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Hidden Fees
Posted by Angy1508 on 08/15/2011
I opened this account, but never used it for 3 years. After moving, I decided to withdraw my funds to empty the account. Despite only withdrawing the amount which I knew to have placed in the account, I was charged an overdraft fee of $35, because shortly before my withdrawal TCF had charged my account a $5 mail handling fee for my change of address. After doing some research, I discovered that this "mail handling fee" is the new name for what was once called a "returned mail fee." When I spoke to a service representative I was told that this fee was charged even though no mail was ever returned, simply because TCF had received notice from the postal service of my address change. So, my account which I never used and which only had $50 in it for the past 3 years is now costing me $40! I wish I had never opened the account.

     
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Holding my money hostage
Posted by Kaijai on 10/05/2007
I deposited a check for $5600 on 10/02. I was told that there was a 2 business day wait for the funds to be available. On 10/05 I returned to the bank to withdraw the money and was told that I would have to wait 5-7 MORE days and that all I could have was $1500. The Supervisor Hassan was rude. I asked why only $1500 and he just said, it's not available. He was resting on his elbow and holding a personal conversation at the same time. As I became angry, he tried to give more information. I asked to talk to the Manager and he said they were all on vacation and he was the supervisor. I asked to speak with another teller and he refused. Long story short the service at this bank has been horrible for years and I am finally at a point where I don't want to take it any more.

I want my money and the account closed but they refused!
     
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Posted by moneybags on 2007-10-05:
The bank could be protecting you. Could it be that this check may have been "winnings" from a scam or foreign lottery?
Posted by DigitalCommando on 2007-10-05:
Switch to a credit union, you won't be treated rudely there. As a member, you are a shareholder of the bank, so you are more than "just a customer" your the boss. The loan rates are less and easier to get also. Many people assume incorrectly that you have to be a member of a union or something to join. There are many "general public" credit unions now and you dont have to be a member of anything to join.
Posted by grandma005 on 2007-10-05:
A 9-11 day hold is usually the norm for a large check like yours. Any other bank would put a hold like this on the check too. If this a foreign lottery check then it is a scam. Don't withdraw money and whatever you do do not send money to anyone from this check. If they want you to wire money then that is a red flag.
Posted by Anonymous on 2007-10-05:
I agree with DC and here is some info if you are interested.

A credit union is a cooperative financial institution, owned and controlled by the people who use its services. These people are members. Credit unions serve groups that share something in common, such as where they work, live, or go to church.

Credit unions are not-for-profit, and exist to provide a safe, convenient place for members to save money and to get loans at reasonable rates. Did you know there are at least seven ways you can find a credit union that you are eligible to join?

Credit unions, like other financial institutions, are closely regulated. And they operate in a very prudent manner. The National Credit Union Share Insurance Fund (NCUSIF), administered by the National Credit Union Administration, an agency of the federal government, insures deposits of credit union members at more than 9,000 federal and state-chartered credit unions nationwide. Deposits are insured up to $100,000.

What makes a credit union different from a bank or savings & loan? Like credit unions, these financial institutions accept deposits and make loans--but unlike credit unions, they are in business to make a profit. Banks and savings & loans are owned by groups of stockholders whose interests include earning a healthy return on their investments.
Want to find out more? Here's your chance to learn :

