TCF is a big bank with a wide range of products and a small network of branches and ATMs. It’s convenient for those who live near a TCF location, but for those who don’t, other national banks may offer better account options.
The bottom line:
- A small network of branches and ATMs.
- Low savings rates.
- Out-of-network ATM fees aren’t reimbursed on basic deposit accounts.
|Certificates of deposit|
» MORE: Best online checking accounts
3.5 / 5.0
This checking account is best for customers who won’t stray from TCF Bank ATM and branch locations. Unlike some of the other checking accounts that this bank offers, the basic checking account doesn’t include two free out-of-network ATM withdrawals per statement cycle.
» MORE: NerdWallet’s best national banks
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.
Certificates of deposit
2.5 / 5.0
TCF Bank offers a variety of fixed terms, some with special rates occasionally offered in different states. Explore other options from an online-only bank or a credit union if you’re hunting for the best rates.
3.5 / 5.0
At TCF Bank, you get the experience of a big bank but with slightly higher rates. The small network of branches and ATMs is a deal breaker for basic deposit accounts, because if you travel outside of TCF Bank’s service areas you’ll likely face out-of-network fees.
Customer service is available only by phone, but you can make many transactions, such as transferring money internally or paying bills, through the website or mobile app. Transferring money to friends or loved ones at other banks isn’t an option on mobile.
1.5 / 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 TCF Bank’s fee is steep at $10. 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
Verified Jan. 11, 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