another reason banks/CUs suck
 

So I have been a CU member for 11 years now. Since I don't live or work near the branch, I do most everything electronically. When I get physical checks, I deposit them at another CU branch, as they have reciprocity.

On 4Jan, I deposit a check from a small business, written to me, in the amount of $500. A few days later I check my online statement and see that the check was credited, then it was removed with the note, "altered check". They also assess $8 in fees. I call my CU to find out what is up. They say evidently the other CU thought the check was altered and denied it. Supposedly it will be sent back to me and I can bring it to my CU and see if they were honor it. So I have to wait 7-10 days for it to show up.

On the 10th day (yesterday), no sign of the check. I call the CU this am. I was previously told that if the check didn't show they could request another copy. I ask about that and find out a number of things:

a) they sent it to my old address, despite me calling to change address a year and a half ago when I moved. She asks, "well can you go see if you can find it?"

b) there is essentially no recourse to recover the $8 fees. Arbitrary decision by some bozo who opened the deposit envelope, and my bank would have to see the original check, determine that they made a mistake, then fight to get the fees back for me.

c) if the check doesn't show up, they can request another copy - at a cost of $5 for the check PLUS $10 per every 30 minutes spent "finding" the check.

d) they say I should just go to the issuer. I can do that, but he'll have to put a stop payment on the original check, which means I'll be out another $20 in fees his bank will charge

e) they wouldn't let me talk to a manager as she was "with a member right now."

So now I am supposed to drive to my old address, see if the new residents have my check (doubtful), then wait another 2 weeks to see if it gets back to my CU (doubtful), then try to get another check cut and sent to me (PITA) and in addition to my time wasted I only end up getting $472 deposited to my account instead of $500 due to the fees which I have no recourse in challenging. Oh, and of course I'm down $500 in my account balance while all this drags on.

About ready to close the account and go to my local Wells Fargo location. At least there they have an espresso machine and are friendly when I come in to get rolls of quarters...

I noticed about 2 years ago C/U changed for the worse, I don't know if it was due to the economic situation or what but they started acting like banks, indifferent, junk fees, zero consideration to long time members etc.

I have/had a similar situation when I moved down to LA from Nor-Cal. I was a long time member of a C/U, had direct deposit (they like that), zero debt with them, paid off several loans (so they'd made their money off my membership). Since then they've been a PIA and petty regarding any of my deposit checks that aren't from local banks/sources, use of my debit card here in So-Cal etc.

Initially they flagged my debit card usage as possible fraud because it was used at locations outside of their branch service areas. Seriously... I had a pretty frank and heated discussion with them about that, and they eventually added my current location to my "profile" so I wouldn't get the fraud verification calls every time I used my debit card down here.

Ironically, now when I visit my folks up north they would flag the card usage because it's outside my profile area even though it's local to their branch service area!!!

I had enough, opened up a USAA account and never looked back even though I still have the account with the C/U I rarely use it. They lost my business as well as the business of my family as they followed me to USAA.

I feel your pain Nostatic

USAA is the best bank I have ever dealt with!

Best,
Tom

I have accounts with 2 local credit unions. Opposite ends of the spectrum. One makes BoA and Wells Fargo look like good companies to do business with, the other actually provides a service and doesn't rape anyone on any fees.

my C/U (and others) got a lot worse after they started to expand

do everything in writing - fax or Email or paper, AND tell them you are angry and WILL sue them for the $8 in small claims court

they will think are crazy but it has worked before - can also provide some amusement for you

So USAA is viable in SoCal? Hard to find "branches" from their website. Looks like I can do banking with them even though I'm not a vet. Would love to ditch GIECO for insurance as well...not sure a CAC card and .mil email address would be enough. Does the "invite friends and family" extend to the insurance part of things?

Give them a call Todd, you'll be impressed on many levels. I don't know of another financial institution that is as tech savvy as USAA are in providing simple usability and support to their customers. The scanning checks into your account from home is just one example. They really do a great job of leveraging modern technology with their online systems without a need for a brick and mortar branch, second to none...

I feel your pain, but I just left Wells Fargo for similar indifferent customer service and high fees. You may be better off where you are.

Already signed up with USAA online. Set up an account, transferred some initial funds, and will transfer everything over once everything verifies. Thanks for the tips!

Well done! SmileWavy

Now I just have to sort out the missing $500 check...

did you send in a change of address to the PO? maybe it is still with them getting through the USPS mail system

Change of address has expired. I didn't renew as I thought I was getting everything and I've gone to paperless for almost everything anyway. It'll get sorted out - I'll just lose money and time with no recourse. Such is life...

Checks are a 16th Century idea.

I insist on a Electronic Funds Transfer (EFT), or direct deposit for everything.

Sure saves time and money for me.

Ditto on the USAA recommendation. Always have been very good to me.

Wells Fargo has plenty of issues also. Stay away! Citizens bank too!

I had a not so good experience with Wells Fargo over a credit card. It's a little off topic.

I had a W/F credit card with a low limit. $2,000.00 I used it for travel. When I would travel this was the only card I took with me figuring if it was stolen or lost it didn't have a high limit for anyone to run up. Last year we are getting ready to go to Disney I have my bookkeeper send in the payment to pay off the small balance so the card is clean for the trip. We go to dinner in downtown Disney with the friends we are with I offer to pay. Hand the girl my card. She comes back and says it was denied. That can't be try again. Same thing. So I pay cash. Go to a store with my little girl she asks for a souvenir denied. So I go outside call the 800# I get a an attendant on the phone ask them to check the account. She says payment received (10 days or so ago) zero balance. I say ok. so what's the problem? She says oh the account is flagged. What does that mean? She refers me to her manager. Rude person. He states the account was flagged as the check was suspicious. I said it is the same check you have been receiving for years. He then states well I guess they thought it wasn't any good and called your bank to verify. Your bank wouldn't discuss the account so they suspended your account until the check gets verified. I said the check cleared 10 days ago how much more verification do you need? He says yeah I see that I dont know what to tell you. I said re-instate the account. Hes says I can not do that. I say get me someone who can. He says no one can reinstate it until your bank verifies it. I then say so the check is cleared the account has zero balance and you need to talk to my bank to ensure the check is valid? He's says yes. I said close my account now. He takes my information and closes my account. He can not reinstate it but he can close it.

I had my bookkeeper overnight me another card the next day. PITA

I guess I have a good CU (San Diego County Credit Union). It's member owned (or is that normally the case?), I've been with them for at least 25 years and have had zero complaints.

Over that span of time I've made several errors which resulted in my being charged. As soon as I found out I called them, admitted to making the mistake and, considering that it was the first time I had made that mistake, would they please waive the charge? Bam, done deal.

Sorry that you're having problems.

I've been using Navy Federal CU since '89. Never had any issues with them. Plus they just opened up a branch here in town.

I have been a USAA member for 33 years. They are a good company. When it comes to my checking account and regular banking I still use a local credit union. The CU the I use pays 3.5% on my checking account.

I don't think you can go wrong with USAA. If you use them for insurance you will not have a local agent. Everything is done on the phone.