USAA fraud closing accounts...

[belleama]

Okay question. If the fraud department closes your accounts due to "suspicious deposits" do they put you in chex?

[CreditMcNugget]

I thought chex was only for non-paid bounced checks or significant overdraft in your checking account.

 

I could be mistaken, though...

[Steve_]

What's a suspicious deposit? If you're bouncing checks or floating and one bounced...then yea, they might.

Edited July 2, 2008 by Steve_

[CreditMcNugget]

Possibly an unexplained deposit. For instance, if you don't usually deposit large amounts in your account and then suddenly make several large deposits (or deposits over $10,000 - which are reported to the IRS), you can be flagged.

[belleama]

There have been several large deposits into my account. They locked me out. Requested identity verification (DLs, BCerts, and SS cards) for myself, DH, and dd (DD is a minor and DH does not have any accounts with them).

 

Today they say that my accounts are being closed as of 14 July due to "suspicious deposits." So I'm worried now if they are going to flag me in chex as having fraudulent accounts or something.

[hegemony]

what means were the deposits made? I ask because I was considering sending them some of our deposits...

[persevering]

Possibly an unexplained deposit. For instance, if you don't usually deposit large amounts in your account and then suddenly make several large deposits (or deposits over $10,000 - which are reported to the IRS), you can be flagged.

 

I never realized this could be a problem. What kind of difference between "normal" and "large" are we talking about ? Would it make any difference to call a bank ahead of time prior to making whatever it is that a bank would regard as "larger than usual" ?

[belleama]

what means were the deposits made? I ask because I was considering sending them some of our deposits...

 

Deposits were made by DH using the CC advance feature from his Wachovia debit card. A deposit was made via Paypal. The last deposit was made by check mailed into the branch.

 

The deposits were not really "large" to me. But maybe there was some kindof 30 day overlap that made the last month look crazy large. I don't know since I can't see anything and they won't tell me anything.

[Nummerkins]

Never had a problem with large (70k+) deposits via mail or ACH. Also deposits over $10k are never anything you need to worry about (it's the bank's business). My guess is something else triggered it.

[belleama]

Never had a problem with large (70k+) deposits via mail or ACH. Also deposits over $10k are never anything you need to worry about (it's the bank's business). My guess is something else triggered it.

 

Can you call them and ask them what it is? I really want to know. I've been locked out of my accounts and without my money since wednesday. Having to borrow money to move and eat is really NOT the business where I come from.

[Nummerkins]

Never had a problem with large (70k+) deposits via mail or ACH. Also deposits over $10k are never anything you need to worry about (it's the bank's business). My guess is something else triggered it.

 

Can you call them and ask them what it is? I really want to know. I've been locked out of my accounts and without my money since wednesday. Having to borrow money to move and eat is really NOT the business where I come from.

 

Honestly I'm not sure. There was a thread on FatWallet about someone who got sent into the USAA fraud-dept black hole. Don't want to discourage you, but they would not tell him anything and it's very difficult to talk to them. Maybe a letter to your state's attorney general or the office off the comptroller of the currency will get the ball rolling. Can't hurt to try and talk to them though! Ask for supervisors, etc. If some bank locked up my money, I'd be on them 24/7 until it was resolved.

Edited July 2, 2008 by Nummerkins

[LBCS]

I am not sure if things have changed, but I used to have a Performance First account with USAA my deposit balance went as high as $200K at one time (since they were offering 6% plus) - and I did not hear a peep.

 

I stopped using them for interest paying accounts since Jan and have just credit cards and checking accounts.

[LBCS]

What?

 

That is horrible - how can any bank do that? Can you ask them to at least partially unfreeze some amounts?

 

Never had a problem with large (70k+) deposits via mail or ACH. Also deposits over $10k are never anything you need to worry about (it's the bank's business). My guess is something else triggered it.

 

Can you call them and ask them what it is? I really want to know. I've been locked out of my accounts and without my money since wednesday. Having to borrow money to move and eat is really NOT the business where I come from.

[belleama]

Never had a problem with large (70k+) deposits via mail or ACH. Also deposits over $10k are never anything you need to worry about (it's the bank's business). My guess is something else triggered it.

 

Can you call them and ask them what it is? I really want to know. I've been locked out of my accounts and without my money since wednesday. Having to borrow money to move and eat is really NOT the business where I come from.

 

Honestly I'm not sure. There was a thread on FatWallet about someone who got sent into the USAA fraud-dept black hole. Don't want to discourage you, but they would not tell him anything and it's very difficult to talk to them. Maybe a letter to your state's attorney general or the office off the comptroller of the currency will get the ball rolling. Can't hurt to try and talk to them though! Ask for supervisors, etc. If some bank locked up my money, I'd be on them 24/7 until it was resolved.

