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Fight Back!!! > The DEFENDANTS - CRAs, Fair Isaac .... > Compass Bank SUCKS!
compassgotmetoo
Well, I had the misfortune of opening an account with compass bank, being unaware of their deposit and debit posting procedures. But here is a summary of what happened.

I orignally openend my account with the minimum of $25, i was using this account simply for bill pay and to transfer funds from paypal as I have an online business.

After opening the account I made my first paypal deposit and I wrote 2 checks, one for rent and one for my car payment. Over the weekend I had an issue come up and I had to withdrawl funds which made the carpayment check bounce. Ok, thats fine, I get a $36 fee and I settle up with my car loan place. Thats my mistake, I deserved the $36 fee.

This brings me to the next weekend, I was running very close on funds but meticulously watching my bottom line and being sure to account for every dollar spent.

Going into the weekend-

Thursday starting balance ------- $22
Debit Card Trans -------- $8.50
Debit Card Trans -------- $10

End of day balance on Thursday - $3.50
On thursday night I initated a paypal deposit of $150, which will take 2 business days to clear the account, keep this in mind because this is important

Friday starting balance --------- $3.50
Cash deposit +$60

No other transactions for this day.

Now Saturday I verify online that the $60 is in my POSTED balance, not just the available pending balance. My balance is correct at $63.50 minus a $1 fee for a debit card transaction, leaving me with $62.50

On saturday I made 2 sole transactions with my debit card
Cash withdrawl ---------------- $42.00
Gas purchase ------------------$18.00

I also wrote 4 checks that day, which I know will not hit my account untl monday/tuesday, totaling $135, the paypal deposit will be availalbe on that day so I thought.

This brings me to monday, everything looks fine, I check online my balaces are correct. My paypal deposit of $150 shows in the 'available balance'

Ok, tuesday is where the problem starts, that morning i look at what my account says. First line posted monday was the debit for $42.00 cash withdrawl, but then the 2nd line is a $36 overdraft fee!!!!!!!!!!!!! Now, if you check my accounting, this now puts my balance at -$16, then the $18 transaction, then the $10 transaction from thursday, and then the $8.50 transaction. I call the bank to see whats up, it seems they charged me yet another fee on the check that had bounced 5 days prior wich I had already been charged a fee for.

The last thing for the day, was of course the credit for $150 from paypal, so of course they put deposits in last, to make sure they can charge me more fees. Keep reading, this gets worse.

This single $36 fee, now caused 3 more fees of $36 for the $18, the $10, and the $8.50. Now I am left with only a few $$ in the account, remember I still have $135 in checks out there, of course they all hit that night, leaves me with 4 more fees. Now monday night, I had initated yet anoter paypal deposit of $150, I figured according to my records when that cleared I should have somewhere in the neighborhood of $165 in my account after all the checks had cleared.

But what do I have today?? about $250 in overdraft fees and 4 bounced checks all because of one lousy overdraft fee that they inserted at the worst possible time.

I called CS, they wouldn't help, I spoke with a supervisor, they wouldn't help, O spoke with a personal banker, She wouldn't help either. All they would have to do is refund that one fee, just one and then this whole mess would have never happened. But I got totally screwed because I chose to bank with compass.

Right now the account is negative, and I have no intentions of depositing my hard earned money so they can just charge me more fees. I am ready to take legal action against them, because they never gave me an opportunity to stop this. I refuse to get run over by a robot bank that has no humanity to it. They may be able to screw me because their policy says so, but that certainly does not make it right. My question to you, is what have you guys done to sucsessfully resolve your issues with the bank 'O death compass bank?? They truely suck and they are definitely just out to maximize their fees.

I used to think wells fargo was the worst bank possible, but they are saints compared to compass.

IF you have a OD fee at WF, its LAST in line for the days business, Credits always post first, then debits, then OD fees.