http://www.creditunion.coop/what_is_a_cu.html
Posted by DigitalCommando on 2007-10-05:
Lidman, excellent post! You should write this up as a review under banking. It would be nice to see the flocks of customers bailing out from the standard industry.
Posted by Principissa on 2007-10-05:
We use a credit union and won't ever go back to a regular bank. The service is excellent and the interest rates are great. We have yet to have a problem with them that wasn't resolved immediately. Also to the poster, with a check that large there is a certain amount of time that has to elapse before they release the funds. At our credit union it's 10 business days. And then they will only release half of the funds deposited, after another five business days they will release the entire amount. They are only doing it to protect you. Seeing as it's a check for over 5,000.00 they need to make sure that it clears or that the check itself is not a scam. You should be thanking them for protecting you.
Posted by Anonymous on 2007-10-05:
I, unfortunately, had a very bad experience with a credit union in Texas (yeah, I know). After we moved away from the area, we continued to have direct deposits put in the account for years--a nice little savings account. Last year when I was having some remodeling done, I tapped into the funds only to be told I didn't have that much. What? Turns out that someone else had tapped the funds while we were out of the country. I always thought it was an inside job because of the circumstances that came to light. When I asked how it happened, I was told by the security director that the people that withdrew (wire transfer) knew my husband's birth date? What? We received statements every quarter and the money had been withdrawn right after the statement went out. That gave them 3 months before we would have noticed it. I called right before the new statement came out. What in the hell type of security is that? We did get our money back after a couple of weeks--due to the credit unions insurance. And they did change their security questions after this incident. So, make sure your credit union has a list of security questions they use before releasing your funds. Common sense to most of us--but in Texas, not so much. Otherwise, I agree that credit unions are a great choice.
Posted by jktshff1 on 2007-10-05:
Lidman's gotta way with words
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Worst Bank Ever
Posted by Maggiew3861 on 06/29/2012
TCF bank is the worst bank I have ever dealt with, EVER. Customer service is a joke. None of the departments talk to each other. I can't even close my line of credit at a branch in person, I have to fax a note saying to close it down. Does that make any sense. When I questioned that the lady I was speaking with informed me that she had 7 minutes before she left and other people to help. Very very poor polices and if she is indicative of the level of professionalism the employees demonstrate I can't believe they are even in business
     
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Posted by madconsumer on 2012-06-29:
they require it in writing for proof and evidence.
Posted by tnchuck100 on 2012-06-29:
The branch COULD handle this and fax any required documentation to wherever needed. This branch was simply displaying poor customer service.
Posted by trmn8r on 2012-06-29:
I agree with Chuck - a branch should offer to FAX a note, and for that matter they could offer to write the note and have the customer sign it.
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Fails to post direct deposit in a timely matter
Posted by J-bphipps on 02/24/2012
PARKER, COLORADO -- My IRS refund was direct deposited into my account on Feb 16, 2012.

Still not posted into my savings account by February 22, 2012. TCF says they can take seven days to post. An IRS direct deposit tax refund takes seven day to post????? Why would anyone do direct deposit only to have them hold for a week.

Its TCF's way of screwing their customers so they can accumulate
interest on your money.

Closing my account as soon as money post. Taking my money somewhere else

     
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Posted by tnchuck100 on 2012-02-24:
Some banks will hold deposit as long as legally possible. Multiply that by thousands of customers and you are talking about some serious interest free loans from the banks customers.

There is absolutely NO legitimate reason to hold any direct deposit other than sheer greed.

Find yourself a local bank or credit union. Financial life will be much better.
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New $28/day Overdraft Fee & Poor Customer Service!
Posted by USTaxpayer on 10/22/2011
WAYZATA, MINNESOTA -- Well TCF, a new class action lawsuit I am sure will be coming your way thanks to your new daily overdraft fees of $28 a day!! I have been a customer for over 15yrs and I will be closing my account and going with my local credit union. Enjoy the money you have stole from me and you can keep the. 02 cents of interest I'm getting on my crappy savings account! When is someone going to bail out the hard working citizens of America instead of these greedy, self-serving BANKS!!!
     
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Posted by spiderman2 on 2011-10-22:
Not that I'm saying $28/per day is right, but in theory when you spend money you don't have you stole from the bank. It cuts both ways.
Posted by Anonymous on 2011-10-22:
Decades ago, I remember taking a class in high school that actually taught a person how to keep a checkbook balanced. Therefore, you didn't spend what you didn't have, and you never incurred over-draft fees.
Posted by ChuhBaca on 2011-10-22:
I know we understand that you shouldn't spend more than you have. But life happens! I feel for people just starting to make their way. Something gets withdrawn for auto-pay right before their pay is deposited and they get hit with huge fees!