 

That sounds effin HORRIBLE!!! *sigh*

[hegemony]

Belleama...here you go:

 

Office of Thrift Supervision (OTS)

Consumer Program Division

1700 G Street, NW

Washington, DC 20552

1-800-842-6929

consumer.complaint@ots.treas.gov

[belleama]

Belleama...here you go:

 

Office of Thrift Supervision (OTS)

Consumer Program Division

1700 G Street, NW

Washington, DC 20552

1-800-842-6929

consumer.complaint@ots.treas.gov

 

Thanks Heg. I'm on the phone with them right now.

[toopooor]

Deposits were made by DH using the CC advance feature from his Wachovia debit card.

 

This is why they need his ID too.

[persevering]

[...]

 

Honestly I'm not sure. There was a thread on FatWallet about someone who got sent into the USAA fraud-dept black hole. Don't want to discourage you, but they would not tell him anything and it's very difficult to talk to them. [...]

 

Is this the thread that you were thinking of ?

 

http://www.fatwallet.com/forums/finance/753488

 

If so, that person later on in that thread reported that he finally found the right person:

"The original investigator with whom I dealt was a stubborn imbecile. He rarely returned my calls (which I placed on a daily basis) and was rude and accusatory whenever we did speak. At some point during the investigation, the case was transferred to another investigator. She was very thorough and treated me as a valued customer throughout the process. [...] She promptly returned my calls and ensured that daily progress was achieved."

[belleama]

[...]

 

Honestly I'm not sure. There was a thread on FatWallet about someone who got sent into the USAA fraud-dept black hole. Don't want to discourage you, but they would not tell him anything and it's very difficult to talk to them. [...]

 

Is this the thread that you were thinking of ?

 

http://www.fatwallet.com/forums/finance/753488

 

If so, that person later on in that thread reported that he finally found the right person:

"The original investigator with whom I dealt was a stubborn imbecile. He rarely returned my calls (which I placed on a daily basis) and was rude and accusatory whenever we did speak. At some point during the investigation, the case was transferred to another investigator. She was very thorough and treated me as a valued customer throughout the process. [...] She promptly returned my calls and ensured that daily progress was achieved."

 

Thanks for the link. I'm going to read up on this. I hope he got his accounts reopened.

[persevering]

Thanks for the link. I'm going to read up on this. I hope he got his accounts reopened.

 

The other thought that I had is that you could try sending an email or PM to the person in that thread to see if (s)he still has any contact information the (s)he can recommend/share; his/her last post was around April of this year, but hopefully (s)he still actively reads/visits the site.

 

Meanwhile, I tried checking creditboards and fatwallet for any executive/ivory tower contact information and have not found anything so far.

 

But .. I remember a tip that another way to find executive office information such as names and phone numbers is to look up the SEC filings; with USAA, I'm not sure how to do that on the internet but maybe a local library or university library might have certain special online access to that kind of information.

Edited July 2, 2008 by persevering

[Nummerkins]

pers yes that's it, thanks for posting the link

[belleama]

I called USAA again today. They are saying it is official my accounts will be closed on the 14th and there is nothing that can be done.

 

I spoke to a woman at OTS, as Heg suggested, and they are saying that banks can just place your funds on hold and close them as they see fit. But they will do an investigation after I send in a letter with all the details. Not sure how it will help but I will send the letter.

 

So its over. Three years of working with this bank are over because someone didn't like something in my account and didn't want to tell me what it is. Fantastic.

 

So does anyone know if they will now be putting me in chex under account abuse or fraud or something?

[LBCS]

This sucks.

 

If you don't mind me asking, what were the ballpark figures of the amounts that were deemed suspicious? Did they claim you were kiting, by any chance?

 

I called USAA again today. They are saying it is official my accounts will be closed on the 14th and there is nothing that can be done.

 

I spoke to a woman at OTS, as Heg suggested, and they are saying that banks can just place your funds on hold and close them as they see fit. But they will do an investigation after I send in a letter with all the details. Not sure how it will help but I will send the letter.

 

So its over. Three years of working with this bank are over because someone didn't like something in my account and didn't want to tell me what it is. Fantastic.

 

So does anyone know if they will now be putting me in chex under account abuse or fraud or something?

[5ofus]

I don't know if you'll end up in Chex for anything .......... but I'd open another account somewhere ASAP just incase.

[shorty]

I called USAA again today. They are saying it is official my accounts will be closed on the 14th and there is nothing that can be done.

 

I spoke to a woman at OTS, as Heg suggested, and they are saying that banks can just place your funds on hold and close them as they see fit. But they will do an investigation after I send in a letter with all the details. Not sure how it will help but I will send the letter.

 

So its over. Three years of working with this bank are over because someone didn't like something in my account and didn't want to tell me what it is. Fantastic.

 

So does anyone know if they will now be putting me in chex under account abuse or fraud or something?

 

Sorry this is happening to you Belle. I think the more burning question is when will they be cutting you a check....