Overdraft fees snowball to more than $600Posted: Updated:
Amanda Fleming lives a busy life.
"I'm a stay at home mom, I have five girls," she said.
In fact just recently a new bundle of joy arrived, and with such a large family Amanda says she has to budget very carefully.
"Money gets tight," Amanda said, "but we are very careful with it. There's no frivolous spending."
Amanda says she is constantly checking her bank account with BBVA Compass, and she always knows exactly how much she can spend.
"I keep really good tabs on our money because that's how we live," she said. "We pretty much know down to the penny what we have at any given time."
Right before Amanda went into labor, however, she noticed two overdraft fees on her account even though she had recently put more money in.
"There were two overdraft fees of $38 each the day after I made the $100 deposit."
Amanda says those overdrafts snowballed out of control, claiming the overdraft fees were causing more overdraft fees to occur until it reached more than $600 in overdrafts. She discovered the bad news after delivering her daughter and coming back home a few days later.
"The first two $38 overdraft fees spiraled into a $636 overdraft debt. It was overdrafts over drafting overdrafts, over and over and over again."
Six hundred dollars in overdraft fees, and it just kept getting worse. Amanda received a collection notice saying she would be unable to write checks.
She tried calling BBVA Compass but says she could not get any clear answers.
"I've gotten 3 different responses for the bank as to why it overdrew, and I've gotten 3 of the same answers of how they can help me, which is 'you can pay us.'"
3 On Your Side contacted BBVA Compass, which says it is looking into the matter. In the meantime, she says the ordeal is stressing her out.
"None of their explanations are making sense and it is an unbelievable burden on us."
BBVA Compass looked into the matter for 3 On Your Side and decided to remove 29 out of 33 overdraft fees, for a total of $600.
Amanda is very happy to have that money back, and of course a big thank you to BBVA Compass for looking into the matter and getting a great resolution.
BBVA Compass released the following statement: At BBVA Compass, customer service and customer satisfaction are very important to us. We want our customers to know that we will listen to them and we try to build solutions for them. We understand with busy lifestyles that an oversight may occur. And when that does, BBVA Compass will work with you to resolve the situation.