I opened a business checking account with Compass Bank, Florida on July, 2005 and gladly closed to account on March 2006 and this letter is a horrible experience I had with Compass Bank during that 8 months as a business owner. Some of them maybe will blame me for being careless but you be the judge, here is my story line by line;
1- On July 2004, when I opened a both business and personal checking accounts, they told me that is completely a free business checking account but when I wanted to do deposit checks through their drive- through, they denied the service and asked me to go inside the bank to do deposit and said I have to have one of those pre-filled deposit slip forms to use the drive-through service. When I tried to order those pre-filled deposit slips, they asked me to pay for it, I though they said it was free.......
2- When I was trying to transfer money from by Business Checking account to my Etrade account. I wrongfully used my personal checking info and boom, no mercy, $108 penalty, no matter how much I tried to lower the penalty, they had no mercy....... I felt I am kind of fly felt into a spider's web, and struggling....ouch
3- I moved from Florida to Arizona and Compass Bank said I don't need to do anything rather then an address chance. I did a international wire transfer which was very urgent matter, because the vendor was waiting for my money transfer in order to ship the product. Forget days, hours was important. And once I did the wire transfer, I was told, it will go through next day in the morning because it was after 4 pm and it was not possible for wire to go through that way, which I understood. Next day at 4 pm, Chandler Arizona Compass Bank Branch Manager, John, called at and said there were some problems with my account thus my wire did not go through. I was going insane, I asked him why ? He said" there were some problems and complications". I asked him, What type of problems ? I he repeated same thing "there were some problems and complications", nothing else, eventhough I asked him different questions and I got same answer, he is like a Robot so I got pissed and hung up the phone. No explanations, no apology from branch manager due to their mistake cost money to my business.
4- I had enough with Compass Bank, they were ruining my business and making me insane.... so. I decided to close my both personal and business checking account but of course you can not close things right away and easily, so I decided to keep my Compass bank account for a month and slowly move my accounts to Washington Mutual. When I realized I moved pretty much everything to Washington Mutual, I checked my balance on Friday night and withdrew reaming balance on Friday night as well. When I went to Compass bank on Monday to close my account, they said, I owe $170, why? because one of my customer decides to deposit his check after 3 months which I forgot about that completely, and due to my withdrew, I end up paying $70 penalty again due to actives on Friday which does not reflect my account for entire Friday. I tired to explain him the problem that is not my fault but banks fault if they don't update my account on time. I told him I checked my balance on Friday night and did not show any activity and he said, the activities shows on next business day that is Monday. Bank Manager, John, is a GOD DAMM robot, repeated same thing over and over" ouch I am sorry but there is nothing I can do" , and I finally burst out of the Compass bank before I kill somebody and now I am receiving letters from collection agencies threatens my business that I can not open a bank account unless remaing balance paid in full.
If you want to run a smooth business without worrying about your bank and your deposit, DO NOT OPEN A BUSINESS ACCOUNT WITH COMPASS BANK, YOU WILL FEEL SORRY.