Checking or savings account -- Managing an account -- Complaint #4654839

Complaint Overview

Complaint ID: 4654839

Company: Tcf National Bank

Product: Checking or savings account

Sub-Product: Checking account

Issue: Managing an account

Sub-Issue: Deposits and withdrawals

State: Illinois

ZIP Code: 60411

Date Received: 2021-08-23T12:00:00-05:00

Date Sent to Company: 2021-08-23T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

Im a Small business owner/Sole proprietor.I lawfully applied & was approved for Target Advance funding from The Small Business Administration in the amount of {$15000.00} to my TCF checking account that would deposit at 2 seperate times : {$5000.00} & {$10000.00}. {$5000.00} deposited on XX/XX/XXXX with no issues and sat in my account four days.Then {$10000.00} deposited XX/XX/XXXX. I transfered {$7000.00} out to another account I own. Without notification, The Bank blocked my debit card when I tried to continue making my normal daily purchases, & lied when I called them ; by saying my deposits from the Sba had mismatched names on them. They also lied about {$5000.00} being placed on hold after an argument with a TCF rep over the phone.I sign into my account online & I see they have my {$10000.00} deposit, classified as a return item/credit card payment to the Sba. TCF was sending {$10000.00} to the SBA, {$8000.00} of which was my remaining balance.They claim it was mismatch info on the deposits.The strange thing is ; I already transfered {$7000.00} out with a remaining balance of {$8000.00} so basically TCF gave the Sba {$2000.00} to make it appear, it was the same {$10000.00} that deposited. TCF actually took the remaining balance of {$8000.00}, added {$2000.00} on top of that, to give to the Sba without ANY NOTIFICATION, PERMISSION NOR WARNING.I spoke to my local branch manager over the phone. After some digging, she said it was a mismatched name on the deposits but she couldnt see what the name was on the deposits.I called TCF again & escalated the issue. They finally told me it was my business name on the deposits ( XXXX XXXXXXXX ). I informed them, that XXXX XXXXXXXX is my business name & I have documentation to prove it, similar to the documents I provided to the Sba to receive the grants ; as it was a meticulous process that I went through to receive the funds, for which I waited a year to receive. I expressed concern as to why I wasnt notified of their ( TCF ) concerns before they restricted my debit card usage & were removing my funds without ANY COMMUNICATION before hand. I received no answer to that particular question. TCF then said they were understanding to my dilemma & that they would gladly process the {$10000.00} that the Sba would reissue, with they receive those funds back. I informed Sba ; and my loan officer of everything that occured & she assured me that Sba would refund me any/all funds that TCF would return. Within the same week of XX/XX/XXXX, I went to my local branch & supplied docs to prove my business & identity as I was told this would resolve the issue. I informed the local branch manager that the people over the phone lied, by saying it was my business name that the funds were disbursed under. I provided to her email communication showing that my loan officer provided me with a screen shot proving it was MY PERSONAL NAME, AND NOT MY BUSINESS NAME THAT THE GRANTS WERE PROCESSED WITH. I was told previously and as most would know ; you dont need a " business checking account '' if you are a SOLE PROPRIETOR. The bank continued with deceptive practice, via the local manager when she provided a letter from TCF stating that {$5000.00} was ON HOLD for reason given : " We anticipate receiving a request to return the funds to the originator ''. This made NO SENSE TO ME.As {$5000.00} ( {$7000.00} ) already transfered out & also, I was contact with the Sba every week, every other day via telephone & email communication regarding this issue ; because the Sba also wanted to know exactly why my bank was with holding my funds from me and they wanted to MAKE SURE I wouldnt experience these problems again when they process my refunds. So again, we have atleast THREE INSTANCES of my bank exhibiting deceptive practice. Two of which ; were lies. They said it was a mismatched name on the deposits ; which is a lie. They said they are holding {$5000.00} ; to justify why they sent The Small business administration $ XXXXWhich actually {$8000.00} was my funds & {$2000.00} was funds they added. TCF continues to this very day, with the deceptive practices regarding my account. I have TWO very different negative balances. When I sign in online ; the negative balance reads : XXXX Yet, in my monthly statement it reads : XXXX. The lesser amount is more accurate : as it reflects the roughly {$2000.00} that TCF gave The Sba, when they stole {$8000.00} from my accounr & sent it back to them and now this very amount of XXXX ; TCF is saying is my responsibility to pay. TCF is saying its my fault that they gave The Sba roughly {$2000.00} ; because they were too busy practicing illegal activity by transferring my funds without permission of ANY SORT. Not from The Sba, a court order nor Me. For 2+ weeks Ive been contacting TCF XXXX to hear back regarding this negative balance on my acct & to ask WHY the bank lied about everything and they are OUTRIGHT REFUSING to take any accountability nor responsibility. Please step in.

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This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

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