America’s Most Convenient Bank?

I’d like to preface this by saying I’ve used Commerce Bank since I was a kid. I’ve always been very pleased with the services, and even toot their horn every now and then reminding friends and colleagues they are “America’s Most Convenient Bank.”

I even worked for Commerce for nearly six months, with little or no negative things to say about them. The job was boring at times, but the people were nice and their banking systems were, I was told, advanced.

My perspective shifted exactly two weeks ago.

I started a new job as a Sales Manager for The Enterprise Center at BCC, a conference center owned by Burling County College, but operated by Flik International Corp. (the company I work for) which is a subsidiary of The Compass Group. Get all that?

My direct deposit was set up through The Compass Group site, payday rolled around on Friday two weeks ago, but the money didn’t appear in my account. I waited. Maybe because it is my first paycheck it takes longer, I thought (even though I knew that sounded nonsensical). That afternoon, my boss printed out the statement showing the funds were released by Compass; still no money in the account. I called Commerce customer service and eventually learned that the direct deposit was “coded” as going to a savings account. Who gets their paycheck sent to their savings account? Mine, of course, was supposed to go to my checking account.

Commerce insisted we made a mistake, which I refuted because both my boss – a really sharp guy – and I were sure the direct deposit info was entered correctly. We swallowed our pride, and as per the request of the bank, faxed a letter stating we mistakenly entered the info as savings rather than checking and to please correct the problem, etc, etc.

I faxed the letter to the ACH dept. (ACH? I don’t know what it stands for either.) then called customer service to ensure delivery. Customer service calls ACH and then comes back to me saying they didn’t get the fax. I got in my car. Drove to a branch. Sat down with a CSR who then called ACH and told me they had actually received my FAX.

The pisser is, the correction wasn’t going to be made until the next business day. And the business day after that, you get the money.

Probably the worst news you can get on a Friday is that the money from the paycheck won’t be available until Tuesday. Well, maybe not the worst. But it’s pretty bad.

As promised, the money was in my account Tuesday morning after floating around in neverland for four days. Thanks guys.

I held my breath for two weeks wondering if it would happen again.

My boss and I conferred; we entered the information correctly. We both agreed we thought the kink had worked it self out, and rather than risk mudding things up more by entering my direct deposit information into the system again, we’d go ahead based on the assumption this issue was resolved.

On the bright side, today my co-workers got to see a new side of Jeff: the frustrated (and slightly volatile) one.

It happened again.

As a seasoned veteran to this situation, I first called customer service to confirm the problem. Again, I got the same schpeel, “If we receive a letter from you by Monday morning at 11:00 a.m., you will have the money Tuesday.” I said, “But it’s Friday. Is there anyway to fix this quicker?”

I was told if I got a letter to them by 11:00 a.m. today it would clear tomorrow. After all, this is America’s Most Convenient Bank. The nice woman suggested adding a note stating I was going away on a trip (which I am) and that I need the money (which I do). I took her advice and also added that this was not the first time we encountered this issue.

I faxed the letter we sent two weeks ago and the letter I wrote up today to my boss, who was not in the office yet. He created his own letter very similar to the one I wrote today. He faxed it back. I got in my car again.

Sitting down across from a CSR at the branch around the corner, I just handed the letter across the oversized wood deck. It seemed easier. A succinct letter.

After some (expected) confusion, the ACH person relayed that the CSR I spoke with this morning was incorrect. Great. The mistake must be corrected the following BUSINESS day and then the money will be available the following day. I couldn’t believe it.

I took a few deep breaths, calmly got up, smiled, shook Kristen’s hand and walked out of the branch.

I believe the phrase is “an exercise in futility.”

So, to be clear, at a bank stressing their convenience and customer service, that happens to be open seven days a week:

-Direct deposit error occurs on Friday morning
-Letter to the department handling direct deposits received before 11:00 a.m. on Friday
-Affected customer sits in branch with customer service rep Friday morning
-Affected customer gets money … Tuesday

Wha!?

Where does this money hang out all weekend? Is someone making money with my money?

When it’s released by Compass, Commerce must have it somewhere, right? If so, why can’t they just move it my account?

How come someone sitting behind a computer cannot quickly change the deposit from savings to checking?

What’s to stop this person from clicking around until the money makes its way to the right place? How hard could that be? The problem was very clear. A clear problem should have a clear solution.

Getting my money that day would certainly “WOW” me.

Why is the correction made on the following business day? And why does it take another day still to see the money?

America’s MOST Convenient Bank?

Man, I’d hate to see what the other guys are up to if that’s the case.