I am a business owner in Humble Texas and I have paid over $9000.00 in overdraft fees this year. I do not qualify for overdraft protection. 70% of my deposits are made in cash and before 4pm. Deposits are not ran until midnight and after transaction for that day is cleared. Another bank used to do the same thing until they were sued fo this action.
Why can Compass Bank get away with this? I have argued and threatened to leave and all I get is this is or policy so deal with it. Since the new banking law my customers have bounced many checks with me. Some have created overdrafts (that I understand). But overdrafts that create overdrafts I don't! Another bank has automatic deposits, so do other banks. Why can't Compass Bank move into the 21st century and do the same?
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