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TCF Bank Review: Checking, Savings and CDs

January 9, 2018
Banking, Banks & Credit Unions
TCF Bank Review: Checking and Savings
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NerdWallet rating: 3.0/5.0

Where TCF Bank shines:

  • No monthly fees on its basic checking account
  • Several savings accounts to choose from

Where TCF Bank falls short:

  • Low interest rates on savings accounts and certificates of deposit
  • Steep $37 overdraft fee charged up to five times per day on most checking accounts
  • Information such as fees and rates can be hard to find on its website

Where TCF Bank shines:

  • No monthly fees on its basic checking account
  • Several savings accounts to choose from

Where TCF Bank falls short:

  • Low interest rates on savings accounts and certificates of deposit
  • Steep $37 overdraft fee charged up to five times per day on most checking accounts
  • Information such as fees and rates can be hard to find on its website

Where TCF Bank shines:

  • No monthly fees on its basic checking account
  • Several savings accounts to choose from

Where TCF Bank falls short:

  • Low interest rates on savings accounts and certificates of deposit
  • Steep $37 overdraft fee charged up to five times per day on most checking accounts
  • Information such as fees and rates can be hard to find on its website

The bottom line

TCF Bank

at TCF Bank,

Member, FDIC

TCF Bank is a regional financial institution with a wide range of products and a relatively small network of branches and ATMs. Though it’s convenient if you live in one of the states TCF serves — Arizona, Colorado, Illinois, Michigan, Minnesota, South Dakota and Wisconsin — rates are low and fees are expensive. If you’re looking for better rates, take a look at NerdWallet’s best savings accounts.

Best if: You’re looking for free checking and want to stash your savings at the same bank, regardless of how low its rates are.

» Want more options? See NerdWallet’s analysis of banks that offer excellent checking and savings accounts

Melissa Lambarena is a staff writer at NerdWallet, a personal finance website. Email: mlambarena@nerdwallet.com. Twitter: @LissaLambarena.

Updated Jan. 9, 2018.


Ratings methodology

NerdWallet’s overall ratings for banks and credit unions are weighted averages of several categories: checking, savings, certificates of deposit or credit union share certificates, 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 technology, customer service and innovation.

The stars represent ratings from poor (one star) to excellent (five stars). Ratings are rounded to the nearest half-star.