Compass Bank processes transactions based on transaction date and note the date the article is presented to the bank for payment. Specifically, offline (debit card Credit) transactions are sent to the bank at midnight of the next day for payment from the bank. It's just like a check. If you have a direct deposit waiting to post also at midnight, then the bank will still process the debits in the order of the transaction time and not in credit-then-debit order. Compass bank actually refers to these "pre-post" transactions because they quickly learned that they could possibly charge you overdraft fees regardless of any deposits you may be trying to make.
So, deposit your $100 check today with a balance of $5 and it won't post until midnight. After you deposit your money, go to the grocery store and charge (as a Credit transaction) a $10.00 in groceries. Compass Bank will run the transactions such that your grocery transactions posts first and the deposit posts last. Therefore, although your intention was to have $100 to cover your extra $5 in groceries - the bank realizes they can take out the groceries first, charge you $38 for an overdraft and then post your deposit and STEAL your money without you being able to do anything about. You wake up tomorrow thinking you have $90, and you really now only have $52 because the bank screwed you while you slept.
When you call them and ask what happened, they kindly explain that you don't understand what your doing and you should manage your transactions better. They also won't refund the money. And when you ask for a supervisor, they say they will have one call you back. But they never do. And when you call to ask them why they never returned your call, they say they can't find any note of a call in your file. Time and again, the note for a supervisor to call me is never noted in my electronic file (they must you use cheap sticky notes that don't stick very well - but with $38 for an overdraft, you'd think they could afford relatively sticky notes).
So, they manipulate transaction posting to maximize overdraft fees. However it best suits their income needs is the way they'll process it. I thought the law was to post deposits first and then debits when the requested time of posting is equal (midnight).
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