On the date of 10/13/04 I opened a checking account with a 25.00 cash deposit. At the time that I opened the account, it was explained to me that there was to be a 7 day hold on the account as it was a new account.
On 10/15/04 I deposited a paycheck in the amount of $458.27. This check was written on a bank in the same metro area, Bank of America. This brought the total of my deposits to the amount of $483.27. Compass pirates had these funds cleared from the bank they were written on well before 10/23/04.
I first used my debit card on the date of 10/23/04 at about 7 or 8 in the morning and debited $9.05 at a Fry's grocery store near where I live. This was processed as a debit card, not a credit card transaction. This electronic funds transaction was allowed with no hindrance.
I used it for the second time about 12 hours later at Peter Piper Pizza near where I live for a debit card transaction of $26.93. This transaction was also allowed with no hindrance.
This was 10 days after the first deposit and 8 days after the second deposit. The total of these 2 debit card transactions were $35.98. SUBSTANTIALLY LESS than the amount deposited!
On the date of 10/24/04 I accessed an ATM machine in order to retrieve funds for tithe to my church and the ATM denied the request due to NSF! Also indicating that there had been NSF fees charged to my account.
On the date of 10/25/04 I went to the branch where the account had been opened and was told that the hold for the new account was not 7 days from the account was opened, but 7 business days (9 calendar days) from the date of the deposit. I was willing to accept that I may have made an error by using my debit card at Peter Piper and accidentally overdrafted my account for that one charge. I was willing to say if Compass pirates needed my 35.00 that badly they could keep it.
Then the following week I was the un happy recipient of a postcard that advised me that the pirates had not only charged me for NSF once, but TWO TIMES!
I called their customer service line and was told that even though the two transactions in question were debit card transactions, and they were spaced 12 hours apart, that the first electronic funds transfer to be processed and recognized by the pirates was the transaction at Peter Piper Pizza. So that transaction was charged 35.00 for NSF and the very first transaction on my account was also charged a 35.00 NSF fee. Now I have 35.98 in debit card transactions that I ended up being charged 105.98 for because the pirates do not honor electronic funds transfers or debit card transactions as such.
The next check I deposited was from my employer as well, only this was for $1000.50. This next paycheck was actually written on Bank One in TEXAS. But Compass was able to clear these funds in less than 24 hours... Sounds a little fishy to me... Kind of like the inappropriate accounting practices that ended ENRON and a few other companies in the trouble that they are in today.
The only response that I am willing to accept at this time is
1) Complete Refund of the $70.00 in NSF fees that these pirates stole from me.
2) A letter of apology from this pirate company that CLEARLY STATES that this WAS NOT MY ERROR. That COMPASS was IN ERROR when my account was shown as NSF.
3) PAYMENT for the amount of time that I have spent in effort to clean this up. My employer pays me $12.50 per hour, since I have been WORKING to resolve this issue they should pay me my hourly rate for wages $100.00 for the 8 hours spent on the phone and at the branch.
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