USAA Savings Bank Account Or Service Complaint

USAA Savings Bank account or service department,

(CD) Certificate of deposit Deposits and withdrawals New York

Three years ago, I opened a 36 month CD with USAA and a 36 month loan secured by my CD. The maturity date of the CD and the loan payoff date was - -, - Per agreement, funds from the CD would be eligible for withdrawal on - -, 2015, with any remaining balance on the secured loan to be paid from the CD with any remaining balance after deposited into my USAA checking account. On - -, 2015, I electronically signed into USAA to cash out the CD and pay the balance of the secured loan. Upon log-in, I discovered that USAA had already taken the loan payment from my USAA checking account, which resulted in an overdraft of appx. $7700.00. I then attempted to withdraw the funds from my CD to cover the overdraft, but the USAA system would not allow me to access my account. Naturally, I called USAA and informed representatives of the situation, and I made the following requests : 1. I asked that USAA please RETURN the $9500.00 they had TAKEN from my checking account and applied to the loan. USAA representatives could not ( or would not ) reverse the charge. 2. I


agreed that my account was overdrawn in error and that the loan balance should have been paid with monies from the CD against which the loan was secured, and they were BAFFLED as to why I could not access my CD or withdraw the funds, but they had no suggestions or apparent means of resolve. I was a told that the money withdrawn from my checking account was a systems '' issue and irreversible. I was also told not to worry '' as the system '' would return the overdrawn funds to my checking account by - - -, minimizing the possibility of more overdrafts. RESULTS:1. A negative checking account balance that could not be reversed by USAA nor covered by me, because USAA would not give back the $10000.00 I had invested 36 months prior with the good faith understanding that I could withdraw the $ - and accrued interest on the CDmaturity date of - -, 2015. 2. A secure loan DUE but NOT PAID because USAA had overdrawn my checking account and blocked my attempts to withdraw the CD funds that would have covered the overdraft and paid the loan amount due. 3. NON PAYMENT of four checks posted to my checking account that subsequently bounced, due to the overdraft CAUSED by USAA, and the REFUSAL on the part of USAA reps to reverse the overdraft that USAA made in error or give me access to the CD funds that were due to me that day. I will provide documentation with exact amounts and dates, if needed.