If Compass did their business this way, I would have had ONE $36 fee, I could have made a cash deposit to cover that fee, all of the checks would have cleared and I would have an extra $150 ontop of that. None of this was ever disclosed to me, infact their policy states that any deposts made will be available to pay any checks/debits from that day, which appears to be a lie or that deposit of $150 would have been first in line.
Christine
Thanks for posting the detailed NUMBERS, that's so important.

I really don't understand why the $150 from Paypal showed up on Monday but the funds weren't available.

Now, I don't use the Compass Bank online banking, I just download the transactions into Quicken, so I'm not familiar with the " POSTED balance, not just the available pending balance"

Can you print out now how those balances changed? Or is that continually updated and if you don't print it right away it's gone?

The very first thing I would do now is to fax to them this URL and ask for a WRITTEN explanation. I know you already talked with them, but talk is cheap, especially when you want to take legal action. Call the person most qualified and ask for the fax #.

" None of this was ever disclosed to me, infact their policy states that any deposts made will be available to pay any checks/debits from that day, which appears to be a lie or that deposit of $150 would have been first in line."

Can you scan and post their policy?
compassgotmetoo
I will post the actual transaction record.

The balance was correct all through the weekend, I wasn't aware of any problems until tuesday when they posted the final end of day transactions for monday, thats when I noticed the overdraft fee of $36, that $36 couldn't have hit at a more opportune time for them. That single solitary fee caused a cascade which created a huge mess. Just because it hit at a time when the balance after transactions were only a couple $$$ left That fee caused 3 more fees, which then caused 4 checks to bounce, which caused 4 more fees, and I am sure there are even more now, I haven't checked in a couple days, I am scared to even look. All I want is for compass to refund that one fee, then all these others will disappear. They told me since it was a new account they would not do it. Yeah, really great customer service there, I woud rather get shot in the face than do business with them again.

One thing I noticed which was very strange to me is that deposits were always last in line. That means if on that particular day you made a deposit any pending transactions are going to be posted first. When banking with Wells Fargo I because very familiar with their procedure for posting funds, but compass polices work much more in their favor. By posting credits last, that makes yet another opportunity to charge fees, as well as by using their new system which the call EDP or Effective Date Posting. Which really contradicts what their stated policy says regarding deposits as opposed to credits. That in itself was not the problem here, but if they would post credits first that one fee would have been the only one.

The online system is misleading as well. They show 2 balances, one which is the Posted balance and another is the available balance, I would pretty much call the 'avialable' balance as a pending balance. I was aware of that, I never considered money available for withdrawl until it showed in the posted.
compassgotmetoo
Ok, to give you a starting point, my balance was $22.50 starting into this on the 9th, this is really weird, I look at different dates and transactions are posted in different orders. On the 12th when I looked at it the $42 charge was first, then the $36 fee, then the $18 then the $10 and last the $8.06, these transactions have been re-arragnged from the way they appeared on the morning of the 13th

09/12/2005 CREDIT FOR PAYPAL TRANSFER CO REF- 5JL222EYGXX54 $150.00
09/12/2005 ATM WITHDRAWAL CHARGE $1.50
09/12/2005 NSF CHARGE $36.00
09/12/2005 BLOCKBUSTER VIDEO #04038 PHOENIX DEBIT FOR CHECKCARD 8426302066 $8.06
09/12/2005 W.F.B PLUS 1053X 09/10/05 C INQUIRY SERVICE CHARGE $2.00
09/12/2005 SHELL OIL 57441534302 PHOENIX AZ DEBIT FOR CHECKCARD 8426302066 $10.00
09/12/2005 EXXONMOBIL59 01187707 PHOENIX AZ DEBIT FOR CHECKCARD 8426302066 $18.04
09/12/2005 W.F.B PLUS 1053X 09/10/05 C WITHDRAWAL FROM DDA $42.00
09/09/2005 DEPOSIT $60


Now look at the next day, this is strange.

