Compass Bank-Compass Bank-Alliance Branch- Compass Bank Wont Post Your Direct Deposit Before your Debits! Fort Worth Texas

I noticed that many of you commented on the fact that banks pay from largest to smallest in order to "rip off" their clients. There is an another reason for this, it is true they make more money but it often is beneficial to the client as well. Think about it this way, you start the day with $1000.00, spend $5 at Starbuck's, $25 at Chili's, $75 on gas, and oops your mortgage check is coming through tonight for $900! Do you really want your mortgage returned unpaid because you stopped for some java on your way to work? The bottom line is balance your checkbook and you won't ever have to think about fees.

According to your summary, the ONLY way a direct deposit would come after debits is if the debits are from the day before. Remember, Direct Deposits are pending for the day they are supposed to hard post. Same day access means that the morning of the day a direct deposit appears is the day it's available.

example:

a direct deposit for the 23rd would come after transactions posted on the 22nd.

hope this helps.

keep a register and know what your balance is..you won't have any problems.

You said, 'Wow!..so, is this how ripoff report works? You post your deal, and others surf postings and voice their opinions to them? Making them the judge on your case?
If I knew that, Id save my typing....
I didnt know I had to explain myself to others, from all over the world.
I'm glad to know you all live a trouble free life. No advice, just slandering....wow, you forget how ruthless others can be, thanks for the reminder:)
Im done being on the stand.....court is dismissed!
Thanks for coming:)'

Did you really think that ROR was a one-way bash forum - where everyone warms your milk and high-fives you when you bash big business? You seem astounded that there are people here who actually disagree with you. Where do you think you live...Iran?

Grow up, rabbit ears...and stop crying like a little girl. EVERY major bank processes transactions largest to smallest. There is no one who can fix THIS situation for you, but you CAN avoid the situation in the future by keeping a better record of your transactions and conducting business per the terms and conditions that YOU AGREED TO.

There is no ripoff here...just an overdrafter who is a little too sensitive to criticism.

It's not as though the OP stated they have paid thousands of dollars in fees over the last year. Those are the posters we should belittle. After all, they know about their bank's practices and still keep doing the same thing. The OP does not sound like one of those. She has had direct deposit for over a year and it sounds like this is the first time it has happened. She's just learning and she's in shock over this. Remember how you felt when you first learned of this pratice? She's allowed to be upset and confused and she's allowed to vent.

As for a ripoff, it is a ripoff. The banks are doing whatever they can to extort more and more fees. Just because it's legal does not mean it's right. I'm a big advocate of the fact that if I give the bank MY money to put into MY account, it should be used to cover my spending immediately. I know I post on a lot of threads regarding deposits, but that is only to give the OP info on how it works, or what happened, not because I agree with it.

Now the OP knows how her bank works.

Wow!..so, is this how ripoff report works? You post your deal, and others surf postings and voice their opinions to them? Making them the judge on your case?
If I knew that, Id save my typing....
I didnt know I had to explain myself to others, from all over the world.
I'm glad to know you all live a trouble free life. No advice, just slandering....wow, you forget how ruthless others can be, thanks for the reminder:)
Im done being on the stand.....court is dismissed!
Thanks for coming:)

Bart,

First,Im NOT in the banking industry,lol..I worked at a bank...in the processing center,doing exactly what these folks do.BUT, we always took and posted the pending credits first.

Secondly,I have confronted them in the past,and its ALWAYS BEEN corrected by them....their answer was..."I dont know why"...or ..."I dont know why they did that"....this time,when I got bit in the a*s as you worded it,they have no answers. Just,thats the way it is......and they told me...we post debits as they arrive,....funny,they arrived from largest to smallest....

Question? What made you surf Compass reports? You had a problem with them or just advising? Curious:)

I ask again, why didn't you complain about this type of policy before it bit you in the a*s? Surely you were outraged way back then. You wouldn't merely just get outraged now that it actually backfired on you.

The fact you used to work for a bank is meaningless. The fact is the account agreement you signed (just like every other bank out there) allows the bank to post transactions in any order at their discretion, whether you a current bank employee, a former bank employee, or never a bank employee. The days of living on the float are gone - those days no longer exist. Everyone needs to get used to that. Since you have this experience, what you should do is fashion your register to post the deposit to your account AFTER all of the spending you do on the day your deposit hits. If you do this, you will be far more accurate than most people who keep a register of transactions. This assumes you keep a record of your transactions - if you don't, then shame on you for not.

You think banks post transactions higher to lower so they make more money from its customers? So do I. The issue is whether they should be allowed to do that. You don't. I EXPECT them to. We all should - banks are for-profit entities with shareholders that expect profits to be made. We can all make certain their profits aren't taken out at our expense, either through maintaining positive balances in our accounts all of the time, or to move our accounts to a credit union.

Finally, what they're doing is legal and the courts have ruled in the bank's favor everytime, except once. The banks did lose a case where disclosure was not considered to be sufficient. In that case, the prosecuting attorney admitted in open court that the bank HAS THE RIGHT to post transactions in ANY order they wish - a indictment against his own clients. The award? Less than one NSF fee for each member of the class. Forget getting the money back - this is on you.

