USAA Bank ??

bugsiegel

bugsiegel

Senior Member
Have a guy interested in buying my truck. He wants to pay with a USAA bank check. He has agreed to allow the check to clear but if it's real I don't want to hold him up either.

I'm not a military guy and never heard of this bank. Anyone?

What is the best way to verify? He has offered his employment info, will provide the bank's contact info and a copy of the check while it's being mailed to me.
There are some sophisticated schemes out there, don't want to take a hit.

Thanks in advance.
 
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bugsiegel said:
Have a guy interested in buying my truck. He wants to pay with a USAA bank check. He has agreed to allow the check to clear but if it's real I don't want to hold him up either.

I'm not a military guy and never heard of this bank. Anyone?

What is the best way to verify? He has offered his employment info, will provide the bank's contact info and a copy of the check while it's being mailed to me.
There are some sophisticated schemes out there, don't want to take a hit.

Thanks in advance.
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That Bank is for real.My son is an officer in the Navy and that is his bank.No worries.
 
Best is electronic wire. Open a new savings account at your bank and let him wire you the money. No doubt when you get the money and no waiting either.
 
USAA has their headquarters hear in San Antonio but they are mostly insurance based. They are getting further and further into financials now days. The check will clear if he has the funds in there. It doesn't take long to clear it on your end.

USAA used to be for officers in the military only but have now extended their coverge to the extended families of officers. I was an enlisted man but I qualify because my Pop was an officer during WWII.
 
I agree w/ mrtexas. I've done a number of transactions via wire transfer. It usually takes about 30 minutes for confirmation to occur and can be done from anywhere in the world, literally, with a phone call. All you need to do is talk to your bank (a 5-minute conversation) in advance.
 
mrtexas said:
Best is electronic wire. Open a new savings account at your bank and let him wire you the money. No doubt when you get the money and no waiting either.
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You need to be aware that a wire can be recalled within the bank day.

I too have dealt with USAA the bank is not an issue, other than there are next to no branches. A bank check should clear very quickly though.

Things are such that there is no good answer. I have a seller waiting to make sure my postal money order clears. I was miffed at first but then I recalled that there are counterfeit money orders out there.
 
Maybe try asking this same question(s) at your own bank. I've had good luck at my own bank, and they have been able to tell me if a check is 'good', sometimes way in advance of the 'so-called-long-wait'. JMO
 
I sold a motor scooter via wire transfer and the time to receive the credit varies. In my case it was a little over 24 hours. I thought it would be instantly, but not so. Check with your bank to see how long it takes for a wire transfer, but regardless of the length of time I would prefer to go wire again.
 
I have been with USAA since 1963 and I trust that company as I trust my family,enough said!
 
I remember a segment on 60 Minutes, probably 10 or more years ago and it was titled something like "USAA - The Biggest Bank You Have Never Heard Of." It went on to tell how great the company is, etc. I have been a member of USAA since 1965 and can confirm that it is the best company that I do business with.
 
My wife's dad was an officer in the Air force and was a USAA member. We got signed up with USAA many years ago(40+) and they are a great bank.
 
The bank is good, but what about the customer? Just because you are a good bank does not mean that all your customers are on the up-and-up. If you wait for the check to clear, it should be okay.
 
If you both have an account with the same bank he could transfer funds into your account through his banker. Slick deal & no risks.
 
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