I do NOT like Compass Bank. They have inconsistent practices that are targeted towards college students (at least the branch in my town).
My story:
I set up a Compass Bank account in 2000'. Even though I only signed up for a checking account, they made me get a $500 credit line attached to the account and a credit card. I cancelled the credit card. However, that $500 credit line was useful (covered overdrafts) when I was low on money when my car had problems. So, after the credit line was exhausted, I got a $35 overdraft fee and my debit card was temporarily cancelled the same day. Good.. all fair so far.
Then, I paid that all off and a year later, I had to use the credit line again. This time, when I overdrafted, they did NOT cancel the debit card and I continued to use it for two more weeks (I recorded the amount deposited incorrectly.. my fault.. I know) while I accumulated 8 overdraft charges ($35 each) for a total of about $40 in overdrafts. Then, they charged me two $35 fees for having so many fees.. So.. $350 in fees. So, I went from oweing them $540 to $890.
I decided to go to the branch and see if we could negotiate. They would not negotiate. Then, two weeks after the charges, they cancelled my checking account and sent it directly to collections. Except, I had two separate collections companies going after me. And two months later, they reinstated my checking account. (Oh ya.. and the amount was like $1100 now.) They said it was because I had two separate accounts - a checking account AND a credit line. So, I would have to settle with both of them.
Well, after a few months of fighting the charges on the phone and with letters.. Oh ya.. every time I sent a letter, they refered me to a new person to talk to. The entire time, they told me I could not settle with Compass Bank by dealing with a single person - I had to handle both accounts separately.
Finally, after almost a year of getting annoyed by collections companies (calling me at 7am repeatedly), they offered to settle the ENTIRE Compass Bank debt for $300. They told me there'd be no other attempts at collections and it would be taken off my credit record. So, I made them fax the agreement to me that states I will pay Compass Bank in full settlement for $300. Then, I paid it.. Big mistake.
After I paid the 'settlement', a collections company started sending me bills for the 'unpaid' part of the $1100. And the battle continues.. Though, I think faxing them the agreement that says everything I owe Compass Bank is paid in full will shut them up. Hopefully..
Oh ya.. they really DESTROYED my credit. One of my credit cards chopped my limit by like 90%! I had fine credit before.. It's still not fixed completely.
So.. fvck Compass Bank. They're a rotten company. I use Bank of America now.. couldn't be happier.
EDIT: Oh ya.. despite saving my ATM receipts, when I would send them in by mail (what they require), they would lose them. It wasn't until the third time I sent in receipts for ATM fees where I brought in copies of them after they 'lost' it that they reimbursed me.