BBVA Compass Bank / excessive nsf fee
I made the mistake of not maintaining my checkbook register for a week. In that week I charged $366 using my VISA debit card. I do not dispute those charges, but I have a real hard time with the $805 dollars in NSF fees they charged me.
When I discovered my mistake I immediately drove to the bank and sat down with a bank rep to see what can be done, if I could get relief or something. She told me they could give me relief because A bank in Abilene TX had a charge off under my SSN. I've never had a bank account in Abilene, I spoke to my ex-wife and she said she had an account but I wasn't on it, not on the signature card or any other way.
During this week I deposited $513.77 in an attempt to keep my account in the green. Unfortunately because compass charges a $38.00 NSF fee I could not keep my account in the green.
Needless to say I am extremely mad. If I charged 2262% for lending money to a friend I'd be convicted of usury (this is the percentage of NSF fee charged to one debit).
I'm interested in joining a class action lawsuit against Compass for usury like practices. From what I've read NSF fees are not considered usury, but maybe excessive NSF fees can be tied into usury without actually filing for usury. If anything, all members of compass should know how ridiculous banks have gotten on their NSF fees.
I'm in the process of closing this account, I'll send all my money to my credit union (which offers overdraft protection without an NSF) or pay a 1% check cashing fee to cash my check at the money box and stop using banks at all.
Contact me, I'm sure I can draw up some more support, I have a customer database of 300+ individuals, who also know more people. If we can't get this corrected, the bad press might effect Compass' bottom line
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