ED Magedson – Founder
Compass Bank, BBVA Compass Bank100 East Abram Street Arlington, Texas United States of America
I began banking at this bank when it was Guaranty Bank. I actually was moving to them from CHASE because I was with WAMU when they failed and CHASE took over. Guaranty failed a few months after I began banking there and I learned of this when I went online to check my account one weekend. It showed that BBVA Compass Bank was taking over. I have not banked with Compass before and didn't know anyone who had. I wasn't sure if I wanted to continue banking with them because of all the negatives I have heard and experienced from big banks. I wasn't sure who to bank with though so I used the account sparingly.
Over the weekend I received my first statement in a Compass bank envelope. I opened it up and found that their first official duty was to deduct a $15 inactivity fee on my personal account. I went today to ask for my money back and to close my account. When I got there, I was informed that they also had deducted $15 from my business account for the same reason.
When I signed up for these accounts through Guaranty, these were free accounts. There was no inactivity fee. So Compass imposed a fee that I did not sign up for nor agree to. So they get you coming and going. I thought banks wanted you to keep money sitting there? You could actually go broke doing absolutely nothing.
Thank you Compass for helping me to make up my mind about where not to bank.
This report was posted on Ripoff Report on 04/20/2010 12:28 AM and is a permanent record located here: http://www.ripoffreport.com/r/Compass-Bank-BBVA-Compass-Bank/Arlington-Texas-76010/Compass-Bank-BBVA-Compass-Bank-15-dollar-inactivity-fee-x-2-Arlington-Texas-594766. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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