Oh. You went $10 over your balance? Let me charge you $74 so you dig yourself further into a hole.

I mean. WHAT?!

I just looked at my TCF account and noticed I was charged almost $100 because my cousin put my Rent check through and it put me in the negative just a few days before I got paid again. **** I just looked at the dates, he cashed my check WITHIN 24 HOURS OF PAY DAY.

It's honestly a scam and you can't tell me it's not. I've had cards before that would decline because there is not enough funds available, so why doesn't TCF BANK do that? (Oh wait they have that option, but you have to pay a monthly fee to avoid any over drafts)

Do you know any scams your bank does? The logic is just not there. They should be helping you out, not hurting you worse. (Due note I have PLENTY of funds in my SAVINGS account, so you can't really make any excuses for their scamming).

It's just a ploy to make more money...

Change banks, TCF is ****** af. I had a bank account with them and they overdraft my account almost like $500. Even though I checked my balance for almost 3 days straight and had no pending transactions.
Credit Unions >>

So banks look at your cents and charge you into dollar amounts?

$2.94 = $94?

But still I would be pissed. Over drafts should be $5, if you have available funds in your savings AND your card should be declined. My Mom just told me she pays for a protection from this happening and to always a balance of $500 in your checkings just to safe.

There's not much you can do about it though, you just have to manage your money better (is what she told me).

I don't completely agree though. Banks should be there helping you (if you are living pay check to pay check) not hurting you worse. The logic makes no sense. But I guess if you get a parking ticket, you gotta pay it somehow.

A friend of mine told me to try Credit Unions. TCF just likes to charge you for pointless things. You want protection to not go under? Well you'll have to pay for it

When in all honesty....IT SHOULD BE FREE. Common sense right?! If you have $4 in your account and trying to buy a $5 meal from McDonald's, it should automatically DECLINE. So why the EFF does TCF allow you to go UNDER if there is NO funds available? Oh right. Scam!

But if you spend $20 a month for this, in the long run you are hurting yourself worse.

$240 a year just to not go under?

vs.

$74 once a year (if it DOES happen to you?)

I think I'd rather take my chances. This is the 2nd time I think this happened to me (although some of other ones got waived).

I just call and ask the bank to refund the amount due to issues my checking not coming in on time. You just got to know how to play the system. Have a good excuse.

I use Bank of America and they don't do that lol

ALL OF THIS.

I did have like $200 in my checks maybe a little more. I ended up paying like 7 bucks rather than $94

Banks literally make money from poor/broke people

I lost 200$ last werk because of that :/

Lol when I was hooked on meth I maxed out my debit card. Instead of freezing my account they let me overdraft my account by $500 dollars then charged me $200 in overdraft fees.

I paid it off of course after I got my life back together but it will be on my credit report for all eternity

Well, banks are there to make money.

It's also meant to be preventative. If you know that you'll get hit with salty overdraft fees, you'll think twice before spending money you don't know you have for sure. If everyone overdrafted, the banks would need to pick up the tab. 2-3$ may seem like a pittance to you, but extrapolate that over hundreds of thousands of accounts day to day and it adds up.

Also, we're in the 21st century where every major bank has an app that allows you to check your balance and transfer $ between accounts. There's really no reason to ever overdraft if you're being attentive.

Eat the fee and take it as a lesson that it costs to be careless, that's all.

Last time something like this happened to me, I called them saying how loyal of a customer or member of the bank I was and how I didn't realize this would happen and they reversed it.

you can try that

You have some nice ass staff members who don't care about procedure then, since it should be one gesture of goodwill every 12 months.

You can't blame anyone else for your lack of organisation. If you open an account, you should actually read the terms and conditions because otherwise you have no right to complain. There are specific timescales - that are always same day - for putting cash in. If it's not there by 10pm (previously 3.30pm), then you'll be charged. Also remember that cheques from different banks have clearing periods which are usually 4 days. That's an agreement between banks for security purposes.

It's also your own problem if you had money in your savings account and didn't keep up to date and transfer funds to clear your overdraft. Having money in one account doesn't excuse being overdrawn in another. A bank is also a business, not a charity. Their aim is to make money.

Also note that most cards will decline chip and pin transactions if there isn't enough funds. It's more the case of online transactions that will go through because they can't actually check and verify it like a C&P transaction can.

FYI, what you experienced is an unauthorized overdraft. You can apply for an actual overdraft - which is usually a small fee per month (only applied if you actually go into it) and a small percentage of what you're overdrawn by, as opposed to daily £10 charges for being in an unauthorized overdraft. Look into it.

I understand all of this. I'm usually pretty smart about this. Before I write any major check (like Rent) I always check my account. I went online and knew I was getting paid on Friday and thought I would be fine and dandy.

Most transactions take a while to process. From my experience, my direct deposit is usually accurate on time within the midnight.

The major draw back to this situation is...

I wrote a check FROM TCF to another TCF account. It doesn't need to go through a screening process and wait before approving. For now on, I'm just going to be very extra careful when it comes time to paying rent.

And yes I'll call TCF and try to reverse it anyways. It's worth a try.

All you have to do is tell the bank you don't want overdraft

That's not strictly true. Usually that is the case - however remember it doesn't leave the account until its actually cashed - but in certain cases, it can be put through clearings (such as when the originating account doesn't have funds, or being processed through an Instant Deposit Machine (IDM), or if branch staff believe there could be something untoward about the cheque - it can have extra clearing dates put on for security reasons - make sure they have your phone number as they'd usually call you before doing this).

But yeah. If you haven't requested a refund in 12 months, they should agree to give you one. Just go in and make yourself seem like you just didn't really understand what was going on and seem regretful for it. they'll try and help as best they can. it's what they're paid for.

--

While on the topic of timescales. In case anyone's unsure when seeing this thread; inter-account transfers are usually done instantly; whether done in branch or online. Faster payments will usually be done within 2 hours - mostly instantly (they leave the account instantly but may not reach the beneficiary till the 2 hours are up). deposits and withdrawals in branch happen instantly; same for ATM withdrawals or IDM cash deposits. IDM cheques usually take 4 days. Depositing a cheque in branch is usually 4 days too if its an outside cheque. Debit card payments and online payments will take a few days (2-5) to process but will shop up in pending transactions. Paypal payments (if you have a PP direct debit - i.e. where its linked to your bank account directly), contacless (tap) payments and usually Apple Pay etc will take a few days to come off but will NOT show up as pending, so keep a note of any of those you do, coz they can catch you off guard so much. That's all

This is awesome, thanks for the rundown.

Would you be able to tell me why intermediary banks like to take it upon themselves to change the currencies of bank wires between remitting and beneficiary accounts? This is my nightmare at work and I want to whip **** at my screen every time it happens.