I really don’t see what problem people have with TCF. I have no affiliation with TCF, I just don’t think they are a bad bank. So many people I talk to rip on them, because they ‘charge weird fees’ or ‘screwed them over’. Well I’m sorry bud, but if you write a check for $31 and you have $30 in your account ANY bank will charge you overdraft fees. Really I haven’t seen any solid proof that would give reason to believe that TCF is a horrible bank like some people make them out to be. The reason I mention this is because the Northern Star has an article today about it:
http://www.northernstar.info/articles/?id=11374
The article talks about how this one person had fees, which she shouldn’t have gotten, she went through a mess to get them resolved but the article even states: “In the end, she got the overdraft fees back and successfully paid the bill, but she was not happy.” Alright, so what’s your problem, I doubt anyone can tell me a bank that hasn’t put someone through hell at one point, YOU GOT YOUR MONEY BACK, give it up! Yes, I wasn’t happy when TCF charged me wrongly either, but I called, and complained about it, and they reversed the fee, problem solved.
Others complain that TCF has a whole bunch of hidden charges, including if you use your ATM card as a credit card, or something similar, that they get some $.30 fee. I don’t know what their talking about, I’ve used my ATM card and I sure don’t have any fees on my statements. In talking to someone just a few days ago, they stated that their bank didn’t charge for using any ATM, no matter who owns the ATM. Saying that, I really don’t think people are comparing the same accounts. No your free student TCF account does not include free ATM transactions for non-TCF ATM’s, however other non-student checking accounts through TCF have that option. So we can’t compare our home bank account, that you have to have a $500 balance and you get 1.00001% interest, to the FREE student TCF account.
The article also mentioned that “Many students, however, have complaints with the bank. On www.livejournal.com, for example, 28 comments on an entry on TCF Bank were posted by members unhappy with the bank’s service. Only one of the entries is favorable.” I searched the NIU community for a bit, and I sure don’t find anything about TCF. I do remember seeing something though, just was not able to find it, but I don’t remember only one person saying TCF was good, I thought others did and I’m pretty sure I did.
I’m not saying TCF is the ultimate bank, I have Old Second, and Castle as well, I’m just saying location wise TCF is the best choice. Depending on where I go after college, I may close my account at TCF, just depends on what they offer and what other banks offer, however for anyone going to college on campus it only makes sense to have a TCF account, purely for convenience. Also like the article stated, most people are from the Chicago area, and that’s where TCF is predominate. There’s got to be a reason “From 1999 to 2003, TCF experienced the fourth-largest period of growth of any bank branch in the U.S.”
I also posted this on NIU Livejournal, check it out for other students comments.
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Free checking accounts are supposed to be bare-bones, that’s why they have so many fees and other “gotchas” attached to them. I know through experience that TCF will always reverse an overdraft charge if you talk to a manager. That’s pretty good service for a bank. Try asking Citibank or Bank One for the same thing.
My senior year I went looking for an alternative bank because at the time TCF wouldn’t interface with Quicken. It’s hard to find a bank, with branches in Dekalb and in the western suburbs, that offers free checking. I ended up with 5/3rd, which is over by Walmart. Still not as convenient, but I’ve been happy with them ever since then.
But yeah, I will agree with you, TCF is a pretty decent bank for free checking. You can’t beat the convenience of TCF, they’re everywhere! If you can’t balance your god damn check book, I’m sorry but the $35 penalty is the least of your worries. So stop bitching.
I should also mention that I know someone who had their TCF checking account number and pin stolen (paypal scam) and lost close to $1500 because of it. TCF ate the whole thing and deposited the $1500 to a new checking account within 48 hours. IMO, TCF was under no obligation to provide the $1500, but they did and the experience ended being a positive one.
yes, and if you just watch what they charge for, a checking account is really free. i mean not only is my discover credit card totally free, they also pay me! if ur dumb and dont watch what they charge for, yes you will pay discover some 25 stupid %, so therefore, you cannot have a balance! its just that easy, dont use non-tcf atms, and you will have no surprise fees!
ive said a lot more on the niu livejournal, look at the comments there.
This is about a comment made by John. I have an account with a Founders branch and I had money taken from me one three separate times. If you catch the mistake soon enough which I caught it the third time then the bank will pay you the money that was stolen from you because you didn’t authorize the charge or allow anyone to take it. It is a banks policy to try and fix want went wrong. But I have known people that had experience with TCF and they would deposit money into the account and it take sometimes almost a whole week to clear before the amount was listed and you could touch it.
Good lord! Three times?
Well, I have to disagree that TCF is a decent bank. It’s fine to say just balance your checkbook, but I have found that to be nearly impossible with TCF since they are so good at hitting your account with fees. I’ve had fees show up on my account when it’s been inactive for a week. I once had a $14 ATM fee assessed to my account (surprise!). Since I am struggling and can not afford to keep much cash buffer in my account, I am the kind of customer TCF just looooves – the poor who can not afford their charges, resulting in more charges, resulting in more charges. And their mistakes on my account have been innumerable, and no, they do NOT necessarily refund overdraft fees, even if it’s their goof. They refunded fees to me once, but only the fees that were a direct result of their mistake. It did not pay for the big returned check fees of the merchants I had to pay off to clear up the returned checks. And I can’t just close my account and go to another bank because I am still in the check reporting system despite the fact that the checks were paid. I need an account for my business, so TCF has me by the short hairs. And while we’re at it, I talked with two different people at TCF about a fraud issue and another issue, and they are both a week late in getting back to me. Go, TCF!