Compass Bank ripoff Decatur Alabama

According to Compass Bank's latest disclosure (I went by the branch for it today)
Quote:
Our policy is to make funds that you deposit in your account available on the day of deposit for the payment of checks presented through normal check collection channels.

Customer service told me that with direct deposits, the money is available at the moment they receive it, then another told me it was when it was released. But then they told me that if any checks were actually written before they received or released the direct deposit, they would be posted first, even if they came in on the same day. So even if the deposit is available, their policy in practice is to post it last.

They can tell you time exact time a direct deposit is received and released, by the way.

According to Compass Bank's latest disclosure (I went by the branch for it today)
Quote:
Our policy is to make funds that you deposit in your account available on the day of deposit for the payment of checks presented through normal check collection channels.

Customer service told me that with direct deposits, the money is available at the moment they receive it, then another told me it was when it was released. But then they told me that if any checks were actually written before they received or released the direct deposit, they would be posted first, even if they came in on the same day. So even if the deposit is available, their policy in practice is to post it last.

They can tell you time exact time a direct deposit is received and released, by the way.

According to Compass Bank's latest disclosure (I went by the branch for it today)
Quote:
Our policy is to make funds that you deposit in your account available on the day of deposit for the payment of checks presented through normal check collection channels.

Customer service told me that with direct deposits, the money is available at the moment they receive it, then another told me it was when it was released. But then they told me that if any checks were actually written before they received or released the direct deposit, they would be posted first, even if they came in on the same day. So even if the deposit is available, their policy in practice is to post it last.

They can tell you time exact time a direct deposit is received and released, by the way.

According to Compass Bank's latest disclosure (I went by the branch for it today)
Quote:
Our policy is to make funds that you deposit in your account available on the day of deposit for the payment of checks presented through normal check collection channels.

Customer service told me that with direct deposits, the money is available at the moment they receive it, then another told me it was when it was released. But then they told me that if any checks were actually written before they received or released the direct deposit, they would be posted first, even if they came in on the same day. So even if the deposit is available, their policy in practice is to post it last.

They can tell you time exact time a direct deposit is received and released, by the way.

First, I seriously doubt that Compass monitors every account to find ways to charge fees.

Second, avoid using a check card for pay at pump gas purchases, resturants, car rentals or hotel rooms. The reason being that the company will place a hold on funds in your account estimated above what the actual cost might be. This assures them that they will be paid. The hold can be in place for days until the actual charges are processed and posted to your account during which time those funds cannot be drawn upon (even if it is more than what the actual cost is). There may be a section in your account terms and conditions that may explain this better than I can.

Third, never rely on the balance reported by the bank's web site, ATM or phone system. The only way to keep an accurate balance is to maintain your own account register. You should only be using the bank's web site to determine when deposits have posted to your account (though your deposit receipt should have that information on it as well). That way you can determine when the funds of your deposit are available to draw against.

Since Compass seems to be habitual in the delay of posting deposits (they refunded your fees so it can be assumed they admitted fault) if you haven't already done so, it may be a good idea to take your banking business elsewhere. Spend some time researching by going the bank's web site that you may want to do business with and read through their terms and conditions for their account (you may have dig around to find it though).

Bank's have a lot of policies that appear to benifit the customer but have obvious pitfalls associated with them (like most things in life).

Read through your account's terms and conditions whether you keep your account at Compass or change to another bank. This way you'll be aware of the "catches" associated with your account's "features" and "conveniences".

Banks are a business and if they can make money off of you they will.

Good luck.

If you made a cash deposit on friday it should have been available Saturday morning and should have been in the posted balance.

However, Compass is screwy, they do weird things with money when you deposit it. It sounds malicious, but they probably saw the purchases you made over the weekend and figured out that if they posted the cash deposit later they could asses you some fees.

I find it amusing, they want to RUSH any debits out of your account asap, but they take their sweet a*s time when you make a deposit to credit it to your account. That allows them a window to look for ways to find fees.

Bank elsewhere, they are criminals.