Tcf Bank Rant...

Lounge By bec_elias Updated 21 Jan 2010 , 3:38pm by JustToEatCake

bec_elias Posted 25 Nov 2009 , 3:41pm
post #1 of 25

I am so mad at TCF. They have managed to get money from me in so many ways. I've only had an account there for about 4 months. So I just keep trying harder. Well, this time, I deposited my 263 dollar payroll check at 3:20 PM. I go and do errands, pay bills get groceries, bought a new home phone, etc. The next day they took 175 dollars in nonsufficient funds fees. That's over half of my check. All because I deposited my check after the magic number of 3:00. So then of course I have more nsf fees because I thought I had more in my account then I did. I even got 20 in cash when I deposited my check, and the slip showed my balance as including my check. I am a single mom with 3 kids and that money is everything to me. It's nothing less than legal stealing!! ERRR

24 replies
Mike1394 Posted 25 Nov 2009 , 4:10pm
post #2 of 25

Quit floating checks, and use a calculater.

Mike

bec_elias Posted 25 Nov 2009 , 4:20pm
post #3 of 25

If you actually read my post you will see that I did not float a check! I deposited my check and they didn't count it as deposited because it was after 3:00. I did not spend ANYTHING I didn't have in my account.

-K8memphis Posted 25 Nov 2009 , 4:22pm
post #4 of 25

Oh God!!!!! I HATE that for you--I'd get a bank manager and find someone who has the authority to forgive those charges--not that they are agreeing on the front end to forgive them but get the person in your sights who has that authority and pour it on!!!

Tell them you clearly did not know that--oh this is making me weak--it's THANKSGIVING--people are OUT OF WORK--I just can't handle a single Mom getting screwed by stupid overdraft charges --

I mean yeah you have to wait for deposits to post--you gotta get that firmly implanted in your brain going forward but if this is your first time--omg--call call call call call--or go in person--calmly escalate and escalate and keep asking for someone who has the authority--ask for the manager.

Mike--she had the money--the deposit did not post before the transactions were run--the check crossed in the mail type of thing.

One of my favorite sayings--Cash don't bounce.

(((giant hug))) Go get 'em!!!!!

Pookie59 Posted 25 Nov 2009 , 4:34pm
post #5 of 25

Does your bank offer overdraft protection? Otherwise I think I'd cash that paycheck and pay cash for everything.

Adevag Posted 25 Nov 2009 , 5:21pm
post #6 of 25

That's awful. It seems like many banks and companies (like credit card companies) are becoming too greedy for money. Like you said, legally stealing money. We have the same thing happening to us (from a credit card company). Without warning, but not as much money as you said. That is the most ridiculous fee I have ever heard of. Does not make any sense!

cakesbycathy Posted 25 Nov 2009 , 6:19pm
post #7 of 25

Why not switch banks?

saffronica Posted 25 Nov 2009 , 7:19pm
post #8 of 25

I had a similar thing happen a few years back. I deposited a check, waited several days for it to clear, and then wrote checks on the account (big ones, too -- a semester's college tuition, four months' rent...). I deposited the check a few days before 9/11, and since the issuing bank had an office in the World Trade Center, my bank put a hold on everything to do with their bank, and they did not credit the money into my account for THREE WEEKS, causing all my checks to bounce! I was livid -- especially when I found out later that the check had cleared BEFORE 9/11. I went and talked to the manager and they removed all the overdraft fees, etc., but it was still a big pain.

Go talk to the manager. Even if you're technically in the wrong, in cases like this they'll often refund the fees just to keep you as a customer.

Texas_Rose Posted 25 Nov 2009 , 7:25pm
post #9 of 25

My bank doesn't do that...you can put your check in at 6pm and then go straight to the store and use your debit card.

Actually, usually when you don't have any money in the account your debit card doesn't work.

Do you have a news station there that looks into problems for people? For example, the stations here all have reporters you can call if a business rips you off, like if you pay a contractor to fix your house and they take the money and split. If there's a news station there that does those kinds of stories, you should call them and tell them what happened to you. Mention the fact that it showed the check as being added to your balance on your reciept, mention the fact that you are a single mom of three...let them go ask the bank about it and I bet you'll get your money back.

