TCF Bank today announced it is reintroducing TCF Free Checking and will no longer charge a monthly maintenance fee for all customers currently using a variety of its most popular checking products. At a time when banks are generally increasing fees or inventing new ways to charge them, TCF Bank is taking a different path. In an industry-leading move to provide customers more for less, the bank’s customers will see the elimination of the monthly fee and will be able to utilize their accounts without regard for minimum balance, direct deposit or transaction level requirements.
TCF will continue to offer the wide range of free services its customers have come to expect -- such as no monthly debit card fee, free online banking and bill payment, free mobile banking, free text and email account alerts, free coin counting, free direct deposit and free teller transactions. In addition, TCF will continue to offer its superior level of convenience and service, such as 7 day a week banking, in its more than 430 branches across eight states and will not be increasing pricing on other current services.
The launch of TCF Free Checking follows a rigorous strategic planning process that included multiple layers of interviews and surveys with consumers in TCF’s markets. “First and foremost, consumers today are looking for convenience, straight-talk and fewer fees,” said William A. Cooper, TCF Financial Corporation Chairman and Chief Executive Officer. “TCF Free Checking responds to these priorities and also continues the evolution of TCF.
“It’s simple. We asked lots of consumers what they want. We listened and we’re responding by delivering a product they deserve. We pioneered Free Checking in 1986. It was the right product then and it is the right product now.”
The decision to bring back Free Checking was an extension of TCF’s superior convenience platform and part of the ongoing evolution of TCF designed to deliver great products at great prices, flexible service options and simple convenience.