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Compass Bank / holding deposits to generate nsf fees

1 Houston, TX, United States Review updated:

Count me in for a Class Action law suit against Compass Bank!!!

I will spare you all the gory details, but the bottom line is that Compass bank puts a hold on deposits to generate NSF fee income. Whether it be cash or check (for example, direct deposit of your payroll check). They claim it's because they are not an "online" bank, whatever that means. It's really just a big scam that enables them to have debits clear before credits generating NSF fees. I have done my research, and this has happened to many many people. And it's not because we don't know how to manage our money. It's because we are at the mercy of this ruthless bank that has our money and is using it to generate as many NSF fees as possible.

I am an accountant and have a masters degree in finance, and yet I can't seem to keep my head above water with this bank!!! I have never had this problem before banking with Compass, and it was not by choice because they bought out Texas State Bank. I have closed my account and advise others to do the same. It's impossible to manage money that Compass decides to put an indefinite hold on regardless of when you deposit it or if it's cash or check. The bankers will assure you that it's immediately posting to your account and it's days before the tricky scam they are running pans out. And you get a different story from each person you talk to and no one is held accountable for what they tell you. They tell you the calls are recorded to ensure better customer service, but when you ask them to pull one of those recorded phone calls to prove they are lying to you, it conveniently cannot be done.

Compass bank, you are so good at this!!! And come to find out, it's been happening for YEARS! I would love to know just how much income you are generating by this, but it has to be one of your top sources. Let's join together to put a stop to this!!! Contact me at if you have been victimized by Compass!

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  • Je
      6th of Mar, 2008
    0 Votes
    Compass Bank - Miss-lead!
    Compass Bank
    United States

    Before I opened my account with Compass Bank a very simple question was asked and then this simple question was sent in a very detailed email by another co-worker of mine to verify. This question was simply "Do you clear charges before Deposits placed before 2:00pm" we were told "NO" well, guess what? I was lied to. On February 22nd, my husband went inside the bank around 10:00am and asked how much we had and made a deposit based on that. Well, at midnight they cleared pending charges before my deposit which keep in mind WE WERE TOLD THEY DO NOT DO THIS then the nsf fees ate up my deposit which then caused more fees from what I spent thinking I had money in the bank not having any idea it was eaten by NSF fees. The bank manager in Inverness Mary Asher says "we didn't clear charges before your deposit" I am stunned that she is still saying this. Yes, they do clear charges before your deposit. Then she says we clear them in the order they come in, however they clear them from highest to lowest... so which is it? you clear them the order they come in or in the order it is most convenient to you? I tried going higher up to get someone to listen to me about being miss-lead and I was told "I'm sorry we can not refund any fees" I said I was miss-lead or non of the fees would have happened then I was cut off and she says "I'm not interested in hearing what you have to say". This is not a professional way to handle any situation. I was not being irate. I was very calm and just explaining what had happened. This bank simply does not care about their clients.

    Business is Business but at the end of the day we all go home to our families and I can go home to mine with a clear conscience. I would never miss lead someone in such a way that it could really cause so much grief in their lives and leave them in tears for days.

  • La
      30th of Jan, 2009
    0 Votes

    This is identical to my first compass issue in November. I was told my after 3 PM deposit would go in the next day and when I purchased groceries and gas there should have been money in my account. They took two days to deposit my check and instead of the next day deposit. My two purchases bounced immediately a couple hours after they were supposed to have deposited my money. Needless to say as soon as those NSF charges came through they then deposited my check.

  • Sc
      28th of May, 2009
    0 Votes

    Amen! I am so glad to hear that I am not going crazy! I could go into lots of details on the multitude of arguments that I have had with Compass, but for your sakes I won't. But one thing always concerned me. I would make cash deposits before the business day cutoff and it would take 2-3 days for it to post at the earliest. I was always told that it was because the funds had to be verified. What?!! It's cash, it's in your hands, you've counted it, and you've already checked with your little pen to see if its counterfeit - what else is there to verify?!!! But, conveniently while I was waiting for that cash to post, I was racking up NSF fees at $38.00 bucks a pop. And now, I just made a final payoff on a line of credit, and I'm being told that the payoff amount that was presented to me in writing, really isn't valid and that they will continue to charge me fees. Again - I'm astonished. My "real" bank would never treat me this way. No more business with Compass ever!!

  • Py
      30th of Jul, 2009
    -1 Votes

    I, too, have posted a complaint about the same practices, and now compass is telling me that they will charge me NSF charges if the date the check were written and deposited, is on a date that funds were not available ( they post my deposits last after check!) they will charge me insufficient funds. I want to close my accounts but I am stuck because of economic and direct issues that would slow down payment of my bills and payroll. I dont know what to do but I am on the band wagon and I want to be included in a Lawsuit if one is filed. thank you all for speaking out because I thought I was going nuts for a while!!!