After this, cash is the way to go. We had really bad problems with identity theft and for a couple years after that, we would cash the paychecks, put just enough in to pay the bills that had to be paid online, and then use the rest for the bills we could pay locally, gas, groceries, etc...Unless you are trying to buy a home, in which case they want you to have been using your bank account for a year, there's no reason to let a bank hold onto your money. You'd be amazed how much less you spend on unnecessary things when you're actually having to part with real cash...at least that's how we were.

sherrycanary62 Posted 25 Nov 2009 , 7:37pm
post #10 of 25

I always go into the bank cash my check then deposit the cash. My bank posts cash deposits the minute the teller hits enter on the transaction, no matter what time of day you deposit.

Does your job offer direct deposit? that may be an option.

I think the 3:00pm rule is pretty standard in banking with some exceptions I am sure

Sorry this happened, talking to a bank manager may help, its worth a shot.

bec_elias Posted 25 Nov 2009 , 9:01pm
post #11 of 25

Well, I went into the bank and just got back. I went around and around with the manager and showed her the bank slip. I asked her how anybody could know that it wasn't available when the available balance showed it was. I cried, my kids (3,5, and 7 years old) got restless, it was quite a scene. They finally gave back 70 in overdraft fees which is at least enough for Thanksgiving so I'll have to take it for now. OY..she couldn't even tell me how SHE would have known it wasn't available. I'm starting to think you are all right. Maybe I will just start putting my money in my sock drawer where I know it's safe. Why even use a bank?

TheCakerator Posted 25 Nov 2009 , 9:59pm
post #12 of 25

Im sorry this happened to you. When my dh goes to put his check in the bank on friday mornings he always tells them to POST RIGHT AWAY. And he stands there while they post and he asks for a deposit slip with the total amount deposited.

Texas_Rose Posted 25 Nov 2009 , 10:27pm
post #13 of 25

You need to get a letter from the bank manager saying that they made an error and have credited the fees back to you, in case it affects your credit. Then call the businesses where you made the charges, tell them that your bank made an error and ask if they can do anything about what they charged you. Tell them you have a letter from the bank manager stating that an error was made on the account (banks never give back fees they've charged unless they've made an error, so returing part of your money is an admission of their mistake). If they won't do anything about the fees, it's time to go back to the bank and tell them you shouldn't be paying for their mistake. It's okay to get angry with them...if you work somewhere with customers, think aobut how your customers act when they complain about something, and borrow some of their attitude.

Taking your kids in and crying was actually a pretty good strategy...sometimes it helps employees of dishonest businesses to see how people are actually affected by their business's policies.

-K8memphis Posted 25 Nov 2009 , 11:54pm
post #14 of 25
Quote:
Originally Posted by bec_elias

Well, I went into the bank and just got back. I went around and around with the manager and showed her the bank slip. I asked her how anybody could know that it wasn't available when the available balance showed it was. I cried, my kids (3,5, and 7 years old) got restless, it was quite a scene. They finally gave back 70 in overdraft fees which is at least enough for Thanksgiving so I'll have to take it for now. OY..she couldn't even tell me how SHE would have known it wasn't available. I'm starting to think you are all right. Maybe I will just start putting my money in my sock drawer where I know it's safe. Why even use a bank?




She's got a boss--I shoulda mentioned that--that's always a killer line--what's your boss's name? But you gotta say it professional and nice not mean. So she's got a boss and you've got leverage because she did forgive part of it--go for the gold --go over her head --you got nothing to loose. If $70 of it was wrong--then the the other $105 is wrong also. Keep your snowball rolling after the holiday.

I'm proud of you for trying and seventy bucks is seventy bucks huh, yay!!!

JanH Posted 26 Nov 2009 , 4:19am
post #15 of 25
Quote:
Originally Posted by bec_elias

If you actually read my post you will see that I did not float a check! I deposited my check and they didn't count it as deposited because it was after 3:00. I did not spend ANYTHING I didn't have in my account.




Actually, you need to read TCF's deposit policies more closely.

Checks deposited after 3 pm to your account will not be credited to your account until the next day.

And that's only if the checks are on a local bank, out of area/state checks can take 3-5 days to process from date of deposit. Technically, the funds are deposited in your account, but until your account is credited - you can't write checks against the new deposits....

Arguing the semantics isn't going to get TCF to change their rules; you'll just wind doing the same thing again and owing more in overdraft fees.

You're extremely fortunate that you were able to get the overdraft fees reduced -their bank, their rules. You might be more comfortable banking at a facility that doesn't require overdraft protection so that you'd just be hit with non-sufficient fund fees.

cabecakes Posted 26 Nov 2009 , 6:52pm
post #16 of 25

Take your slip to the bank manager showing that it showed sufficient funds before you made the purchases. I would demand they remove the non-sufficient fund charges or I would take what was left of my check and go to another bank.

