services group seems to have lost its way.
They let someone steal $8500 from me while deployed to Iraq and basically the response was "welp, that sucks for you".
i was in OCS in the mid 90s and joined. great for 10yrs. my main bank was so "proud" to be not banking with them only but a "member" of USAA.
then after 2001 then went to E6 and above. a few years later ANY rank..E1...then the best:
if you ever, ever was in the military you can join and on the website from what i remember you just "swore" of such. no DD214 needed.
that was there downfall. how many 19yoa E2's wrap their car around a pole each month in the US compared to a 45yoa LTC from West Point.? exactly.
they wanted more membership? oh they "got" it OK. they got it.."good".
@tailwind12 Family members are extended indefinitely. My Grandfather was a Lt Commander in the Navy. My mom, his daughter has USAA but my dad had to get rid of it when he divorced my mom. He could no longer be a member. I have it, my kids have it and my sons wife has it. Direct linage can have it and their spouses as long as they stay married. I am sure my grandkids will have it too. When they say family they mean it lol. I had my USAA member number before I was even a teen. I dont remember what it took. I helped my kids by telling them my member number and that was about it. They received member numbers pretty easily.
@@JoeKyser This is not a true story, once you have USAA benefits you always have them. My trash ex wife is still a member and has been for over 22 years. The only thing her family ever served was drugs. This policy is also backed up by their website and the thousands of barracks rats that still have zero ATM fees.
@@tailwind12 Your personal story really has nothing to do with the subject of this video. USAA's Federal Savings Bank had insufficient safeguards against banking fraud, and their fraud prevention and customer service efforts were inadequate or non-existent.
@@kenc2257 as narrow-minded in stupid as it is you're entitled to your opinion.
yes it does have something to do with USAA.
I had been a member since the mid-1990s and after 2002 notice a significant decline in their customer service and other factors and yes there was even some breeches back then.
the the personnel they let in as customers can affect these incidents by the sheer number... Of customer clients they took in.. that was not the case 20 years ago.
I'm not all doubting the stories but there are some that I do question. again this is not 1995 that you get a statement in the mail.
If more than $50 is removed from any of my bank accounts I immediately get an email and a push notice.
So exactly what happened with all these "victims" that claimed they lost thousands of dollars and they never put the settings on a bank website to be notified if say $500 is removed.
you've made your comment. Waste your time and efforts commenting to somebody else do not write or comment to me again with this stupidity and comment.
They went to contract employers a few years ago and it’s gone down hill since then.
35+ year USAA member here. This is DISTURBING.
56 year member here. But, I only have insurance.
27 years. Don't ever file a claim with them, or you will see how many sociopaths they have working in the claims department. I withdrew all my cash except $1 to keep the account open. I cancelled my USAA Visa and took the hit to my credit report. I cancelled my renter's insurance and kept my homeowner's insurance with Foremost. Now, all I have to do is cancel my auto insurance.
Wayne Peacock truly destroyed USAA.
Wow shocking as I am a 40 year USAA member. Always treated be well.
Now I am concerned.
Same here.
Same 25+ yrs never had an issue but now im also concerned. I have everything with them too. Mortgage, car insurance, home insurance, life insurance and banking. *sighs
You should be….my parents had nearly $100k taken from their account. USAA controls are lacking….
OMG! 25 years member and very, very worried now.
25 year member here and I have noticed a decline in their customer service. I no longer have auto or home insurance through them anymore.
I had a pre-approved mortgage with USAA and when the builder requested the closing they declined the loan, I had banked with them for most of my active duty career in addition to several insurance products. I simply chalked it up to my retirement and change of income. I was pissed however, and moved all the money out including liquidation of all the investments and even sold off the life insurance policy. We eventually bought another home through another financial institution, but unfortunately lost the house we initially wanted. I always thought I was a bit rash to drop the bank entirely, and had recommended them to my daughter who recently commissioned into the Army as a RN. Good she didn’t take my advice, the bank fraud sounds like a train wreck.
Thank you for your service
Lots of banks are doing this right now. CHASE is a huge one doing this right now. Don't keep your money in one bank. People should never feel so fearful their lives will be destroyed over fraud. They need to file FDIC claim. BUT all of that said, they are creating problems like this so they can provide the solution pretty soon.
