Compass bank charged me $494 in overdraft fees in 1 week! Huntsville Alabama

Compass bank charged me $494 in overdraft charges in 1 week! I admit I made a mistake in letting the account get overdrawn in the first place, but this seems like an outragous amount of money to charge in fees.

I asked the customer service rep. if there was a limit to the amount of fees that could accumulate before my debit card was cut off (I used my card for 3 days before I realized it was negative) and she said they calculate the amount of fees they will allow to accumulate based on the average balance maintained in your account. So, basically, compass bank will just let the tally climb and climb for as much as they think they can get you for.

I just thought customers considering Compass should be aware of my experience and so they know to be leary. They did do away with 2 charges so in the end I'm only out $418 (2/3 of my paycheck) . . . good to know they'll be reasonable if you make a mistake.

Concernedcustomer
Huntsville, Alabama
U.S.A.