Stephen Morgan sent a message to Stuart Parker that said:
I was pleased to get an RV loan from USAA Federal Savings in 2015. The interest rate was great and the loan application was painless.
Unfortunately, since then I have spent too much time making calls to customer service and writing letters.
In May I sent a check to be applied to the principal on the loan. I stated on the check it was "For Principal on Account XXXXXXXXXX. The only account I have with the bank is the RV loan. Further, I enclosed the check in a letter asking the bank to "Please apply the enclosed check....in the amount of $5,000, to the principal on my Recreational Vehicle Loan, Account Number XXXXXXXXXX."
They did not apply the entire amount to my principal! Two phone calls later, I was assured it would be taken care of. I do not understand the method they used to supposedly rectify this, but I only has twelve hours of accounting.
I have now received two letters from the bank explaining how I should write " apply to principal" on future checks. Do I need to send instructions in Braille? They obviously have a problem reading my checks and letters!
I used this loan as a test of USAA's abilities. I am not impressed.