BBB has determined that BBVA Compass meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses pay a fee for accreditation review/monitoring and for support of BBB services to the public.
BBB accreditation does not mean that the business' products or services have been evaluated or endorsed by BBB, or that BBB has made a determination as to the business' product quality or competency in performing services.
Complaint i was charged fees on two transactions that i had a positive balance when they were posted to my account and my transactions were manipulated ******************************************
Desired Settlement i want these fees refunded back to my account
Business Response We are in receipt of Ms. ********** BBB complaint regarding transaction processing on her account. Our records indicate that Ms. ********** spoke with several representatives regarding this matter, the most recent being a Client Care Solutions Analyst, who the client spoke with on March 18, 2015: the same day of her BBB complaint. These representatives explained that no bank error took place in the processing of her transactions. As with all clients, transactions are processed in order they are received. Further review indicates that Ms. ********** placed a dispute for two transactions that caused two insufficient funds (NSF) fees on her account. Those transactions and the two NSF fees that were caused by the transactions have been credited back to her account as of March 19, 2015. All NSF fees charged to Ms. ********** in March 2015 have either been refunded as a courtesy or due to her dispute. On behalf of BBVA Compass, we sincerely apologize for any inconvenience the client encountered while attempting to resolve this matter and we thank her for her business.
Consumer Response (The consumer indicated he/she ACCEPTED the response from the business.)
Complaint This bank has an erratic way of posting transactions and manuplates the system so the customer can be charged for over draft fees There has been several occasions where a pending charge has caused the account to go negative and they immediately charge an overdraft, even if funds are put in the account within minutes of the negative activity. They are just very fee hungry and I have never had a bank do this before. They have charged me over $900 last year in over draft fees which is just out of control. I am preparing a lawsuit because there is no way this is legal.
Desired Settlement Refunds need to be made on my overdraft fees
Business Response We are in receipt of Mr. *******'s BBB complaint regarding the processing of transactions on his account. We would like to take this opportunity to sincerely apologize for any difficulties Mr. ******* has experienced while reconciling his account. Our records indicate that Mr. ******* has elected to "opt in" to overdraft coverage with his debit card. This means that if Mr. ******* does not have sufficient funds in his account at the time that he authorizes a transaction, he agrees that he would like BBVA Compass to approve and pay the transaction, if possible. By choosing this option, Mr. ******* also agrees to pay back the overdrawn balance as well as the fees associated with overdrafting an account. Further review into the transactions on Mr. *******'s account indicates that he is often spending in excess of the available funds in the account at the time, and attempting to make a deposit on a later day, after authorizing the debit transactions, to try to cover the overdraft. We advise against this practice since transactions are processed in order that they are received. To better illustrate this, we have asked the BBB to send Mr. ******* an example taken from Mr. *******'s account. As you can see in the available balance column of the example, the total items authorized for payment exceeds the available funds in the account before the weekend ended on 2/1/2015. Therefore on Monday, 2/2/2015, when all the transactions started posting to the account, there were not sufficient funds to cover all the outstanding transactions and two NSF fees were charged the following business day. The deposits did not come to the account until the third: the day after the transactions which overdrew the account. After carefully reviewing Mr. *******'s account, we found no evidence of bank error in the processing of Mr. *******'s transactions; therefore, no additional NSF refunds will be refunded to this account. We would like to point out that BBVA Compass offers products, many of them free of charge, to help avoid NSF. These products include: Overdraft Sweep - automatically transfers funds from a qualifying account to help cover overdrafts (subject to transfer fees) Overdraft Protection - a line of credit available to help pay overdrafts and avoid NSF fees (subject to credit approval) Online Banking - 24 hour access to your account as well as text and e-mail balance notifications Mobile Banking - offering access to your account information from your smart phone with text notification
To find out more about these additional services, please visit your local banking center or our website at www.bbvacompass.com. As always, BBVA Compass recommends using these tools in conjunction with your own personal register.
On behalf f BBVA Compass, we hope this information helps to provide a better understanding to the transaction processing on Mr. *******'s account and we hope he will take advantage of the many services and products available to help him manage his account.
Complaint Unauthorized charges billed. Delay in correcting billing errors and reporting to credit agencies. Harassment and time-wasting tactics. Hi, I have an auto loan with compass bank. They ostensibly did not receive my insurance information and they unilaterally went ahead and added > $200 to my loan payment to "buy insurance". I had auto insurance all this while. When i called them to provide this information, I was made to call three different numbers over 3 days because of some office or the other closed on some day. Further more, I had to call my insurance company and request them to send the information instead of compass bank being able to speak directly to them.
