USAA will not honor ACH revocation! Help!!
Date: Sat, 09/08/2012 - 12:03
I was on the phone for over an hour with a USAA closing account specialist who kept telling me that they cannot honor my ACH revocation because it is an agreement with a payday lender and I agreed to it.
I explained that they are illegal in my state and even in the country and they still will not close my account. I was just hit with 2 NSF fees today. The bank says that after 45 days they will close my account and then come after me for NSF fees.
How do I get them to stop all this???
I even tried telling them about the federal law about revoking ACH and still nothing.
Please help!!!!
It's a saturday so you probably spoke with some disgruntled ass
It's a saturday so you probably spoke with some disgruntled ass who didn't want to help. You need to send your ACH revocation in writing to USAA's customer service email address. Let them know you refuse to pay any overdraft fee charged to you after receipt of the ACH revocation. I bank with USAA as well (secondary checking account albeit) and unfortunately the support sucks sometimes. Try to set up a savings account with them and link it to at least protect you from the big fees for now. This is the drawback of an online bank and why I use them as a secondary.
Also inform the USAA agent that the contract you signed with the lender is null and void as they are unlicensed in your state.
It has nothing to do with the contract being illegal...it all co
It has nothing to do with the contract being illegal...it all comes down to ACH revocation and that fact that consumers have the legal right to revoke ACH priveleges at any time per REG E, part of the FDIC. Do you have a branch locally? You really need to go in and talk to a manager. If you have to do it over the phone, you need a supervisor or manager and have a copy of the revocation that you can fax or scan/email to that individual. http://www.debtconsolidationcare.com/paydayloan/federalregulationsconcerning-achrevocation.html This is a copy of the regs.
Soaplady, USAA does not have branches. that is why the OP is for
Soaplady, USAA does not have branches. that is why the OP is forced to use the phone. They have a few small financial centers near large military installations (I think under 10) but that's it.
And I am well aware of this. However call center agents usually are not fully aware of regulation E rights. Telling them the contract you signed with the company is illegal will only help your case in getting them to listen. In fact call center agents for banks usually do not even have permission to revoke ACH privileges or do stuff like that. It has to go to a supervisor's desk who usually has to call in. When i used to work in the big call center i heard of this all the time.