I signed up for a free checking account back in 2011 so I could sort some coins and I only had like $1 dollar left in the account. But I was trying to set up an online banking account to check my balance today. I couldn't enroll so I called and they said they closed the account in February. I was perplexed by this so I looked through my statements, and sure enough in tiny print on one they said since I hadn't had activity for 6 months they were closing the account. It says there is a $35 closing fee deducted from the balance and the account is closed, but I only had $1 dollar. The guy on the phone wasn't forth coming since I didn't have an active account. My concern is, does this affect my credit rating or anything or are we square. I looked at my credit report and I don't see anything for TCF bank at all in the first place.
TCF Bank Closed My Checking Account
- Thread starter GWestphal
- Start date
If you owe a bank money it can only hurt your credit if they send it to collection.
What it can instantly hurt, however, is your Chex system rating. You may be denied a new checking account somewhere if they reported you to Chex.
What it can instantly hurt, however, is your Chex system rating. You may be denied a new checking account somewhere if they reported you to Chex.
KeithP
Diamond Member
- Jun 15, 2000
- 5,664
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I am guessing the "closing fee" is meant to drop account balances to zero so they don't have to be responsible for finding people and mailing out checks for accounts with very little money and activity. I doubt they report it to any credit agencies.
-Keith
-Keith
0roo0roo
No Lifer
- Sep 21, 2002
- 64,795
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shortylickens
No Lifer
- Jul 15, 2003
- 80,287
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I grew up with TCF. They were awesome in the 80's and early 90's. They went downhill fast. When I joined the Navy in 1997 I left them immediately.
I would assume I would have had some sort of communication from them if I owed them money. I just put in a request for a ChexSystem report, so I guess I'll find out in a week or so. Could you be approved for a credit card, but denied a savings or checking account? The systems aren't that disparate, are they?
Yes, the Chex system has nothing to do with your TU, XP, and EF real consumer credit reports. The Chex system is just one that banks use to share deposit account data.
dullard
Elite Member
- May 21, 2001
- 25,765
- 4,291
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I had the same issue at Wachovia. I used it solely online as a way to transfer money around easilly. But, even though I used it several times a month, they said that I had never used it in person or wrote a check. They closed it without notifying me, charged a fee, and then pretended to be collections asking for the fee money. Wachovia's collection people called me every name in the book: scammer, cheapskate, lier, scumbag, etc. all demanding that I pay them the money that I owed. When of course, they owed ME money for the few dollars that I had in the checking account when they closed it.
After ~4 hours of calling repeatedly and complaining (I think I called several dozen times) I finally got someone to cut a deal. They cancelled the fee, I stoped insisting that they pay me the money that I had in the account when they closed it without my notice. Yes, I ultimately lost a bit on that deal, but I was glad to get it done.
It wasn't a real collections agency, just an internal loss department, so it never showed on my credit report.
After ~4 hours of calling repeatedly and complaining (I think I called several dozen times) I finally got someone to cut a deal. They cancelled the fee, I stoped insisting that they pay me the money that I had in the account when they closed it without my notice. Yes, I ultimately lost a bit on that deal, but I was glad to get it done.
It wasn't a real collections agency, just an internal loss department, so it never showed on my credit report.
I think most states have a bureau of financial services or similar department where you can report incidents like this. Next time send a letter to them and CC one to the bank. That will light a fire under their asses real quick.
I've never received a phone call or mail regarding collections or anything of the sort, so maybe if the account has less than 35 dollars they just zero it out and close it.
Or they will sell the $34 debt to a collections agency that tacks on another $100 collection fee.
You might not want to just ignore this and hope it goes away.
You might not want to just ignore this and hope it goes away.
Has to be the escheat fee since they charge $0 for closing an account. The escheating fee, which IMHO is a bogus fee but they are allowed to get away with it. Its funny they close your account after 6 months of inactivity, but they can't charge you the $10/month dormancy fee until the account is dormant for 1 year+1day.
Basically if you account had money in it, they would have let it go to dormant status and let it drain $10/month until its completely drained. Since it had no money they closed it and charged the escheating fee.
Basically if you account had money in it, they would have let it go to dormant status and let it drain $10/month until its completely drained. Since it had no money they closed it and charged the escheating fee.
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Well, wouldn't that have occurred already? It was apparently closed in February, so that's 7 months ago. I would assume I'd have received a phone call or mail for any additional charge if that were the case.
FYI, went and talked to the bank today. They said there should be no negative consequences, they just closed it, no strings.
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