• Report: #828597

Complaint Review: TCF Bank

Thank You

Read how Ripoff Report saves consumers millions.

  • Submitted: Wed, January 25, 2012
  • Updated: Wed, January 25, 2012

  • Reported By: Lee — Sterling Heights Michigan United States of America
TCF Bank
Twin Cities, Minnesota United States of America

TCF Bank Unfair and Excessive Fees On Rep Payee Checking For Disabled Twin Cities, Minnesota

*Consumer Comment: Illegal?

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

TCF Bank charges unfair fees for Representative Payee Checking Accounts. These accounts are generally used by persons on Social Security Disability and can't afford fees. I was charged a $9.95 fee on this account. I had no clue they were going to do this. I had this account when TCF used to be Great Lakes Bank in Michigan. That tells you how long I had this account for my son who is now an adult. The requirements to not have these fees charged are that you must have 15 qualifying withdrawals per month and keep a minimum of $100 in the account. I save very little in this account because it is used for my child. The requirements they are asking are ludicrous. These are two-party checks that most retailers and merchants will not accept. The kind of activity they are looking for out of these customers are not usually done.You just can't frivously spend money on these accounts.  A Representative Payee Account is where the disabled person has a signer on the account such as a Guardian. In my case my child cannot properly sign a check. 

Unfortunately, by the time I knew of these fees which of course is charged daily when the account is below $100 is insufferable. At this time his account is seriously overdrawned. Most of his next Social Security Check will be taken to cover the fees. A corporation such TCF Bank should not be allowed to get away with these fees. I thought the banking industry was heavily regulated. I feel that serious legal charges should be filed against this corporation because of their unfair business practices.



This report was posted on Ripoff Report on 01/25/2012 04:49 PM and is a permanent record located here: http://www.ripoffreport.com/r/TCF-Bank/Twin-Cities-Minnesota-/TCF-Bank-Unfair-and-Excessive-Fees-On-Rep-Payee-Checking-For-Disabled-Twin-Cities-Minnes-828597. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on TCF Bank

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

Illegal?

AUTHOR: Flynrider - (USA)

   Thanks to the last round of debit card reform legislation, most checking accounts are no longer free.  If you are old enough you may remember that, before debit cards,  all checking accounts carried a fee if balances were below a given amount.  I used to pay $5/mo. back in the early 80s.  Adjusted for inflation, that translates to around $11.15/mo. today.   Sounds about right.

   The obvious suggestion for your problem would be to move your account to a bank that won't charge a fee, or ever change its account terms.    Good luck with that.  

 "  I thought the banking industry was heavily regulated.  "

   It is heavily regulated.  That's why checking accounts are no longer free.  Be sure to thank your congressional representatives next time you see them.

"  I feel that serious legal charges should be filed against this corporation because of their unfair business practices. "

  That sounds pretty general.   Care to specify the "serious legal charges"?   So far, what you've complained about is not only legal, it is common practice in the banking industry. 

Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?

Advertisers above have met our
strict standards for business conduct.



Ripoff Report Legal Directory