FDIC is there to protect your money if a bank fails only. NCUA does the same for credit unions. But in reality, FDIC and NCUA can take up to 99 years to pay you back!
Pay your bills and remove any extra $. I've done it 2 years
Excellent advice. Keeping money in different banks creates options to keep you solvent
🎯 Yeo, just like with the migrants and homeless, etc etc. And none of it affects "them". Not yet anyway 🙏🏽
FDIC is broke. Do your research!
I’ve had it happen to me with USAA. Somebody on the inside is responsible for this. As a 36B (Financial Management Soldier) it’s definitely an inside job!
I was scammed by a USAA frauder last year. They pretended to be USAA.
Completely pulled out of USAA 9 years ago. So glad I did. It started with the insurance making dramatic jumps in rates but lack of customer service aided my decision as well.
I may leave them after seeing this.
What more could it take?
they should stop spending that BIG 😢 money on NFL Commercials and update there fraud dept
USAA is definitely not what it use to be. I discovered this year that they were charging me on my homeowners insurance the same for outside structures ie a fence as the total value of my home. On top of this other little things that added up a LOT.
I have everything through then and am seriously thinking of shopping around now.
Interestingly, I was talking to an inspector during a home inspection 3 weeks ago and I asked him about home owner's insurance. He literally said "USAA used to be unbeatable, but I don't know what happened to them"
I had the same issue when I shopped for homeowners insurance. They were double everyone else. And I bought a car recently, same thing. I only bank with them now, and I'm starting to think about leaving entirely
when USAA wants paying Gronkowski to appear in commercials I knew it was over. A guy who was never in the military and probably got paid a big load of $$ for a commercial.
How about the money they gave to BLM? The members had no say in the matter.
I’m a 40+ year member of USAA. Thanks KABB for putting this on RUclips! I live in the mid-Atlantic, and would likely to have never heard of this problem! I’ll be keeping a much closer eye in my accounts from now on!
I always check my bank and brokerage accounts twice a week. There's no excuse for me to not to since I use a phone app.
Been a member 40 years. About 2014 USAA went from being a great company to trying to increase membership and raise rates. Up until then when I checked insurance rates they would decline giving me a quote saying we can’t touch them. Well now they are 40-60% more.
So why the fk do you allow them to abuse you for your entire existence??? Do something about it.
Praise God!!!! So Happy for Mr. Curtis and the others🙏👋👋👋👋🤗
Glad I came across this as a USAA member! Watching the Gronk commercials has made me realize my insurance rates will just go up and up.
I've been a member for about 10 years. My insurance rates went DOWN this year. I always reset my desktop after doing any financial transactions to prevent any data being on my computer for any other browsing. This seems to help prevent outside interference or interception of my financial dealings or passwords, etc. It's served me well, since I have no suspicious activity that I've seen. As for insider problems, that's not controllable with anything other than using the records they keep of any chats, etc. I am sorry some folks have run into problems, but I still like USAA and will keep them as my #1 bank. I have noticed some customer service reps are less familiar with USAA policies, but I contribute that to woke hiring, not necessarily a failure of the company itself.
@@hanknmosul USAA raised my rates $350 extra when I turned 25…. No history as to why either.
@@NoVaRedacted When did you turn 25? How do you pay? Annually, semi-annually, or monthly. You stated they raised your rates $350, so I'm assuming that's an annual total. It's true their rates went up (for me) at the beginning of the year, but my mid-year (I make semi-annual payments) payment turned out to be reduced from that amount. Insurance went up across the board at the beginning of the year. Everyone was pricing in runaway inflation, etc., at the beginning of the year. It's still running away in other segments of the market, but it's cooling down in our insurance a little. May I suggest you find another company to insure your vehicle(s). I insure 5 vehicles plus my homeowner's insurance through USAA, so I get discounts each time I pay. I pay less than $200/vehicle for 6 months of liability, per vehicle. All vehicles are paid off (if you can't afford it, don't buy it). I use a CC to buy one, then pay that off as fast as I can (avoid those finance charges). I'm 72yo, so I know what I'm talking about. Good luck with a new company my friend.
