ATM, VISA, EFT's not treated as priority in posting to banking accounts. The bank system will approve of the Visa debit, ATM, or other EFT transaction indicating the funds are there and available, but when it comes time to post them to the account the funds are not available and so "bounces" it. In the meantime, a check comes in for payment that same day or days after the VISA approval but the system clears that check if it was .01 more.
If the account goes negative after the check posts, the two or three VISA transactions that were approved before "bounce" and NSF charges are tacted onto the account. When in reality, the two or so VISA approvals would not have went NSF instead the check would if the account wasn't properly maintained by the account holder. Since, the check was higher and the system disregards the prior approvals (which set the funds aside and become unavailable to use by other VISA or check payment requests) the VISA approvals are paid but Compass' system pushes them aside.
Example: (transactions coming to the bank)
Account Balance: $105.00
10-08-04 VISA DEBIT APPROVED for $15.00
10-09-04 COMPASS BANK ATM WITHDRAWAL ACCEPTED for $25.00
10-11-04 Check #100 POSTED for $100.00
Account Balance: $5.00
10-11-04 VISA DEBIT POSTED(approved 10-08) for $15.00
10-11-04 ATM WITHDRAWAL POSTED (approved 10-09) for $25.00
Visa and ATM posted after approved and Compass charges NSF
10-11-04 NSF for VISA $35.00
10-11-04 NSF for ATM $35.00
Account Balance: -$165.00
The account holder did make the mistake in his/her register or NSF charges would not occur. There would be a NSF charge because check #100 would not have cleared, when the others would've. But since they are less than the check amount they are posted last, even they where approved first.
Approved first means paid first.
But, everyone with a checking account knows at times, even pennies of a mistake occur and if you work paycheck to paycheck this is bound to happen.
Compass Bank knows this. Compass knows that we make mistakes - even pennies of a mistake and so set up a system that disregards the banking etiquette (normal legal banking practises) and make them richer when there is "pennies of a mistake" by their account holders. If Compass' system honored the "available balance" rule when approving VISA DEBIT, ATM transaction why doesn't it do it when payment is made? A bank can't legally say "Yes - the funds are there" and then later they are not.