Compass Bank ripoff nsf scam withhold deposits to charge fees fake free checking Birminhgam Alabama
they place a hold on your account to cover charge which results in an overdraft when you complain they say you spent the money then thep add an overcharge fee and when the item clears they charge fees on the part they held back which is what caused the overdraft in the first place if i spent the money on the first and the overdraft occured on the second why am i paying an overdraft fee on money i spent the first
Cynthia
San Antonio, Texas
U.S.A.
4 Updates & Rebuttals
Robert
Wallingford,Connecticut,
U.S.A.
OK, let's see if I understand.
#5Consumer Comment
Tue, May 16, 2006
I think from your post that you used a check card or debit card to pay for a purchase.
What happens is, a hold is placed on the funds in your account for the cost of the purchase. If the balance in your account is less than what the purchase cost is, the bank will charge you a fee for overdrawing your account (the fee accessed on the first). If you do not deposit money into your account to cover the purchase plus the overdraft fee, when the transaction is processed and debited to your account, you will be charged a non sufficient fund fee (the charge in the second). They are two separate fees.
Some banks have an opt out feature so that if there are not enough funds in your account to cover the purchase the transaction will be rejected. Call your bank to find out if they have this available.
Robert
Wallingford,Connecticut,
U.S.A.
OK, let's see if I understand.
#5Consumer Comment
Tue, May 16, 2006
I think from your post that you used a check card or debit card to pay for a purchase.
What happens is, a hold is placed on the funds in your account for the cost of the purchase. If the balance in your account is less than what the purchase cost is, the bank will charge you a fee for overdrawing your account (the fee accessed on the first). If you do not deposit money into your account to cover the purchase plus the overdraft fee, when the transaction is processed and debited to your account, you will be charged a non sufficient fund fee (the charge in the second). They are two separate fees.
Some banks have an opt out feature so that if there are not enough funds in your account to cover the purchase the transaction will be rejected. Call your bank to find out if they have this available.
Robert
Wallingford,Connecticut,
U.S.A.
OK, let's see if I understand.
#5Consumer Comment
Tue, May 16, 2006
I think from your post that you used a check card or debit card to pay for a purchase.
What happens is, a hold is placed on the funds in your account for the cost of the purchase. If the balance in your account is less than what the purchase cost is, the bank will charge you a fee for overdrawing your account (the fee accessed on the first). If you do not deposit money into your account to cover the purchase plus the overdraft fee, when the transaction is processed and debited to your account, you will be charged a non sufficient fund fee (the charge in the second). They are two separate fees.
Some banks have an opt out feature so that if there are not enough funds in your account to cover the purchase the transaction will be rejected. Call your bank to find out if they have this available.
Robert
Wallingford,Connecticut,
U.S.A.
OK, let's see if I understand.
#5Consumer Comment
Tue, May 16, 2006
I think from your post that you used a check card or debit card to pay for a purchase.
What happens is, a hold is placed on the funds in your account for the cost of the purchase. If the balance in your account is less than what the purchase cost is, the bank will charge you a fee for overdrawing your account (the fee accessed on the first). If you do not deposit money into your account to cover the purchase plus the overdraft fee, when the transaction is processed and debited to your account, you will be charged a non sufficient fund fee (the charge in the second). They are two separate fees.
Some banks have an opt out feature so that if there are not enough funds in your account to cover the purchase the transaction will be rejected. Call your bank to find out if they have this available.