Consumer complaint received 2019-02-08
Company: BBVA FINANCIAL CORPORATION
State: AR
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Problem with paying off the loan

Complaint:
XX/XX/XXXX, XXXX Friday Traded in our XXXX XXXX XXXX XXXX our dealership requested a fax of the payoff amount from BBVA Compass Bank . BBVA Compass Bank quoted the dealership {$21000.00} XX/XX/XXXX, XXXX Saturday Dealership over-nights a check for {$21000.00} to BBVA Compass Bank . 

Our auto draft payment for the XXXX is scheduled for XXXX of every month XX/XX/XXXX, XXXX Monday BBVA Compass Bank withdraws {$470.00} from our personal bank Account at XXXX XXXX 

BBVA Compass Bank receives and signs for the check from the dealership for the payoff amount of {$21000.00} at XXXX XXXX 

1st phone call to BBVA Compass Bank- I call BBVA Compass Bank at XXXX XXXX. reguarding the {$470.00} that was withdrawn from our account, so the we can be reimbursed because the Loan has been paid off through the dealership. BBVA Compass Bank says that they have not received a payment from the dealership, and there is nothing they can do. 

2nd phone call to BBVA Compass Bank- XXXX XXXX my husband calls again hoping that maybe it took a while for them to process the dealership check. BBVA Compass Bank tells him that they have received the check and we will be reimbursed, and a check will arrive to our residence within 7-10 days. 

3rd phone call to BBVA Compass Bank- XXXX XXXX BBVA Compass Bank did not confirm the amount of money they were going to reimburse us to my husband so I call them to confirm the amount. BBVA Compass Bank tells us that they will only reimburse {$350.00} of the {$470.00} that they took from our personal account, but would not tell us why they were keeping {$120.00}. I was also told that the Actual Payoff for the loan was {$21000.00}. When I asked them why our dealership was quoted {$21000.00} which is {$130.00} less that what BBVA Compass Bank is telling me, they had no definitive answer. 

None of the numbers are adding up. 

XX/XX/XXXX, XXXX Thursday I call BBVA Compass Bank XXXX make sure that a check had need sent in the mail because we are on the 8th business day of when we last spoke to a representative and have not received anything yet. The BBVA Compass Bank representative tells us that Compass Bank is keeping the interest off of the {$470.00} that they took out of our account on XX/XX/XXXX. When I said that the payoff amount quoted from BBVA Compass Bank included interest, he quickly back tracked and said that is not why they are keeping the {$120.00}. I was told by the BBVA Compass Bank representative that if I wanted the full {$470.00}, that I would have to provide a copy of the payoff fax that BBVA Compass Bank sent to the Dealership, and until then we are only getting {$350.00}, and the check was sent on XX/XX/XXXX. When I told the representative that the dealership did not keep the copy of the fax, I was told there was nothing I could do to prove the payoff, even though the Loan was shown as paid off in their records. I was then told by the Representative that {$140.00} was left on Loan so they took it from the automatically drafted payment. This still does not mathematically add up.

Company response to consumer: Closed with explanation