This story brought me to tears for those people in the story. Thank you for helping them.
My basement flooded ruining drywall and many personal items. My estimate was 18k personal. USAA only gave me 4k total. I fought for more for over a year and they gave me 1k more🫤. I am ex military and I had USAA for over 23 years. The audacity ! I got a new insurance provider and I’m switching to them in a month from USAA. It’s awful how they treat vets now.
That's 4k more than they gave me. They lied, denied, blame-shifted, ignored, feigned ignorance and essentially accused me of fraud, despite the fact that I hired an environmental expert to go in, take photos, take samples for mold to be tested at an independent lab, and they still didn't pay a penny, running around right up until the statute of limitations ran out.
So glad we quit USAA a few months ago! The banking customer service reps knew ABSOLUTELY NOTHING and had to LOOK UP THE ANSWER TO EVERY SINGLE QUESTION-we got REAL TIRED of dealing with clueless people. And now that Powell has said that smaller regional banks will be going bankrupt, there’s no doubt that USAA will be down for the count!! Good bye and good riddance.
Yes !! Where did you go ? I'm switching to Navy FederalCredit Union
Never used USAA. I always found their rates to be higher than what I could get locally. Glad I've stayed away from them all these years.
They fail miserably and I do not understand why people continue to deposit hard earned money with this institution. What a mess!
All banks have the same problem the thieves are getting smarter and even there own customers are sometimes are in the fraud
I’ve noticed a drop off in customer service more than 10 years ago. We are all used to a new person in customer service and we can tell. Generally, this doesn’t bother me at all. Unfortunately, USAA seems to constantly be training new people. My chances of getting hold of one of the old salt’ is about one in 20. I considered leaving USAA a few times, and this new story is another reason. Back when I originally became a, USAA member, customer service was good and the insurance rates were competitive. That certainly isn’t the case these days because I’m paying higher every time my premium renews with zero claims. While I understand how they establish their rates, I now feel I’m paying for the fines they had to pay the government. 🤨
USAA used to be the best insurance you could get but not any more. I left USAA 5 years ago for both insurance and banking. There service sucks! It is ashamed they treat service members and their families this way.
Doing this to military members is crazy
It's not as bad as what the US gov't does to veterans. Seriously.
I canceled them a long ago. CANCEL them!
I did too when I was deployed. Canceled EVERYTHING when I got back in country...
Me three
They need better fraud detection and protection. Banks need to do more. Customers should be able to request in person only wire transfers.
Sounds like a much better idea than anything else in place. Good idea👍 I like this
Bank customers also need to do more to protect their bank accounts. People get scammed every second. You would be amazed at what some fall for.
@@ocdidi93 as a customer you don't know where they get the information. Theirs been so many data breaches from major companies.
But yes people need to protect their information. And people need to check on their elderly parents/relatives.
They need honest employees that's what they need! And they need accountability when they do something wrong!
Its coming from in house
Listen people. Car and homeowners insurance rates are NOT based on your driving record or your never filing a homeowners claim. It's based on how many payouts the insurance companies have to payout across the country yearly. With all the tornadoes, hurricanes, hail and floods nationwide, THAT is the reason for increased amounts of policy payments. Don't believe me, ask your insurance that question. I found out by questioning "why my insurance rates increased with perfect 50+ years of no tickets, or accidents AND 25+ years of homeowners insurance and NO claims.
I asked my insurance company that very question. They said it was because of all the uninsured motorists getting into accidents. Makes me so mad!
Left USAA years ago...I dodged a bullet.
And this is why i started pulling my money out of the bank… i barely keep anything in my bank nowadays.. if someone was to get access to my bank. They would be very disappointed.
Where do you keep your money now? Ive heard dividend stocks are the way
@@canguskahn it’s a secret because scammers fraudsters and thieves are cunts.
When I was a young troop USAA would not accept me into their car insurance program because I didn't have enough rank for me to qualify. Ever since that day whenever I get anything in the mail from them I just trash it. Hate to see my fellow vets scammed but the lesson is get your money out and never do business with them again.
