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Compass Bank / overcharged

1 Fort Worth, TX, United States Review updated:
Contact information:

After reading several entries posted on this site, I have to believe that it isn't just my imagination, but that Compass bank has adopted accounting practices with the express intent of getting as much money from their customers as possible in overdraft fees.

I couldn't understand why I could never get my checkbook caught up. Like most other people in today's economy, I am forced to use the overdraft 'protection' offered. Unlike most people, I did NOT become a customer of Compass bank by choice. I was a member of Texas Bank, perfectly happy, then here comes Compass Bank.

For those of you Compass bank employees chiding us 'losers' for not keeping our accounts balanced, all I can say is that I hope you never have need for compassion. Karma being what it is, you're going to writhe on a pole before you get any.

When I spoke to one of Compass Bank's reps last night, I was given a convoluted explanation of their posting practices. The best I could make out, she was telling me that regardless of when a bank demands payment on a charge (debit/credit, etc), Compass bank goes back to the date the transaction was done. So, basically, even though no demands have been made on Compass bank funds at the time of the transaction and it's two or three days later, they're charging you $36 for it.

Also, Compass bank does two postings a day to keep more 'accurate' records. Best I could tell, this meant they posted all your debits from the night before, but they wait to post your credits until that evening. Therefore, increasing their chances of getting that money out of you.

I would seriously suggest closing your Compass account. After this discussion with a Compass rep, I shut down my direct deposit. These people will NOT get another penny from me. If you're interested in possibly pursuing a class-action lawsuit, please let me know. Even if I don't get one cent, it would be worth it just to get an ounce of flesh out of a group of people with no ethics or integrity.

Li
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Comments

  • Va
      21st of Nov, 2008
    0 Votes

    Called the auto teller to find out they charged me a 29.00 service charge. Called and they stated it was a fee for going over the 15 calls a month. Stated never heard of that, Asked if fee could be waived said no. Went into branch and spoke with them about it, nothing could be done. Their reply to me was why did you call 44 times, said did not know. Told them i closing out my account period.

    On the subject of nsf's. They hit me for be overdrawn on 7/10 by 1.29 and hit with with 38.00 five days later. This sucks. People should avoid this bank altogether.

  • La
      21st of Nov, 2008
    0 Votes

    My husband and I have a joint account and avoid the 1-800 number completely to check our balance. We are afraid to get charged the service fee for calling more than the 15 times a month allowed. I have never heard of a bank charging the customer for calling to get their balance. The way that Compass Bank operates makes you feel like you HAVE to check your balance several times a day. I wasn't aware that Compass complaints go so far back. I banked with Texas State Bank, which I never, ever had problems with, before they switched over in August and if I had known of their very shady practices, I would have found another bank before then and saved myself a lot of grief.

  • Ad
      8th of Jan, 2009
    0 Votes

    Compass bank wanted My thunb print to cash a check drawn on their bank then they had the nerve to tell me that it would cost me 10% of the value of the check to cash it! They need to put 'Their' thumb print on it. They are getting away with bank robbery in reverse and need to be stopped now!

    Is this the way to grow your customer base? If ANY banks should fail and go away for good, CompASS should be one of them. Everybody should read this and boycott Compass bank. Their policy makers need to be locked up in jail.

  • Li
      10th of Feb, 2009
    0 Votes

    After reading several entries posted on this site, I have to believe that it isn't just my imagination, but that Compass bank has adopted accounting practices with the express intent of getting as much money from their customers as possible in overdraft fees.

    I couldn't understand why I could never get my checkbook caught up. Like most other people in today's economy, I am forced to use the overdraft 'protection' offered. Unlike most people, I did NOT become a customer of Compass bank by choice. I was a member of Texas Bank, perfectly happy, then here comes Compass Bank.

    For those of you Compass bank employees chiding us 'losers' for not keeping our accounts balanced, all I can say is that I hope you never have need for compassion. Karma being what it is, you're going to writhe on a pole before you get any.

    When I spoke to one of Compass Bank's reps last night, I was given a convoluted explanation of their posting practices. The best I could make out, she was telling me that regardless of when a bank demands payment on a charge (debit/credit, etc), Compass bank goes back to the date the transaction was done. So, basically, even though no demands have been made on Compass bank funds at the time of the transaction and it's two or three days later, they're charging you $36 for it.

    Also, Compass bank does two postings a day to keep more 'accurate' records. Best I could tell, this meant they posted all your debits from the night before, but they wait to post your credits until that evening. Therefore, increasing their chances of getting that money out of you.

    I would seriously suggest closing your Compass account. After this discussion with a Compass rep, I shut down my direct deposit. These people will NOT get another penny from me. If you're interested in possibly pursuing a class-action lawsuit, please let me know. Even if I don't get one cent, it would be worth it just to get an ounce of flesh out of a group of people with no ethics or integrity.

  • Ta
      24th of Feb, 2009
    0 Votes

    They are doing the same - and worse - to me on my home equity line of credit. they would not reduce monthy payments (which suld be reduced when the 5-Yr CMT goes down) until I filed a forma dispute, and then only credited me for the past 3 months (not 1 year, as they should have) in overpayments I made. Their local branch does not have access to their Birmingham data base, and a payment i make locally can take a week or more to post. Of course, late fees are assessed in this case. Now, they're charging me $25 per month on "exceeding my account limit", but this "excess" consists solely of fees they have charged me! I am definitely "IN" for a class action suit.

    Tom S.
    Castle Rock, Colorado

  • Al
      23rd of Oct, 2009
    0 Votes

    I am also a victim of compass bank. I kept sending them money to update my account, but somehow it never posted on time. It was always a day later and just time enough for them to charge the overdraft fee. I did not choose them, my bank was bought out.

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