- Report: #424635
Report - Rebuttal - Arbitrate
Complaint Review: TCF Bank
TCF Bank200 Lake Street East Wayzata, Minnesota U.S.A.
TCF Bank MANIPULATING Posting of Transactions resulting in numerous OVERDRAFT FEES Wayzata Minnesota
*Consumer Comment: No, you're not addressing the point
*Consumer Suggestion: HELP!!
*Author of original report: Thanks for your suggestion-Edgeman
*Consumer Comment: No, he understands perfectly.
*Consumer Comment: I understand where you're coming from...
*Author of original report: Edgeman- You don't understand my point.
*Consumer Comment: You were right the first time...
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On Feb. 12 my account balance was $205.14. I made four purchases totaling $45.23 bringing my account balance to $159.91. The same night I checked my account balance online and noticed an ACH transaction pending for $200 after the purchases that I made earlier that day. So I recorded the ACH transaction in my register and brought down my balance to -$40.09. I subtracted a $35 NSF fee amount because that's what the bank charges for overdrafing the account. My final account balnace was -$75.09.
Yesterday, Feb. 15, 2009 I went to a TCF Bank and deposited $160.00 to my acoount to make it current and have a balance of $84.91. However, when I got the deposit receipt I noticed that it stated a -$20.09 balance. I was confused about what was going on. As soon as I got home I checked my account online and noticed that I had been charged $140.00 of NSF fees for the transactions that I had made on Feb. 12,2009 before the actual transaction of $200 that had made my account negative.
I called TCF Bank and spoke to a man named Sebastian who told me that the reason why I had been charged the NSF fees for the other transacions even though I did have money in the account at the time was because TCF Bank posts the transactions from greatest to smallest, even though they weren't made in that order. He said the reason why the bank did this was because they want to pay off the more "SIGNIFICANT" amounts first like car payments, mortgage payments, etc., so it would be less inconvenient for the customer.
But to me, this method IS inconvinient and they are not being fair or ethical. They charge the customer various NSF fees by manipulating the order the transactions post. I know Bank of America got in trouble for the same thing and TCF bank should suffer the same consequences as BOA.
This report was posted on Ripoff Report on 02/16/2009 10:55 AM and is a permanent record located here: http://www.ripoffreport.com/r/TCF-Bank/Wayzata-Minnesota-55391/TCF-Bank-MANIPULATING-Posting-of-Transactions-resulting-in-numerous-OVERDRAFT-FEES-Wayzata-424635. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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