BBVA Compass is on the Right Track with Overdraft Fees

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28 October 2009


  • I agree with David, why should a client have to pay $$38 for a $0.38 overdraft? If I would have known I that I would have to pay a 10,000% interest FOR A 5 DAY $0.38 LOAN.... The payment should have never went through in the first place if there were not enough funds.

  • Another important safety feature that would be valuable for consumers is to simply be able to specify that debit card transactions cannot overdrawn -- period. The bank knows if the funds are available. It should be the consumer's right to risk the theoretical "embarrassment" of having a transaction declined over the potential for overdraft fees.

  • BBVA talks alot, but this is what they really do. February 3:

    Received a call from Amanda in Client Services at BBVA Compass [205-297-3000]: I asked her why she was not responding to me via email, per my request, she informed me that she had never seen my emails referencing that and that she didn’t have email access. That all she had was my number. I asked her specifically if the call was being recorded because I have no intention of discussing this further. She said, “Yes.”

    I conveyed what is reflected in my emails: that my debits had been stacked out of order triggering the system to assess huge fees for overdrafts of pennies. She said this had always been their method. She also told me that they were NOT RESPONSIBLE FOR THE INFORMATION ON THE PHONE SYSTEM OR THE ONLINE SYSTEM; that customers could not use that as a reference point for the activity on their accounts. What should customers use to get that information? I told her that the “method” was dubious and that regulatory agencies and my Congressmen would be contacted.

    I also conveyed that the “Customer Service” rep had been beyond incompetent in misrepresenting herself as the "boss" and that it was not appreciated. She told me that they had always done business this way so I said that, in that case, Compass Bank had far better Customer Service than BBVA Compass.

    She refused to adjust my account so I told her that one the numbers settle out that I would be moving my account: that none of this was acceptable.

  • Opting out of overdraft protection doesn't do anything. At Compass bank, even though I have opted out of overdraft protection, they will still approve debit transactions which overdraw my account. They just don't charge service fees. Unfortunately, in a fraud case, which is what I'm dealing with now, Compass, freely approved more money than was in my account even though I opted out. I guess I just don't understand the point of it.