What good does it do to add $28/day of debt to someone who barely has enough as it is! I can tell you that when my wife and I were starting out, we felt instant relief when we switched from 1st Bank to a credit union. It sounds like an exaggeration, but you would not believe how much of a difference it made.
The bottom line is; the banks have seen that they don't need to build relationships with customers because they can just get a bailout. Find a good credit union and you will be much happier.
Posted by trmn8r on 2011-10-22:
I am inferring from your complaint that one item reposted multiple times and was declined to to insuffucient funds, generating a $28 fee each time. That would be consistent with what other banks do.

If TCF charges $28 per day simply because your balance is negative, it is time to find a new bank.

The trick of course is to keep your balance positive in the first place. I had a few overdraft fees and learned my lesson. It was years ago, but I am still smarting from the feeling.
Posted by clutzycook on 2011-10-22:
In reference to your savings account generating a paltry 2 cents per month (or is it per quarter?), all savings accounts are like that these days. Doesn't matter which bank you stick it in.
Posted by USTaxpayer on 2011-10-25:
To trmn8r:
Yes it is $28/day if your account is $5.00 or more overdrawn. I am not opposed to a per transaction fee, which is the way it used to be. Basically TCF has gotten greedy.. and want to increase their profits plain and simple.
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No customer service
Posted by Cbt7958 on 02/16/2011
I opened this account in Illinois in 2001. All was well while we lived in Illinois but things started to go downhill when we moved to a state without a brick & mortar presence. And then things completely fell apart in 2009-2010. Every time I had a question or concern and contacted a telephone Customer Service rep, I would get three different responses to the same question depending on who I spoke with on the phone. And in this age of internet banking, they were completely incapable of handling my banking needs unless I could get to a branch. Finally I had to call & close the account. I called all auto debits and had those cancelled too. But one still went through and the bank hit me with overdraft fees & reported the account to collection with no notification.
     
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Posted by Alain on 2011-02-17:
I always prefer a bank where I can go and speak to a human personally if I have a problem.
Posted by Daniel A on 2011-07-24:
After being an account holder for 12 years, I can tell you that TCF does not have the attributes that one may expect or desire from a bank. They are not professional, dependable, reliable, helpful or responsive. The people(tellers)at the grocery store behind the makeshift counters are not bankers
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Hidden Fees - The Banks Want Your Blood
Posted by AVERAGE JOE CANT WIN on 05/21/2010
I HAVE HAD A TCF BANK ACCT. FOR THE PAST TEN YEARS. THEY WHERE NEVER NOTHING SPECIAL BUT THE ACCT. WAS FREE AND HAD MANY LOCATIONS. TODAY I SEE A FEE ON MY BILL FOR $9.95 FOR MONTHLY MAINTENANCE. I CONTACTED CUSTOMER SUPPORT AND THEY SAID, "WE NO LONGER HAVE FREE CHECKING." THEY SAID THAT YOU MUST MEET THE CRAZY REQUIREMENTS; OTHERWISE, YOU PAY THE FEE. I HAD TOLD THEM I WAS NEVER NOTIFIED AND THEY BASICALLY SAID WHO CARES. I'M CLOSING MY ACCT. TODAY AND GOING TO CHASE. THEY CAN KEEP THEIR FEE BECAUSE THEY LOST MY BUSINESS FOR LIFE.

DON'T SETUP A TCF BANK ACCOUNT.
     
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Posted by Weedwhacked on 2010-05-21:
Chase does the same thing. I believe the monthly fee is for accounts where you do not have direct deposit. Read the rules that Chase has.
Posted by skelly39 on 2010-05-21:
samsung-What are you talking about? Are you disparaging the OP for not wanting to pay for a free checking account?
Weedwhacked-You are probably right, but I think the OP should check with the bank in question, not with Chase.
Posted by memoryx57 on 2010-05-21:
If you go to Chase you'll be jumping from the frying pan into the fire !! Not a good idea at all. You need to read the complaints on just this site alone. Find a local bank in your area. I think you'll be much happier.
Posted by AVERAGE JOE CANT WIN on 2010-05-21:
The point of the article is not about reading the fine print. TCF Bank was offering totally free checking for the past ten years. They didn't notify their customers that this program was being removed. They neglected to notify me.
Posted by skelly39 on 2010-05-21:
Average-They may have slipped some teeny tiny print on one of your bank statements about it. Either way, hopefully you've saved someone some hassle.
Posted by Mrs. V on 2010-05-21:
I would suggest a Credit Union. They seem to have the best terms and the best CSRs.
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TCF Bank Robbed Me
Posted by Commonsense15 on 11/22/2009
ELK GROVE VILLAGE, ILLINOIS -- This is not about an overdraft fee, which they hit me with in the past. This is about them closing my banking account and taking all the money without telling me.
I have been a customer for over six years and have two accounts with them. One I didn't use and the other I used. After three months of not using one account(which had money in it) they closed it without any word. I went to talk to them and there is nothing they could do. I am student teaching, I have no income, and these people take my money!? Forget them.