I belong to them for 29 years and dropped them when they didn't do their job once again. I lost over 12k approx due to negligence on their behalf on 2 separate occasions. Both were insurance issues one house and the second my stolen enclosed trailer. I would NEVER go back. I should have never started with them when their beginning was to provide service to only Officers then they allowed Enlisted at a later date. I found out Officers received a better rate with insurance then Enlisted just solely based on rank. USAA has went down hill in the past 10 years. Do yourself a favor and don't have one organization take care of multiple things in your home.
It's true. 27 years with them. My father a retired USAF Colonel. Officers definitely get better rates (50 years with USAA).
This company is a sham now.
USAA has really gone downhill. It's not the same organization it used to be years ago.
Nope, Wall Street GREED killed it.
USAA went corporate in the 1990's. In just a few short years, they brought-in industry executives who applied the same disgusting profit-driven tactics as everyone else. As in the national hospital system, insurance and banking have homogenized into the same pool of inefficiency and greed. I became a USAA member in 1978 and have watched their decline over these past decades. Their last good leader - from my perspective - was a retired General Herres (I think). But that was years ago.
Same here, member since 1978. USAA has lost their way.
FACTS.
USAA suks i left them when active duty. They treat you like a criminal
whats wild is, I have USAA, and they tried to scam me out of paying out for my insurance policy. Who the hell is better though? The horror stories everywhere else are worse.
Local Credit Unions are better, find out if you can use them/cards overseas, u can get personal with the employees makes an experience a lot better and if there is a Problem they maybe a few minutes away to explain in your face...My mother use to Bank at a local CU that only had 2 branches, and she use to say, I can see whom im handing my money over to is why, she was insistent on Staying Local....
Thank you for shining light on this and helping these people. Truly aweful.
Standing Salute to this news agency for standing for The People
Their customer service is HORRIFIC.
Thank The Lord that the problem solvers were able to start the repercussions for the members to get their money back. But my concern is, for as much training that they do to monitor if someone has suspicious money laundering activity on a person’s account, how was it that no one saw or was concerned that there might be something suspicious seeing such large & unusual deposits & withdrawals? I learned that over 20 years ago when I worked as a bank teller. Not only USAA but banks in general are not owning up to their own policies; and thereby, not protecting their customers. Which brings me to my next question: money laundering must still be the way for crooks to hide money from the government? Heck, the banks don’t see it either - smh🙄. I apologize, one more question: so what do the fraud department do🤨?
This stinks from the head down.. the FDIC and other federal agencies need to investigate. First the securities division were they were forced to sell of there investment house and now this ..
As a vet I had their car n home insurance for a couple years about 8 years ago til it got too expensive...n considered them this year, but am glad I never pursued them beyond thought.
Pray the affected are given comfort moving forward. 🙏
I sold life insurance over two decades….organizations like USAA, AARP and religious groups that sell insurance are usually more expensive than other options….if the company has a large advertising presence/budget you are probably paying more than you should…
Religious groups are always 10% higher. At least
Dang this is crazy. I’ve always heard great things about USAA. Good to get the warning. These financial institutions are scary
Nowadays banks suck. Avoid them. Use a local credit union in the town where you live. If a problem arises you can go there and speak with them face to face. The satisfying part is them knowing who your are when you walk through the door.
I have USAA, but thank the Lord I don't use them for anything. That's absolutely so sad that they would do their members like that.
Veterans need to go to Navy Federal.
Navy has gone down hill too, I dumped Navy for USAA. Now it is USAA
37 years at Navy Federal never ever had issues there. In fact, i never joined usaa banking since i had navfed. Just used usaa for homeowners and car insurance. I only buy my flood insurance through them now.
I also have Chartway and Penfed for other purposes.
Because they are immune to this?
There's a Ton of CU, around the Country that are Wayyyyy Better than Backwards AF Navy Fed, these Mofos will give you two answers Online and In Person and you wonder why, Duh me dont know is their Dumbfk Response...
Pentagon Federal!
6-3-24 Anch AK ...I am USAA member, +40 years ....will perform due diligence on this issues / events ....The commentary / analysis / news makes me worried , where there were NO WORRIES before ..! ! !
