Brandt Krueger

TECHNICAL PRODUCER, EDUCATOR, SPEAKER, AND CONSULTANT FOR THE MEETING AND EVENTS INDUSTRY. GEEK DAD, HUSBAND

Consultant, Meeting and Event Technology
Owner, Event Technology Consulting
Instructor, Event Leadership Institute
Cohost, #EventIcons - Where the icons of the event industry meet

Filtering by Tag: fees

Enjoy Your $9.95 with a Side of Failing Business Model

Following in Bank of America's forward, but not backward, steps- TCF National Bank is dicking around with their checking fees. A mystery charge of $9.95 showed up on my statement this month. Apparently they sent me the notice in September on my statement, which I receive online. Yep, it was there, 3 pages deep after the canceled checks (four, by the time you get to the actual part where I could have figured out the changes). Basically, if I don't have a minimum of 15 transactions per month, they charge a fee of $9.95.

Seems like every month I find a new reason I can't wait to cease being your customer, TCF. I also know that I'm not alone in that desire. Complicated finances make it currently impossible for me to cut the cord completely, but for now my math is simple: I don't make 15 transactions per month on that account, so I'll be closing my checking account as soon as I can. I'm sure that works on somebody's spreadsheet, probably something to do with the cost of maintaining low activity accounts. Considering the massive amounts of automation in banking these days, I can't see how it would, though. Methinks it might have something more to do with another part of the balance sheet.

**** Edit **** I should add that after several phone calls and complaints (and being told that closing my checking account would significantly increase my costs on my other accounts), they mysteriously found a checking account between the couch cushions that did not have this minimum requirement.