More serious is their approach to billing. I have my account setup on autopay and it failed when they raised my payment. Because of this, the loan payment went overdue without my knowledge. When it came to my attention, I called to fix this issue and was made to run around like i described before. I thought I had taken care of it, and I even paid the extra amount they were asking me to pay.
Now it comes to my attention that they have reported it to the credit agencies as a delinquent payment, despite me having gone through the pains of explaining their own error to them. Not only is this a case of billing, they have caused me significant mental stress as well as wasted my time.
Desired Settlement I am seeking for them to compensate me for the harassment and stress, and for wasting my time. I estimate this to be $1000 or more. They also need to refund the additional loan payment they have demanded for adding insurance to my account. thanks
Business Response We are in receipt of Mr. ********'s BBB complaint regarding the lender placed insurance that was applied to his auto loan. We would like to first take this opportunity to apologize for any inconvenience the customer has experienced while working to resolve this matter. As agreed to in the terms of his auto loan, the client agreed to have physical damage insurance covering loss or damage to the vehicle for the term of the loan contract. If the client fails to provide proof of the insurance, we reserve the right to buy physical damage insurance. The client agreed to pay the premium for the insurance and the finance charge, at the contracted rate. If we purchase such insurance, we will mail notice to the client's last known address. Our records indicate that we did not have updated coverage information for Mr. ********'s automobile; therefore, we sent the client a notice on September 22, 2014 informing him of this lapse in coverage and stating that if we did not receive proof of insurance showing BBVA Compass ** a lien holder and an effective date of 8/16/2014 or before, we would purchase coverage and charge the cost, as stated in the terms, to the customer. Further review shows that we received at least three verifications of coverage from Mr. ********'s auto insurance company on 2/4/2015. Using these as proof, we cancelled the lender placed insurance policy, credited the entire premium amount back to Mr. ********'s loan balance, and sent the client a notice informing him about the cancellation and refund on 2/4/2015. However, Mr. ********'s insurance company failed to list BBVA Compass ** the lienholder on either of the first two verifications of coverage. The third verification of coverage listed BBVA Compass as lienholder, but stated that Mr. ******** was only covered from 2/26/2015 through 2/26/2015, meaning that he is only covered for one day and did not confirm that he was covered from 8/16/2015 to present. Another notice was sent 2/11/2015 by BBVA Compass letting the client know that the verifications provided by his insurance company were still incorrect or incomplete. As of today, 2/19/2015, we still have not received an insurance verification showing coverage from August 16, 2014 through the present AND listing BBVA Compass as lienholder on the same form. After careful review of this information, it was determined that the responsibility of confirming correct and accurate information about his insurance coverage is the responsibility of the borrow, Mr. ********, as stated in the terms of the loan. BBVA Compass is not at fault for the issues caused by the lack of complete and accurate information from Mr. ********'s insurance provider. Furthermore, BBVA Compass has consistently provided communication about the insurance matter in the form of notices by mail to the address listed on file for the client, which matches the address on this complaint. Therefore, no bank error was found and we cannot financially compensate the client as he has requested. However we have requested that one 30+ day late record is removed from Mr. ********'s credit report, as a courtesy for the difficulties he has experienced. We strongly recommend that the client contact his insurance company to have them send another coverage verification that shows both coverage from 8/16/2014 to the present or beyond and showing BBVA Compass as the lienholder. If we do not receive this information, we may be forced to again purchase our own coverage for the vehicle. Once this proof of insurance matter has been resolved, Mr. ******** can reinstate his automatic payments by contacting our Loan Customer Service department at X-XXX-XXX-XXXX. On behalf of BBVA Compass, we again sincerely apologize for the difficulties Mr. ******** has experienced and hope this information helps to resolve this matter.
Consumer Response (The consumer indicated he/she DID NOT accept the response from the business.) They need to remove the late record from my wife's account as well Since she is listed as the co holder for the loan.
As for the proclamations about doing their part, I can say the same. I have provided proof of insurance when I purchased the vehicle, when I purchased the insurance and repeatedly trying to deal with this situation. If bbva still doesn't have it to their satisfaction, there must be something not right with their approach.further, sincerity isn't part of their business or even apologies. I'm certainly unhappy with bringing my business to them and will never consider them again.
Final Consumer Response (The consumer indicated he/she ACCEPTED the response from the business.)
