I recently was the victim of a gouging by TCF Bank in Minneapolis, MN. I want to tell everyone to be aware of this and to document their experience on this website.
Most of you are aware of TCF and their extra charges for Non TCF ATM Fees.
This is stated in their contract that you sign when you apply for the ATM card which is all fine. They don't tell you though how much they charge. Anytime you use the card at a different machine other than TCF, TCF will charge you anywhere from 1.50-6.50 to use that machine. There is no where documented what charges apply to the use of what machines, i.E., Cirrus, Plus, or private less popular ones.
I recently went to PA on Business and came home. 2 weeks later I got my statement and it was already too late. HERE are the facts. I had only 65.00 dollars in my account when I return from Phillie. I wrote 7 small checks. At the end of the statement cycle they take a lump sum for the ATM fees so they deduct 70 dollars in Non-ATM fees out which overdrew my account by about 5.00. Then, They charged me 31.00 for being over drawn. So I am over drawn 36.00 bucks. Now the checks come in. All small one totally about 50.00. That brings my account to -86.00 and then 155.00 in late fees. The total now stand at
-$231.00.
I am unaware of the overdrafts but know by experience that I am getting close thinking I still have money in my account. I deposit 150.00 in my account thinking that I have this to spend. The balance is now at -$81.00 and write $100 more checks.
They bounced and my total is now -$336.00, The next day 5 more checks ($35.00 worth) coming in. I think I have $50 left to spend and that these checks are covered. NOT! Checks plus ISF charges = -$526.00. WHEW! It's payday!!!
I deposit my paycheck for $1000 is deposit. Unbenounce to me my balance is only 474.00 and I think I have over 1,000 dollars to write for bills. $800 worth of checks are written and thinking I am still above water and write out $800 dollars. Long story short damages = -326.00 (balance) 465.00 in bank fees.
Now the interesting part comes... My first notice from TCF 4 days after the first check bounced. I soon start to dread the mailman... Day after day. More fees and More fees... When will it all stop.!!! 12 days after I finally figure out what started this whole thing when the statement finally came... The NON-ATM FEES!!!
They deduct a $70 lump sum of ATM Fees instead of deducting them as they came in which makes more sense. Grand Total... TCF made 620.00 off that $70 charge which I didnt know was going to be. There goes Christmas. I Wrote TCF and was able to recover a few of the overdraft fees but it did significant damage to my financial situation.
Some points I would like to make.
If the statement ends on the 23rd of one month, Why does it take them 12 days to mail it out.
Why does it take them 4 days to send you out an overdraft notice? By the time you get your first notice you could possible have 620.00 worth of overdrafts before you find out you are overdrawn. Why is TCF taking out a lump sum for Non - ATM fees instead of as they come in during the month!?
Why can't TCF put a message on the statement saying that "In 21 days a sum of $70 will be taken from your account and you will need to adjust your register by this date." At least this way you would be able to have an idea of what the hell to expect.
I have learned a very expensive lesson an that is to automatically deduct an extra 5 dollars off everytime I use an ATM. This is a big trap for alot of people. I dread the people who arent as organized with their check book. TCF is preying and raping their unsuspecting customers. They can literally make millions each month by these questionable practices.
Since this episode I have involved the attorney general's office and the Dept of Commerce... Do not hestitate to utilize these individual agencies. And by all means!!! Document everything you went through here and on paper! They need to hear this kind of banking behavior so legislation can change and outlaw this scandal. I pitting the person whose entire Welfare check has to go to TCF to cover their account because of something that they were unware of.
I am starting to get responses from these agencies and now have hired an attorney. I will update this information as I find out the fate of this incident. I definitely have some legal action to take.
I need to hear about your experiences for my case. I cant be alone out there!
Thanks for listening!
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