WAYZATA, Minn.--(BUSINESS WIRE)--TCF National Bank (TCF Bank), a subsidiary of TCF Financial Corporation (NYSE: TCB), today announced the introduction of ZEOSM, a suite of products that provides choice, convenience and control to consumers who want alternative ways to manage their money. Available today in all 342 TCF branch locations, ZEO helps consumers choose the money-management solution that best meets their needs with the guided expertise of TCF relationship bankers. ZEO's products and services include a prepaid debit card, check cashing, a savings account, money orders, along with Western Union® money transfers and bill payment services. The suite of ZEO products is offered to consumers even if they do not have a TCF Bank account.
“We are excited to introduce ZEO to our customers because they value having a variety of products and services to efficiently manage their finances,” said Craig R. Dahl, chief executive officer of TCF Financial Corporation. “ZEO fills a critical and growing need to deliver choice and flexibility when it comes to helping consumers pay their bills and manage their spending. Whether it’s through our prepaid card, check cashing, bill payment or money transfer offerings, ZEO broadens consumer access to the banking system and delivers these products and services in the setting of our bank branches.”
“Whether our customers have an unanticipated expense or variable income, they want ways to budget their spending, pay bills on their schedule, and save money without a minimum balance – all in one location and with the expertise of a banker,” said Michael S. Jones, TCF’s executive vice president, consumer banking. “ZEO’s suite of products empowers consumers to manage their money in the way that best meets their needs. And, as customers grow their relationship with us, they have the opportunity to seamlessly use our other banking and credit products.”
The ZEO suite of products includes:
- ZEO Prepaid Visa® Debit Card – a prepaid debit card that can be reloaded multiple times and used anywhere Visa is accepted for in-person and online purchases. The ZEO Card is a new option for consumers who like making purchases that can be tracked and monitored, but want to separately budget their money or make sure they don’t spend more than they make. Funds are loaded directly on the ZEO Card and are immediately available for purchases. There are no overdraft fees, and with our zero-fraud liability, consumers have the same protections against unauthorized spending as they would have with our traditional banking accounts.
- ZEO Check Cashing – a convenient solution for consumers who need access to their money right away or prefer to pay with cash. This option also provides small business owners with greater flexibility to manage their cash flow.
- ZEO Savings – a solution for consumers who want to start a savings account with a small amount of money and do not want to pay a monthly fee. Transaction options are limited to deposits or withdrawals in the branch to help protect their balance from unintentional spending.
- Western Union Money Transfer® – Western Union money transfers allow consumers to send or receive a money transfer to almost any country in the world, quickly and conveniently.
- Western Union® Bill Payment – Western Union bill payment services give consumers the control to pay bills for their credit cards, car, rent, mortgage, utilities and more.
- Money Orders – available to consumers without a bank account who need to pay a bill or make a payment but cannot do so via check. Money orders are dependable, widely accepted, traceable and immediate, so consumers can feel confident their bill or payment is paid.
ZEO’s products and services are available today in all 342 TCF Bank locations in Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona, and South Dakota. Consumers interested in learning more about ZEO products can visit tcfbank.com/ZEO or stop by a TCF Bank location. A listing of locations can be found at tcfbank.com/locations.
A comprehensive multi-channel campaign to support the introduction of ZEO will begin on May 31 and it includes broadcast, digital, out-of-home and in-branch advertising; social media; and engaging digital content on tcfbank.com that will inform consumers about the benefits of the new product suite.
TCF is a Wayzata, Minnesota-based national bank holding company. As of May 23, 2016, TCF had 342 branches in Illinois, Minnesota, Michigan, Colorado, Wisconsin, Arizona, and South Dakota, providing retail and commercial banking services. TCF had $21.3 billion in total assets as of the end of its fiscal first quarter on March 31, 2016. TCF, through its subsidiaries, also conducts commercial leasing, equipment finance, and auto finance business in all 50 states and commercial inventory finance business in all 50 states and Canada. For more information about TCF, please visit tcfbank.com.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of March 31, 2016, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of over 500,000 agent locations in 200 countries and territories and over 100,000 ATMs and kiosks, and included the capability to send money to over one billion accounts. In 2015, The Western Union Company completed 262 million consumer-to-consumer transactions worldwide, moving $82 billion of principal between consumers, and 508 million business payments. For more information, visit www.westernunion.com.