Based in Minnesota, TCF is a regional bank with a wide range of products and a small network of branches and ATMs. Though convenient if you live in one of the states TCF serves — Arizona, Colorado, Illinois, Michigan, Minnesota, South Dakota and Wisconsin — rates are pretty low and fees are expensive.
The bottom line:
- Savings and certificates of deposit have low rates
- Overdrafting will put a sizable dent in your wallet
- A small network of branches and ATMs
|Certificates of deposit (CDs)|
» MORE: NerdWallet’s best national banks
3.5 / 5.0
TCF’s free checking account is best for customers who won’t stray from TCF Bank ATM and branch locations. You won’t earn any interest on your account, but you won’t have to pay monthly maintenance fees or keep a minimum balance either.
» MORE: Best checking accounts
3.0 / 5.0
TCF’s Power Savings account comes with an interest rate that falls below the national average. Some savings products at this bank can offer slightly higher rates, but they don’t come close to the rates of 1% or higher that some online-only banks and credit unions offer.
» MORE: NerdWallet’s best savings accounts
Certificates of deposit
2.5 / 5.0
TCF Bank offers a variety of fixed terms. Explore other options from an online-only bank or a credit union if you’re hunting for the best rates.
3.5 / 5.0
TCF’s website is clean and modern, though fees and interest rates can be hard to locate. Though its mobile apps on both iOS and Android platforms receive low ratings, they will let you transfer money between TCF accounts and pay bills.
Customer service is available by phone from 6 a.m. to 10 p.m. CT on weekdays and 9 a.m. to 6 p.m. on weekends, and Twitter. You can also find support in one of its 331 branches, located in Arizona, Colorado, Illinois, Michigan, Minnesota, South Dakota and Wisconsin.
2.0 / 5.0
TCF Bank fees can add up quickly. The bank can charge a $37 overdraft fee, up to five times in one day.
Usually you can avoid this fee with overdraft transfers, which are significantly cheaper, but it’ll still cost you $10 each time. An account at this bank will require extra padding that goes beyond the minimum balance requirement to avoid these fees.
Many options that won’t grow your money
Updated May 12, 2017.
NerdWallet’s overall rating is a weighted average of each category: checking, savings, CDs, customer experience and overdraft fees. Factors we consider, depending on the category, include rates and fees, ATM and branch access, account features and limits, user-facing tech and customer service. Several Nerds contribute to each financial institution’s ratings to ensure consistency and accuracy.
What the ratings mean:
— Among the very best
— Very good; only minor caveats for most customers
— Good; issues that might make a difference to some customers
— Fair; make sure strengths and weaknesses are a good match for you
— Poor; proceed with great caution
(or below) — Best to avoid