Final Business Response We have addresses Mr. ********'s concerns to the best of our ability, explained that the error with insurance info lies with his insurance company not producing a complete confirmation letter, and confirmed that a late history mark has been removed from his credit report, as a courtesy. A letter confirming this credit file change was sent to Mr. ******** and his wife confirming this was taken care of for both clients. With this information in mind, we ask that the BBB please close this case. Thank you, BBVA Compass ******** ******
Complaint Failure to provide title to car after loan has been paid off for three months. After calling around a dozen times, I've been transferred to as many people, promised by as many people, and still have no title in my hand for the car I paid off in November. I was not notified that November was my final payment until I called after having made a regular payment in December. I was then told that the title and refund for my overpayment would be issued immediately. Again, three months and several phone calls and promises later, I have no title and now no one will even return my phone calls.
Desired Settlement I want my title and refund.
Business Response We are in receipt of Ms. *****'s BBB complaint about her service experience related to her loan at BBVA Compass. We would like to take this opportunity to sincerely apologize for any inconvenience she has encountered. While we would like to review Ms. *****'s specific issue, we were unable to locate the customer with the information provided in her complaint. We request that Ms. ***** respond with the account number for the loan or with any different information we might have on file for her (different address, phone number, first name, last name, or signer). Once we have the necessary information, we will be happy to review Ms. *****'s account. On behalf of BBVA Compass, we again sincerely apologize for any inconvenience and we thank Ms. ***** for her cooperation in helping to resolve this issue.
Consumer Response (The consumer indicated he/she ACCEPTED the response from the business.) Account #XXXXXXXXXXXXXXX
Complaint The online bill pay system would not allow me to make a auto payment on the date the bank said I could. When I called about it, I was told that ***** **** **** was no longer accepting electronic payment. I reminded them that paper checks could also be sent. Then I was told that I could not make a payment of $3,000.00. I called ***** **** **** & none of this information was true. They still take electronic & paper checks through BBVA Compass Bank. Went to the actual bank on 1/9/2105 & spoke to ***** ****** a service rep, & *** ********** branch manager. They assured me this would be taken care of. Ms. ********* called later on 1/9/2015 & stated that the IT department was having problems with online bill pay system. If they did not call me that day I was to contact her. They did not call, I emailed *** as instructed & have never heard back from anyone. I called *** again on 1/16/15 stating my displeasure. Still haven't heard back. My auto payment was finally made 1 day late. Don't know yet if I will be charged a late charge. Product_Or_Service: online banking bill pay service
Desired Settlement I would like a call back with explanations why all this happened and what they are going to do about it. I would like for the IT department to stop making lame excuses, that turn out to be outright lies, about why I cannot pay a bill.
Business Response We are in receipt of Ms. ****'s BBB complaint regarding her experience with Online Banking Bill Pay. Ms. ****'s complaint indicates that we did not take ownership to address her concerns in a timely and appropriate manner. We would like to take this opportunity to sincerely apologize for any inconvenience Ms. **** experienced related to this matter. Rest assured that this issue was immediately addressed with our Online Banking management team. Our records indicate that Ms. **** was attempting to make an Online Bill payment that we were unable to process in the time frame she requested and this is why the payment system would not allow her to schedule the payment as she originally requested. This bill payment could have been and was scheduled for a later date; however, it is our understanding that this later payment did not arrive in time to satisfy her payment before the due date. To avoid this type of issue the future, we request that Ms. **** set up these types of payments earlier, so that we will have enough time to complete her payment request before her due date has passed. On behalf of BBVA Compass, we again sincerely apologize for Ms. ****'s inconvenience and we hope this information provides a better understanding of why we were not able to complete her Bill Payment in the time she desired. As requested, a Client Care Solutions representative will contact Ms. ***** at the number provided on the BBB complaint, no later than the end of the business day, 1/30/2015.