  • Ya
      10th of Aug, 2009
    0 Votes

    Man Compass bank is the worst bank I have ever dealt with. My direct deposits are dated for Monday and arrive on Monday. It gets processed, last of course, on Mon-Tuesday morning but is not really posted until Wednesday. So of course all debits that show up on Monday nights and Tuesday are considered NSF. I have asked and asked and I keep getting that they don't hold deposits. So why is it that checks, during mon-tues processing, update the posted balance but deposits do not. It makes absolutely no sense whatsoever. I just recently filed bankruptcy and Bank of America was listed on my schedule of creditors therefore they placed me on chexsystems. I am currently trying to get that removed. If I am successfull, I am getting the hell out of Compass Bank they are crooks.

  • Bf
      25th of Aug, 2009
    0 Votes

    I am at a loss Me and my husband went down to the Compass branch this last Friday around 10:30am and deposited $500 CASH the teller says "I will post this right now" we have never had any problems with this have had an account for almost 10 years 6 months ago i had a hacker try and charge merchandise through paypal and had paypal backing me with documentation it was beyond my control due to the 3rd party access and Compass dispute form i get a letter rejecting my dispute and i am left with ISF Fees of a hacker?? I check my account this morning (Monday ) as my mortgage is electronically paid through my account my cash deposit made 8/21/2009 is nowhere on my transaction history pending or posted YET i have a deposit receipt (Acct.# verified? no typo) so now my account is in the major red! I agree this must stop have to wonder i was curious so i Googled Compass/BBVA nothing but ugliness with their ways this cant go on there are just too many complaints for this to keep going. I am going to the branch 1st thing will update with my outcome.

  • Co
      8th of Sep, 2009
    0 Votes

    It really is time for someone to hit Compass Bank with a class action lawsuit for unfair and unscrupulous business practices. I had four $38 NSF charges come out of my account last week because one single check hit my account Monday before my deposit did. From then on all I did was try to chase it down, making deposits to make up for the fees, and all to no avail. NSF charges always hit my account first thing in the morning before any deposits did. It was a losing battle. I'm now getting ready to call them and ask for three of those charges back. I don't actually expect to get three, I'm hoping for two (that's been their policy in the past - 2 "courtesy" refund of NSF charges for the life of each account), and I'll consider myself lucky if I get anything at all, considering they've been bought out by some other company since I last had an account with them. If anyone hears anything about a class action lawsuit, please post it here.

  • Sh
      23rd of Sep, 2009
    0 Votes

    That is so true. I had $67.00 in my account. My pay check was direct deposited and that was in pending. Nothing else was in pending. So, the check amount was added to the $67.00. The next day I had a $76.00 charge because three checks hit and they took them from the $67.00 leaving me overdrawn for 2 of the checks THEN they put in the direct deposited check. So the direct deposit was there before the checks. I talked to an official at the Houston bank and he said it has to do with WHEN the checks were written. It is none of there business WHEN the checks were written, only when they hit their bank.

  • Ph
      30th of Sep, 2009
    0 Votes

    We're dealing with the same issues. We need a good lawyer to make a solid class action lawsuit out of this. Count us in.

  • Dk
      1st of Oct, 2009
    0 Votes

    Wow...I am so glad that I am not the only one dealing with these thieves! They have charged me $190 for 5 $1 charges that went through the same day as my direct deposit. When I made these $1 purchases the bank was showing my direct deposit as available. Now they have run the purchases before the deposit and are charging me for them. What a crock! I am changing banks next week. They will no longer get free money from me!!!

  • Ss
      22nd of Oct, 2009
    0 Votes

    With all of us being in the technological age... It's very hard to understand why when we submit cash to the bank for deposit... it doesn't actually show in your account the same day. I feel it is a deliberate strategy by the banks to allow over drafts to occur. Personally, I feel it is just another way to help keep the poor and middle class just that... Poor and middle class. It's sad that the cash I deposit today for a bill due today... Is not available TODAY. Instead it is made available to lenders first. While banks sit back and take our money we just deposited as over drafts putting us further and further behind. Why are we punished for not getting off of work before 2 pm? Is it time for America to get fed up and put all of our money onto a pre paid visa card that makes sure your funds are available the second you buy it??? Hereby allowing us to pay our bills on time without fear of the banks taking the cash we worked so hard for?? Basically, I'm saying that with computers as High Tech as they are now... It should be ILLEGAL for banks to rip their customers off of their hard earned CASH! (not checks.. not money orders...) CASH! It's not just Compass Bank... It's Wachovia... Wells Fargo... Bank of America... It's lining the pockets of these people period. I just made a complaint to ... Doesn't America realize that if the working class and poor stand up and fight the banks... we could cripple the biggest crooks in America???

