Understanding overdrafts and non-sufficient funds

Important information for teens as they start using their TCF® Teen Checking account.

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Non-sufficient funds

It’s important to understand what happens when your account balance gets too low. When you don’t have enough money (called “non-sufficient funds”) in your Teen Checking account:

  • You can’t withdraw cash from an ATM if the withdrawal would exceed your available balance.
  • You can’t make a debit card purchase if the purchase would exceed your available balance.
    • If you try to make a purchase, your card will be declined and you’ll need to find another way to pay.
    • TCF doesn’t charge a fee for declined debit card transactions.
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Overdrafts and returned item NSF fees

If you set up a recurring payment like a monthly cell phone bill, but there’s not enough money in your account to cover the payment at the time it’s deducted from your account, you could end up paying a fee.

  • If TCF returns the item without paying it, you’ll be charged a $15 fee, called a “returned item NSF fee.” There is a separate fee each time TCF returns the item. You may also be charged a fee by the merchant you were trying to pay.
  • If TCF decides to make the payment even though there’s not enough money in your account to cover it, you’ll be charged a $15 overdraft fee. Your account will then have a negative balance and you’ll have to deposit money to bring it positive.
  • There’s a maximum of two returned item NSF and overdraft fees per day.

When you turn 18, TCF will transfer you to a Student Checking account. At that time, your returned item NSF and overdraft fees will increase. Develop a healthy habit now of monitoring your account and managing your balance.

Monitor your balance and avoid fees

  • Enroll in digital banking and use TCF’s mobile app for on-the-go access to your account balance and recent payments.
  • Understand that certain debit card transactions process differently than others.
  • Remember upcoming automatic payments. When you look at your available balance, you should keep in mind (and deduct from your balance) any upcoming automatic payments so you don’t overspend.
  • Use alerts. Set up alerts within digital banking to notify you if your account balance falls below a certain amount. You can have alerts sent to your mobile app by selecting push notifications as the delivery option. Please note that alerts are meant to be a helpful guide, but you should not solely rely on them for your balance information. Alerts are meant to notify you about certain account activity, but they’re not delivered in real time, so you won’t get immediate updates about your balance or payments.
  • Set up direct deposit. If you have a job, set up direct deposit to get your paycheck into your account quickly.

When you deposit money into your account, the funds may not be available immediately. Learn when your funds will be available.

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