Complaint BBVA Compass Bank has failed to honor the contract between myself and them by trying to make me pay 74 installment payments instead of the contract 72 In 2008 I applied for financing for an automobile loan through the dealership where I was purchasing the vehicle. The loan (acct#XXXXXXXXXXXXX) was approved and a contract signed with a duration of 72 months @ $325.14 with the first payment beginning 10-6-2008. In August 2009 I had financial difficulties due to changes in wages at my place of employment so I called my finance company and spoke with a representative by the name of Ayriam to inquire if I could put a couple of payments back to the end of the loan in order to establish some financial relief. Everything was handled by telephone and Ayriam advised me it would take anywhere from 1 to 3 weeks for approval and I would receive a letter in the mail. I received a letter dated 8-6-2009 from BBVA Compass Bank, my financier, with a reference line stating "EXTENSION Approval Notice" in which the letter stated I had been approved for a deferment or extension to my installment loan and that the next payment due was 10-6-2009. In the coming years I continued to struggle but still made the loan payments and not be late. In June 2011, I again needed to contact BBVA Compass Bank for an extension due to the loss of my employment. As before but with a different female, everything was handled by phone. I never received an extension approval letter but I had already been told it was approved so I didn't pay the loan installment for two months and resumed the payments in August 2011. In August 2014, without my contract close at hand, I had to contact BBVA Compass Bank to inquire why I still had a balance when my loan should be paid off. I was reminded by a representative that I hadn't started making my loan installments until October 2008 and that I had only made 69 installment payments. She said January 2015 would be my last installment payment due to the fact I had put payments back and needed to make more payments to fulfill the 72 installment payment agreement per the contract. In January 2015 I was being sent letters from BBVA Compass Bank stating I owed $1037.06 and they wanted payment. I contacted a representative and after talking to rude employees was advised that when I had put back the first two installments that they were considered a balloon payment and that the balloon payment was still due. I relentlessly implored to the manager to please explain to me how I had fulfilled my 72 installment payment contract but still owed more. All of the BBVA Compass Bank representatives I talked to could only say there was nothing they could do about my balance and that it was a balloon payment and I had to pay it. They even got irritated that I was continually begging for explanation. I was told I would be sent my payment history and could review it and call them back. I asked if she would also send the letter that was supposedly sent to me notifying me that the first two payments I had put to the back of the loan were to be paid as a balloon payment. Yesterday, 2-3-2015, I received the payment history which entailed information only for the last two years and the balloon payment letter I did not get.
Desired Settlement For my loan to be acknowledged as paid in full and the title of the vehicle sent to me. Also, if there has been any negative credit reporting since 12-2014 on this account I want that taken off my credit report.
Business Response We are in receipt of Ms. ****'s BBB complaint regarding the final payoff of her loan at BBVA Compass. Ms. ****'s complaint indicates that we have not taken ownership to address her concerns in a timely and appropriate manner. We sincerely apologize for this poor service experience. BBVA Compass is committed to improving the overall customer service experience: establishing a bank wide initiative focusing on quality and "Passion *** Customer" programs. We are listening and Ms. ****'s feedback will be used to help reach this goal.
As mentioned in her complaint, Ms. **** deferred payments twice over the life of this loan for two month increments. During this time, a payment was not required to keep the loan in good standing; however, interest continued to accrue through the two month deferment period. Since outstanding interest must first be satisfied when a payment is received, the first payment made, after the deferment period is over, was applied to pay off the outstanding interest that had accrued. To better illustrate this, we have sent a copy of the balance spreadsheet showing the actual balances and how payments were applied throughout the life of the loan. As you can see, the October 2009 payment was entirely used to pay the outstanding interest due after the first deferral. Similarly, the majority of the August 2011 payment after the second deferral was also applied to interest. This put Ms. **** behind in the principle payment and this is why she still has an outstanding balance after making 72 payments. As for any negative credit reporting, we can confirm that as of today, 2/11/2015, there was no late credit reporting on this loan from December 2014 or later. On behalf of BBVA Compass, we hope this information helps to resolve this matter for Ms. **** and we thank her for her business.
Consumer Response (The consumer indicated he/she DID NOT accept the response from the business.) BBVA Compass has breached The Motor Vehicle Retail Installment Sales Contract between me and them and completely ignored the provisions of the contract making the rules up as they went along. What do you mean, "interest continued to accrue through the two month deferment period"? This contract was not an accrual interest type contract. The price of the vehicle, the interest, and all other calculations were already pre-determined, even on the months of the payments put to the back of the loan. There was no variable interest rate that changed month to month. The contract set my payment amounts and duration and I have fulfilled my obligation. There was nothing noted in the contract that extended the life of the loan. You cannot take a contract and manually create a spreadsheet to manipulate the numbers in your favor. If you do you should at least make sure the numbers match what has already been sent to the customer. I was verbally told via telephone from BBVA Compass representatives the outstanding amount on my loan was a due balloon payment. Now BBVA Compass wants to jump ship and change it to "principle that got behind" because when I made a payment after the deferral period it was posted to interest of 415.76, which by the way, was the highest interest BBVA entered on the whole spreadsheet and was more than a car payment. Make up your mind!
I analyzed and attempted to re-create the uploaded spreadsheet submitted by BBVA Compass in hopes to better fathom what they were doing to my account, but with posted interest entries that had no comments noting reasons for those entries, what should have been a simple 10% yearly interest was manipulated and the very closest I could come in the re-creation was to calculate the interest on a daily basis. The Motor Vehicle Retail Installment Sales Contract I signed showed the interest rate as a YEARLY rate not a daily rate. BBVA Compass has taken something simple and complicated it with mistakes and wants me to pay for it.
