First Convenience Bank

First Convenience Bank Review

Reviews: 1


Total views: 3991

Published: 23 June 2018

Posted by: Anonymously

I recently moved to Texas and needed a local bank to deposit my expense and tr Ave checks from my job. The purpose of these checks is to pay for my travel accommodations when out of town. I deposited a check on the day I was to leave on a certain trip. Then all h*** broke loose. First, the bank tells me that they have to hold the check for 7 business days because they have never heard of the company (it’s based in another state and unless one works in the industry, one probably would not have heard of it). Of course the teller tells me this after endorsing the check and writing all over it so my chances of taking it to a branch that the check was drawn on is zero. So, I deposit cash from my family account to cover what I need until the check clears. While away on my trip I notice I am now negative 695 dollars in the account! How? I called and they told me they were holding ALL deposits, cash and check, until the check clears. My hotel payment and gas and oil change had put me negative because they were holding everything. I had never heard of such a sleazy practice. In case you don’t know, banks take your deposits and loan that money out and get interest. They keep the interest and then pay back your money when you withdraw it. That’s the business model. And that is fine. But, when you take my CASH deposit and loan it and charge me overdrafts because you are holding it, then I get pissed. I finally got them to reverse the charges which put me back in the positive. I spend a little on the family when I get back (food and a rented movie) which still leaves me with enough in the bank to stay positive. I wake up this morning to find that the check still hasn’t been released (I deposited last Wednesday) and that they put through check and deposit slip charges that should have gone through a month ago. So they waited until I was right there at the crusp of a zero balance before pushing those charges through. And because it is listed as two separate transactions (checks and deposit slips) have charged me two overdrafts of 70 dollars. All while my 600 dollar check is still being held. In this day and age you are telling me that a bank cannot verify a business, an account, and funds in less than 7 days? Very deceptive and reeks of theft.

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