Luby Posted 28 Nov 2009 , 2:30pm
post #17 of 25

I'm sorry but I have to disagree with you - if the bank's policy states the money won't be credited to your account until the next day if you deposit it after 3:00 it is NOT stealing if they charge you NSF fees.

-K8memphis Posted 28 Nov 2009 , 3:06pm
post #18 of 25
Quote:
Originally Posted by Luby

I'm sorry but I have to disagree with you - if the bank's policy states the money won't be credited to your account until the next day if you deposit it after 3:00 it is NOT stealing if they charge you NSF fees.




True. But if it's the first time this nefarious double standard fact of life comes home to roost, the bank could and should forgive it all. They know full well the money is going to filter into the account in a few minutes.

She just started her account--she should have been freshly advised of bank policies and procedures.

If both deposit's and withdrawals processed at the same speed she'd be fine. I do not think she should be dinged for the bank's timing issue for her what I assume to be first time. Won't work a second time though.

bec_elias Posted 28 Nov 2009 , 4:16pm
post #19 of 25

I know, a policy is a policy. While I think their policies set people up to pay astronomical nsf fees, it IS the customers responsibility to know. I checked up on TCF and there is a lot of complaints against them. There is also a bill in congress that would prevent unfair nsf fees. I hope it goes through. If I had put that check in the bank at 2:50 instead of 3:20 it would have gone through. Plus I got 20 in cash, and my available balance included my check. It's a local county government check (I work at a homeless shelter) so I always figured it cleared right away because the other times I have used it the day I deposited it. In this case I DO think it's legal stealing. The problem of high nsf fees don't apply unless you are like me and you live check to check. For instance the last time I got an nsf from them, I checked my my account at an atm because I knew I was low and didn't want to go over. I didn't know that you got charged to check the balance. Well, you do, at 4 bucks a pop. So I checked my balance and there went my last two dollars, plus an overdraft at 2 dollars. And then a 35 dollar nsf fee. So now I'm 37 in the hole and it's 4 days before payday. My fault, lesson learned, I don't check my balance at an atm anymore. There isn't much else to do but learn from it. But it gets frustrating. I can't ever seem to get ahead. I make 1000 a month and 550 of it goes to rent. I only have a home phone and internet (I take classes online so that has to stay) plus utilities to pay and that's pretty much the rest of it, with a little left for groceries and gas.

Anyway, I found a new bank, and it's a credit union so I can't wait!! I asked her tons of questions and told her about TCF and she has heard many complaints about them. For starters, a check card won't even go through if there isn't money available. I would just like to get to the point where I can save even 25 dollars a month for a safety net and I think I can at this bank. I wish I had done it sooner though. I'm too scared to start direct deposit right before christmas in case something gets delayed in the switching.

Thanks for all your ideas and support and listening to my ramblings icon_wink.gif

indydebi Posted 28 Nov 2009 , 5:13pm
post #20 of 25
Quote:
Originally Posted by bec_elias

I didn't know that you got charged to check the balance. Well, you do, at 4 bucks a pop.



Wow, that's a new one on me, too! Was this at a foreign ATM (meaning, an ATM belonging to another bank, not the bank you have your account with? Hubby was in banking for 25 years, so I've kinda picked up on some of the terminology. icon_redface.gif )? I can KINDA see a foreign bank charging you to use their equipment, but it basically costs nothing to do a balance check ..... hello? it's the electronic age, here!

After deregulation of the banking industry in the 80's, banking changed from "banking" to "sales". The emphasis was on "fee income" ..... hubby tells me most of the meetings he was in during that time period was "how can we generate more fee income?" and they'd search for ways to charge people add'l fees .... overdraft, access, loan originating fees, etc.

That's pretty much why hubby got out of banking. He just couldn't take it anymore.

Doug Posted 28 Nov 2009 , 5:56pm
post #21 of 25
Quote:
Originally Posted by indydebi

Quote:
Originally Posted by bec_elias

I didn't know that you got charged to check the balance. Well, you do, at 4 bucks a pop.


Wow, that's a new one on me, too! Was this at a foreign ATM (meaning, an ATM belonging to another bank, not the bank you have your account with? Hubby was in banking for 25 years, so I've kinda picked up on some of the terminology. icon_redface.gif )? I can KINDA see a foreign bank charging you to use their equipment, but it basically costs nothing to do a balance check ..... hello? it's the electronic age, here!