I have totaled the relevant columns of their uploaded BBVA Compass spreadsheet entries for review to substantiate my claims and they are as follows: Column Label-Transaction Amount= Total 23425.05, Column Label- Interest Due= Total 7404.51, Column Label- Interest due not paid= Total 188.00, Column Label- Amount Applied to Interest= Total 6892.07, Column Label- Applied to Principal (sp)= Total 16764.87.
The BBVA Compass spreadsheet acknowledges I have paid them a total of $23425.05 in monthly payments (see Column Label-Transaction Amount= Total 23425.05), which is $14.97 more than what the contract states that "I will have paid after I have made all payments as scheduled". According to the BBVA Compass spreadsheet the amount due in interest is $7592.51 (see Column Label- Interest Due= Total 7404.51 & Column Label- Interest due not paid= Total 188.00). Additionally, the spreadsheet shows I have paid $6892.07 in interest (see Column Label- Amount Applied to Interest= Total 6892.07). The Motor Vehicle Retail Installment Sales Contract I signed on 8/22/2008 further shows "the dollar amount the credit will cost you" finance charge a.k.a. interest of $5932.16. By calculations of their BBVA Compass spreadsheet data, I have overpaid $959.92 in interest that should have been applied to the principle (see Column Label- Applied to Principal (sp) = Total 16764.87), which in effect would have resulted in an overpayment of principle of $246.86.
Clearly, conversations via telephone with BBVA Compass representatives and their verbal statements explaining the balance on the loan, coupled with the electronic spreadsheet BBVA Compass has produced, show BBVA Compass has made an error in accounting of my loan and used poor judgment in not admitting to error and trying to cover it up. Any resolution other than the account being posted with a zero balance and a clear title to the vehicle sent to me, is nothing more than plain thievery.
Complaint Total loss payoff has taken 2 months and still not resolved. They will not help resolve this at all. I was involved in an accident on November 1st and my car was total loss. I contacted the lender BBVA compass concerning my loan and to give them the information. My insurance company began contacting them on November 7th to get a payoff amount. They did not respond to my insurance company until the 24th of November to get a total payoff. My insurance company as well as my self was calling them everyday up until then. My insurance company sent them the check for the automobile minus depreciation. They did not cash the check until 12/24. I repeatedly spoke to the customer care and the loans department practically everyday because they kept saying that I was past due on my loan. They still have not sent me the paperwork that I need to finalize the payoff from my gap insurance and it is January 15th 2015, I have spent hours on the phone with this company. Gina ******* in total loss does not return calls, they will not allow you to talk to a supervisor at all. Each department does not help customers out.. They lie and berate you. The collection department is the worst I have ever experienced, I have told them repeatedly of the situation and they keep calling and sending me collection notices. This automobile loan would have been paid off weeks ago if they would just do there job. They keep telling me a supervisor will call back I have not received one outbound call from them. I have called this company over 100 times since November 2nd and have gotten no were. I am at my wits end on how to get this resolved. I have contacted legal counsel on this situation, I am only trying to pay them there loan amount and I can not get any were. My vehicle was a 2013 Chrysler 300 loan number ************** ***** and ***** *******. I hope I can get some sort of help with this situation and be done with this company forever.
Desired Settlement I would like an apology and I want to make sure that my credit does not have a single adverse mark showing late payments on my credit report. If there is I will seek court damages in this matter. I would also like for this to be complete. I need my information so I can complete this loan payoff for the final payment for the gap insurance. I was never late on one single payment for the duration of the loan or have never been late ever on my credit history.
Business Response We are in receipt of Mr. *******'s BBB complaint regarding his total loss. Mr. *******'s complaint indicates that we did not take ownership to respond to his calls in a timely manner and we sincerely apologize for any inconvenience. Please rest assured that Mr. *******'s complaint has been addressed by our Total Loss management team. Our records indicate that on December 24, 2014 a copy of the loan payment history and a copy of his primary insurance check was mailed to the client. This document was sent to Mr. ******* so that he could provide it to his GAP insurance company. While we make every effort to help our clients with what information we can provide, it is necessary for the client to follow up with their insurance and warranty companies regarding any payment that remains outstanding from those entities. BBVA Compass ** not responsible for contacting these companies on behalf of the client and further review indicates that we are still waiting for a refund from the warranty, life insurance, and GAP insurance companies. At this time, there is still a balance due on this account, and per the terms and agreement for this loan, the client is responsible for continuing to make payments as agreed until such time that the loan is paid off and closed. Therefore, no changes can be made to the payment history of this loan, nor the credit reporting, since no payment has been received since October 2014. On behalf of BBVA Compass, we again sincerely apologize for any inconvenience and we hope this information helps provide a better understanding regarding the reason this loan is still open with a balance due.