The fact you used to work for a bank is meaningless. The fact is the account agreement you signed (just like every other bank out there) allows the bank to post transactions in any order at their discretion, whether you a current bank employee, a former bank employee, or never a bank employee. The days of living on the float are gone - those days no longer exist. Everyone needs to get used to that. Since you have this experience, what you should do is fashion your register to post the deposit to your account AFTER all of the spending you do on the day your deposit hits. If you do this, you will be far more accurate than most people who keep a register of transactions. This assumes you keep a record of your transactions - if you don't, then shame on you for not.

You think banks post transactions higher to lower so they make more money from its customers? So do I. The issue is whether they should be allowed to do that. You don't. I EXPECT them to. We all should - banks are for-profit entities with shareholders that expect profits to be made. We can all make certain their profits aren't taken out at our expense, either through maintaining positive balances in our accounts all of the time, or to move our accounts to a credit union.

Finally, what they're doing is legal and the courts have ruled in the bank's favor everytime, except once. The banks did lose a case where disclosure was not considered to be sufficient. In that case, the prosecuting attorney admitted in open court that the bank HAS THE RIGHT to post transactions in ANY order they wish - a indictment against his own clients. The award? Less than one NSF fee for each member of the class. Forget getting the money back - this is on you.

The fact you used to work for a bank is meaningless. The fact is the account agreement you signed (just like every other bank out there) allows the bank to post transactions in any order at their discretion, whether you a current bank employee, a former bank employee, or never a bank employee. The days of living on the float are gone - those days no longer exist. Everyone needs to get used to that. Since you have this experience, what you should do is fashion your register to post the deposit to your account AFTER all of the spending you do on the day your deposit hits. If you do this, you will be far more accurate than most people who keep a register of transactions. This assumes you keep a record of your transactions - if you don't, then shame on you for not.

You think banks post transactions higher to lower so they make more money from its customers? So do I. The issue is whether they should be allowed to do that. You don't. I EXPECT them to. We all should - banks are for-profit entities with shareholders that expect profits to be made. We can all make certain their profits aren't taken out at our expense, either through maintaining positive balances in our accounts all of the time, or to move our accounts to a credit union.

Finally, what they're doing is legal and the courts have ruled in the bank's favor everytime, except once. The banks did lose a case where disclosure was not considered to be sufficient. In that case, the prosecuting attorney admitted in open court that the bank HAS THE RIGHT to post transactions in ANY order they wish - a indictment against his own clients. The award? Less than one NSF fee for each member of the class. Forget getting the money back - this is on you.

It only mades sense if you have a deposit and debits,youd run the credit first.
Thats how it was where I worked. But,again not all banks run the same.
But,youd think since the credit was there,actually pending two days prior,theyd post it before the debits. They told me the credit was pending..this is how I know before others ask how i know:)...so they knew the money was right there....their in the market to MAKE money,simple as that.
Your right,I have questions,because it doesnt make sense to me,but,who am i.
I yanked my money...if they fix it great,if they dont,so be it. Lesson learned,and a mark up for them being rip offs.

That if you'd worked for a bank, any bank, you'd know how YOUR bank process their transactions, how direct deposits work AND how they screw their customers over. I can understand how some uninformed civilian could misunderstand a bank's policies and procedures but not someone in the "financial industry". "Why didn't they post our check first"? "And you mean to tell me they run debits as they come in"? For someone who has been in the banking industry, you're asking alot of questions. What's the old saying? DEBITS BEFORE CREDITS and what 90%+ banks run largest to smallest, just so they can rip off their customers. It IS a rip off, but I'd think you'd already know that.

Thank you both for the words of wisdom.
But...I didnt take you back to 12 months ago,that would call for a long posting.
Curious,do you work for a bank or did you?
I did.And know for a fact the control they have.
Curious why you were surfing under Compass bank ripoff reports?
I had the money to cover it...if you re-read the post. But,they chose not to run them smaller to higher~~Why DONT they do it that way? Why do FEW do it that way~~Ill tell you why,to suck your money,and hit you for every nsf they can.
Why is it all of us dont know how to count on here? And Compass is always in the right? And you say the samething,we cant handle our money. I am handling it alright from now on,under my MATTRESS.

Interesting,but thank you for your,help...I think.

The direct deposit is posted and available to draw against on Friday AM. You can't draw against it for Thurday transactions.

Since the debit transactions were performed on Thursday (since they posted to your account on Friday) the transactions were against non sufficient funds, therefore the fees charged.

Here's a simple way to prevent future fees. Don't make the transaction if your account does not have enough available funs at the time. Don't count on when the transaction will post. That is a sure fire way to have fees accessed.

Very few banks do not post largest to smallest. Those that do not are hard to find.

Also to prevent future "surprises" read through your account terms and conditions. There is plenty of information in there that details how your bank processes transactions and you will not have to make incorrect assumptions in the future.

Why did you not have an issue with them posting this way for a whole year before this happened?
Nothing changed except you spending money that wasn't in the account. Seems no one REALLY cares until they are caught with their pants down.