Report: #1420906

Complaint Review: BBVA Compass

  • Submitted: Wed, January 03, 2018
  • Updated: Wed, January 03, 2018
  • Reported By: Stephanie — Katy Texas United States
  • BBVA Compass

    Katy, Texas
    United States

BBVA Compass Compass BBVA They are reordering transaction, very vague with processing systems, charging excess fees. Katy Texas

*General Comment: Fees

*Consumer Comment: No

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I have noticed this issue going on for a while. Supposedly they are a real time bank, meaning all transactions are processed at real time. This is a lie. They do this with debits when it benefits them and reorder or hold deposits. They do not have any consistent patterns of deposits some process the next bsuiness day, some of 2 business days, nothing ever deposits on Saturdays. 

I am a business customer and was hit with a few NSF fees here and there. When I would calll about them, I would mention that my account was never negative. They tell me every time that the system they see in the bank is different from the mobile banking system. How that is possible is beyond me. 

You cannot opt of overdraft because you are a buinsess. 

This weekend was the last straw. I left floating funds in there to cover weekend debits. I had depsotis that cleared quickbooks and were to be deposited on Saturday. (They do not deposit on Saturday so I knew it would be the next business day) It was not, they deposited 3 on the next business day and 1 the large one 2 business days later. 

They hit me with 10 fees, 10, 38.00 fees and some were for transactions of 1.00.

I went into the bank to have them give me an explanation. He gave me the same spill and then turned his computer around so I could see it. Even his system never show any place that the account balance went negative. He could not even locate it. 

He said he would refund me but only 5 and there was nothing else he could do. He gave me one more but I was still lost out of 4 more fees yet could not be shown where or why the account was being charged. 

I am completly confused, dumbfounded that this is even allowed to happen. 

This report was posted on Ripoff Report on 01/03/2018 05:51 PM and is a permanent record located here: https://www.ripoffreport.com/reports/bbva-compass/katy-texas/bbva-compass-compass-bbva-they-are-reordering-transaction-very-vague-with-processing-sy-1420906. 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 General Comment

Fees

AUTHOR: Walter - (United States)

You said that you were charged NSF fees but did not see a negative balance. This is possible because NSF means Non Sufficient Funds, meaning when the item was presented for payment there was not enough money in the account to cover it. For example, you have $100 in the account but an item for $150 presents. If the bank pays it into overdraft (a negative balance) they'll charge you an overdraft fee (OD). If they return it unpaid, they'ii charge you a NSF fee.

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#2 Consumer Comment

No

AUTHOR: Robert - (United States)

It's not really all that vague..Sorry.

Deposits are subject to their posted Funds Availabilty Policy. If you are unaware of what this is you can contact the bank and have them send you a copy of the terms.  Deposits are also subject to Regulation CC(Expedited Funds Availability Act) which is a FEDERAL regulation and applies to ALL banks.

The EFAA sets forth in very specific languagne when a deposit MUST be made available. In some cases a bank is allowed to hold a check for several additional days. This could be a combination of the amount, where the check was drawn off of, the type of check and your history.   So yes if you have a history of overdrafts they can hold any deposits for a longer period of time.  If you have larger checks they can be held for additional time.  And yes this is all part of the EFAA which again is a FEDERAL regulation and not something they just made up.

The one thing in this post you got right was that deposits are never posted on Saturdays.  But they are also never posted on Sundays, or Holidays with ANY bank.  Debits are also never POSTED on these days. However with electronic banking and debits any funds you attempt to withdraw can be "held" and if that hold causes your account to go negative you can have overdraft fees.  Even on a Non-Banking day. Even if after it is actually posts on the next business day everything "evens out" and you would have ended up positive. This applies regardless of the bank you are with. The main difference here is that some banks will post debits before credits, others will post credits before debits. But again all of this is laid out in their WRITTEN policies.

Mobile Banking was never meant to replace your WRITTEN register. There are many reasons that Mobile banking will not be 100% accurate, many of which are totally out of the control of the bank. If you don't know how to keep a WRITTEN register then you can search online and find a lot of information. You may even find that stopping into a branch they will very likely be more than willing to show you.

But one very interesting item.  As a business, what are you doing having debit card purchsaes of $1 over a weekend?

In the end you shouldn't be that dumfounded that this is even allowed to happen because you are the one allowing it. If you would take repsonsibility over your account you could avoid all of these overdrafts and fees.

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