Compass Bank Outrageous NSF Fees Gilbert Arizona

Jim...Heard from the bank this morning and the bank was in error. Bad accounting? Not on my end. The bank stated that the computer inadvertently charged each item twice. Am I relieved? I think not! Do I think there is a member of the bank whose job is to pick and choose different accounts they want to sabotage? No. But I do believe if you are going to let computer systems run your company, you better make d**n sure they've had their coffee that morning. Fortunately, although required, the bank has issued a full refund. But would they have had I not called them on their "forgivable bank error"?

Now you stated, "it's all pretty simple". I caught the implication. Rest assured, I am no dummy and while earning my master's degree (with honors I might add), I did work for a bank. A very large one and I am FULLY aware of what they can and cannot do and believe me...you'd be shocked to know.

wrongway, you wrote the bank's customer service stated to you, "There are pending items that you can't see but they're there and we have charged you for the 2 transactions that went through (even though the funds were there), we have also charged you for the two (mysterious) pending items, and then due to that causing a negative balance, 2 more transactions went through causing 2 more charges'. Make sense? Doesn't to me either. When I logged on today, EVERY d**n ITEM discussed was there, NO supposed PENDING ITEMS were posted and they worked it to look as if I had a negative balance when all of these monies went through."


It made sense to me and I don't work at a bank. It sounds to me like there were a number of transactions you missed along the way (didn't record, or forgot about), causing your account to pop into the negative. One of the things banks DON"T do is somehow lock specifically to your account and shape the account in such a way as to justify what they told you on the phone. I'm sure the bank talks to thousands of crazy people each day complaining about one thing or the other - they would need to employ thousands of people to do what it is your alledging, and they don't. They can't. There are not enough NSF fees in the world to pay for it.

You also asked if the bank provides an online account and it isn't accurate, why do they do they provide it? The reason is that with all of the fraud out there, it is important for customers to check their online statements for transactions they did not authorize, and for you to record fees as they happen so that your register is as accurate as possible. If these mysterious transactions were fraudulent, it is up to you to go to the merchant and ask what the hell they're doing. If the transactions are legit, there's nothing you can do. It is not for you to take the ending balance online as gospel and assume that's the balance in your account - that's what a register is for. You then reconcile your register to what your bank statement states. It's all pretty simple.

Best of luck to you...

You all have rebutted with "use a register". Gee...what a novel idea. Well, tell me smart guys...what about those of us who do use a register, online banking, and automated banking and are still "in the negative"?

I had two transactions go through and according to my register AND online banking, had plenty of money to cover both. I logged on the next day and see two NSF fees WITH a positive balance before them. I called Compass Bank. What the hell is going on here? "Oh, well, can you hold?" I assume this 15 minute hold (literally) was to get their story hashed out. "There are pending items that you can't see but they're there and we have charged you for the 2 transactions that went through (even though the funds were there), we have also charged you for the two (mysterious) pending items, and then due to that causing a negative balance, 2 more transactions went through causing 2 more charges". Make sense? Doesn't to me either. When I logged on today, EVERY d**n ITEM discussed was there, NO supposed PENDING ITEMS were posted and they worked it to look as if I had a negative balance when all of these monies went through.

This is now being "investigated" by a bank manager and could possibly be a "forgivable bank error". What is that I ask? "It's more or less a computer glitch.." (someone got NSF computer key happy). Now you tell me, all of you financially PERFECT people who suggest using a register as if we are idiots...where did I go wrong in this situation?

Oh...and if online banking and automated banking isn't reliable or accurate, then why on earth is it available?

When you decide to close an account that you know you had auto debit transactions on it is still your responsibility to contact the companies that you pay and have them cancel your payments. And an acct cannot be closed unless it is at a zero balance. Also, you should always close the acct in writing not over the phone.