Last Updated: 04/18/2025
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Highlights
APY (Annual Percentage Yield)
0.05% - 0.25%(Verified 06/21/2024)
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Minimum Opening Deposit
Starting at $25
Minimum Balance to Earn APY
$1,000
TCF Elevate Savings Review
TCF Elevate Savings is offered by TCF Bank, a bank founded in 1923 and based in Sioux Falls, SD. TCF savings account are available in 50 states and Washington, DC.
Key Takeaways
- Higher than average APY. TCF Elevate Savings has an annual percentage yield of up to 0.25%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $1000 to earn that interest rate.
- Charges a monthly fee. This account charges a monthly fee of up to $10, but the fee may be waived if you keep a minimum balance of$5,000.
TCF savings account Pros & Cons
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TCF savings account FAQ
Are savings accounts from TCF Bank federally insured?
Yes, your deposits are insured 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 savings account has a bonus of $0 .
What is the minimum initial deposit for TCF savings account?
The minimum deposit to open a TCF savings account is $25.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Average Balance to Avoid Monthly Service Fee | Starting at $5,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Balance to Earn APY | $1,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | Starting at $25 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does TCF Elevate Savings offer?
TCF savings account offers a variable APY starting at 0.05% and ranging up to 0.25% (APY stands for annual percentage yield, rates may change).
What fees does TCF savings account charge?
TCF savings account does not charge a monthly service fee. See the fee breakdown section below to view all fees.
However, you can waive the monthly fees if you have a minimum daily balance of $5,000.
- 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 savings account charges $2 every time you request a paper statement.
What features and perks does TCF savings account 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 savings account 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 savings account?
Yes, you can typically set up a direct deposit to this account. 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 savings account?
The customer support email for TCF savings account is tcfbank.support@upstart.com.
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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