Compass Bank Warning - Debits are processed before credits Birmingham Alabama

Yeah, it's real easy for people to sit back and point the finger about not going beyond your available balance and what not. Well what do you have to say about Compass bank not making CASH deposits available to cover items presented to the account? Cash is cash. And when you make a deposit, you expect it to be available IMMEDIATELY! Well I have learned the hard way that is not the case with Compass bank. They are in fact in the business of making as much off their customers on NSF fess as they possibly can--whether this means changing up the order of the way debits and credits are presented on the account, or just flat out putting a hold on funds deposited when they feel like it. And I have learned that it varies from branch to branch, person to person. I was told that unless you tell the banker at the time you make the deposit that you want it to post automatically, then there is an automatic hold placed on the funds for 2-3 business days. WHAT??? WHY????? Common sense (and every other bank I have ever banked with) says when you put cash in your account, it's available immediately, no need to request it to be. So ridiculous! I have had this happen to me on numerous occasions with Compass and after talking to about 10 different people over a two week period, I was finally told that they are not an "online" bank and that everything posts at midnight (both debits and credits) regardless of when the cash deposit was actually made. So, conveniently, all the debits just so happen to post to the account at midnight before the cash I deposited during the day posts to the account, generating numerous NSF fees. I was hit with over $500 worth for a total of about $200 worth of charges. And, this was all b/c I made a cash deposit on a Friday to cover expenses I would incur on a trip over the weekend. I talked with several bankers who assured me that the funds would post immediately and that I was covered. I needed this assurance because they had pulled this crap in the past of putting holds on deposits. Anyway, I head out of town and use my check card as usual. I check my account on Monday and everything looked good. Again on Tuesday and everything looked fine. Then SURPRISE on Wed. morning I have been hit with about 10 NSF fees from where they changed up the order on the debits and credits from Friday, and then it was a downward spiral from that point on. I must have talked to at least 5 different people before anyone could explain to me why the fees did not hit my account from Friday until Wednesday. I was told there is also a 2 day business lag for fees to hit. This is so that they can make even more fees off of the fees!! So naturally, I had been using my card and had not factored in the 380 in fees, so then I made several cash deposits to keep from being over drafted by the fees, and once again, they put a hold on the cash deposits and had the debits clear first at midnight and the end result was me paying $500 in fees. Customer service was generous enough to refund 2 of the 13 fees!!! Compass bank is ripping customers off and I would advise you stay FAR-FAR away from this bank. . .of course they will NEVER admit to this. Being an accountant, I would love to see the line on their income statement for NSF fees. . . .it HAS to be a major source of income for them. This is just WRONG!

Yeah, it's real easy for people to sit back and point the finger about not going beyond your available balance and what not. Well what do you have to say about Compass bank not making CASH deposits available to cover items presented to the account? Cash is cash. And when you make a deposit, you expect it to be available IMMEDIATELY! Well I have learned the hard way that is not the case with Compass bank. They are in fact in the business of making as much off their customers on NSF fess as they possibly can--whether this means changing up the order of the way debits and credits are presented on the account, or just flat out putting a hold on funds deposited when they feel like it. And I have learned that it varies from branch to branch, person to person. I was told that unless you tell the banker at the time you make the deposit that you want it to post automatically, then there is an automatic hold placed on the funds for 2-3 business days. WHAT??? WHY????? Common sense (and every other bank I have ever banked with) says when you put cash in your account, it's available immediately, no need to request it to be. So ridiculous! I have had this happen to me on numerous occasions with Compass and after talking to about 10 different people over a two week period, I was finally told that they are not an "online" bank and that everything posts at midnight (both debits and credits) regardless of when the cash deposit was actually made. So, conveniently, all the debits just so happen to post to the account at midnight before the cash I deposited during the day posts to the account, generating numerous NSF fees. I was hit with over $500 worth for a total of about $200 worth of charges. And, this was all b/c I made a cash deposit on a Friday to cover expenses I would incur on a trip over the weekend. I talked with several bankers who assured me that the funds would post immediately and that I was covered. I needed this assurance because they had pulled this crap in the past of putting holds on deposits. Anyway, I head out of town and use my check card as usual. I check my account on Monday and everything looked good. Again on Tuesday and everything looked fine. Then SURPRISE on Wed. morning I have been hit with about 10 NSF fees from where they changed up the order on the debits and credits from Friday, and then it was a downward spiral from that point on. I must have talked to at least 5 different people before anyone could explain to me why the fees did not hit my account from Friday until Wednesday. I was told there is also a 2 day business lag for fees to hit. This is so that they can make even more fees off of the fees!! So naturally, I had been using my card and had not factored in the 380 in fees, so then I made several cash deposits to keep from being over drafted by the fees, and once again, they put a hold on the cash deposits and had the debits clear first at midnight and the end result was me paying $500 in fees. Customer service was generous enough to refund 2 of the 13 fees!!! Compass bank is ripping customers off and I would advise you stay FAR-FAR away from this bank. . .of course they will NEVER admit to this. Being an accountant, I would love to see the line on their income statement for NSF fees. . . .it HAS to be a major source of income for them. This is just WRONG!

