My complaint is about the new monthly service charges being charged by Compass Bank starting since February 2011. I think it is particularly serious since it could hurt groups like the elderly or college students financially.
I discovered today that BBVA Compass had charged me $8.95 on the 22nd of April 2011, and went to the bank to question why. They claimed that I should have received a letter about it in February. I recieved no such letter. I also noticed that the Compass branch on San Felipe, Houston was completely empty of customers. I've never saw that bank this empty.
People may find that if they have any accounts with less than $1500 in them then they are now being charged $8.95 A MONTH EVERY MONTH just to bank with Compass and Chase Banks. These charges may also apply to other banks.
This is going to hit groups like the elderly, college students and people living on their pay cheques most of all. Since February 2011 the charges apply.
On 22nd of April Compass took $8.95 FOR MONTHLY SERVICE CHARGES in a small account I kept to recieve my Royalties from my books. The account had a few hundred dollars in it. Even if the account had had $1499 in it they would still have charged me for the privilege to bank with them!
Chase similarly are now charging $12 for the very same thing. (I enquired there and was told this). My wife also had a small account she kept with Compass, and she was also charged $8.95. We both closed our accounts today.
People have to make sure they close any small accounts they may have, otherwise they may soon find themselves in serious debt.
Think about it, they will keep taking the money until you don't have any and then they will charge you compound interest on every withrdawal that they make which puts you over the limit. The elderly in particular must know about these important changes!