BB&T-Branch Banking & Trust Put 1/2 of Cashiers Check on hold for 5 days, 1/2 1 days, locked up my few dollars as well! Walterboro South Carolina

My Husband deposited a Cashiers Check in the bank that we have done business with for several years. After the deposit was taken, 13:04 pm, 2/2/07, the cashier told my husband there would be a five business days hold on the first half of the money and 11 buiness days on the balance.

My husband asked why because it was a cahiers check, she said it did not matter, it was the FDIC policy to hold these checks over $5000.00. (I have ben told by several that this is not true).

We were not happy with this info as we had pending business waiting on some of this money, but we went on about our business, however on Sunday, 2/4/07, we pulled into a gas station, inserted the bank card and was denied authorization to use the card to buy gas!

I called the 1-800 number and the recording had us almost $4000.00 in the negative!

When I got home, I went online and sure enough, it showed we had a good bit of money under current balance,( over $9000.00) however it showed alomst $4000 negative as the available balance?!?!?!

I called the help number, they had me on hold to look into my account. Came back asked when it was deposited, back on hold, came back. they could not help. but for us to go back to the bank Monday and asked them to release the money. I told him they were the ones that told us it would be held. Back on Hold again, said his supervisor said there was nothing they could do to help.

Now...my $9000.00 is on hold, my $140.00 is tied up because my account is showing a negative balance of almost $4000.00. I do not get paid for amother week, and I need my $140 for gas!

And no one can help.

Is this truly a policy of the FDIC? If yes, WHY? I understand holding private checks of large amounts, but i do not understand holding a cashiers check.

Jane
WALTERBORO, South Carolina
U.S.A.