09/13/2005 ATM WITHDRAWAL CHARGE $1.50
09/13/2005 NSF CHARGE $36.00
09/13/2005 NSF CHARGE $36.00
09/13/2005 NSF CHARGE $36.00
09/13/2005 NSF CHARGE $36.00
09/13/2005 NSF CHARGE $36.00
09/13/2005 0999999000 PLUS LK421703 09/13/0 WITHDRAWAL FROM DDA $81.50
09/12/2005 EXXONMOBIL59 01187707 PHOENIX AZ DEBIT FOR CHECKCARD 8426302066 $18.04
09/12/2005 W.F.B PLUS 1053X 09/10/05 C INQUIRY SERVICE CHARGE $2.00
09/12/2005 CREDIT FOR PAYPAL TRANSFER CO REF- 5JL222EYGXX54 $150.00
09/12/2005 W.F.B PLUS 1053X 09/10/05 C WITHDRAWAL FROM DDA $42.00
09/12/2005 BLOCKBUSTER VIDEO #04038 PHOENIX DEBIT FOR CHECKCARD 8426302066 $8.06
09/12/2005 NSF CHARGE $36.00
09/12/2005 ATM WITHDRAWAL CHARGE $1.50
09/12/2005 SHELL OIL 57441534302 PHOENIX AZ DEBIT FOR CHECKCARD 8426302066 $10.00
09/09/2005 EXXONMOBIL59 01187707 PHOENIX AZ DEBIT FOR CHECKCARD 8426302066 $7.05
09/09/2005 DEPOSIT $60.00
09/08/2005 ATM WITHDRAWAL CHARGE

and then the 15th

09/15/2005 NSF CHARGE $36.00
09/15/2005 CREDIT FOR PAYPAL TRANSFER CO REF- 5JL222F2ZF8SQ $150.00
09/14/2005 NSF CHARGE $36.00
09/14/2005 SPRINT PCS-996-SP IVR 888-211-47 DEBIT FOR CHECKCARD 8426302066 $10.00
09/14/2005 NSF CHARGE $36.00
09/13/2005 NSF CHARGE $36.00
09/13/2005 NSF CHARGE $36.00
09/13/2005 NSF CHARGE $36.00
09/13/2005 NSF CHARGE $36.00
09/13/2005 0999999000 PLUS LK421703 09/13/0 WITHDRAWAL FROM DDA $81.50
09/13/2005 ATM WITHDRAWAL CHARGE $1.50
09/13/2005 NSF CHARGE $36.00
09/12/2005 CREDIT FOR PAYPAL TRANSFER CO REF- 5JL222EYGXX54 $150.00
09/12/2005 ATM WITHDRAWAL CHARGE $1.50
09/12/2005 NSF CHARGE $36.00
09/12/2005 BLOCKBUSTER VIDEO #04038 PHOENIX DEBIT





This is getting even more confusing and now my accounting shows them taking even more overdraft fees than they should have. You notice how many times transactions have changed places?? Do they even know how to count?? Look at the blockbuster video charge and where it lands on each day. I don't know where to even start here, I guess their goal is to confuse customers so much they don't even know how to complain.

However, I can give you exact dates and times for each transaction, despite what the record states.
Christine
This sure is all very strange. You have the documentation, great!

"I don't know where to even start here, I guess their goal is to confuse customers so much they don't even know how to complain."

Of course, none of it makes sense. You already did your part by explaining the problem in great detail.

Now it's time for Compass Bank for their explanation of this weirdness. Print this thread and fax it to them for response.

Along with some questions such as:


1) Why was the $150 deposit included in my online balance on 9/12 and then credited LAST to cause all the NSF fees?

2) Why are the transactions continually rearranged?

Invite them to post right here so that we can all learn how they operate.

etc.
compassgotmetoo
Ok, I have e-mailed them with the information regarding the complaint, as well as a link to this thread.

Now, how do I get in contact with people who have a little more pull with Compass Bank?? Customer Service reps do nothing but read whats on the screen infront of them, and the Supervisors that you speak to are barely above that level. I felt like I was talking to the manager of Burger King.

I think we have enough grounds here for a good media story if they continue with this lack of cooperation and shady accounting practices. The public deserves to know so they don't fall into the same trap.

