Thinking about depositing money with Compass Bank? THINK AGAIN. Through personal experience, I'm learning that Compass Bank is notorious for playing games with their customers through the use of erroneous late fees, hidden charges, and the latest scam, WITHHOLDING INTEREST on your savings and money market accounts if you close them before the end of your statement cycle. I recently closed a money market account and moved the funds to another bank.
When my final statement arrived, Compass refused to pay the interest due (about $450), tried to charge a fee for the account falling below a certain balance level (even though it had been closed) and the grand finale: a $20 fee to wire the funds to another bank.
Compass, of course NEGLECTS to tell you about any of this until after the fact, and then HIDES behind the small print on the back of the paperwork used to open the account. Can anyone say CLASS ACTION LAWSUIT? I doubt if I'm the only former customer who's been cheated by this poor excuse for a bank. Do yourself a favor and find a bank that doesn't get off on cheating loyal customers.
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