Consumer complaint received 2016-05-10
Company: UNITED SERVICES AUTOMOBILE ASSOCIATION
State: OK
Product: Bank account or service
Sub-product: Checking account
Issue: Deposits and withdrawals

Complaint:
We received a check Friday XX/XX/XXXX from the sale of our house. Prior to depositing the check we called and asked how long the hold would be and what % it would be the rep stated they would n't be able to tell us. We tried to deposit the check but it would n't deposit through mobile deposit ( the only option when depositing in OK currently ). We called back and after some discussion the rep advised to add the amount as lower in the app than the total amount to allow some of the funds to deposit right away. Because of this only XXXX showed up of the XXXX with about XXXX available. On Mon XX/XX/XXXX we called and a rep was able to manually add the other XXXX and stated it should show up in the account overnight. We again asked how long and what % the hold would be the rep advised they did n't think there would be a hold since the amount was being changed manually. On the morning of Tues XX/XX/XXXX we saw the XXXX was in fact added to our balance but only another XXXX was made available leaving about XXXX % of the original total on hold. We called first thing in the morning and spoke to a rep about the hold. They advised the hold was placed due to our account history and the size of the check. We asked if there was a way to verify the amount was good with the other bank to remove the hold faster as it is essential more of the money be released, but the rep advised the hold would remain until XX/XX/XXXX & XX/XX/XXXX for the amounts no matter what. We requested to speak with a supervisor but were advised one was n't available and would call us within 24hrs. We called back again that morning due to the urgency of the matter and spoke to another rep that stated there was no one who could remove the hold and we were basically wasting our time. We stated several times that we understood them holding some of the money but had never had XXXX % of a deposit held before and felt the hold amount was excessive. We again requested to speak with a manager and were told one would call back within 24hrs. We advised we could n't wait that long as this was an emergency for us and indicated we could wait until a manager became available. The rep placed us on hold but when they returned they again stated no manager was available but they would try to have one call back as quickly as possible. While waiting for a manager to call we reviewed USAA 's deposit regs and the Fed Reserve guidelines. While they show that a hold can be placed on deposits over XXXX it appeared that the first XXXX should still be available within 2 business days which would be today XX/XX/XXXX. The only exception I could see that would possibly apply was the section regarding accounts overdrawn for 6 or more days in the last 6 months, but the only time in the last 6 months that I know of our account being overdrawn was when there were fraudulent charges on the account which USAA confirmed as fraud and reimbursed us for. I called again as we had n't heard from a manager yet but the call with the first rep I spoke with disconnected from their end after a hold. When I called back I advised that I felt the amount being held was in violation of fed reserve guidelines and I wanted to give them a chance to resolve the issue prior to making a complaint but was told there was no one who could alter the hold. This time they stated that the way the money was deposited ( it was deposited as instructed by a usaa rep ) was what resulted in a hold that no one could remove. We believe USAA placed more of our funds on hold than they should have and failed to adequately address our concerns. At this time we still have n't heard back from the manager who was supposed to call back.

Company public response: Company believes it acted appropriately as authorized by contract or law
Company response to consumer: Closed with explanation