Consumer Response (The consumer indicated he/she DID NOT accept the response from the business.) This information is totally inaccurate. It was not mailed to me on Dec 24th there was only a phone call were I spoke to Gina ******* and she informed that she had to find the check because she did not have a copy yet. i have the postmarked envelope of when your company actually mailed these documents. You should recheck your facts because everything that you said in your response is false and a blatant lie. There would absolutely have not been a late payment if Your company would have responded to my insurance company in a timely manner. I called your company over 100 times since November 5th. This response is absolutely unacceptable and will force me to take further action. Furthermore you have cashed the warranty check. I have a copy of the cashed check from **** Luke. I had to get it from them to send to the GAP insurance company because your company continues to claim they did not get it. **** Luke banks with your company. Your bank is not going to bully me and I am not going to accept negative remarks on my credit. I had never missed a payment ever and for your company to treat me this way is totally inappropriate when I am the one who was injured in an automobile accident. Why did it take your company 24 days to respond to my insurance company for a total payoff amount . Why did it take your company another 27 days to cash my insurance company's check. The fact that you say that I received the documents I requested on the 24th is completely not true and when this goes to litigation I will request for every call that I made to your company made available to me. Not once did I ask your company to reach out to anyone on my behalf ,your company flat out did not do the job and treated me in a manner that is surprising, I can not believe that you would treat a customer in this fashion and this will not end with your response. Your attitude towards a once loyal customer is shocking and this will not end here. I would never have had a late payment on my credit report of not for your company never responding to the dozens and dozens of calls. Can you explain this to me. Why when a customer calls your company they do not allow you to speak to a supervisor. In closing I am not going to be pushed around and bullied by a big bank when I have done nothing wrong and I am not going to allow this company to put negative remarks on my credit due to the ineptness of your total loss and customer service department. I suggest you take the time to look into this matter instead of sending me generic responses and I guarantee that you will find that this is your companies mistake.
Final Business Response Good morning, We believe we have addressed this matter to the best of our ability. We have provided an apology for the delay in our response to Mr. *******'s initial attempts to contact the Total Loss department, we have confirmed the issue has been addressed with management, we have provided Mr. ******* with the information that we have on record, and we have reminded Mr. ******* that regardless of the amount of time it takes his insurance or GAP companies to send us the check, he is responsible for making the payments on this loan as agreed until such time that the loan is paid off, per his contract. We request that this case be closed.
Thank you, BBVA Compass Nicholas ****** Written Correspondence Analyst Client Care Solutions
Complaint Bank sent CDs to Comptroller's Unclaimed Property Department without notifing me when I visited bank to get reports of how CDs were doing. BBVA Compass Bank sent my CDs to the Comptroller's Office Unclaimed Property Division without notifying me. I had to pay a fine of $285.42 to get the funds back. BBVA Compass claims that they sent me a letter notifying me that the funds were going to be sent to the state. I never received the letter and was very surprised to discover that my money was no longer with BBVA compass. I visited the bank two times a year to get a statement showing how my CDs were doing. In fact, the bank sent a letter to me during the summer of 2013 to come in to discuss investing the CDs into a different type of financial investment. I came in and talked to one of the investment representatives. I told him that I was going to leave the money in the current CDs. I also got a printout on the status of the CDs from him. I received a letter earlier in 2013 stating that one of my CDs was going to automatically renew. I came in and talked to a representative during this time also. I have visited with Compass Bank two times in 2013. No one bothered to tell me that my CDs were getting ready to be sent to the Unclaimed Division. It is not fair for me to have to pay a $285 fine for Compass's mistake. My CD investment was done to make money instead of losing money. The Comptroller's office said that they can allow the bank to request the CD money back. A fine would not be charged for this, but Compass bank refused to do this for a customer that has invested CDs for 8 years. I also called the Executive office of Compass Bank and they refused to do anything about it. I trust that Compass Bank will reimburse me for this mistake.
Desired Settlement I am seeking a refund of $285.42. This is the fine that I had to pay the Comptroller's Office to get my CD money back.
