On June 2nd I called the customer service phone number for Compass Bank and closed my account. I had no concerns since I've been with Compass Bank for nearly 4 years. I needed to leave a balance of $50 due to an uncleaerd check. Thinking the account was closed and no further charges could occur after the last check cleared, I received a NSF letter in the mail on June 23rd. The letter stated they did me a favor and cleared 3 auto debits totaling $59 even though the funds were not available.in addition to helping me out, they assessed my account $114 for their services.By the time I read the letter, I signed into my online account with Compass Bank and they did me another favor... They assessed my account another $42 for having a negative balance for 7 days.
After a call to Compass Bank customer service again, the representative informed me that the account could never be closed since it had a balance (either positive or negative). So they are currently doing me yet another favor and assessing my account $7/day since I refuse to pay for these "favors".
In my opinion, I think these big banks around the country today thrive on NSF fees amongst other fees they pass to the customer. They are willing to let the account overdraw then charge 3 times the amount for their "help". How else are they to pay for the advertisements, lush buildings, sport park sponsoring and multi million dollar executive bonuses?
Lesson learned about Compass Bank... Don't trust customer service. You'll get a difference answer every time. Don't EVER think they're on your side. Compass Bank knows it's only a matter of time before they can "help" you with their favors. Then you'll end up right here, just like me, complaining about their business practices which you cannot change. Run away fast!
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