     
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Posted by Anonymous on 2009-11-22:
There's got to be more to this story. Banks however unethical they are don't do things that put themselves at risk of law suits.
Posted by Anonymous on 2009-11-22:
I agree with jtf. Banks do not close accounts after only three months of inactivity. If they did, you need a lawyer.
Posted by Ytropious on 2009-11-22:
Check the terms and conditions of the account. You agree to them when you sign up. While I agree with the others that you probably are exaggerating about it only being 3 months, who knows it could be in their T&C that they have that right. I really don't know.
Posted by Anonymous on 2009-11-22:
What happened was thatthe account had a small balance, and when the fees brought it to zero, they closed it out. If you're not using an account, move the funds into an accountthat you are using, avoid the inactivity fees.
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TCF Bank's funds UNAVAILABILITY for new customers
Posted by John M60007 on 10/11/2009
In their promotional material, TCF says "Tell your friends about the confidence you have in us." So, I will.

On Sept. 28 I opened an account at the TCF branch in my local Jewel. I wanted a separate account for my business travel expenses and the location was convenient. Opened the account with a $1500 expense check I'd received from my local employer (drawn on a local bank). On October 7 (9 days after opening account: 7 business days) I do an electronic funds transfer for $1200to pay my Amex bill -- and TCF bounces it and charges me $35!

I got nothing but blank stares at my local branch and nobody had a reasonable explanation other than "sometimes it takes longer for new account deposits to clear". Well, that's not my opinion of how you treat a new customer -- and it's probably a preview of more surprises to come -- so I closed my account.

As they suggested, I will gladly "tell me friends" that they should never do business with TCF Bank!

     
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Posted by Mrs. V on 2009-10-11:
When you made the 1500 deposit, when did the receipt say that the funds would be available?
Posted by Anonymous on 2009-10-11:
There are two banks involved in processing a check--are you sure TCF is the one at fault? And while 7 business days is surely a reasonable amount of time for a check to clear, it's always a good idea to check an account balance before doing an EFT on it.
Posted by Anonymous on 2009-10-11:
You're going to find that no matter what bank you go to. They have to establish a "banking relationship" with you. Therefore, for the first 3-6 months, your checks are going to be put on hold. Everything like deposit, deposit holds, fees, funds availability... all those things were explained in the paperwork they handed you when you opened your account.
Also, your receipt after you made your first deposit should have had the date to when the funds would be available.
It's also a good idea to make sure your funds are in there first, before, doing any sort of transfer.
Posted by PepperElf on 2009-10-11:
it's best to check to make sure funds are actually there before you try spending over half of them...

a little bit of CYA never hurts
Posted by Anonymous on 2009-10-11:
Seven business days should be plenty of time to clear a check and release the funds or notify the customer that the check was return unpaid and should notify the person who wrote the check. Most check processing is done electronically. This is unacceptable in todays electronic age.
Posted by Anonymous on 2009-10-13:
In the paperwork you got when you opened the account, there is a Funds Availability Policy. There will be a table where you can check to see what the clearing time is for your particular check. Then, find out how much extra they add during the new account period. If the total is less than seven business days (which I am sure it is), go back and point out to them that they are in violation of their published policy, and that you want your $35 back.

If they refuse, call the office of the banking commissioner in your state and ask for a dispute form, file it and send a copy to the bank.

