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  TCF Free Savings
TCF Free Savings
in Savings Accounts from TCF Bank · Member FDIC
Unaffiliated

TCF Free Savings

Unaffiliated
in Savings Accounts from TCF Bank · Member FDIC
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Highlights
Monthly Fee $0
APY (Annual Percentage Yield) 0.01%
Minimum Balance to Earn APY N/A

TCF Free Savings Review

TCF Free Savings is offered by TCF Bank, a bank founded in 1923 and based in Sioux Falls, SD. TCF Free Savings is available in 7 states across the USA.

Key Takeaways

  • Low interest rate. The maximum annual percentage yield for this account is only 0.01%.
  • $0 monthly fee. This account does not charge a monthly Service Charge.

TCF Free Savings Pros & Cons

Pros Cons
  • Interest-yielding account.
  • Access to physical branches.
  • Free debit card
  • No signup bonus.
  • Does not provide access to a nationwide ATM network.
  • Only available in 7 states.
  • Higher than average wire transfer fees.

TCF Free Savings FAQ

Are savings accounts from TCF Bank federally insured?

Yes, your TCF Bank savings accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

Does TCF Bank offer a signup bonus?

TCF Free Savings doesn't offer a signup bonus.

What is the minimum initial deposit for TCF Free Savings?

The minimum deposit to open a TCF Free Savings is $25.
TCF Free Savings Minimums
Description
Minimum Balance to Avoid Monthly Fee Starting at $0
Minimum Opening Deposit Starting at $25

What APY does TCF Bank offer?

TCF Free Savings offers an APY of 0.01% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does TCF Free Savings charge?

TCF Free Savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.

  • Outgoing domestic bank transfers come with a $30 fee.
  • Incoming domestic bank transfers come with a $15 fee.
  • Outgoing international bank transfers come with a $50 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.
  • Incoming international bank transfers come with a $15 fee.
  • TCF Free Savings charges $2 every time you request a paper statement.

What features and perks does TCF Free Savings offer?

This savings account includes the following features:

  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - TCF Free Savings allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to TCF Free Savings?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for TCF Free Savings?

The customer support email for TCF Free Savings is tcfbank.support@upstart.com.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 5:00pm
  • Tuesday 9:00am - 5:00pm
  • Wednesday 9:00am - 5:00pm
  • Thursday 9:00am - 5:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 10:00am - 3:00pm

Other Services by TCF Bank

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View all savings accounts offered by TCF Bank

Availability

  Available in 7 states
  • Arizona
  • Colorado
  • Illinois
  • Michigan
  • Minnesota
  • South Dakota
  • Wisconsin

Feature Breakdown

Minimum Balance to Avoid Monthly Fee Starting at $0
Minimum Opening Deposit Starting at $25
Monthly Fee $0
International ATM Surcharge $5
Wire Transfer Fee - Domestic (Incoming) $15
Wire Transfer Fee - Domestic (Outgoing) $30
Wire Transfer Fee - International (Incoming) $15
Wire Transfer Fee - International (Outgoing) $50
Paper Statement Fee $2
Returned Deposit Fee (Domestic) $20
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Proof of Identity
  • Government Issued Photo ID
  • U.S. Tax Identification Number
  • Social Security Number
Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Mobile Banking
  • Debit Card
  • Branch Access
APY (Annual Percentage Yield) 0.01%

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