Ex Employee: I want to say that you have written some very valuable information. Had I known some of the things regarding the way First Convenience Bank makes their money, etc... prior to have opened an account there, the account never would have been opened and I would not be in the situation I'm currently in. I've already filed a report of my own, so I won't write a repeat of it here, I'll only mention the two points you referenced which now (unfortunately, after the fact) have at least caused me to make some sense out of why they did what they did to me. NOT that it makes it any more right....
1). I blamed myself for not having seen a Red Flag when the man who opened my account was so very eager to do so, as well as not having insisted on thoroughly reading what I signed, instead of allowing him to rush me through the process. I still do, as it is my right to know and understand what I'm signing. However, after having read what you wrote in regard to the fact that employees are pressured to open as many accounts as possible, I still don't condone his behaviour, but at least I somewhat understand it.
2) I was completely mystified as to why they abruptly closed my week old account the day after I had deposited $100.00 cash, citing "item twenty-seven of the deposit agreement" (which you are probably familiar with) that basically says that they have the right to close any account for any reason at any time and they are not libable for any damages to the customer that arise from the account closure. I could not imagine a single thing I had done wrong to even make them want to close it.
After having read in your comment that they count on account Fees, NSF and OD in order to make their money, I now think that the fact that within a couple of days of opening the account, I had already satisfied a requirement for not having fees charged to me Power Checking Account by having deposited $100.00. It still all seems awfully flimsy... but at least, as wrong as it was what they did, I can somewhat see their misguided motive.
Unfortunately, I think the majority of people who read these Ripoff Reports are people who have already been Ripped off or wronged somehow by the company... therefore end up in this Ripoff Report part of the Internet... Your comment was made in 2008, I don't know if you will ever see this that I'm writing now in Nov. 2009, but I hope you do, as it is of appreciation. Also, if it makes any difference to you now... a year later, they are still doing the same thing.. not a good sign. If you happen to know of which reguolatory agancy.. or other agancy that might make a difference, I sure would be interested to know whom else to contact about this. You could read my full report right here under: First Convenience Bank A division of First National Bank Texas, if you so choose.
I wish you all the best in your new job with the raise!
To Gary: I fully understand the pressure you were under as you were most likely rushed through the process of opening the account for your son, and if it went anything like mine, any question you may have asked was probably met with something like, 'Oh, that's nothing, that's just standard, not a problem, that's nothing to worry about....." all said with a convincing smile.
