Compass Bank Of Houston deducts an exessive amount of overdraft charges Houston Texas
I currently have a checking account with Compass bank, and it recently went into a negative balance without my knowledge. I deposit my paycheck every week, and the receipt returned did not reflect a negative balance. This is mislead me to believe that I was still able to use my debit card. My account dropped into the red rapidly, because of the unfair charges that were incurred. My negative balance or what I borrowed was paid up almost immediately.
The ridiculous charges dropped my account even more, and then I was charged again because I was not able to produce a positive balance within a certain time deemed sufficient by the company. All said and done, I have been charged $490!! for dropping my account less than half that amount. I see these charges as proposterous, and they should be refunded. Without the charges, my account would be approximately positive $473 when my check clears on Monday night 4/5/04.
I spoke with my local branch manager (Phyllis Alexander) and she promised to refund the charges when my paycheck cleared last Monday 3/29. This never happened, and I visited her again the following week and inquired about this, she told me she didn't remember, and had me leave my information so she could reveiw my account. I fear my concerns fall on deaf ears, and that I have been ripped off of well over $400.
I am a full time student who works 30 hours a week, on top of school. These charges have been devistating to my financial status.
Has anyone ever had these charges refunded?
I can understand a few charges, but when I get charged $35 for a $2.58 debit, several times, it's ridiculous. This is just a way for a bank to steal money.
-Daniel Sciolino
Dan
Houston, Texas
U.S.A.
2 Updates & Rebuttals
James
Spring Hill,Florida,
U.S.A.
I think I may be fortunate
#3Consumer Comment
Sun, July 18, 2004
I have the same problem many of you have had and even wrote up my own report.
The thing that should work out in my favor is that the very paper work they sent me shows all their own flaws.
In my case, they didnt even have to play with numbers like they commonly do. Reversing and randomizing the order of transactions was the least of my problems. They actually created a phantom reason to charge me NSF fees.
Going over (and over and over) all the paperwork that Compass sent me, eg. monthly statemtent, and online statement (which in some cases do not even coinside) They just started charging me overdraft fees dispite the fact that my account wasnt even in the negative.
Like someone else said and this is true for me as well. I am not a saint when it comes to personal finances. I am well aware of my screw ups and pay for them. But I will not pay for Compass Banks screw ups too. It seems to me that this bank is having major financial problems because I am not the only one in my local branch that has this problem.
They are going to be sadly suprised that I am friends with many local merchants and small buisness owners who are all ready and willing to close their accounts tomorrow (July 19th) if my money isnt reistated. And even more suprised that those companys will be closing their accounts anyway within weeks of their proper handling of my situation.
I have plans of reporting Compass to the BBB and WILL file a class action lawsuit against them if this situation isnt handled within the next week.
Good Luck to you all and if I have to go with the C.A.L. It will be reported here so this can be taken to the company by everyone who has a proper claim.
Cyrus
Phoenix,Arizona,
U.S.A.
Try this....
#3Consumer Suggestion
Mon, May 03, 2004
I also had a dealing with Compass and NSF charges that I had previously reported, and first let me begin by saying that I wish you the best of luck in dealing with your situation, and I understand the lack of fair treatment and customer service you are receiving from them. Here's what I did:
First: I cancelled all of the transactions that were scheduled to take place as well as my direct deposit. This is done in order to make sure that they do not get your money for their outrageous NSF charges. If it is too late, hopefully you can get your money back in the end. I had to sacrifice about $50 in order to get my account closed and avoid paying the $588 in NSF charges.
Second: I contacted my local BBB and filed a complaint with them. I know that every state is different, but if you at least show the bank that you are beginning to take action, they will be forced to notice it. In my situation, I received a response immediately.
Third: They will most likely respond to your complaint with the same ignorance that completely denies any responsibility on the banks behalf, let alone resolve anything. This is standard because admission would more than likely cost the manager his or her job. However, if you persist with the issues that remain unresolved, the manager in whom you were dealing with will have no choice but to turn it over to his/her superior, and while he/she will continuously state in their response that you were at fault, they have the authority to write of the NSF charges and close your account and will do so in order to avoid further conflict.
This is only speaking from my own experience and it might not be as easy for you to accomplish. Depending on the situation, it might take a little more, and Compass has allot of hidden fees and policies. Do not let them take your money. When the manager sent me a response via mail stating that he was refunding the NSF charges and closing my account, he also enclosed a new Disclosure booklet that highlighted the NSF charge policy, which had no information pertaining to my situation at all. Regardless of how they try to make themselves feel better by telling you that you were the one in error, getting your money back obviously says that they were not justified in doing what they have done. Either way, it does not matter.
I hope this has been of some help to you, and as I stated earlier, good luck.