After 27 year, all I have left with USAA is auto insurance. I filed my *only* claim in 2021 and was treated like I was trying to commit some kind of fraud. I hired my own independent expert to take photos of my home, to send sample to a lab, create a report, and that is the only thing that stopped them in their tracks. They were going to go full-steam-ahead with the "you're committing fraud" story, despite the fact that I've paid them for 25 years and never once filed a claim.
I ended up canceling my renter's insurance, put my homeowner's with Foremost, closed my USAA Visa card, cashed in my CD, took all money out of savings except for $1 to keep the account open, and I will never again trust USAA.
Please do your due diligence and be prudent. I would hate for what happened to me to happen to you. My father was USAF Colonel. When Wayne Peacock became CEO in Feb of 2020, USAA went into a psychopathic tail-spin, which is how all this fraud is happening.
If you had any idea of the sociopaths I had to deal with during the claims process, and I'm talking about the Supervisors, not the regular claims people. It's no wonder they have inside fraud going on.
It’s really sad when local news stations have to fight for what’s right, I’m from Baltimore Maryland and we have I-team investigates
I'm pretty sure every major metropolitain media market with ABC News team has I-team investigates.
After getting hit with fraud 8 times in one year, I started moving money to others banks. It’s too much to try to trust them and they treat you like dirt when you need them, not there for their members like they say all the time.
I'm shocked! I learned so much today. I've been a little upset with USAA since they raised my car insurance rate based on my credit score taking a slight dip last year. True story! I hadn't had an accident or made a claim or missed a payment. Somehow Experian telling them my score went down a bit made me a higher driving risk (???) But I always had faith in their reputation as a secure place to bank and a place that stands behind those who serve this country. Both my parents are veterans and I convinced them both to open USAA accounts. This is disappointing and alarming. Good job, Mr. Darien, standing up for our veterans! You advocated for them with the institution they put their trust in which failed them... I can't believe USAA has become such a disappointment.
They have. Time to switch and BOYCOTT so they get the message and maybe change or go away for good !!!
You can thank your state officials for that. They’re the ones who passed the legislation to allow it. It should be illegal as hell.
Yes, in California where I live, the state does NOT allow them to check your credit for that reason. However, if you bank with them, they know your credit score anyway. It's criminal to charge people who are already struggling to pay their bills MORE money for a different product. smh
I'm really sorry they've treated you so poorly. It's no person. They're ruthlessly greed driven and morally bankrupt.
I have one too. Someone called into USAA & pretended to be me, somehow had my pin (which nobody knew & wasn’t written down), etc. USAA wouldn’t even give me any info. since nothing was taken. I even called the FBI to report it, to which I never even got a call back. I’m going through personal things that I believe it is/was tied to that. But USAA wouldn’t give me info, and never got a call back from the FBI.
The FBI doesn't care unless it's big enough to be on their radar, and even then, they just don't care. They'd rather spend their time making stuff up and going after people in witch-hunts and dick around rather than actually do their jobs.
FDIC just warned 63 banks are in danger of falling. FDIC!!!! I leave just enough in my bank for expenses. Everything else is invested diversified . This is just the beginning!!! Ever heard of a thing called bail-ins??
Who are the 63 banks ???
@@dreamcatcher5502 the 63 banks that Credit Suisse and Silicon Valley Bank merged?
Unfortunately, there are scammers hired by many companies that handle sensitive information. Major phone carriers have had similar occurrences, in which customers identity and money was stolen. We produce a lawless society by allowing any and every type of behavior, but somehow expect that the people from that society will all play by the rules.
the best part is at 1:22 where they used THE COUNTRY OF GEORGIA'S FLAG when they should of used the STATE OF GEORGIA, a simple mistake but come on, your people can't do a simple google search?
i saw that, too. how did they miss that? like, i know we don't have the best flag, but c'mon, man! lol
Ah! I knew it wasn't GA because I was stationed there for 4 years, but I didn't realize it was the country of Georgia!
Oh my gosh I wondered what that was. It looked like a Klan flag.
Probably don't know there is a country called Georgia.
I want to know why this isn't on the bank instead of plunked onto the consumers.
Because most fraud is due to customers giving out their info or taking part in it themselves. Rarely is it an inside job.
