Compass bank has taken to preying on poor people. Used to, you had to have good credit to open an account. Now, they like low credit people because of their $30 per return check fee.
A single woman I am friends with showed me a statement of hers from them. She had a $350 ck. Bounce from her ex-boyfriend. This caused her account balance to be around $110. She had a $190 ck., a $90 ck., and 2 around $50 each. Now, instead of paying the 2 $50 cks. And bouncing the other 2 they structered it to where they ALL bounced even though the small cks. Were paid at the bank BEFORE the 2 larger cks. $120 in return ck. Fees plus return ck. Fees from the places she wrote her cks. To. Had she previously bounced cks. At this institution? Yes, twice. Both times previously they applied the checks before the deposits, bounced the cks., applied the deposit and collected their fees.
Since then I have learned this is common practice at Compass Bank. They are making a FORTUNE off the poor people who can least afford those fees. That they haven't been caught gives testament to the fact the people they are preying on have the least means and ability to pursue remedies.
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