Complaint Review: BBVA Compass Bank - Internet Internet

But if I am going to put forth any effort to defend your report, which is being and may continue to be scrutinized and rebutted by some, I would need to know the facts.

Again I ask, how do you KNOW your deposit is hitting at the same time as the transaction is presented? Unless you are actually purchasing something at the bank itself..how do you know when the transaction is presented?

While I totally agree THE BANK..not the merchant..I repeat THE BANK may be holding back posting transactions, this would be evident on the banks statement. How can you document WHEN the transaction was presented..unless it is on the banks statement??..that is all I am asking.

I agree 100% that the banks uses tactics that make the register as useful as a door wedge, but we still need to keep one as a defense if it does not coincide with the banks statements.

As far as your remark regarding what good is the banks statements..apparently they are not much good really if trying to depend on it to avoid fees. However, it will show you if any unauthorized or unknown holds/charges/fraud etc has been placed on the account, otherwise I agree, the way the banks have been currently using the online statement, is no less then bait and switch, and entrapment..at the VERY least..it is all being investigated in current class action lawsuits.

If my deposit hits the bank the same time they present the transaction then my deposit covers the tranaction. I was not charged an NSF Fee until three days later. If can't go by the statement you receive or look at on line then what is the purpose of it. I also use my registery book. Thanks for your input.

..on the policies of the bank. Also, the NSF fee is not going to be the "new" overdraft fee, both types of fees currently exist and will always work the same way.

Banks charge an NSF fee if an ACH transaction does not clear, such as a check or autopay. Those always were, and always will be subject to a fee, there is no way around that other then to make sure when you write a check, or use autopay, that you have enough in the account to cover it.

An overdraft fee generally occurs when your debit card overdrafts the account, or when you continue to use the debit card after the account is depleted. AKA ,the "35 dollar cup of coffee".

What the law change is addressing primarily, is overdraft protection on the debit card. Many customers feel the card should be declined at a point of sale or ATM withdrawal rather then the transaction be approved, and cause a fee. There was a time when merchants did not take debit cards, so a customer would get cash from the ATM. AND, there was a time when the ATM would simply not dispense cash if it was not available..so not too long ago...this problem didn't happen.

Once the banks discovered this "gold mine" , they simply opted every checking account customer into standard OD protection on the debit card, or would not even allow customers the choice not to be enrolled in the service. Now while it is the customers responsibility to make sure they have enough in the account to spend, human error, unknown and unauthorized merchant charges and holds, and excessive check clearing times all gave the bank a way to collect fees even if a customer kept a register to the best of their ability. The banks realized many people who live paycheck to paycheck do not have a few extra hundred dollars to keep as a "safety cushion", so they continued to rake in the fees.

Add to this the practice of re-ordering transaction times and process highest to lowest, and then the banks discovered a way to subject transactions to fees that in reality had the funds available at the time, which is a swindle, no doubt.

I choose to use Chase bank because they have already changed some policies. They allow you to choose whether or not you want coverage on the debut card, AND they no longer re-sequence any transactions. Since I am opted out I do not have to worry about re-sequencing anyhow, since I can not overdraft from a simple mistake, or a merchant hold..but it is nice to look at my online statement, and nothing has been tampered with to confuse me..everything is there and it looks more like my register then a slot machine in constant flux.

As far as the problem you had bill d..I also found out the hard way you can't stop an autopay. I agree the bank should have shown some compassion as it was only 2 dollars and you were going through a tough time. But the banks don't have a heart..they are a "numbers" game now..not a "people" game or a part of the local community..times have changed and many say for the worse. Greed is how they profit now..not from a fair service paid for a fair service rendered. Ethics and morals are also a thing of the past. Regardless of any law changes if you can not cover an ACH transaction such as an autopay, you subject yourself to fees unless you have a legitimate dispute such as fraud, or merchant/bank error causing the NSF. I agree the banks suck, but if you look around you will find some have better policies then others that will suit you personally and can work in your best interests and give to a little defense other then keeping the account with enough funds, and not forgetting to write down the cheeseburger you had for lunch at MC D's.

Honestly, I don't expect the bank to keep track for me, but I figure even a back alley loan shark asks before they lend you money, and charges a better interest rate then the banks have been for small debit card overdrafts. It has been nothing less then a financial assault on the American people.

this nsf fee will be the new overdraft fee--except they will not be able to multiply it so much--as long as there are mother f**kers who just need that new 200ft yacht every year the poor who live check to check will continue getting robbed--the bank will still reorder transactions to now try to show nsf---about 6 months ago-maybe more--i was unempployed--i had no money coming in--i had an automatic charge coming in--i tried to stop the charge and they said they couldn't--the charge was for 12--i had 10 in my account---sure enough the charge comes in--the bank of course doesn't pay it--then the bank charged me 35 for nsf!!--i was 2 dollars short---in any case--my whole point to that is this:---how f**king hard would it have been to just not approve the charge???---how much does it truly cost the bank to not approve this charge???---how much does it cost the bank at all to process transactions(approved or not)???????--last i checked-bank employees work hourly and no matter what the bank pays them--if you ask me--it just means it is a waste of someones 5 seconds to push the button for an electronic transfer---the nsf will be the new overdraft

You state in the report and I quote..."I make a deposit

at the same time the items are presented and they charge me several NSF fees."

This is a problem as how can you know that items are presented at the same time you make a deposit?

You must make a deposit first before you can spend against it. I am not taking sides yet because I don't know the full details, and I do know the banks will manipulate and use tactics to increase fees and encourage overdrafting..but as stated by Edgeman, you can not rely on the bank statements, because it is rarely accurate and if you go by that, you are bound to get fees until you are homeless.

I recently opened an account with Chase and although they have their share of ethics issues, they have made some consumer friendly changes recently. One is, if you have overdraft coverage on the debit card and overspend, you have until the end of the business day to make a deposit and avoid a fee..you might be interested in something like that as it seems you are trying to "float" which these days will only make you sink. This policy can help but you still need to keep track of what you spend vs. what you have or you are allowing the bank to fleece you, and if you allow this to happen more then once, it is hard to place all the blame on the thief..I mean bank.

How does your check register compare with the account history reports? When you buy something, do you go by your check register or online/phone banking?