I came home after Thanksgiving to a mailbox full of junk. Luckily, I noticed the two nondescript letters from USAA, each just a single page message saying they are closing my accounts in 30 days: the first one listed both my checking account and my savings account; the second listed the two credit cards that I have with them. In total, they are closing every service that I have remaining with them. About a month previously, I transferred my auto insurance away from USAA when I received a much better packaged rate with my homeowner's insurance company. I assume this current predicament is in no way retaliatory.
I have had these accounts for for my entire adult life. My pay is direct deposited there. My utility bills are sent electronically to and paid from those accounts. My reoccurring billing is setup on these accounts. Transfer everything without missing something is going to be a not so fun task.
I have not been able to get any information about why this is happening. The letter just said that this is allowed under the depository agreement. In fact, I have received no other communication about this, nothing physical nor any digital information on my online account. When viewing the online account, there is no indication anything is even happening at all. There was no warning this might happen. When I speak to representatives they tell me to hold for 2-3 minutes, just to come back after a much longer hold to say that there are no details listed. I escalated to an Executive Resolutions Team member who similarly underestimated the hold duration before telling me she cannot tell me anything. When I pressed for an explanation I was informed that this is a business decision by some some unknown behind the scenes actors and she cannot tell me any of the details. I was offered the consolation that my feedback on the issue has been recorded (that's nice~).
This is the part that concerns me: I am not sure if she cannot tell me because she doesn't know, or because she is prohibited from doing so. I feel like I was rather cordial but continued to express my concern/confusion about what could have lead to this termination which lead her to offer a suggestion that it may have to do with something uncovered about my background. I don't know if this was purely speculation or some insight being passed along in disguised. She offered a criminal record or arrest history as possibilities, neither of which are applicable. I have no bounced checks, late payments, etc..., or even fraudulent purchases from my accounts. No known identity theft. So what was in my background that they found? I asked, no answer was available. The people who made the evaluation are off limits, cannot be contacted. I feel like I am in a movie trying to get access to the Men in Black or some Greek peasant trying to gain an audience with the gods.
Do I need to be worried about some illicit activity being done with my identity? Do I need to be worried about future banking issues with existing or new accounts? Will the accounts closing affect my credit drastically? I have a secondary (now primary, ha) checking account and other credit card accounts. I have a mortgage that is only 3 months old. No one else has thus far had any issues.
Any recommendations on how I should go about replacing the utility of the closing accounts (e.g. web bill pay)?
Submitted December 10, 2019 at 07:15PM by wingod https://ift.tt/2E2vwYC
