MyBankTracker rated BBVA Compass Bank based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.
I have been with BBVA for over 10 years, and happy for most of it. However, over the past few months, bbva adopted a new policy of "real time banking. " the way they operated for years, at the end of the day, applying deposits from the day first and then applying withdrawals. With the new real time banking, they process immediately when the charge happens to come in. In one day i was charged over $150 in overdraft fees, because there were a couple of credit card charge backs that happened in the morning. I didn't realize the charge backs were going to happen until about 10am that morning, so i immediately logged in, transferred money into the account.
Normally, this would have been fine, the money would have been in by the end of the day and no overdrawing. However, with real time banking by bbva, the bill payments happened to go out at 9am that morning, and the charge back happened to go out at about 9:30 that morning. My deposit happened at about 10am. But it was too late, and they proceeded to charge be a $38 late fee for each of these transactions.
This happens almost every month and is very frustrating. The only reason i am staying at bbva at the moment is because it is such a pain to move (i have merchant accounts, bill payments, etc. ) however, i am extremely unhappy. At some point i will snap and leave... It is just a hassle i wish i didn't have to deal with.
My credit card was hacked a month ago. I reported it immediately and sent in all forms they requested. No response. I have followed up with seven, yes seven, emails. Still no response. The charges still appear on my bill. They sent me a new card and stopped additional charges on the old one. But the charges remain on the new card. I have never witnessed such total incompetence. As soon as this matter gets settled, we are moving to another bank. This is not how to do business. Avoid these clowns like the plague. Is there a rating lower than one star?
I wish I had read reviews before I joined this bank. I have consistently had problems with this bank from the very first deposit. When I opened my account, I deposited two checks on the day I opened, in person. A week letter I received a letter in the mail stating that they have no record of one of the checks in their bank deposits so they recouped the money from the account. Even after the check writer provided documentation that the check had been cashed, they refused to rectify it on my account. They charge an exorbitant amount of fees, writing their policies and procedures to post debits before credits at midnight so that even though your account history shows an available balance of X amount of dollars, when the charges post they are able to charge overdraft fees.
Even after I had closed my account and requested the remaining small balance refunded to me, an autodraft charge hit my account and they reopened the account, rejected the charge and then charged me a 38.00 NSF fee to boot. For which I am now in collections for. Even after contacting the BBB they refuse to correct their fraudulent account practices. This is a truly disgusting bank. I recommend to all, Stay Away!