My experience with my son's bank account and Compass charging excessive overdraft fees to the tune of over $3, 000 in a 2 month period while he was working in a remote part of Oklahoma (full time student but worked seismic in the summer to pay for school). No access to internet, had no idea his account was overdrawn (to do a direct deposit paycheck being deposited, then reversed and not redeposted for two more weeks). He had not received bank statements in the mail for serveral months, because he had moved, filed a change of address with Compass, but they said he had the zip code wrong so they were being returned to the bank. He had at the time over $20, 000 in a Compass Brokerage account, so I tried to negotiate on his behalf and was met with absolute rudeness and unprofessionalism.
Then last year, I finally convinced him to close the Compass Account and go with Wells Fargo. He closed the account, an auto debit went through without his knowledge on his car insurance and suddenly he had again over $300 in overdraft fees. It took forever to get Compass to reverse these charges and to actually CLOSE the account. Then a few months later he gets a statement that his savings account is overdrawn by $4.00. Huh???? Glad he has finally done with Compass. Does anyone know of any class action lawsuits against Compass for overdraft fees. I would gladly join the cause.