Business Response We are in receipt of Mr. *****'s BBB complaint regarding his escheat CD accounts. We would first like to sincerely apologize for any inconvenience the customer experienced related to this issue. While we understand that Mr. ****** visited one of or banking centers and was provided a print out of the balances of these CD's, no maintenance or change in status for these accounts was made at that time. Therefore, there was no record of acknowledgement, and in accordance with Texas state law, the balances of these CD accounts was turned over to the state. Additionally, the branch staff had no knowledge that the escheat process had begun for these accounts. Financial institutions in Texas are required send one due diligence letter per account; however, our records indicate that we sent six letters: two for each CD account. Three letters were sent on April 26, 2013 and three more were sent as a final notice in June 5, 2013. We have asked the BBB to share copies of these letters with Mr. ***** since we are unable to attach them through the website. These letters were mailed to the address listed on file at the time, which is the same address that was listed on this BBB complaint. Careful consideration has been taken and it was determined that no bank error contributed to the escheatment of Mr. *****'s CD accounts; therefore, we cannot reimburse Mr. ****** for any fees, as he has requested. On behalf of BBVA Compass, we again sincerely apologize for any inconvenience and hope this information provides a better understanding of this matter.
Consumer Response (The consumer indicated he/she DID NOT accept the response from the business.) I never received the letters that Compass bank is claiming were sent. The 2nd set of letters list an apartment number. This is incorrect I do not live in an appartment. I only received letters stating that my CDs will be automatically renewed at the current interest rate. As stated, I visited the local bank multiple times during the year that these CDs were escheated. I met with there financial advisor and tellers. The bank needs a system that alarms their employees that an investment is getting ready to be sent to the state. The financial advisor should have given that information to me when I met with them concerning these CDs. It does not make sense that only the bank in Alabama knows that my funds will be given to the state and my only chance of finding out is from a letter from Alabama. The local bank that I deal with did not have any idea. I am still requesting a refund and did not receive any notification. I deserve to receive my hard earned money back.
Final Business Response We believe we have made a good faith effort to address Mr. *****'s concerns and have addressed them appropriately.
Final Consumer Response (The consumer indicated he/she DID NOT accept the response from the business.) BBVA has not made an effort to address my concerns. They have many flaws in their system and are not willing to correct their mistake with a customer.
Complaint Opened a secured credit account with BBVA Compass and the card was canceled. The bank refuses to refund the balance of my deposit. I opened a secured credit account with BBVA Compass bank. I deposited $500.00 into an account to receive my card. My card was then canceled by the bank. The bak refuses to refund me the balance of the secured deposit. I opened the account with $500.00 and spent approximately $157.00. Therefore my refund should be approximately $343.00. The bank keeps giving me the run around about my refund. I went into a local branch and spoke to the manager and was unable to get assistance. I have made four calls to the headquarters today to get assistance. The telephone representatives refuse to let me speak to a manger in regards to the issue. The bank closed my account that had a positive balance and is demanding that I pay them the $157 that I spent in order to get my refund of my deposit. The account was secured and entirely composed of my money. The bank is stating that I cannot access my own money until February.
Desired Settlement I would like the balance of my credit account credited into my saving account.
Business Response Please be aware that this message is intended to serve as information only and is not intended as an attempt to collect on a debt. We are in receipt of Mr. ****'s BBB complaint regarding his secured credit card. We would like to take this opportunity to sincerely apologize for any inconvenience he may have experienced while attempting to resolve this matter. Our records indicate that Mr. **** has a secured credit card. The collateral for this card is a separate savings account where the balance is held and made unavailable during the life of the card. Under the terms and conditions of the secured credit card, signed by Mr. ****, the funds for this secured savings account cannot be released until after such time that the credit card is paid off and closed. On behalf of BBVA Compass, we again sincerely apologize for any inconvenience and we request that Mr. **** contact us at 800-***-****.
Consumer Response (The consumer indicated he/she DID NOT accept the response from the business.) I do not owe money to pay off on the debt. The debt is secured by my account deposit. I deposited $500 and spend $157 on the account. This is a matter of mathematics. 500-157=343. Therefore $343 is due to me. It is my own money that I secured as the deposit. The bank is saying that I need to pay $157 to make the 500 whole again before it is returned us illogical, irrelevant, and arbitrary. Please return my remaining balance to my account. If it's not returned this is the equivalent of theft and or extortion to force me to pay ransom for my own money. It's not asking for a miracle. It is my money in an account that has been frozen and I would like it transferred back into my account within the same bank so I can access my own money. Close the account and refund the difference.
Final Business Response We believe we have addressed this issue to the best of our ability and fully explained what is owned by the client before the funds from his savings account can be released per the terms of his secured credit card agreement. With this in mind we ask that this case be closed.