  • Re
      1st of Dec, 2009
    0 Votes

    I'm in on a lawsuit. Just yesterday I made a 100.00 dollar deposi at 7:52 am I came home checked my account and the deposit is there no problem positive balane all is well with the world. 5:00 am today and I check my account and I can't locate my 100.00 deposit and a new debit has been posted dated yesterday which throws my account in the negative which will allow them to chg me a NSF charge. Check my account again at 7:00 am and my deposit for the 100.00 that I made yesterday morning at 7:52 am is back in my account but it won't change the fact that they will chg me a NSF. They actually backout my deposit keyed in a charge which throws my account in to negative so they can hit me with a NSF and than put my deposit back in. They have hit me with over 200.00 in NSF in the last week because of their questionable posting...

  • Sc
      4th of Dec, 2009
    0 Votes

    Sorry red5158077. Just when you think Compass Bank couldn't stoop any lower, they top themselves! If you haven't kicked Compass to the curb yet, hurry up and do so. It doesn't get any better! And if you're eligible for USAA - you're in for a treat- as they are banking at its absolute best!

  • La
      11th of Dec, 2009
    0 Votes

    Holy moly, red5158077! I think you're describing the very same thing that I just found has happened in my account.

    Tuesday (12/8): Had a balance in the bank of $104.02. Made a $20 CASH deposit at midday because I realized I'd accidentally used my Compass debit card the day before (as a credit card), instead of using my real credit card, for a gas purchase and would be overdrawn Tuesday night if an outstanding $110 check went through that night without a deposit going in also.

    Wednesday (12/9): Check my account. Everything good. $20 deposit posted, $110 check posted, positive balance of $14.02, $9.88 check outstanding.

    Thursda (12/10): Check my account; everything still good. $14.02 balance, $9.88 check pending, positive balance, NO overdraws or NSFs in sight.

    Today (Friday, the 11th): Check my account. Good God, I'm $71.86 overdrawn! Last night, Compass actually went all the way back to Tuesday night and rearranged my activity for that night so that the $110 check is now posted first (causing me to be overdrawn by $5.98 ), and the $20 cash deposit is posted last. Balance in bank at the end of the day (the 8th) - $14.02 Wednesday, the 9th, they charge me a $38 NSF, then run the $9.88 check through. Now I'm in the hole by $33.86. Yesterday (the 10th), another $38 NSF, for a grand total of $71.86 in the negative.

    I intend to pursue them in court; if I can get a lawyer to file a class-action lawsuit, I'll find all the people I can to join in on it. Will post back here when I meet with a lawyer next week (thank goodness daughter works for a law firm) with news of what I find out.

  • Th
      10th of Apr, 2010
    0 Votes
    Compass Bank - The inherant dishonesty of this bank
    BBVA Compass Bank
    United States

    Compass Bank has repeatedly taken fees out from our account with no reason. When you call the customer service line, they tell you that the mistake is YOUR fault, even when it's not! This isn't customer service, it's legalized stealing. And apparently, there is NOTHING you can do to them. The banking commission isn't interested, and they tell you to get a lawyer. But seriously, if you could AFFORD a lawyer, you wouldn't be getting any NSF fees, now would you? Any lawyers out there looking to make a name (not to mention money) in suing one of the biggest scams in America?

  • It
      24th of Aug, 2010
    0 Votes

    After I had a disagreement with Compass Bank regarding an overdraft. We could not resolve my issue so I closed my account. Apparently there were two electronic checks that had not cleared. So Compass Bank allowed the Vendor to re-deposit them 5 times before they informed the Vendor that the account was closed. I question there reason for re-opening a closed account 5 times. They told me that they can do it because the checks were electronic. No one informed me of transactions and I did not learn of it until I received my credit report stating that Compass Bank charge off a $500 and sold my account to Jefferson Capital, LLC. I made contact with an Compass Bank executive and was told that if the check had been a hard copy they would have informed the Vendor to not re-deposit check. Note: I had deposit funds to cover the over draft but Compass Bank does not credit cash deposit before debits are posted. That means they make sure you are hit with an overdraft fee. I want in on the Class Action Law Suite 617-543-3000

