TCF Power Money Market Review

TCF Bank is based in Sioux Falls, SD. It was founded in 1923 and offers its money market accounts in 7 states across the USA.

If you're considering a money market account and want to know whether TCF Power Money Market is right for you, read on.

Is TCF Power Money Market insured by the FDIC?

FDIC insured. TCF Power Money Market is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC insures deposits in money market accounts up to $250,000 per depositor if a member institution fails.

What are the TCF Power Money Market rates?

TCF Power Money Market offers an APY of up to .01% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a minimum balance of $.01.

What are the TCF Power Money Market fees?

TCF Power Money Market does not charge a monthly maintenance fee. This account charges a monthly maintenance fee of up to $10. You can avoid this fee by maintaining a balance of $1,500.

Federal regulations limit the number of transactions you can make from your money market account to six per month.

What is the minimum balance for TCF Power Money Market?

No minimum initial deposit. TCF Bank does not require a minimum initial deposit to open an account.

Monthly maintenance minimum balance of $1,500. You can avoid the monthly fee if you keep a minimum balance $1,500.

Interest rate minimum balance of $0.01. You must keep the account balance above $0.01 to earn interest.

What features and perks does TCF Power Money Market offer?

This account does not seem to offer any of the features and perks we track.

How to open an account with TCF Bank

• Visit the TCF Bank website.
• Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
• Check the information is accurate and submit your application.