The chances are that it was just human error, but they still need to make good on it.
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TCF Bank
Posted by Wood0771 on 07/06/2009
OAK CREEK, WISCONSIN -- We all know about bank fees being crazy now days. My fiancée and I have been with this bank for 6 hellish months. I have never experienced such disatisfaction in all my life. Their over draft fees are 10X higher then I ever experienced! Before this, the highest I experienced was around 35 dollars or so. We have been slapped with 2 separate $175.00 dollar over draft charges. I found it interesting that it takes them less then a day to process your debit card and credit card charges or checks that you write for something. But it takes 3-4 days minimum to process direct deposits. Since our direct deposits were pending during this time, hence the over draft charges. Hence STAY AWAY! We also had to pay for our new checks when opening a new account and we were forced to open a Savings.
     
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Posted by MundoCaniDog on 2009-07-07:
You obviously don't know how to manage a checking account, and for some reason that's TCF's fault.

First lesson: Stop spending more than what's in your bank account.
Posted by yoke on 2009-07-07:
What did the bank do wrong?
Posted by Anonymous on 2009-07-07:
The bank doesn't 'process' direct deposits (in the manner of checks). They come in electronically, with a post date attached to them, and on that date they are in your account. The post date will be the date that is on your pay stub, which is usually not the day you actually get the pay stub. All you have to do is look at it to see what day the funds will be in your account.
Posted by wood0771 on 2009-07-07:
I have been managing checking accounts for over 30 years now. I have never had any problems till I used TCF. For those of you that think its my fault, look for yourself and see how their online banking is set up. They don't show your balance after each transaction, its on the top which is confusing. NO, it does not take 3-4 days to process Direct Deposit. Go ahead and try TCF for yourself.
Posted by BokiBean on 2009-07-07:
Are you sure each overdraft was for $175, or was that a cumulative total?
Posted by yoke on 2009-07-07:
They do not need to show you your balance after each transactions, it should be in your check register.
Posted by iBeeta on 2009-08-11:
This week TCF used 3 unauthorized pending debits to bounce $175 worth of debits (that would have otherwise been covered) and then bounced the same pending debits when two posted the next day, the third a day later for another jackpot of $105. They refused to stop payment on the pending debits (why?) and made me fill out a bunch of papers and said it would take 10 days. They told me they would cancel my card and cut it up (add 10 days for another card). Today I find out that they did not cancel my card that day, my insurance payment bounced and was returned (I had told them it would be declined), so that caused me a charge from them as well as another $35 from TCF. This weeks total is $350 in nsf charges. I am writing to my Attorney General, Federal Trade Commission and TCF Corporate. I am posting this on all TCF complaints - you should copy and paste your post also if you have time. This is the reason...

The "make money from home" drones. I always wondered what that was all about. You should be getting around to 10 or more comments scolding you, some out-and-out insulting you. Example: Read your contract, blah,blah. // If you don't know how to manage a checking account you shouldn't have one. // Some will give you their sage explanation or technical logic of how the system works and how you can avoid this problem like you're an idiot. Just ignore them, especially the ones who mention check registers as they are useless when dealing with TCF. They conveniently removed the time of transaction off the account summary. Why would they do that? Proof that your money was in the bank when you used your DEBIT card maybe?

I finally figured it out when I posted a "ripoff" report on Discover card ... - every post was pro-Discover. People calling me a deadbeat, etc. I thought it was strange that so many people were sitting around defending Discover card in one night. It hit me as I was thinking "is somebody paying these people or what?" Ya, probably per post. So now, when I have a little extra chill time, which is not real often because I have a real job, I dedicate it to supporting honest hard working people getting ripped off and trying to prevent others from the same misfortune.
Posted by BokiBean on 2009-08-11:
I DO think its a ripoff and just milimeters away from being an outright scam. Some people don't see it that way, and see overdraft fees as a just punishment. It boggles.

I'm sorry for your trouble. Consider a credit union. The one we use doesn't jack us around with direct deposits.
Posted by Irene fouther on 2013-06-16:
More fees that the law I have a new bank what a ripoff
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