  • Fr
      31st of Jan, 2011
    0 Votes

    Compass Bank has been nothing but a nightmare for me. I struggled with the same issues everyone here have as far [censored]ding deposits including cash, reordering the posting of items, etc. to the tune of over $3, 000 in overdraft fees which as a single mom is devestating. After months of over half of my paycheck that I deposited going to NSF and OD fees, I walked away from Compass Bank and have never had this problem since, which tells me that there was something up with Compass Bank's operating proceedures. However, that isn't the end of the story...I spent months trying to get Compass bank to reverse the fees so that my account would be closed in good standing, but they told me there was nothing they could do. They turned the account over to TRS and after speaking to their agent and providing proof of my original dispute of excessive fees, the agent agreed with me and gave me a number to Compass Bank to work with them directly to get the matter settled. I then followed up with Compass Bank and after many letters and phone calls never received a response. It has now been almost two years since I have heard a peep from them over this matter and today I get yet another letter from TRS for the even higher amount of $1, 179.48 but they will settle for a lower amount. If there is ever a lawsuit against the abuse Compass Bank has committed, I will be first in line. This is ridiculous and they do nothing for those people who want to settle their accounts in a reasonable fashion. Just FYI -- the original transaction that led to the $1, 179.48 was a debit card charge for $2.38 for which cash was deposited on Friday afternoon before 3:00 p.m. but was held until the following Monday at midnight before. Why a cash deposit is ever held is beyond frustrating!!!

  • St
      6th of Feb, 2011
    0 Votes
    Compass Bank - Apathetic Customer Service
    BBVA Compass
    9525 Katy Freeway #410
    United States
    Phone: (713) 461-3043

    In the summer of 2009, my fiance and I signed up for their Rewards Program (4 points for every dollar you spend) when we opened up 2 checking accounts with Compass Bank, then a third account a couple of months later. One of the offers at that time was double points, so for every dollar I spent I would receive 2 points. I was told that these points could be used to receive gift cards, rolled over to airline miles, etc. My fiance and I are getting married at the end of February in Costa Rica, so we decided this would be the perfect time to go see how many points we had racked up. In November we went into our local branch office to try to redeem these points to help us out with the cost of our plane tickets. That's when we found out that we had NO POINTS because we didn't go online to register after opening the accounts. We were not amused. We asked the guy in the branch office to fix it, but he shook his head and told US to call customer service to get it fixed. We did. On the phone, customer service told us that they understood, but to retroactively receive our points, we would need to resolve that in a branch office. Back at the branch office, they passed the buck to the people on the phone, again. Finally tired of the game of hot potato they were playing with me, I took the few thousand dollars out of my savings account and closed it out. When asked why I was closing it I said, "Poor customer service." to which the girl replied, "Oh, I'm sorry." I said, "I keep hearing that but nobody will lift a finger to fix the problem I'm having" to which she replied, "I'm sorry."
    Over a hundred thousand dollars per year was directly deposited into my accounts into that financial institution. I closed one of four accounts with three more to go, once I transfer my automatic bill paying to another bank. Even when told my money and accounts are going else where because nobody here give a damn, all I got was, "Oh, I'm sorry." You're not sorry, you're apathetic and you obviously have enormous management and customer service deficiencies.

  • Mo
      25th of Mar, 2011
    0 Votes
    Compass Bank - Would not release my funds
    Compass Bank
    United States

    I made an ATM deposit of $6000.00 at Compass Bank. I called the same day to find out when my funds would be available since it was such a large deposit. I was told that they would not be available until the 11th business day since my account had been overdrawn more than 6 times in the last 6 mos.

    I then proceeded to ask why I was not notified prior to the check being posted to my account, so that I could make the decision to deposit my funds at another institution and was told that I should be receiving my hold letter shortly, after the fact I might add.

    I then said that I wanted to come back in and get my check to take it elsewhere, the representative told me that I could come pick it up, but I was put on a brief hold, then told that the party who handles checks had already gone for the day. He then offered to call and get the check verified, and once this was done, he would release the hold which let me know that this policy obviously is not one"written in stone, "and can be changed at the branch's discretion..

    He asked that I give him a few days to get the check verified, and he would get back with me. I was then called the next day 7/25/07 by him and told that in order to verify the check, it had to be approved by the branch manager, who told him not to do so, they would be holding my funds the full 11 business days.

    I was then instructed to call her, if I had any other questions regarding the matter. I was transferred to her voicemail and did not receive a phone call back. I then proceeded to the next level and contacted the Area/District Manager, to try to have the matter resolved at that level.

    I am awaiting a call back. I want to also state that at the time of my deposit, my account was not overdrawn and no monies were due to Compass Bank, yet the Branch Manager would not give approval to have my funds verified or released.

  • Cr
      7th of Apr, 2011
    0 Votes

    I agree. This BBVA Compass bank is a master of deception!!!

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