TCF is the most complained about large bank and it isn't even close

Categories: Business
TCFBankLogo.jpg
A new study from the U.S. Public Interest Research Group reveals that TCF is the most complained about large bank in the country by a more than two-to-one margin.

SEE ALSO: Iranian U of M students baffled as TCF Bank suddenly closes their bank accounts

According to the study, customers filed 24.9 complaints with federal regulators for every billion dollars of deposits TCF holds. By comparison, the second most-complained about bank, Sovereign Bank, was hit with only 9.1 complaints per billion in deposits.

The Minneapolis/St. Paul Business Journal shares some of the ugly-for-TCF details, as well as the full top 25 list of the most complained about banks:
[TCF] ranked first for complaints related to checking and savings accounts, and for issues with account management, deposits and withdrawals, low funds, making or receiving payments, and ATMs or debit cards.

TCF Bank offered money to complaining customers more than half the time, the report said, but the bank's customers were most likely to be dissatisfied with the bank's response.
A spokesman for the Wayzata-based bank made a case to the Star Tribune that PIRG's methodology is flawed, as it doesn't account for the number of checking accounts maintained by each bank. TCF officials argue the bank probably has more accounts than any other comparable one, which could reasonably lead to a higher volume of complaints than if its deposits were spread across fewer bankers.

-- Follow Aaron Rupar on Twitter at @atrupar. Got a tip? Drop him a line at arupar@citypages.com.


Sponsor Content

My Voice Nation Help
24 comments
Mark Witte
Mark Witte

Yes we get more complaints because we have more banks. WAAA. I love credit unions. Why doesnt the U of M have a credit union? Fuck TCF and Fuck wells fargo.

Susan Montgomery
Susan Montgomery

I had wells fargo before TCF. Neither of them are great but Wells Fargo is worse!

Cassidy Anderson
Cassidy Anderson

seriously. they were taking half my paychecks with fees alone. just because they would process my rent or bills before processing my DIRECT DEPOSIT. and it was my fault according to them.

Maryanne Hernandez
Maryanne Hernandez

Lol I remember working for TCF... got in trouble for always reversing overdraft fees and explaining the REAL reason why they got them vs the "you didn't properly monitor your account, do you have a register to record your spending?" response they wanted us to give...

Curtis Meyer
Curtis Meyer

I've lived in this state for almost 14 years. I've only heard bad things about TCF. Probably why I've never done business with them. Two words, people: Credit union.

Ivory Katese Taylor
Ivory Katese Taylor

Not that it matters, but TCF was the best bank I ever had as a young student, their customer service was great, and I missed them when I moved out of state.

Jim Hall
Jim Hall

Worst bank I've ever had....I really dont know of anyone that is happy with them.

Frank Rizzo
Frank Rizzo

nah its them pricks at tcf who needs ta get a kick in there cocks!

David Lloyd
David Lloyd

This is not news. However, their target customers seem to be those living paycheck to paycheck so they can prey on them with any number of bogus fees regarding balance, overdraft, etc.

Frank Rizzo
Frank Rizzo

tcf is full a pricks who dont care about nobody but themselfs!

Frank Rizzo
Frank Rizzo

they treat everyone like a bunch a pricks there!

Mark Taylor
Mark Taylor

I agree this is the worse bank ever. They made a mistake on my account. I kept putting in $100-200 a day & they kept bouncing checks & charging me. They had me down that I was owed them over $600. Before I could check out what they did. Then the 1st banker I talked to told me it was my problem without checking it. Then I went to a different one & she saw the mistake right away & that it was their mistake. After she checked it out & I closed the account I got back a chech for over $300.

Christian Johnson
Christian Johnson

I thought we didn't stand for this kind of crap in MN... Sic the AG on these thieves

Zogu
Zogu

It's a fair objection.  If the study cites raw number of complaints instead of complains as a percentage of total accounts, then negative results are going to skew to the larger bank.  It's a bad method.

4treras
4treras

Same here. They can take 4 days to process a deposit. I wish I closed my account last month.

Now Trending

Minnesota Concert Tickets

Around The Web

From the Vault

 

Loading...