Anybody who complaints about bank charging NSF fees needs to understand that it's perfectly OK for bank to charge those, me included.
What strikes here is that appears to be that Compass bank uses NSFS fees and major income generator. I specifically state that based how company rearranges debits and credits on account with the sole purpouse to get maximum number of NSF fees.
Here is examples what they do to maximize NSF fees
1. Put credits after debits so you get NSF fees on debits even though they had credit available on the same day
2. Arranging debits in such an order that biggest debits are coming before smaller ones. This maximimizes NSF fees.
Below is summary of my account where both issues plain shown.
06/01 NSF CHARGE $36.00
06/01 NSF CHARGE $36.00
06/01 NSF CHARGE $36.00
06/01 NSF CHARGE $36.00
05/31 CREDIT REG. SALARY $1,758.64
05/31 DEBIT FOR CHECKCARD$8.06
05/31 BLOCKBUSTER ONLINE $15.14
05/31 NSF CHARGE $36.00
05/31 NSF CHARGE $36.00
05/31 NSF CHARGE $36.00
05/31 NSF CHARGE $36.00
05/31 NSF CHARGE $36.00
05/31 NSF CHARGE $36.00
05/31 Wal-Mart Super $48.52
05/31 Wal-Mart Super $55.78
05/31 SPEAKEASY $73.78
05/31 TEXAS HEALTH $75.00
05/31 TELLER CASHED $115.00
05/31 FED CLEARING $135.00
05/27 BURGER KING $2.79
05/27 CHEVRON/RITZ $4.31
05/27 Debit $8.50
05/27 BIG LOTS $12.91
05/27 COSTCO GAS $23.90
05/27 TOM THUMB $27.07
05/27 COSTCO WHSE #0 $34.84
05/27 FED CLEARING $450.07
Take a note on 05/27 all debits are arranged in descening order which forces my account in overdraft. If debits will be arranged in any other way NSF fess will not be paid on EACH of THEM but only on which my account become negative.
Look further on 05/31 I received my salary and there were some debits on the same day. Note that debits are put before credit which again is done to maximize fees. Also note that this was direct deposit which usually available to banks in several days in advance but they still put it on the last day of the month plus after all debits.
My suggestion which feel Compass bank using shady practices - complain to attorney general. Fill in online form oag. State. Tx.Us/forms/cpd/cpd_getcounty.php
I did mine, if you do yours and so on they will have to investigate.
Again, I'm not against them charging overdraft fees I'm against them arranging financial flas in such a way that bank will maximimize their NSF fees.
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