Compass Bank ripoff Huntsville Alabama

Not only do they take their time posting deposits so they can charge as many fees as possible...But they will also "hold" funds for pending charges so they can charge fees on anything that posts before the pending charges and then charge fees against the original charge because while they had been "holding" funds while it was "pending" the funds were no longer available when it posted.  I have complained to the BBB and am now in touch with the Alabama State Banking Department.

Compass bank posts deposits last, after they have paid the debits that come in that day. They told me it is because of Effective Date Posting. So, if I understood them correctly, if I have a direct deposit received at the beginning of the day on Wednesday, but someone else presents a check later that day that I wrote the night before, they are going to charge me for the check first because it was written before they received the deposit. If I don't have the money, NSF, even if it is positive with the direct deposit.

And if you make on Saturday, it doesn't post on Saturday, even if it is in your available balance. So if you use your debit card on Sunday, and it goes in the negative before they officially "receive" the deposit later in the week, they hit you with it.

Go to the bank and ask for a copy of the funds availability disclosure. This is not the same thing as the schedule of fees. This should be posted inside somewhere, and if they give it to you, it is full of fine print.