• Report: #806371

Complaint Review: tcf bank

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  • Submitted: Wed, December 07, 2011
  • Updated: Thu, December 08, 2011

  • Reported By: george9008 — demotte Indiana United States of America
tcf bank
crown point, Indiana United States of America

tcf bank tcf will not cash a check from their own bank? Scam! crown point, Indiana

*Consumer Comment: Clarification

*Author of original report: update

*Consumer Comment: There is something missing

*General Comment: Rules

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I went to TCF Bank in a Jewel in Crown Point Indiana tonight to cash a check given to me from a company that I got a loan from. The amount of the check is for $2000.00. It is a check that is drawn from TCF Bank. The owner of the company I got the loan from has the account for this check at the same place I was there to cash it from. I was rudely told by two bank tellers there that they could not cash the check.

Curiously I asked why not? The reason is that none of the banks can cash a check over $250.00. Okay so mine is drawn from your bank and is over that. Well you will have to open an account with us in order to deposit the check. Is that even legal? So I left and called the corporate number for the bank. I was told because Indiana and Illinois has so many fraudulent checks being cashed that I would have to fly to another state to cash the check at another branch of theirs. Sounds like a great deal to me huh?!

The reason I didnt to cash it at my bank is simple, first I do not have the $2000.00 in my checking account to cash the check because the banks require that you can cover the amount of the check you are cashing or they will hold it for up to 15 days before they release the funds. That was my second reason.

I cannot understand how it is legal to not cash a check that your bank issued the account it is written from. Oh I was told that I could go to a check cashing place and pay the fee to have it cahsed though1 Thank you TCF Bank I will never ever do business with you and will remind all that I come into contact with about this instance with your bank from the rude employees at the local branch to the 800 number clerk that i discussed this with. I am also going to contact the federal agencies that oversee you and whatever media will tell my story.

This report was posted on Ripoff Report on 12/07/2011 05:58 PM and is a permanent record located here: http://www.ripoffreport.com/r/tcf-bank/crown-point-Indiana-46307/tcf-bank-tcf-will-not-cash-a-check-from-their-own-bank-Scam-crown-point-Indiana-806371. 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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REBUTTALS & REPLIES:
1Author 3Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Clarification

AUTHOR: Robert - (U.S.A.)

There should be a law that a bank that gets a check drawn from their own bank can check the account and the check for fraud
- Well there isn't.  If you really think this perhaps you should push your representatives to create this law. 

Terrible, do you work for them telling me something is missing?
- Perhaps I should have been clearer.  The main point was that there is no law or regulation that requires them to cash the check.  I listed POSSIBLE reasons they would deny a check.  It by no means is all the reasons, but in the end their reason was because of all of the fraud they have had.

It is sad, annoying and it is fraudulent on the government and the bank to let it go this far that I am forced to wait 10 days for a hold if I cash it at my own bank so they can verify that the check is real and good, or pay at a check cashing station
- I will agree with you on 2 of those 3 points.  It is sad that there is that much fraud that they had to implement this policy, but your anger should be directed at the people who were defrauding them.  It is annoying because you have to wait for the funds or pay a fee to another company.  But it is NOT fraudulent.

I will also say that Bank of America is holding EVERY check you deposit that is more than $300 for up to 10 days there is more to this story than you are saying.  Because ALL banks must follow Regulation CC(Expedited Funds Availability Act), this is the regulation as to when a bank must make the funds available.  Again I am just telling you the POSSIBLE reasons, but really the main reasons they should be doing this is if they suspect fraud or you have a history of overdrafts on your account.  I would suggest you go and print out Regulation CC take a copy to your bank, attempt to deposit the check and if they tell you there is going to be a hold on it, ask them the specific reason why.  Then see if Reg CC allows them to do that.

Oh and by the way I do not work for this or any other bank.
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#2 Author of original report

update

AUTHOR: george9008 - (United States of America)

I did have my drivers license, we didnt even get that far. I handed the teller the check, she looked at it and saw the amount, called another teller and they both rudely told me that any check over $250 cannot be cashed unless I have an account with them, or open one and deposit the check or go to my own bank or cash it at a check cashing place. I wont go to my bank, Bank of America because they will hold the check for up to 10 days, this happens to me whenever I cash a non direct deposit check there over 300 dollars, i will not open an account with TFC just because they have done this and I refuse to have to pay up to $60 to cash the check at a check cashing place.

 The teller did run the check and said it was theirs and legitimate though. There should be a law that a bank that gets a check drawn from their own bank can check the account and the check for fraud, as this is the year 2011( they can use some of the TARP money they got from my taxes)they have safeguards they just want you to open an account or leave and not cash it so they have to do the footwork on the check. Terrible, do you work for them telling me something is missing? I was there. And I have no fraud alerts for any bounced checks or fraudulent stuff either, but it never got as far as to check even my identification.

It is sad, annoying and it is fraudulent on the government and the bank to let it go this far that I am forced to wait 10 days for a hold if I cash it at my own bank so they can verify that the check is real and good, or pay at a check cashing station. Also, The business i got the check from was called by me to let them know the situation and they said that it happens all the time and the are looking to switch banks because the national company I got the check from has funds to pay out the check. Thank you
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#3 Consumer Comment

There is something missing

AUTHOR: Robert - (U.S.A.)

There should be no reason why they should refuse to cash a check unless....

- There is not enough funds in the account to cover the check.  They will not disclose the balance of the account to you, instead they will generally just tell you there is not sufficient funds.

- You did not have any ID.  Most banks now require at least one Government issued ID and they will also take your thumbprint.  If you don't have sufficient ID they may not allow you to cash it.

- They suspect fraud.  This however is easily combated by them calling the account holder and getting verification.

- There is something you left out of this report.'

Unfortunately there is no law or regulation that says a bank HAS to cash a check for a Non-Customer, even if that check was drawn on the same bank.  So I doubt you will get any Federal Agencies to take much notice. 

So you basically have a few choices
- Go back to this person and have them give you the cash
- Deposit it in your bank and wait through the hold period
- Go to a Check Cashing place and cash it through them

Just remember that if you do go to a Check Cashing place and the check does bounce YOU are going to be on the hook to pay back the money.  So you better be very careful before you decide how to cash the check.
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#4 General Comment

Rules

AUTHOR: Susan - (USA)

Quoting from the US Treasury website:

"Why doesn't a national bank have to cash a check that is drawn on them?

There is no federal law or regulation that requires national banks to cash checks for noncustomers. Most banks have policies that allow check cashing services only for customers who have an account with them in order to protect both themselves and their customers from forgeries.

Once a national bank cashes a check that has been forged by a noncustomer, they may lose money if they cannot collect from the person who cashed the check.

Also, if a national bank agrees to cash a check for a noncustomer, it may legally charge the presenter a fee. "
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