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.