Complaint BBVA has the worst company practices - they mislead us through the process and refuse to speak to me despite repeated authorization from my husband. We purchased a vehicle and financed through BBVA. Two weeks later, my 1 year old and I were involved in an accident that left the car a total loss that was not our fault. We immediately started the insurance process. I tried to call to touch bases with BBVA regarding the accident and at first they were very pleasant and easy to work with. They talked to me on the account right away. Then the next time I tried to contact them, they refused, saying I didn't have authorization. The first payment was due two weeks after the accident and because they had not received any insurance funds, we made that payment. They then received 2/3 of the loan balance from the insurance company, but stated that those payments could not be considered in the monthly payment due from us. The Gap Insurance company issued the final payment but had to stop payment on it due to an error on their side. BBVA told my husband (the account holder) that they would be issuing him a check for $1200 and that he did not have to worry about that payment. The collection calls started again and this time they said there was still an outstanding balance. They left messages for my husband and when he tried to call them back to discuss the status, he was transferred to a voicemail to be called back. The Gap Insurance company issued the check for the final payment (including hundreds of dollars of overpayment) fourteen days ago, yet they are still not showing it in their system. When I tried to call today to discuss this with them and get more information, they refused to talk to me. This is extremely frustrating. These people are absolutely ridiculous to work with.
Desired Settlement A correction to the credit report showing the late payments because they have received more than the monthly payments every month.
Business Response We are in receipt of Mrs. *****'s BBB complaint regarding service she and her husband have experienced related to a loan at BBVA Compass. Mrs. *****'s complaint indicates that we did not take ownership to address her issue in a timely and appropriate manner. We sincerely apologize for this poor service experience and this issue has been forwarded to the Loan Operations and Total Loss management teams. Upon review of our records, we were unable to locate any authorization for Mrs. ***** to continue to speak with our representatives regarding her husband's loan account. This authorization must be given each time Mrs. ***** calls in, since she is not listed as a signer on the loan or Mr. ***** must add her to the loan. This is to protect the privacy of our clients. In her complaint, Mrs. ***** mentioned that the gap insurance company placed a stop payment on a check. This may have impacted the transactions processed on this loan. We strongly encourage Mr. ***** to contact the gap insurance company and determine if the stop payment was placed and if a replacement check has been sent and when. On behalf of BBVA Compass, we again sincerely apologize for any inconvenience Mrs. and Mr. ***** have experienced. We encourage Mr. ***** to contact us at 1-800-453-5602 if he has questions regarding the status of this loan. If a representative is not available, we ask that the client please leave a detailed message providing his name, account number, and call back number. If Mr. ***** wishes us to speak with Mrs. *****, he may provide us with permission to do so once he speaks with a representative.
Consumer Response (The consumer indicated he/she DID NOT accept the response from the business.) In their response, BBVA says that we need to follow up with the gap insurance company to check if they have reissued a check. That has been done. As stated in my complaint, the new check was reissued and more than two weeks has passed since the reissue date, yet BBVA still shows that it has not been credited.
They are the only company that we have dealt with where authorization must be given every time someone calls in. This is an absurd policy and very inconvenient.
When a representative spoke to my husband last month, they said that they received $1200 in overpayment on 11/6, that it would be refunded to us and that there was no need to make the payment. We relied upon this representation but they then resumed collection calls, despite their agent's representation to the contrary.
We would like the late payment information to be taken off Jason's credit report.
Final Business Response As stated in our response. Mrs. ***** is not the authorized signer on the account so we cannot discuss the details with her. We believe we have addressed this non-consumer's issue to the best of our ability and ask that this case be closed.
This company is in an industry that may require licensing, bonding or registration in order to lawfully do business. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
BBB records show a license number of 402936 for this company, issued by State of Alabama Banking Department. Their web address is http://www.banking.alabama.gov. The expiration date of this license is 12/31/2015.
Type: State of Alabama
Type of Entity
Incorporated: January 1964, AL
Customer Contact: Mr. Nickolas Martin (Client Care Solutions)Ms. Elizabeth Dobers (Director Small & Medium Enterprises)
Principal: Mr. Alan Register (Birmingham City President)Ms. Anna Bevins (Contact)Mr. Mike Burnett (Manager Client Care Unit)Mr. Manolo Sanchez (CEO & President, BBVA Compass US)
The information in the table below represents an industry comparison of businesses which are of the same relative size. This is based on BBB's database of businesses located in Central & South Alabama. Businesses may engage in more than one type of business. The percent of time the business engages in a type of business is not accounted for. There is no known industry standard for the number of complaints a business can expect. The volume of business and number of transactions may have a bearing on the number of complaints received by BBB.
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