I feel your pain! My account was overdrawn by 3 cents with a pending deposit. The next day, I noticed that all was well with my online checking since everything displayed as paid. No overdrafts. The third day brought quite a surprise to notice those nasty red lines in my report. The manipulation was obvious. Between the second and third day, a bank employee decided to reorder the sequence of processing my items and to maximize NSF charges. 3 cents overdraft resulted in 3 NSF charges of $38 each!!!
If you want to do something to stop these monsters, I suggest:
1. Contact the Better Business Bureau in Phoenix (the BBVA Compass headquarters in the U.S.) and launch a complaint. The institution will be forced to respond and research your claim; and this will at least cost them the amount they have charged you, instead of the pennies that are required to actually process an overdraft. You see, the entire process is automated, virtual, and cost them far, far less than what they charge you.
2. Contact your Congressional representatives and tell them that these unfair laws must be changed. This is the only longterm solution to such unscrupulous practices. Point out the fact that a huge chunk of taxes have just been applied to bailout institutions which exercise these malicious practices.
3. If your employer, like mine, has a business partnership with Compass offering incentives for employee participation, express your dissatisfaction as a reason to discontinue that partnership. This will hit them where it hurts. If possible, state your problem to your Human Resources department and request that a partnership be established with a more customer-friendly bank.
4. Contact the media with your story. Remember, your issue resonates with millions of others around the country. This isn't a problem unique to you; and it certainly isn't reserved for people who can't balance a checkbook! You should relieve the burden of that myth from anyone who shoves that in your face.
5. Last, but certainly not least, move your business away from Compass as soon as possible and discourage friends and family from becoming victims.