@@shawns4354 That's BS. Ho gaslight somewhere else. When the customer isnt at fault, the bank systems are the ones broken and liable.
I left USAA more than 20 years ago, so glad you all have covered their truth-the mistake is usually the private persons problems.
This really surprises me because USAA has always been great when we have had fraud issues.
I paid a hospital $596.68 in copays and they continued to bill me even though it had been paid in full. The hospital couldn’t tell me, my husband, or USAA where the money went, over the phone and in person with the billing department, not even the supervisors could tell us where the money went or what account it went towards. USAA recouped the money and the hospital will never get paid for it and they never will.
What’s sad is I’ve met other people with similar stories to mine with this hospital. I thought it was happening before but with $20, $30 copays it’s hard to prove. But with this one and its specific amount it was the final straw and proof I needed to find out what was up with this hospital.
But they want their Members to Pay ? WTH 🤦
What the what?? Of ALL banks, you would have thought USAA would have top of the line security and consumer protection! I mean, it sounds like USAA is saying "hey, other banks have fraud too, sooooo......" Wow. Way to go USAA. I used to promote you to my clients. No more.
One of the best local news report for a long time
I had this happen at 2 other banks before banking at USAA. I lost 10 of thousands of dollars with other banks. They refused to do anything. This is disheartening to hear it is now what USAA is doing to their members
They screwed me on car insurance they barely payed after a drunk guy sideswiped my parked truck and they charged more than any other quotes from regular auto insurance with the same plan details
Still haven't got payed for car accident going on 2 yrs
Thats terrible! And I was just getting ready to move my banking to USAA! NOT ANYMORE!!
I am glad USAA got their money back. They have been great to our family !
Honestly this is concerning but, the opposite from my experience. I had a piece of fraud around 2012-2013 and they called and resolved it for me. $800 dollar worth of transfers. Nothing like that since...
Turns out it doesn't cost anything to have more bank accounts. So I opened 6 more and compartmentalized everything. One account for food purchases, one account for monthly recurring bills, one account for personal expenditures, an overflow account for investments, some unused standby accounts for future stuff etc. And I never keep anymore in the bank than I need for monthly expenses. Everything else gets invested elsewhere. So even if someone got my debit card info from me buying stuff in public, they'd only be able to steal a few hundred dollars since there's never a need for more than that each month. I feel for the people who were taken advantage of. Hopefully everyone gets a little more cautious and less trusting of banks in general. Unless you're running a business you should never have $15k in a checking account. Hold gold/silver/bitcoin/physical stock certificates/US treasuries....Not cash. Oh and I almost forgot...guns/bullets are also better than holding excess cash. Their nominal value seems to keep pace with inflation, plus they have intrinsic value because they're useful for um....stuff 🙂.
Doesn't matter how many accounts you open, all banks are the same.
turns out? you had to investigate that bank accounts were free? lordy, schools are failing at educating kids on how to manage money. what you've done is create an unruly nightmare to manage all those accounts. good luck with that. Just find a bank that allows you to freeze your debit card within their bank app and freeze and unfreeze it as you make purchases
This reads unhinged tbh
@@ricovelas - If preparing yourself to NOT get robbed is unhinged, then yea I'm unhinged.
Shouldn't have to do all of that ........
No word, how it was done.
That was my thought also. How it was done can influence the bank’s decision. For instance, if a scammer tricks you into giving out the 6 digit 2FA code, then the bank is less likely to refund any stolen money because they’ll claim you didn’t do your part to safeguard the account.
@@randomstuff-qu7sh inside job?
Apparently you didn’t watch the video. They hired call center people who conspired to use account information they had access to in order to defraud customers. There isn’t a bank anywhere that can avoid fraud. Insider, outsider, even customer fraud; doesn’t matter. What matters is how hard they investigate and prosecute fraud. Every bank has this issue-period. This doesn’t appear to be corporate fraud as with Wells Fargo opening accounts by the thousands to make quotas set by tyrannical senior managers.
I could write a book on them...following my son's death...I just wonder how they treat young, newly bereaved widows.
Keep up the great work Darian! Hold them accountable. Been with them since the 90s and USAA has sure changed a lot in those years.