I recently decided to change banks. I went from a credit union to TFC bank. I wrote a check transferring all of my funds from my credit union to TFC bank. I was told by the TFC bank manager that it would be quicker if I moved the money into a checking account vs a savings account. He stated that in a checking account it would only take 5 to 7 days to get access to the money, so I did... 15 days later I went to make a withdrawal and was quickly advised by the teller that I could not access my account since the check had not yet cleared. I had written a check for $24,599.00. I could not believe the check had not yet cleared so I went to the ATM to look at my old account and found that it had a 0 balance. I then contacted the credit union and was advised that the check had in fact cleared on 8/22/08 which at the time was 5 days before! I then accessed my new account with TFC and found that I had a current balance of $24,599.00 so I withdrew $300.00. I then told the teller that I was able to get money from my TCF account via the ATM... She then advised me that I would most likely be charged over charge because my account had been placed on hold until 9/03/08!! I went ballistic! How dare they place my account on hold when the check had already cleared the bank! I then contacted the corporate office and found they had placed the account on hold the very same day the check cleared the bank!!! I insisted on talking to the manager in charge of the corporate office and was advised that the manager would not speak with me! I spoke to the manager in charge of the branch at the Jewel Osco store on Eola Rd and he advised me he would ensure access the very next day! I went back the very next day which was a Sunday and he was not there! I advised the teller that I was in the process of talking to an attorney about suing them for this behavior! TCF was holding my money hostage! The manager was called and he did come in and was finally able to give me access to my money so I quickly closed the account! I am now a customer at the Harris bank at which I was advised that TCF has a habit of doing this to it's customers! A couple of days after I closed my TCF bank account I get a letter telling me that my account was placed on hold because of the amount of the check... The fact is they placed it on hold the very day the check cleared the bank!!! Then they had the nerve to tell me that the acronym (TCF) means The Customer First! I think not! Their acronym should be The Bank First!
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