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TCF National Bank

$100 Checking Account Bonus at TCF Bank in Certain States


Update 10/31/2011: The promotion has been extended. However, it now requires 15 qualifying transactions.

TCF Bank is offering a $100 cash bonus for opening a checking account and performing 10 qualifying transactions within 60 calendar days of account opening. The offer is scheduled to end on Dec 31, 2011 June 30, 2011. No direct deposit is required. This special is listed at TCF’s home page. The details are provided in this TCF promotions page. Below is the promotion’s small print:

Offer applies to TCF non-interest bearing checking accounts. The account must have a total of 10 qualifying transactions posted to the account within 60 calendar days of account opening. Qualifying transactions are paid bill payments, paid ACH payments, check card purchases posted and paid checks. Cash will be credited within 3 Business Days following the date you meet the qualifying requirements. Offer is available to individuals and small businesses without a TCF checking account in the past 90 days. Minimum $25 to open a personal non-interest bearing checking account and $100 for a business non-interest bearing checking account. Account must meet all other account opening requirements to qualify. Offer ends December 31, 2011 June 30, 2011. TCF reserves the right to discontinue this offer at any time. Recipient is responsible for all applicable fees.

TCF Bank also offers a refer-a-friend bonus in which you can make $25 for each friend who opens a new account.

Beware of Checking Account Fees

TCF Bank used to offer free checking, but that is no longer the case. The one with the fewest fees is the Convenience Checking Account. To avoid a $9.95 monthly maintenance fee, you must have at least one of the following: 1) $500 in qualifying deposits, 2) 10 qualifying withdrawals in 30 days, or 3) $2,500 in minimum combined balances.

One thing to note regarding the online application is that you are required to pay for the checks. It forces you to select the checks option, and that'll cost at least $17.50. There may be ways to avoid the checks, but that will require a call to the bank’s customer service. The Premier 50+ Checking offers free checks, but TCF still charges for shipping and taxes.


There’s an online application, but the first page of the application states:

A mailing address in Minnesota, Illinois, Michigan, Wisconsin, Indiana, Colorado, Arizona or South Dakota if you are not a current TCF Online Banking customer

In addition to the online application, you can open the account at a branch.

TCF Bank branches are located in many cities in the states listed above. Some of the major cities include Phoenix, Denver, Chicago, Ann Arbor, Minneapolis, Sioux Falls and Milwaukee.

TCF’s Lawsuit Against the Fed

TCF Bank has assets over $10 billion so it will definitely be hit by the new interchange fee regulation that’s scheduled to take effect in July. In fact, TCF Bank actually filed a lawsuit in court against the Federal Reserve over this regulation. According to this Bloomberg article, TCF Bank has said that it will lose $6 million per month if this regulation takes affect. It’s interesting to note that debit card purchases are part of the qualifying 10 transactions for the checking account bonus. We may be seeing fewer of these promotions after the regulation takes effect.

TCF Bank Overview

TCF Bank is a large bank with $18.48 billion in assets. It has an overall health score at DepositAccounts.com of 3 stars (out of 5) with a Texas Ratio of 28.56% (average) based on December 2010 data. Please refer to our financial overview of TCF National Bank for more details. The bank has been a FDIC member since 1936 (FDIC Certificate # 28330).

Other Bank Bonuses

To find other bonus deals at other banks, please refer to the bank bonus page which has all of my recent bank bonus blog posts. There are also additional bonuses listed in the checking account deals forum and in the credit card deals forum.

Related Pages: TCF National Bank, checking account

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Anonymous   |     |   Comment #1
They do hard credit pills and the customer sevice reps are not friendly.

To much hustle to maintain this account, I will pass on this one.
Anonymous   |     |   Comment #2
TCF is a good bank, I've been a customer for years. They have never done me wrong. If you don't take care of your account you will have issues, just like ANY other bank.  And as far as customer service, some are going to be bad, just depends on who you get. Call back, get someone else.
Anonymous   |     |   Comment #3
I banked at TCF for years but switched when their "totally free checking" was no longer totally free.  Their CEO Bill Cooper is anti consumer and is suing the fed regarding interchange fees.  This seems like a good deal on the surface  but I am better off with USAA in the long run.
Anonymous   |     |   Comment #5
worst service ever!!! I plan to close my account asap.
Ed (anonymous)   |     |   Comment #7
My wife and I just discovered that TCF has really ramped up their requirements for "free" checking.  For the Convenience Checking package, you have to have 15 qualifying withdrawals per month or $10K in combined balances.  They eliminated the $500 monthly deposit qualification.  Failure to achieve either goal is met with a $9.95 service fee.  This is isn't our primary checking account, so it's going to get dumped.
Bank Hopping
Bank Hopping (anonymous)   |     |   Comment #8
I'm dumping this checking account too, but can I do it after 3 months, or do I have to wait 6 months? I'm keeping the savings account because the minimum balance is only $100 to avoid fees, and because it's the closest bank to my house.