Yeah, it's real easy for people to sit back and point the finger about not going beyond your available balance and what not. Well what do you have to say about Compass bank not making CASH deposits available to cover items presented to the account? Cash is cash. And when you make a deposit, you expect it to be available IMMEDIATELY! Well I have learned the hard way that is not the case with Compass bank. They are in fact in the business of making as much off their customers on NSF fess as they possibly can--whether this means changing up the order of the way debits and credits are presented on the account, or just flat out putting a hold on funds deposited when they feel like it. And I have learned that it varies from branch to branch, person to person. I was told that unless you tell the banker at the time you make the deposit that you want it to post automatically, then there is an automatic hold placed on the funds for 2-3 business days. WHAT??? WHY????? Common sense (and every other bank I have ever banked with) says when you put cash in your account, it's available immediately, no need to request it to be. So ridiculous! I have had this happen to me on numerous occasions with Compass and after talking to about 10 different people over a two week period, I was finally told that they are not an "online" bank and that everything posts at midnight (both debits and credits) regardless of when the cash deposit was actually made. So, conveniently, all the debits just so happen to post to the account at midnight before the cash I deposited during the day posts to the account, generating numerous NSF fees. I was hit with over $500 worth for a total of about $200 worth of charges. And, this was all b/c I made a cash deposit on a Friday to cover expenses I would incur on a trip over the weekend. I talked with several bankers who assured me that the funds would post immediately and that I was covered. I needed this assurance because they had pulled this crap in the past of putting holds on deposits. Anyway, I head out of town and use my check card as usual. I check my account on Monday and everything looked good. Again on Tuesday and everything looked fine. Then SURPRISE on Wed. morning I have been hit with about 10 NSF fees from where they changed up the order on the debits and credits from Friday, and then it was a downward spiral from that point on. I must have talked to at least 5 different people before anyone could explain to me why the fees did not hit my account from Friday until Wednesday. I was told there is also a 2 day business lag for fees to hit. This is so that they can make even more fees off of the fees!! So naturally, I had been using my card and had not factored in the 380 in fees, so then I made several cash deposits to keep from being over drafted by the fees, and once again, they put a hold on the cash deposits and had the debits clear first at midnight and the end result was me paying $500 in fees. Customer service was generous enough to refund 2 of the 13 fees!!! Compass bank is ripping customers off and I would advise you stay FAR-FAR away from this bank. . .of course they will NEVER admit to this. Being an accountant, I would love to see the line on their income statement for NSF fees. . . .it HAS to be a major source of income for them. This is just WRONG!

You know you are as you already had to throw out the lame 'employee' excuse when you are proven wrong.
Fees and the way the bank operates are disclosed to the people when they open an account. If you don't spend more money than you have, you can not overdraft. It's just that simple.

You have every right to be angry. Compass Bank is a cesspool of extortion. I suggest calling around to other local banks & switch to another that credits deposits before Debits.

Most large banks process debits before credits. At least every major bank that I can think of does this. There's nothing wrong with that either. As long as you stay within your available balance, it's not an issue.

It is only a problem if one attempts to float funds.