Complaint Review: Compass Bank - Internet
- Compass Bank www.compassbank.com Internet U.S.A.
- Phone:
- Web:
- Category: Banks
Compass Bank puts transactions in an order where they can charge outrageous NSF fees Internet
*Consumer Comment: re:
*Consumer Comment: The reason...
listed on other sites?
Those sites steal
Ripoff Report's
content.
We can get those
removed for you!
Find out more here.
Ripoff Report
willing to make a
commitment to
customer satisfaction
Click here now..
The order in which transactions show in my account is not the order in which my transactions are made. I do not understand why deposits cannot show up just as fast as a debit or at least be placed in line in the order in which they are made. It seems that Compass puts transactions in an order to cause your account to show a negative balance so that they can charge outrageous NSF fees. Compass Bank has already taken several thousands of dollars from me in fees since I have banked with them. Charging such outrageous fees the way they do should be a crime, and is probably why the economy has been in the shape its in. I know there are times when I make mistakes and overwithdraw my account, but even then, one $38.00 NSF is enough to charge without having to charge a $38.00 NSF for each transaction made. It is ridiculous that because of one mistake, you may be charged hundreds of dollars for several NSF fees, and then not be able to pay utility bills, car notes, etc. When you hit someone with fees like that, they cannot recover. No wonder why so many people file bankruptcy. Banking with Compass Bank has been like dealing with a bunch of crooks!
Anonymous
Mobile, Alabama
U.S.A.
This report was posted on Ripoff Report on 01/01/2009 06:48 PM and is a permanent record located here: https://www.ripoffreport.com/reports/compass-bank/internet/compass-bank-puts-transactions-in-an-order-where-they-can-charge-outrageous-nsf-fees-inter-407036. 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
If you would like to see more Rip-off Reports on this company/individual, search here:



#2 Consumer Comment
The reason...
AUTHOR: Edgeman - (U.S.A.)
SUBMITTED: Thursday, January 01, 2009
The reason why banks don't process transactions in the order they are made is because it is the merchants that decide when they submit the charges. The banks can't control the order in which they receive transactions, so they just process from largest to smallest every day. This is standard among banks.
Just stay within your account balance and you'll be fine. It really doesn't matter in what order the transactions are processed so long as you don't overdraft your account.
I agree, it is ridiculous to pay hundreds or thousands of dollars in overdraft fees.

#1 Consumer Comment
re:
AUTHOR: John - (U.S.A.)
SUBMITTED: Thursday, January 01, 2009
All major banks have caught on to this trick of changing the order that checks are processed to maximize profits from the mistakes of their customers...Checks used to be processed based on date received...now they hold checks in batches and process them from highest to lowest to get the max. amount of NSF fees if any one check will cause a negative balance.
Try to join a credit union...they are less evil....
If you can't:
- stop using debit cards...
- If you need to write a check, withdraw the amount in cash from the bank and buy a money order for 49 cents...Yes, it's inconvenient, but it will stop the NSF bounced check cycle.


Advertisers above have met our
strict standards for business conduct.