Usacomplaints.com » Business & Finance » Complaint / Review: Compass Bank - Items cleared same day as deposit, billed almost $300 in nsf fees for 7 small transactions. #306378

Complaint / Review
Compass Bank
Items cleared same day as deposit, billed almost $300 in nsf fees for 7 small transactions

If you value your hard-earned money, do not bank with Compass Bank. My direct deposit goes in every Friday. I had 7 items clear my checking account the very day that my direct deposit went through. When I inquired about this with customer service, they told me that regardless of when they cleared my account, the transactions had been "authorized" the day before. & all they can say is that "we're not in the business to loan out money this way". If you think about it -they are. I read a study that reflects that banks on average charge more than $25,000, 000,000.00 in NSF fees per year. Does anyone else think that this is a ridiculous number of zeros? Now that is not just Compass Bank, however I have found that Compass Bank's fee amounts are among the highest. Think about the interest percentages of your average loan. If you consider my situation a loan, my interest in this case would come to approximately 300%, to borrow funds for less than an hour. I'd rather get mugged for everything in my wallet. If my case is not a perfect example of corporate rape, I don't know what is.

In addition to this, the NSF fee amounts are so high, & they don't bill you the fees for a few days, so what happens is -you'll thing everything is fine because the website our your checkbook will say so. Then when you least expect it, they bill you this outrageous amount conveniently after you've already spent more money to get you bills paid -taking your balance back into the negative so that you get billed more fees for those transactions. Then you call customer service again, to get the same incompetent rep who can't do anything for you except tell you to wait for a sup to call you within 24 hours. The so-called supervisor is a very hateful woman who cares nothing about you beyond making sure your money gets taken by the bank. She made it very clear that they don't care about their clients. All she could tell me was what their policies were, & even had the nerve to say "you should've kept a detailed ledger". How is it possible to keep a detailed ledger, when the website is never up to date & the fees are billed with out expectation. Transactions go into the state of "pending" for anywhere between 1-10 days.

The closest branch to me is about 7 miles away. I work normal business hours & quite a distance away from any branch -which means that they're always closed when I'm able to go to the bank. This means I have to use the ATMs to make a lot of deposits. I have often gone to make a deposit, just to find out that the ATM (s) are out of order -I get this about twice a month. This means I have to drive to the next closest branch which is 15 miles away - sometimes see that even that one is out of order. Now with gas prices @ $4 a gallon now, & fees being billed because you CAN'T make your deposit -I'm sure you can imagine the frustration. Compass Bank bills clients for errors regardless of who'f fault it really is. Why is it that when the bank makes an error, a client can't bill them $38 per error? Horrible!!!


Offender: Compass Bank

Country: USA   State: Arizona   City: Scottsdale
Site:

Category: Business & Finance

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