Report: #658903

Complaint Review: BBVA Compass- Northglenn, Colorado

  • Submitted: Fri, November 05, 2010
  • Updated: Sat, November 06, 2010
  • Reported By: Linda — 80234 Colorado U.S.A.
  • BBVA Compass- Northglenn, Colorado
    480 east 120th ave #!
    Northglenn,, Colorado
    United States of America
  • Phone: 303-252-0400
  • Web:
  • Category: Notary

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Compass Bank processes transactions based on transaction date and note the date the article is presented to the bank for payment. Specifically, offline (debit card Credit) transactions are sent to the bank at midnight of the next day for payment from the bank. It's just like a check. If you have a direct deposit waiting to post also at midnight, then the bank will still process the debits in the order of the transaction time and not in credit-then-debit order. Compass bank actually refers to these "pre-post" transactions because they quickly learned that they could possibly charge you overdraft fees regardless of any deposits you may be trying to make.

So, deposit your $100 check today with a balance of $5 and it won't post until midnight. After you deposit your money, go to the grocery store and charge (as a Credit transaction) a $10.00 in groceries. Compass Bank will run the transactions such that your grocery transactions posts first and the deposit posts last. Therefore, although your intention was to have $100 to cover your extra $5 in groceries - the bank realizes they can take out the groceries first, charge you $38 for an overdraft and then post your deposit and STEAL your money without you being able to do anything about. You wake up tomorrow thinking you have $90, and you really now only have $52 because the bank screwed you while you slept.

When you call them and ask what happened, they kindly explain that you don't understand what your doing and you should manage your transactions better. They also won't refund the money. And when you ask for a supervisor, they say they will have one call you back. But they never do. And when you call to ask them why they never returned your call, they say they can't find any note of a call in your file. Time and again, the note for a supervisor to call me is never noted in my electronic file (they must you use cheap sticky notes that don't stick very well - but with $38 for an overdraft, you'd think they could afford relatively sticky notes).

So, they manipulate transaction posting to maximize overdraft fees. However it best suits their income needs is the way they'll process it. I thought the law was to post deposits first and then debits when the requested time of posting is equal (midnightl

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This report was posted on Ripoff Report on 11/05/2010 03:45 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Comment

Here is how to fix it..

AUTHOR: Robert - (U.S.A.)

 So, deposit your $100 check today with a balance of $5 and it won't post until midnight. After you deposit your money, go to the grocery store and charge (as a Credit transaction) a $10.00 in groceries.

- So you spend money before it is available and you are upset that you got an Overdraft fee?  Well there are a few easy things to fix it. 

If this is the true situation then you seem to be "opted-in" to overdraft protection.  So the first thing you need to do is to go into the bank and "opt-out".  This way if there is not enoug money available at the time you attempt to make a debit card or ATM transaction it will be declined.  Now you will get declined at the Point of Sale but at least you won't get charged an Overdraft fee.

Second since you know how they post transactions, don't attempt to spend money before it is available.  Oh, and if you don't like how they post them then go to another bank that posts it the way you want.  There are many who post credits before debits.  But it is YOUR responsibility to understand the terms of the account.

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#2 Consumer Comment

Time and again

AUTHOR: coast - (USA)

So you overdraft often. You know the game but keep getting beat. Try waiting for the deposits to post before spending.
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