In the past i've been able to 'transfer' large amounts to/from other institutions 'linked' accounts such as my local Credit Union or Vanguard for example. It's been effective for years but no longer.
I recently aggregated a large amount of funds at USAA from other institutions with the intent of transferring it to my local credit union who will provide me with a no-charge cashier's check I can pick up in person for a closing I have scheduled....
Surprise - USAA now has a $5k limit on tranfers out. They gladly accepted large transfers in. Their solution is to either wire it or expedite mail a teller's check. And of course make fee on those solutions. (online initiated transfers have always been free and still are, albeit limited)
My short term solution is to complain loudly and insist on their waiving fees in this transaction. Either they will or they won't. I'll move on.
My long term solution is to possibly consider making the painful switch to a new provider. Based on my experience and expectations with USAA Am looking for:
- A good online banking solution
Free bill pay with option for recurring/schedule bills
Access to extensive online records, scanned checks, etc.
No limits or substantially higher limits on outgoing transfers
Can act as a 'hub' between other institutions such as Vanguard, my local CU, etc.
Free checking for the extremely rare paper check
Free ATM including refund on ATM fees
Excellent telephone customer service w/ extended hours
Maybe the medium to long term solution is to start linking all of my other institutions to VG and use that as my 'hub' and USAA becomes more peripheral.
Like to hear others comments on good / bad experiences with online banking!