Wells Fargo or USAA? (insurance, mortgage, credit)

[SAFD_Wife]

We are currently members of SSFCU for our everyday banking (and we LOVE it BTW). We are looking to diversify some funds, and really want honest opinions on Wells Fargo and USAA. How is customer service? Ease of conducting business? Access? Our mortgage was recently sold to Wells, which gives us some added benefits with them. If anyone has an experience with either of these companies in regards to long term savings plans and intermediate savings plans can you let me know what you think?

I appreciate it!

[mrsb057]

I have a range of products with USAA from auto and life insurance to banking. Customer service is 5 stars all the way. They are not only polite and friendly.. they are there to educate you as well. Been with them for years wouldnt have it any other way.

I've had products with other companies and i tell you the hold times and moronic drones that answer the phones are no pleasure i would much rather call a company that will address me by my name and manages to take the time to thank me for my membership. USAA is also quick to address your concerns whether is it by phone or email. Their website is very user friendly.

Hope the info helps. DM if you have questions

[rd2007]

usaa used to only serve officers and shunned enlisted people (Military.com - Finance - USAA Expands its Membership Eligibility). It took them 74 years to accept enlisted personnel! and that's reason enough for me to never support them.

[Willsatx]

Originally Posted by mrsb057

I have a range of products with USAA from auto and life insurance to banking. Customer service is 5 stars all the way. They are not only polite and friendly.. they are there to educate you as well. Been with them for years wouldnt have it any other way.

I've had products with other companies and i tell you the hold times and moronic drones that answer the phones are no pleasure i would much rather call a company that will address me by my name and manages to take the time to thank me for my membership. USAA is also quick to address your concerns whether is it by phone or email. Their website is very user friendly.

Hope the info helps. DM if you have questions

Boy is this far from what I have seen the last few years, I have been a member for over 22 yrs. But lately all they do it sell sell sell, called to do a transfer since I was at an airport and they wanted to know why i was making a transfer, why I did not do it online. I was so pissed since the touchline is crap, and informed him to just do the transfer and more questions. I have moved all my services out of there, and only have a checking acct that I am ready to close.

But I opened an acct at IBC and its a free checking acct plus they have them inside the HEB by my house. That is working good for me so far.

[perticusrex]

I have a few things thru Wells Fargo and I have had a few bumps in the past 4 years, but overall the customer service is pretty decent but there seems to be a fee for everything. I noticed they aren't going to recommend anything that actually saves you money. I had to inquire about certain things in order to maximize my savings, rather than them actually suggesting. But its a bank....what do ya expect?

[hello13685]

Maybe it's all banks that do this, but I agree with perticusrex that Wells Fargo will intentionally NOT tell you how to adjust your accounts to take advantage of the best rates, etc. You have your money transferred to one savings account with a higher rate, and then, seriously, every two months your rate drops and you have to ask, and then they tell you "Now our highest interest account is the XXXXX account." You let them change it again, and the same thing happens in a couple more months. You're basically chasing an interest rate because they are constantly creating new account names to dodge paying you anything. It's very annoying.

[stoneoak]

I avoid Wells Fargo at all costs...have had friends and coworkers who have had quite a number of problems with them.

[TXtrkgrl]

Originally Posted by hello13685

Maybe it's all banks that do this, but I agree with perticusrex that Wells Fargo will intentionally NOT tell you how to adjust your accounts to take advantage of the best rates, etc. You have your money transferred to one savings account with a higher rate, and then, seriously, every two months your rate drops and you have to ask, and then they tell you "Now our highest interest account is the XXXXX account." You let them change it again, and the same thing happens in a couple more months. You're basically chasing an interest rate because they are constantly creating new account names to dodge paying you anything. It's very annoying.

I have the opposite problem. I have two checking accounts and two savings accounts with Wells Fargo. Everytime I go in there they are trying to change my accounts to make me more money. I'm sure I should do it but I am happy with what I have.

The only fee I am charged is the $25/year for a line of credit. I have free online bill pay, free checks, free money orders. They are always very nice when I go in the bank, this may be because I bank in my small hometown and they know me.

No experience with USAA.

[pobre]

We, too, used to use SSFCU (still do, on occasion), but we mainly use USAA. Top notch customer service, great website, never had an issue. While we have paychecks directly deposited, I use their "deposit at home" feature to deposit any checks we receive (you simply scan front and back of check to deposit). Great (and free) web billpay, easy transfers. Free checks. I use Quicken for all financial tracking, and USAA allows me to download my banking transactions directly into quicken (SSFCU, TTBOMK, still does not.)

As for investment accounts, we use both USAA, and FIdelity. I am, however, planning to move the control of the Fidelity funds to USAA, possibly even the funds themselves. Again, great website.

My kids have the prepaid mastercard debit cards, and I control them from the website. They are not linked to their bank account, but we add funds when they need it.

I can honestly say that I have never been to the (USAA) bank!

[BenjaminNicholas]

rd2007: Why, if USAA is a private institution- much like any private membership club out there- does it irk you so much that they only catered to officers? It's perhaps not the best PR decision, but it's their prerogative. My family has been with USAA for over 40 years and I cannot recommend them enough. Like others have said already, they not only handle your money and investing well, they really try to EXPAND your knowledge of where that money is sitting.

What I see as a future problem is that in wanting to expand their business venture, USAA is making it too easy for far too many people to qualify for membership now. Much like a credit union that takes on too many customers, it affects overall rates and customer service quality. While USAA is still a MASSIVE step up from someone like Skank of America or Wells Fargo, I would say that they continue to change like all banks out there and that needs to be taken into account in your decision.

The only good thing I can say about Wells Fargo is that their banks make me want to sing The Music Man when I pass by them.




BN