Complaint Review: BBVA Compass Bank

I have business accounts with four different banks, including one at the Dickinson TX branch of BBVA Compass. This account was actually opened at Guaranty Bank many years ago.

Since Compass took over several years ago, I have been amazed at the pattern of racketeering they have used to squeeze undeserved fees out of account owners.

As one example, I deposited a check from a client drawn on a bank in Friendswood, a city right next to Dickinson.

My deposit was accepted with no mention of a "hold" being placed. This client writes me a check every month, and there has never been a hold.

Three days later I received a letter from Compass stating that a 3 day hold had been placed on the deposit.

According to my telephone and online banking, the deposit was available the following day. I then ordered several small items (office supplies) online, using my Compass check card. There were six transactions, total of under $100.

Compass paid these items, but charged a $38 NSF fee on each of the six transactions - $228 total.

I haven't had an NSF fee since my college days, in the 70s.

I went to the branch to get this mess straightened out, and spoke with Assistant Manager named Sasha.

She refused to do anything about it, and told me that I should not trust the telephone or online banking, as this is not the same information used by bank employees. Translation: They are keeping two sets of books!

They were "kind" enough to reverse two of the charges, net loss to me of $152. Sasha also admitted the hold on my deposit was an error. So, I asked, if it was an error, why is it costing me $152? She said that she is not allowed to refund more than 2 NSF fees, or she will "get into trouble" with her boss.

Essentially, this is a bank that is trying to make their profits by manipulating deposits and transactions to generate fee income.

If a cash deposit is made on the same day a debit comes through, the debit is processed first. So, if you go to Compass and deposit $100 cash, then go to the gas station and buy $20 worth of gas, it will generate an overdraft fee. If a number of transactions come though on the same day, they will process the largest ones first, so that the subsequent transactions will all get NSF fees.

They have stung me twice with this creative bookkeeping.

I still have the account, as it is connected to some direct-pay accounts. However, I would recommend that anyone who needs a checking account look elsewhere. This is a very poor excuse for a bank.