Not too long ago I closed 5 accounts with Compass Bank and I'm on the verge of closing my last one before making the leap to a local Credit Union. I've had enough of Big Banks, their antics and quite frankly, their behavior.

This morning a representative from Compass called my office asking "if there was an agent who wouldn't mind running some comps on a specific property for an equity transaction." By the tone it sounded as if the guy was attempting to order a deep dish with a 2 liter of Pepsi. The difference is that pizza companies not only charge for their product, but for the "delivery of it." And even they get tipped.

Never mind that over the last year Compass started charging me $11.95 per account each month, or that they just charged me $12.00 for each INCOMING wire transfer when they didn't used to. Never mind that when I asked for a new debit card to replace my old one they said they could, FOR A FEE. I won't forget being charged (recently) $5.00 for an old bank statement! And should I be upset that when I make a deposit over $5,000.00 they sit on the money for SEVEN days before releasing it? I've deposited hundreds of thousands of dollars in my accounts..... NEVER had this problem before! And to hell with the memory of me being told that if I wanted to continue having copies of my canceled checks that I would have to "pay a fee." Compass bank also did away with all the incentives like the $25.00 credit each calender year your account was opened. And not too long ago I was told to "remove my hat" when I walked into one of their locations. (I know most employees by first name.)

I totally understand that companies not only need to survive, but that they need to turn a profit to exist. I get it. I understand it. I'm self-employed and in a lot of ways I too have to "turn a profit." But you'll never see or hear me asking my clients for freebies where they work after I slap them with additional fees or costs. I wouldn't ask my client to "hook me up" all the while sticking it further up their rear end. The bank called my office assuming "we'd do it with no problem." Well, I have a probem with it.

Screw you Compass Bank.

I'm taking my money and business to the Credit Union.

 

 

 

 

 

production award  RE/MAX HALL OF FAME, CLASS OF 2011

The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Greg Nino.  

 

 

 

 

 
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22 Comments on Compass Bank Calls My Office Asking For Free Comps........ AS IF.

20 Most Recent Comments Displayed Show All

NOV
01
2011
389,845 Points Outside Blog

Heh, that is even worse than the $25 for a one page report that BPO companies have started requesting. We are now getting $150-200 per BPO in our rural market. The $25 reports are almost exactly the same as a standard BPO, but they changed the name and I guess people fall for it.

$50-75 in the city (ie where comps are actually easy to find)

11:30am • #3
1,055,315 Points 287 Featured Posts Outside Blog Called Shot Master

Greg, A similar pet peeve with our credit union on holding money.  Made a closing check deposit and got the "7 days to clear".  WTH??? I write a check it gets pulled from my account within 24 hours, but if I put money IN, I've got to wait a week?

11:32am • #4
535,983 Points 71 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

But some agent will gladly provide the comps for free, in the hopes of getting all their foreclosure business "one day".

11:37am • #5
122,747 Points 2 Featured Posts Called Shot Master

I just LOVE your attitude adjustment Greg!!!

 

"Shove it where the sun don't shine!" LOL!

12:01pm • #7
587,628 Points 106 Featured Posts Outside Blog Called Shot Master

Good for you! The banks have gotten far out of hand - ever since they got free taxpayer money to play with.

Your bank reminds me of an appraiser who used to call asking for comps. I always cooperated until one day I called HIM with a question about an adjustment for a BPO. He told me his answer would be "Worth what I paid for it." After that, he got no more information from me.

12:23pm • #8
413,712 Points 88 Featured Posts Localism Sponsor Outside Blog Called Shot Master

My local bank was bought by National City which was bought by PNC. Been with them 18 years but PNC could care less. They started to hold checks over $5,000 for 10 days, despite the fact that business checks clear overnight at the Federal Reserve. Last year I opened an account at my brokerage's bank, US Bank, and they just instituted a bunch of new fees. I'm going to look into credit unions now.

 

 

1:29pm • #9
905,602 Points 93 Featured Posts Attended Rain Camp Called Shot Master

I just closed my account with a bank here because after doing business with them for nearly a decade, after having a credit card with them, and after even having my mortgage with them, they decided to charge me $20.00 a month to have the luxury of having a checking account with them too.

2:28pm • #11
620,671 Points 97 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I have been with credit unions for years...can't see any reason to change.  Good for you Greg!

4:06pm • #12
493,908 Points 75 Featured Posts Outside Blog Called Shot Master

Nino - Don't blame ya.  I've become a huge fan of Credit Unions and not so much of big banks.  I wish more of us would take that leap to send the message (hurting the profits of a company tends to be the only real way to open their eyes).

And as far your somewhat new profile pic, I will leave my comment on it to another day;)

4:59pm • #13
982,677 Points 114 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Another great example of having their head's right up their naglas/culo. ;-)

5:19pm • #14
468,135 Points 8 Featured Posts Outside Blog Called Shot Master

The only reason Banks want to hold a deposit for seven or more days is because they will be able to get interest on that deposited check. They got the money the very next day if not the same day.

I am with a credit union and just had to start paying the $5 debit card fee imposed to our bank by the bigger banks. It is just another scheme to get your wallet out of your back pocket. Each year banks need to make more than the profit they made the year before so they have to come up with a lot of "CHAZAM!"  to get there.

They need a spanking that is for sure!

5:21pm • #15
505,542 Points 26 Featured Posts Outside Blog Called Shot Master

I've been yelling from the hilltops for people to jump to the credit union for years! Funny, this blog makes mine about the $1 extra charge at Little Caesars seem small.

5:50pm • #16
104,615 Points 1 Featured Post Outside Blog Attended Rain Camp

Saying Compass bank stinks is an understatement.  They are scared of their own shadow and will say anything to get a loan application from you (Ohh sounds like a lot of Loan officers I know).  Then then they want you to open an account so they can get you approved.  Oh gosh... I can Rant on and on but you get the idea.  The response of stick a sock in it is more than they deserve.

9:48pm • #17
179,441 Points 14 Featured Posts Called Shot Master

Great job Nino by posting with their name in it. Even BofA is backing down from their proposed $5:00 fee for having a debit card.

Then they ask for a freebie???????

Kick em in the sack my friend and keep your hat on.

10:16pm • #18
NOV
02
2011
586,444 Points 4 Featured Posts Outside Blog Called Shot Master

Big banks suck.  I once had a Compass account becuse they had an office next to the office I was working out of.  Some marketing guy tells us to open a free account which many of us did.  Next thing I know they changed their policy and started charging us a monthly fee.  The final straw was when they refused to let me walk thru the drive thru, telling me it was too dangerous.

1:40pm • #19
198,272 Points 1 Featured Post Attended Rain Camp

Bravo!  Architectural Digest tacked on $4 to a subscription fee.   Is it the money?   Nope, it's the principle....

2:16pm • #20
Outside Blog

Wait until Nov. 5th to close down the last account - it is Move Your Money Day. There needs to be a big impact.

3:19pm • #21
NOV
03
2011
201,976 Points 2 Featured Posts Called Shot Master

I have had accounts with both banks and credit unions and credit unions have imposed holds on deposited funds and been less efficient about online banking bil payment.  I may start keeping mine in a sock under the mattress.

1:23pm • #22

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Greg Nino Houston Texas

Houston, TX

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RE/MAX West Houston Professionals

Address: 7825 Hwy 6 N Ste 112, Houston, TX, 77095

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