I think it would be in everyones best interests if there were stricter government regulation on banks fee schedules. Right now they are allowed to capitolize on peoples mistakes, for example, above they charged $108 worth of fees for $20.08 worth of transactions, of which would have never even been in the negative had they not inserted their fee at exactly the right time.

This bank is vile, obviously they had malicios intentions. I would bet that the $36 fee would not have even been there if I would have had an extra $36+ in the account.
Christine
Check http://fight-back.us/forum/http://fight-back.us/forum/index.php?showtopic=30 and http://fight-back.us/forum/http://fight-back.us/forum/index.php?showtopic=5

I have a better way to do this now, see http://mylitigation.net/pr/news/release/op..._credit_limits/

"I think it would be in everyones best interests if there were stricter government regulation on banks fee schedules."

Everyones best interest EXCEPT for the banks. The banks are running the country. The legislators and regulators are corrupt.

There is a ton of interest, my Chase release at http://mylitigation.net/pr/news/release/ch...edit_reporting/ was read over $133,000 times.

The key to a good release is documentation. And if you have just one charge that's really not legit, you have grounds to sue.
compassgotmetoo
I am getting supporting e-mails almost daily from people off of rip-of-reports

How many people does it take to really make a difference??

I think the first step is enough to get a good media story on it, say sort of an Expose on the 'truth behind free checking'

lol, I can hear the narration now.

But its a very serious situation, this bank has malicious intentions, and this day in age I will be dammed if I am going to lie down and let yet another business try and flat out rip me off.
Christine
Well, I don't mean to be discouraging, but ....

Yes, you CAN become the sob story of the day if you can CONVINCE a reporter that you have been wronged.

However:

The anonymous whiners and complainers at ripoff report don't count. I believe that most are just too damn lazy or stupid to balance their checkbooks. I know this sounds harsh, but I believe what I SEE -- not some anonymous rant. I've been around the block a couple times.

You probably noticed that media stories generally contain the full name of the accuser, preferably the picture and of course the response of the accused.

Assuming you get that far, what's the point?

It only takes ONE person to actually prove that something is wrong, get the Compass Bank written response and then:

FILE THE LAWSUIT

Ultimately, nothing will really change regardless of what you do. The best you can hope for is to cost them some business.

If you REALLY want to change something, read up on the Boston Tea Party.

The US is a corrupt country in rapid decline - like it or not, that's just how it is.

Read all these threads just in the Compass topic. What do you think how many hours I've wasted trying to get people to document that there is in fact something wrong?

And what do you see as result?

There's exactly one other press release and that's not even from a poster here. There is exactly NO other lawsuit.

So when it comes down to wondering why our legislators and regulators are so corrupt, well, it sure looks to me like they properly represent this lame-ass corrupt population.

Everything is exactly as it SHOULD be.

And I ought to be on my way to Nicaragua because this is all as pathetic as it gets.

Right?

Smiles3179
I have also had problems with Compass Bank. I had over 14 NSF charges for the same type of problem. You know what they based their NSF on??????????? Check 21.....you know the new law. That is what they say backs them up. None of them.......not even the supervisors up top will do anything. It's as if they process a hold for each check you write.........and one bank rep told me this. They tell you that there is nothing that can be done about it. Just to let you know they process their checks highest to lowest. They also process the checks as they come in. DID YOU get that???? Confusing huh?? The checks you write can come in at any time during the business hours and they post and are updated in their system, but we don't see them when we check online. The next day they will show up as posted on the day before from the highest to lowest charge. Then they charge you NSF fees for each check even if you make a deposit because they hold the deposit and post it after the checks. This is where they use CHECK 21 as their basis. They make it seem as if the checks come through before the deposit regardless of what time the deposit is made. If the deposit is made at opening and the check comes thru afterward the bank will still charge a NSF fee because they say that the funds weren't available in the account yet. MOST BANKS POST THE DEPOSIT FIRST AND THEN THE CHECKS/DEBITS REGARDLESS OF WHEN THE CHECK/DEBIT CAME THRU. Also, when you use your check card you have no limit. You can use it regardless if you have the money in the bank or not. They just charge you NSF fees for each transaction. This bank is such a scam. I am so MAD!!!! WE NEED TO START A CLASS-ACTION LAWSUIT.
Christine
No, you need to learn to read. I wrote above:

QUOTE
Well, I don't mean to be discouraging, but .... 

