1st Convenience Bank, 1st National Bank of Texas Holding Guaranteed Deposits, Internet

I opened my account with First Convenience Bank around the middle of February 2012. Upon beginning my job at the local Community College on February 20th, I was told my first check would not be available until the end of March. I borrowed $500 from a family member and he sent me a bank check from Wells Fargo for the amount of $500. I was told because Wells Fargo would not verify third party information they had to hold the funds until the $500 could be verified.

On March 8, 2012, I received my retirement check from the State of Colorado. The check was for a little over $10,000. I was told because of the amount of the check, they would have to hold the funds for up to two weeks. I called the state offices in Colorado and they verified the funds were available, but the bank would still not release the funds. They had me sign a paper stating I would get $4800 on March 14th and the balance on March 21st.

My first payroll check from the Community College was supposed to be direct deposited on March 30th, 2012. Because the retirement paperwork was not entered in sufficient enough time, they issued a paper check. I picked up the paper check at the business office and drove to First Convenience Bank. The teller called Chase Bank to verify availability of funds and informed me I would have the funds available on Saturday, March 31st. Upon attempting to withdraw funds on March 31st, I was told that a hold was placed on that check for the entire amount of $5,900, leaving me no money to pay my bills. I tried to call the central offices in Killeen, but they were closed for the weekend.

On Monday, April 2nd, I called the banks central office in Killeen. As I was explaining the situation, the lady who answered the phone said she was sorry, but that is just the way things are. She then hung up on me. I called back and asked for a supervisor. The supervisor informed me that the Loss Prevention office had placed a hold on the check and I would have access to the funds on April 9th.

I asked for a number and contact information for the Loss Prevention office and the supervisor stated they do not talk with customers and there is no public telephone number available. She went on to state, Now that I was aware of the policy, I could plan better in the future. I explained to her that I need to pay my rent and purchase my heart medications and she said she was sorry, there was nothing she could do for me. I never signed a form stating my money would be held until April 9th.

I contacted the payroll office of the Community College, who contacted Chase Bank, who wrote and faxed a letter stating there were sufficient funds to cover the payroll check. Once again First Convenience has denied my request to release my funds.  Because of the frequent occasions of preventing my use of my money, I have been assessed a number of insufficient funds charges because of automatic payments I had established based upon the availability of my money.