USAA Federal Savings Bank has an undeserved reputation for being the best bank in America. This good standing derives from the high level of service and low cost it once provided to active and retired US Service men and women and their families.in the past few years they have lost the plot entirely and have become even worse than the average American bank in terms of service, fees, ethical treatment of customers and reliability.
Case in point, I send wire transfers on almost a daily basis to pay my company's suppliers and contractors. I have been generally pleased with their service. However about one month ago the one competent, friendly and reliable bank staff in the wire transfer desk left. Since that time an employee, Janie Vasquez, has taken over and service has plummeted. Transfer requests are ignored, the bank refused to trace or provide useful information regarding the status of transfers that do not show up at the beneficiary's bank, urgent messages go without replies, the employee refused to advise me of the name of her superior, and all this at twice the cost per wire of some other larger banks. On the last occassion the failure of the bank to trace a wire cost me over $7,000.in lost customers, and associated costs. I have sent the bank president a letter but in the past this has accomplished nothing.
0 comments