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BBVA Compass Bank / non-sufficient funds charges

1 Jackosnville, FL, United States Review updated:

Compass Bank has charged my account about $250 in overdrawn charges stemming from an oversight that led to a $3 negative balance. By the time I saw the first $38 NSF charge, my online account information showed that a trasfer wire deposit had posted and the account was no longer negative. What I did not know is that a small debit charge posted before the deposit, thus another $38 was charged. By this time, I had used my debit card twice more for small transactions, thinking I had a positive balance to cover them. Requests to remove all but the first charge were denied. I have refused to cover the negative balance of the account since all of this is due to ridiculous NSF charges. I have another checking account with Bank of America, so Compass can have their account, but not my hard-earned money!

Ja
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  • Va
      3rd of Dec, 2008
    0 Votes
    BBVA Compass Bank - Awful bank
    CompassBank
    United States
    compassbank.com

    I am a wholesale merchant in Texas. I had Texas Bank (never a problem) until Compass took over. At the first of 2008 I had a hot check written to me from a company in california. Compass delayed in notifying me. I went down to the branch myself to find out why my account was in overdraft. At the time we did not have online banking, also at the same time i had a company illegally using my debit card number. Compass told me they could do nothing about the illegal use of my debit card number that I would have to contact the company myself to stop this abuse which I did but had to still pay the INF charges with Compass, The company that was abusing the use of my debit already had a class action suit against them for abuse but Compass was not interested in my findings just wanted the INF charges' but back to my overdrafted account. I soon found out about Compass's deposit posting after 5:00 only policy. It was in a banking nightmare trying to keep my head above water. My company is a wholesale design company. All of our sales are online credit card sales. it is not unusual for me to have 15 debits a day in my account. Soon we had racked up over 4000.00 dollars in check charges even though I always had a deposit waiting to be posted on the same day. I sometimes even had a large deposit I had from visiting shops sales I would deposit as early as 7:00 am and then have a automatic draft come in several hours later and they would still charge me. You might ask why in the world did you not change banks? It is not easy for a merchant like me. I have much of my bills set up on automatic drafts and also with most of our sales coming in by the merchant account it just was not that easy. also I was working 12 hours a day trying to keep up. Compass contacted me to see if I wanted to use them to process my credit card transactions. I was using a different credit card processing company and Compass assured me they could offer me a better deal and get my deposits in overnite so I said ok. We have used Compass the past few months everything going fine until a week ago tuesday. We received a large order from one of our regular customers . this customer always orders around the same amount. it is an expensive order to do. We completed the order called the customer to tell him we would be charging his credit card. he gave us the ok to charge the card . We charged his card it was approved as always and transmitted to our account the next business day and posted as an available balance. We have online banking with compass. I wrote my payroll checks. my employees went thru the drive thru window and cashed their checks. Next morning I come in and my account is overdrawn. Compass had taken it upon themselves to take this large deposit (over 3000.00)out of my account without even the courtesy of a phone call . There reason, none actually except it WAS NOT because the customer disputed it. They wanted more info which I provided. He after all was one of our oldest customers never a problem with his credit card. My account was going into severe overdraft. They did not care. They kept telling me they were going to put the funds back into my account and credit the fees. I told them to call my customer. They would not. They would not call us back . We most of the time had to call them. We called our local branch which did side with us and was working very hard to get us our funds back. The reason they finally gave us was that we had a 2000.00 limit on what we could charge. I was not told this when we signed up with compass. In fact I made it very clear we could not have a limit and had to fill out extra paperwork to prevent it. we do have a signed contract they keep throwing up to us that says average sale assumptions to be between 300 -2000 but nowhere does it state a limit. To end this nightmare story I have a very expensive to produce wholesale order that cannot be paid for. Compass will not even let me charge 2000.00 on this customer or let him put it on 2 separate cards or pay for it in 30 day intervals. I am a good merchant with no negative reports on my business . My customer has a perfectly good card approved as always. What do I do . The customer wants the merchandise charged to his card. I do have my old merchant account still active but has not been used since i started using Compass. However Compass informed me I could not use my old merchant account because it is illegal to have 2 merchant accounts. Is this true? I had close to 900.00 worth of Inf fees because of this. My branch did refund 683.00 due to the district manager getting involved and the hard work of another caring individual in my branch . I feel all my check charges should be refunded. All this stress and major problems to my small business. Why? What can I do ? Any suggestions out there? I am tired of being stepped on by Compass Bank . I do not feel like we did anything wrong. Is there no justice for the little guy?