Yes, you CAN become the sob story of the day if you can CONVINCE a reporter that you have been wronged.

However:

The anonymous whiners and complainers at ripoff report don't count.  I believe that most are just too damn lazy or stupid to balance their checkbooks.  I know this sounds harsh, but I believe what I SEE -- not some anonymous rant.  I've been around the block a couple times.

You probably noticed that media stories generally contain the full name of the accuser, preferably the picture and of course the response of the accused.

Assuming you get that far, what's the point?

It only takes ONE person to actually prove that something is wrong, get the Compass Bank written response and then:

FILE THE LAWSUIT

Ultimately, nothing will really change regardless of what you do.  The best you can hope for is to cost them some business.

If you REALLY want to change something, read up on the Boston Tea Party.

The US is a corrupt country in rapid decline - like it or not, that's just how it is. 

Read all these threads just in the Compass topic.  What do you think how many hours I've wasted trying to get people to document that there is in fact something wrong?

And what do you see as result? 

There's exactly one other press release and that's not even from a poster here.  There is exactly NO other lawsuit. 

So when it comes down to wondering why our legislators and regulators are so corrupt, well, it sure looks to me like they properly represent this lame-ass corrupt population.

Everything is exactly as it SHOULD be. 

And I ought to be on my way to Nicaragua because this is all as pathetic as it gets.

Right?


You posted another RANT without any documentation.


Learn to BALANCE your account!

Do NOT spend money you do NOT have!


How hard can it be?
walkebe
in the future...ask to see an FSR and have them show you the IMIS screen...this will show you how you managed to o/d your account...very few bank errors occur at compass...most of it is customer timing and lack of account balancing
Christine
"...very few bank errors occur at compass"

That's certainly NOT true.

1) First Compass failed to provide me with the legally required adverse action letter when they declined to open my account due to information on my credit report.

2) Compass Bank charged me $6 when I advised that they made a $500 error in MY favor.

And when I requested a credit for this ridiculous fee, they REFUSED!!!!!

I had to send out my press release and copies to the directors to finally get a $60 check. Of course my expenses related to the release and mailings exceeded the $60.

But, it was worth it, because not only did I document and publicize that Compass DOES make mistakes, but that they REFUSED to correct their mistake when I brought it to their attention.

Obviously, if Compass Bank should ever make another mistake in MY favor, I won't bother to let them know.

3) Compass Bank put a hold on a mailed check that SHOULD have cleared immediately.

As I posted here, that error was professionally handled and Compass paid the fees I incurred, but I still had to waste several hours of my time without compensation, not to mention the stress and embarrassment when my Target payment was returned unpaid.

If I was the bank, how many $39 fees would I have been charging, especially since my damages were REAL.

What is the cost of an overdraft to Compass Bank? 50 cents?

Why is it that we get NOTHING for our trouble when the bank makes mistakes?
walkebe
the $6 is an computer generated "research fee"...so theres no way to waive it until after it has been charged..they should have reversed it w/out question..i guess they didnt..and for that i apologize for compass...dont know how things work in AZ, but thats not how we do business in birmingham
Christine
It appears to me that you're now blaming the COMPUTER GOD. Thing is, there is no such GOD, COMPASS BANK is programming the computer. DUH!

"dont know how things work in AZ, but thats not how we do business in birmingham"

Cut the crap!

I called the 800 number after the AZ branch refused to credit the $6. Not to mention that "Birmingham" is 100% responsible for the AZ branches.

I would have appreciate a SINCERE effort by Compass Bank to address the many problems. But, as we now documented, that's not happening.

You're an IDIOT!
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