Tcf Bank Refusing to process payments while funds are in the account, outrageous overdraft fees, reversal of payments, incorrect balances causing overdraft fees repeatedly, mismanagement of funds multiple times a week. poor customer service minneapolis Minnesota
My husband and I are constantly checking our account only to be dissapointed in the findings. It has gotten to the point we realize we are being robbed weekly and it is causing us to go into debt. Tcf bank has not only made it impossible to access our account online many times, but they have their system set up to show your available balance as correct, then in turn after paying bills or making withdrawals, showing your funds were never there which is absolutely incorrect. We're paying at least 500 bucks a month in hidden fees as well as overdrafts and now they have just stolen funds from our account and changed the entire balance all together! We are fed up with this establishment and the theft that goes along with it. My husband had 2 direct deposits and our balance was accurate, I checked the account tonight and suddenly we are almost 400 dollars in the negative not to mention we have no idea where our funds went. Fraud!!!
3 Updates & Rebuttals
coast
Florida,It's not fraud
#4Consumer Comment
Fri, December 05, 2014
“My husband and I are constantly checking our account…”
Enter all of your transactions into a check register and you won’t need to constantly check your account.
“…we realize we are being robbed weekly…)
Those are known as overdraft penalties.
“they have just stolen funds from our account and changed the entire balance all together!”
Yes, of course your balance will change after they have withdrawn the penalties.
“we have no idea where our funds went”
That’s because you don’t maintain a check register. Get your act together.
mgill
Minnesota,TCF SUCKS!!!
#4Author of original report
Fri, December 05, 2014
That is all
Robert
Irvine,California,
Your title was very telling...
#4Consumer Comment
Wed, December 03, 2014
Whether or not you realize it the very first words of the title of your RipOff was very telling in what your issue truly is.
Tcf Bank Refusing to process payments while funds are in the account....
From that one statement I can tell that you do NOT keep a check register and rely on the online banking to manage your account. And here is an example scenario.
Your online banking shows you have $150. You write a check(or do a debit) to Company A for $100, however it is not processed by Company A for a few days so your account still shows $150. You "forget" about that payment and write another check(or debit) to Company B for $75 because online banking still shows you have $100. Now, the Company A debit comes in and you only have $50 left..then the company B comes in and you are overdrawn by $25.
Here is another scenario
Your account shows you have that same $100. You go to a resturant and have a bill of $50 but added the tip for another $7.50. Now, because the resturant doesn't process the tip yet your account still shows you have $50. You then write another check for $49 to give you a balance of $1. However, a day or so later the resturant posts the final amount of $57.50 so you are now overdrawn by $6.50.
Online banking was NEVER meant to be the sole method(or even a primary method) of managing your account. You must keep a written register. Where you write down EVERY transaction you make and more importantly never spend more than you show you have available. As online banking only knows what it has received...but your register knows what you have actually spent.
Next you need to know your bank's Funds availability policy, this is when a bank will make your funds available. You also need to know how they process deposits. That is do they do your debits or credits first. If they do debits first that means that even if there is a deposit any debits that come in that same day will be processed first. So this is an easy fix...wait at least one more day to make sure your deposit actually gets posted.
We're paying at least 500 bucks a month in hidden fees as well as overdrafts
- If this isn't an exaggeration why are you still with this bank? After all if you blame the bank one would think that for at least $500/month in fees you would go through the hassle of changing banks..so why haven't you? Perhaps you had similar issues at other banks. If that is the case then you really need to start to realize that perhaps it isn't the banks..it is you.