  • Oj
      11th of Aug, 2009
    -1 Votes

    The available balance only shows your balance based on the transactions the bank is aware of. If other transactions come in, obviously, they will impact your balance. Only you know what transactions are still outstanding, so it's important for you to include those transactions when determining your balance. BBVA Compass Bank has no way of knowing what items you still have outstanding on your account. BBVA Compass Bank is a financial institution and not a charitable organization. You are lucky they did not refuse to pay your items, therefor, you would be charged by the bank and the merchant. Learn how to keep a personal ledger of your transactions to avoid this in the future.

  • Br
      11th of Aug, 2009
    +3 Votes

    I'm in the same boat that you are. I have someone or something that has obtained my bank account information and they ( Compass Bank) is steadily charging me NSF fees. I have even went as far as cutting off my bank card so that it can't be used and I still have fees coming in. So, I have went and opened up a new bank account so that I don't have to deal with their bull-crap ways no more.

  • Gh
      11th of Aug, 2009
    +3 Votes

    I CLOSED my account in June. Just found out it was NEVER CLOSED and is accruing fees... for what, I couldn't tell you, I have not used the account since a month before it was closed and when I closed it, I had to cover OD fees that were not legit at all and bring it to a positive balance... so I walked out of there thinking I had an 87 cent credit after paying $400 in fees and now I find out the account was NEVER CLOSED AND I OWE THEM OVER A GRAND IN FEES???? Bull crap...

  • Lv
      11th of Dec, 2009
    +3 Votes

    I hate Compass Bank, but I'm figuring out...all banks are the same...They do whatever they can to screw you out of money...

  • Al
      16th of Jan, 2010
    0 Votes

    I have never heard of a bank that charges you for closing your account!!! 38 dollar NSFS!!! get outta here! I think its a joke, im not sure if its been that way the whole time or if it just started ever since the Spanish bank BBVA took over the struggling bank. I went to check it out to find out a bit about their 150 dollar promo but it was not worth setting up an account with a bank with very few branches and outdated fee policies. I currently have my primary account with bank of america and its been great they have the best online banking a little deal called keep the change which is a great way of saving and locations all over the US. compass gets a 3 on scale from 1-10, they get a three cause the lady that helped me was nice but not knowledgeable about her banks fees either!! that was funny.

  • Je
      26th of Jan, 2010
    0 Votes

    i hate compass bank they have repeadly charged me nsf fees, this last time they charged me 114 dollars over .30 cents i would encourage everybody to stay away from them.

  • Jo
      26th of Jan, 2010
    0 Votes

    Compass bank's NSF fee policy is the absolute worst in the industry. It's because they post all withdrawals before deposits even when the deposit is presented first. On the day your direct deposit goes through, the system will show your direct deposit, but it isn't really there until the next day, because their computer "holds" it and pays any debits that are pending first so they can maximize the amount of fees they get, essentially robbing you blind. Before banking with Compass, I had maybe two NSF fees per year at most, due to my own fault. I've been with Compass for 8 months now and have had close to twenty, but I've been able to get most of them refunded, because they were the bank's mistakes. Most of the NSF fees I incur are when my account has a positive balance. I balance my checkbook and verify it against the online register everyday, and 90% of the time funds are available at the time of the NSF fee. I just got a notice of an NSF fee the other day for an debit that was 15.66, but my available balance at the time was 496.00, and I had no other pending transactions. It seems like they just charge me random NSF fees here and there hoping I won't notice. When I call, they can't explain why it happened, and they refund it. I've had a Wells Fargo account, and a B of A account, and have never even come close to this many NSF fees, because those other banks computer systems are setup to work in their client's favor. Compass uses deceptive an unethical business practices, and it's going to bite them in the butt very soon.

  • Rj
      18th of Feb, 2010
    0 Votes

    I have had the same sort of experience with Compass. However, I raised so much hell about it, and I asked for the district manager's name and phone number that is over the particular branch you're working with. Get ahold of your district manager, mine's was Ryan here in Denver. He was very helpful. He was very apologetic about how their system worked and made sure my NSF's were refunded. I have several accounts with BBVA Compass and am overall happy with them. I have had a number of disagreements with the local branch people, but once I called my contact, things have been ironed out and the branch people know me by name...yes...that's how much hell I raised...and they are very nice to me these days. The branch manager doesn't like to talk to me and I don't talk to him. The original branch I opened the accounts up at I do not deal with at all anymore as the wench that runs it is a french woman that will not bend for anything. I just get in touch with the district manager and things get handled. My advise for people is to find out who the DM is and call them. Be nice, courteous, state your facts, and give them what your satisfactory resolution would be to the given situation.