After deregulation of the banking industry in the 80's, banking changed from "banking" to "sales". The emphasis was on "fee income" ..... hubby tells me most of the meetings he was in during that time period was "how can we generate more fee income?" and they'd search for ways to charge people add'l fees .... overdraft, access, loan originating fees, etc.

That's pretty much why hubby got out of banking. He just couldn't take it anymore.




Potter won, Bailey lost.

so sad

newbysara Posted 21 Jan 2010 , 1:56am
post #22 of 25

Hey, i'm glad to hear you got your fees back! We went through the same thing with our bank SEVERAL times.. we always got our fees back but, not before going in and causing a scene.. ridiculous! We now use a different bank.

Deb_ Posted 21 Jan 2010 , 2:43am
post #23 of 25

The first thing you should do if it's an option is set up Direct Deposit through your company. Your paycheck will be deposited sometimes the night before payday and your funds are available immediately.

It's really impossible to have to live paycheck to paycheck and I feel for anyone that is doing that.

There are new banking regulations going into effect this year per Obama. Banks will no longer be able to allow a debit card sale to go through if there are not sufficient funds available at the time of sale.

Right now, even if there is a negative balance some banks allow the sale to go through and they then charge the account holder anywhere from $30 to $35 for each transaction.

My DH is a VP at Bank of America and it's disgusting how many millions of dollars this bank has made off of people just like you.

Fortunately, the President worked on this new legislation and the new regulations have been approved. The banks have a certain amount of time (can't remember how much) to implement these policies.

So hopefully, this won't happen to you again.

P.S. The reason I know about these sales being approved even when there isn't enough money to cover them is that my DD went through this about 2 yrs ago. She accumulated over $900 of insufficient funds charges.....yea it was UGLY. She'd deposit her check and then go shopping but her check hadn't cleared yet, so they'd approve the sales and then charge her $35 for every one of them.

She bought an item at CVS for .89 and it ended up costing her $35.89icon_confused.gif

It took her over a year to pay us back for getting her out of the hole, but I figured if we didn't make her pay us back, she'd never learn how to manage money.

TexasSugar Posted 21 Jan 2010 , 2:55pm
post #24 of 25
Quote:
Originally Posted by bec_elias

For starters, a check card won't even go through if there isn't money available.




One thing to keep in mind is that when you use a debit card the money isn't switched over from your account into yours at that very moment. I know when I go shopping then check my account the next day I can still have "pending" out beside several charges.

So if you had $200 left and you spend $100 at one store then turn around and spent $50 at another store, then go to a third store and spend $75. There is a chance your card would still work for the $75 amount because the other $150 may have not have been drafted out of the account yet. Plus they aren't always drafted out of your account in the order that they are done in. So the $50 and $75 could have gone through first and the $100 bouce.

I know years ago I had a bank account where if you went below $300 you were charged $75. It never made sense to me because if I don't have enough money in the account how is taking more out going to help? And one time that $75 charge did put me in the negative. (This was right out of HS - so atleast 10 years ago.)

After that point I went to cash for years. What I didnt have I couldnt spend, so I didnt have to worry about over drafts and all that. A few years ago the store I work for went to Direct Deposit and I had to get a bank account. I was sure to check to make sure they didnt have a fee if you didnt have the magic number in the account.

I pay $5 a month for the ability to check my account online at any time I want. Which is nice, since I can see how much money is in there and when my deposit has really gone through. To my the $5 is well worth it.

JustToEatCake Posted 21 Jan 2010 , 3:38pm
post #25 of 25

It's TOTALLY ABSURD for them to charge you to find out how much of YOUR money they have. Amazing. Yes switch to a credit union, for the most part it's much better.

The 3:00 rule I believe was implemented when things were posted by hand, before computers and now they use it so they can get those people who don't know and have to pay the fees. Banks are like used car salesmen...they'll rip you off at every turn if they can.

I haven't had a NSF in 30 years (stolen purse-miscalcuation back in the day before computers) but when I moved 4 years ago and wrote my first check to my apt I got notice that it was returned...they showed me the check that was returned, I knew the money was in there, and not just recently deposited so I went to the bank and guess what? They had NO RECORD of that check. No record of the apt depositing it and no record of it be returned (no fees charged by them)...It was just like that check didn't exist to them even though THEY returned it (had one of their stamps on the check). So I got a letter and my apt mgr removed the fees. The apt mgr was understanding and she even said "when we get returned checks they usually have been stamped twice and I could only see one on your check". I'm not sure what the different stamps are but the reason I am writing this is that I felt, before this, that the banks didn't make many mistakes...now I know that's not true!

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