I have been a member of TCF Bank for only a few months. Their policy on handling deposits is that if it is made before 2pm that it is available the same day, or after 2pm available the following day. If they are to put any type of hold on your money they are supposed to credit $100 of it. For one, my money was not immediately put on hold. Secondly, the check was shown as "posted" via online banking and also showed up on my ATM balance inquiry. They did all but follow their policy in regards to my business account though.
Out of nowhere I was hit with more than $600 in overdraft fees. I called up the 800-TCF-Bank and was put on the phone with a supervisor within less than a couple minutes. First I was told that I did not deposit the check before 2pm, at which point I offered to fax a copy of my deposit receipt which clearly showed I did in fact make the deposit before 2pm. After his first attempt to defraud me was exposed, the supervisor explained to me that my checks were put on hold by the fraud department because they could not be verified.
I could understand this point had I not deposited checks from webmaster checks (one of the biggest check processors for online webmasters there is) several times before without any problem whatsoever. She explained to me that sometimes Bank of America does not verify checks for other banks and even went into detail in her argument. I would have believed her had the lady at the branch not told me that her corporate office directly lied to me, and that the other bank would not have even had a chance to see the check at this point.
In fact she changed the story to blame that ATM deposits take an extra few days to process. Funny, it doesn't say ATM transactions take longer in the TOS and even on the ATM itself they have the same funds availability policy shown everywhere directly on the ATM itself. Even still, why would the check show up as posted via online banking and through the ATM? Better yet, why was my check not put on "hold" until 2 days later after more than a hundred dollars in petty transactions were made?
The problem is that they allowed me to deposit a check, made funds available in accordance with their policy to my business check card, then out of nowhere 2 days later decide to after the fact put my funds on hold for the mere purpose of taking a $35 fee out on every pending transaction I had (which were all transactions made the night of my deposit, and posted the following day after my deposit). They then argued with me that I should not have purchased anything with my business check card despite depositing money in accordance with their funds availability policy.
The teller explained to me that I should wait to see if they put a hold on my money or not despite the fact that they have never done this before, and even still they are knowingly refusing to honor their $100 credit policy which states that if funds are to be put on hold then $100 credit is to be given out of the deposit. Basically they told me that after making a deposit to ignore their funds availability policy, what they show on online banking, or what they show on any sort of balance.
Basically, they told me that I should never spend money considering the hold was placed 2 business days after the check was deposited (after tons of petty transactions were made that would have caused the account to overdraft anyway if the check was on hold - therefore should have been declined). Not one transaction which was created the night after my deposit was for more than $20. In fact more than half of the transactions which subsequently were given $35 fees were less than $5. Had the $100 credit been issued in accordance with their policy or the funds been available in accordance with their funds availability policy none of this would have happened.
Please help me to expose the unlawful things at least one bank has been doing to try to take advantage of its clients during the recession. Several other banks have settled class action lawsuits and other civil suits for purposely manipulating its transactions the same way this bank has now done to me. I know I am not the only person who is having problems because I have heard more than enough horror stories about TCF Bank before experiencing first hand I put convenience of their banking hours ahead of rumors and previous stories on ripoffreport - I wish I had listened to the rumors or researched this bank for even 30 seconds before opening an account.
I have had to deal with nothing but problems and lies. Every time I have had even small problems with TCF the response you get depends on the person. If you call up 3 times in a row and speak to 3 different people then you will get 3 different fabricated stories guaranteed.
I was very lucky to have printed copies of my online banking that showed the check being deposited, a deposit slip showing the deposit was made before 2, and a copy of an ATM balance inquiry before they pulled this stunt. The bank manager put the money back in my account when he realized they were out of lies and excuses and that I had them by the balls.
I still hope someone files a class action lawsuit against TCF Bank. I don't even want some of the money, I just think that they need to be taken off their pedestal and taught that even banks can't get away with fraud.