  • Ha
      14th of Aug, 2010
    -1 Votes

    Honestly, I can just say this from working at a number of different banks. BBVA Compass' problem isn't the processing, or the tellers. It's the ignorance and arrogance of its customers. I've never worked for BBVA Compass, but most of the small banks that I have worked for work the same way as BBVA Compass and here's the bottom line, you go negative, you spend the banks money. The bank doesn't pay the transaction 2 days later, hence why you receive an NSF fee even if a deposit was made after the transaction. If you have a direct deposit coming in on Friday, honestly how do you expect last weeks transaction at Burger King to post after it comes in? People have just become so greedy these days, if you do not want an NSF fee, DON'T SPEND MONEY THAT ISN'T YOURS. They complain about having to pay NSF fees which is coming out of their money, yet they expect BBVA Compass to pay (out of their pocket) for their overdrawn transactions. What baffles my mind is when people get irate over getting verified. Someone once yelled at me cussing me out cause she couldn't into her account cause she didn't remember her password. She asked to be verified with information her postman could have. In a world when fraud is so common I am appalled at how people could care less about being verified. I have people who ask about where their money went on a transaction that was done THAT morning. It is quite obvious that people today cannot manage money, nor care to, because they will always have someone to complain to. Am I right? If you feel that banks are stealing from you, keep your money in a piggy bank, because what it all boils down to is business. There are ways to outsmart the business, yet nobody seems to have the will to do it. You also have those people who threaten to close accounts when refunds are not given...news flash...if you suck that much at managing your money that it is hundreds of dollars overdrawn, the bank probably would do better without your business anyway. You would be surprised what banks offer to customers who have great account histories. Things like 24 hour customer service, free checks, unlimited refunds, personal account officer's phone numbers available 24/7. Yet people would rather sit here and complain about money they don't have for bills. If getting a Overdraft fee for $2.00 bothers you, then don't spend money you don't have for a McDouble. Keep a check registry, it solves all your problems.

  • My
      2nd of Sep, 2010
    0 Votes

    hahapeople, that is the funniest dang thing I've heard all year! I actually work for BBVA Compass and you're absolutely right about the perks for the clients that know how to manage their money... I am available at any given time of day 7 days a week for my customers.
    Thanks for adding your 0.02.

  • Un
      27th of Oct, 2010
    0 Votes

    What is it with closing accounts. I closed my savings account two months ago. Today I get a statement showing a .01 interest paid and owing 11.99 for account management. I can't believe this is legal by any stretch of the imagination.

  • St
      6th of Nov, 2010
    +1 Votes

    BBVACompass is a piece of [censor] bank. If you have an account with them, its best you close it. So, the above poster can go find another Job. After all, we pay their salary. Or, I'm sorry you do. I closed all 3 of my accounts with them.

  • Jo
      8th of Nov, 2010
    +1 Votes

    "People have just become so greedy these days, if you do not want an NSF fee, DON'T SPEND MONEY THAT ISN'T YOURS. They complain about having to pay NSF fees which is coming out of their money, yet they expect BBVA Compass to pay (out of their pocket) for their overdrawn transactions."
    - On more than one occassion while I was banking with BBVA Compass, they charged me NSF fees when I had plenty of money to cover the transaction. They reversed the fees, but it was a hassle. I could not get them to do it over the phone. I had to take my check register, and a print out of my online statement and go down to the branch and throw it in the manager's face to get her to reverse it. I finally closed my account and switched to Sun Bank, and have had absolutely no problems. In a year with BBVA Compass, I incurred over $400.00 in NSF fees. In a year with Sun Bank, I have incurred $0.00. You can't tell me something's not wrong with Compass' banking practices. They are CROOKS!!

  • Gr
      31st of Dec, 2010
    +2 Votes

    I have been with compass bank for about a year and they do eat up your money.I am on a fix income and is only limited on what I can do, and when I needed some money fast and did not have all of it, they charged me for 4times in nsf fees and when my social security check arrives they will take all fo it.In 2011, I will find me another bank because they are too wrong for what htey do.

  • Le
      10th of Jun, 2016
    +1 Votes
    Bank - Phantom Fees
    Compass Bank
    Colorado
    United States

    These peole are no better than liars and theives. I started with First National Bank of Thornton in 1991, and then went through a series of changes until FNB of Thornton turned into Compass Bank. I had nothing but trouble with them since the inception of our relationship. They just randomly kept adding fees to my account. I got fed up and went to close my account. They begged me to stay, and promied to reduce the fees. Months later, they started charging me $15.00 inactivity fees per month. I never agreed to this, and it is a huge violation of the trust you put into a bank when you ask them to secure your money. Who ever expected the banks to be the theives? NEVER LEAVE YOUR MONEY WITH THESE PEOPLE!! They will slowly but surely steal from you.

  • Br
      25th of Jul, 2017
    0 Votes

    I had a positive balance until they charged me my NSF of $38 for three items. Even when it went through the day of my purchase I had plenty of money in my account, then 2 days later, I get hit with the fees. After the $114 in fees, now I am overdrawn by a little over $50. So why did I get the NSF, if I had money in my account? I think this is a illegal activity, and should be a federal offense.

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