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TCF Bank Complaint - Holding my money hostage
Complaint
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!
I want my money and the account closed but they refused!
Comments:
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 Lidman 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
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 dianec 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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