TCF Bank: The worst bank on Earth
First, the great irony. TCF is supposed to stand for: The Customer First.
So, how did the bank chain that operates in Minnesota, Illinois, Michigan, Wisconsin, Colorado, and Indiana -- and soon, I've learned, Arizona -- "put me first" in the near two years I banked with them?
When we signed up, it was because they were close to our home -- AND they had the most aggressive savings rates in the area. Ah, but now the catch. TCF sucks you in with a great rate. But after two or three months, the bank would drop the rate on our savings account to a mere fraction of a percent (at one point, we were dropped to 0.1%).
So, I would pay a visit to the bank, upon which time they would inform me of a "new" savings account I could move into that had a better rate. But guess what would happen would I would move our money there? If just a few short months, it'd happen again.
The password is: Weasels.
The last straw was when I went in to withdraw a few hundred dollars, and I was informed I would have to pay a $4 cashier's check fee to do so.
When I went to close my account a couple weeks later, the branch manager -- who like the majority of the bank's employees, was, incredibly nice -- expressed his own frustrations with his bank's slimy practices. Another former TCF employee, who now works at our new bank, told me, "It usually takes about two years, but eventually people figure out the games they play."
This former employee also shared that the bank's fee-raising, interest-lowering practices in Colorado were an effort to fund its new locations in Arizona. Very nice.
Arizonans, here's my advise. TCF more accurately stands for: The Crooked Financiers. Run far. Run fast. But most of all, run away from TCF.