close bank acct - report to check systems???

i also had that sameproblem. thing is that your new bank will find out that you are on chex system, cause they look at the reports, and they will close your account.Yiu can not get an account for 5 years whikle you are on chex system

Yes, that is true. Some banks will do "sweeps" on new accounts and find your chexsystems report. Normally they will then close your new account.

Chexsystems is a consumer reporting agency, kind of like a credit bureau. The item will stay on your report for 5 years. Once the item is paid, it will show as paid, but will stay on the report.

ChexSystems is.....


a check verification service and consumer credit reporting agency like Experian, Equifax and TransUnion. While most credit reporting agencies broker data about how a consumer handles credit relationships, ChexSystems provides data related to how a consumer has handled deposit accounts at banking institutions. "ChexSystems" is a registered service mark of eFunds Corporation headquartered in Delaware and was previously registered to "Chex Systems, Inc


Once on chexsystems, your name will remain on file for 5 years unless you file a dispute and there is no guarantee to be removed even with dispute. Paying the bank will NOT remove you from chexsystems. Many people believe and are even told it will but it will NOT.

The reporting bank is the ONLY one that can have chexsystems remove you and 9 time out of 10 the banks will NOT.




What do banks consider Fraud


This is yet another vague Chexsystems entry flag. "Fraud" means whatever the reporting bank wants it to at the time.

Here are some recent examples I have seen reported as "fraud" with different banks:

1) Elderly person falls victim to a pigeon drop scheme and deposits a phony money order in her account for $5,000. This individual is 74 and has maintained the account in good standing for over 25 years without a single overdraft. Her account is closed and she is reported to Chex systems for "fraud", causing her monthly Social Security payment to be returned. What was aggravating is that she also had an investment account at the bank with over $11,000 in it.
(Well Fargo)

2) An employment dispute caused the accountholder's employer to issue a stop payment on a payroll check, resulting in over 400 of NSF charges. The account is closed and reported to Chex as fraud. (Compass Bank)

3) Small auto dealer sells a car, depositing a cashier's check for $6500. At the time of the deposit, he asks for $1000 back in cash. The dealer has owned the business for 22 years, and keeps a large average balance in the account. Because the cashier's check was a forgery, he is arrested on the spot, the account is closed and reported to Chex as fraud.
(Chase Bank - formerly Bank One)

If you have been reported to Chex for fraud, but you did not commit an illegal act, then I say make them prove and justify it.

It was later determined that these individuals were victims themselves and no charges were filed. In the case of the stop payment, the individual has hired an attorney. The employer may have violated state law for refusing sales commission payments. All three are still trying to get the fraud entries removed from Chexsystems.

As far as a new bank closing your account, it really depends on what bank it is. Yes goudah is correct some banks like WAMU, Wells Fargo etc will do sweeps and periodically run checks on customers that are in good standings. But again it really depends on the bank.

Another thing to look out for is when ordering checks..same situation can occour

Did you know that when you order checks from Deluxe or one of their subsidaries, that they send personal information to Chexsystems and to Deluxe's collection agencies? They send your acount number, address, phone number, and more. Do not order checks through Deluxe, Current Checks, Designer Checks, or Checks Unlimited. They also send information to other companies such as Debit Bureau, EFunds, and SCAN.

The Style check company seems okay and it does state that they keep all information confidential. Just always make sure that it isn't owned by Chex. They also keep information on file such as your account number, check numbers etc. Be Careful is all I am saying because there have been people who ordered checks and then chexsystems contacts thier bank realizing they have an account to let them know they are on chexsystems. Some situations where accounts were closed just from ordering checks.



Suggestions: Clarke American, Style Checks

2 others


Thank you for your inquiry. The answer is no, Liberty is not owned by
Deluxe, we are a private employee owned company. If you have any
further
questions please feel free to email again.
Sincerely,
Diane Schlichting
Liberty Customer Service

---------------------------------------------------------------------- ------


Thank you for contacting The Check Gallery. No, we are not affiliated
with Deluxe Corp. If you have any further questions, please feel free
to email me again. Thank you.
Sincerely,
Kira
Customer Contact Representative
_________________

thanks everyone for the info!

my new bank is wacovia, and I'll say they have been great so far....unlike wells f***you :evil:

Just be cautious with wachovia as well. Sometimes they will open accounts then close them at a later time if you are reported to chexsystems. generally this is if there is " fraud " indicated on the report or a large amount of money is owed to another bank

Quote:

Shannon,
yes you would be able to get your fund in the account back if they decided to close it. It sounds as if you will be fine. I know people are really upset when accounts are closed because although they will get the money in the account, most times banks will hold it for a brief time to make sure nothing else is going to come through on the account.

I believe the only thing I have hyeard about Wachovia closing accounts is when " fraud " was indicated

I am on chexsystems one time from Bank Of America listed as Account abuse, is this considered fraud?

thanks

cluelessnomore
Good to see you here :) ...no account abuse is not the same as what they call
" fraud " or generally they will call it ' suspected fraud "

Yep, still following what is going on. February will be one year since BOA reported me. Still have Wachovia account open and going well.

Read where you home school. I am a public High School art teacher and think it is great the time and effort you have put into your childrens education! It is now "where" you receive your education but "how" that counts. I teach many students who no one cares about them much less their performance in school! Good luck to your son who is receiving his college degree online.

sorry for the typo's in a hurry...............

cluelessnomore.....actually I home school two of my children still with an online school but my oldest son the one in college, he goes to the University of Dayton ( but he graduated an online high school )

How long have you had the Wachovia account ?

Opps sorry I got confused! I miss my University Days.

I opened the Wachovia account one week before Bank of America reported me, so I have had the account 10 months. Overdrafted a few times. I also have a credit union account that I have had for 18 years.

Keeping my fingers crossed :)

does it affect your credit to the bureaus if you are reported to chex systems?

I have an account at a Credit Union--a savings account, but they won't give me a regular Visa checkcard. Yes, I've had trouble with Chexststems--but everytime I challenge them--they pull the complaint against off. Any comments?

Can an item reapear on check systems again after it was removed and what if it does is there anything anybody can do?
I have a friend that removed a derrogatory in check systems and now appear again what can she do?

If your bank account gets closed you should try to open one at Woodforest National Bank. They are mostly in Walmarts. I had been reported to chex and a friend told me that Woodforest was a 2nd chance bank. So I went and signed up for their 2nd chance banking and found out that I didn't even need to be in that program. I was able to get the regular checking with them. If you do end up with 2nd chance though it's $9.99 a month. Which isn't too bad considering what some places charge.

The other nice thing is that if you cash your paycheck and its around the same amount every time, eventually there will be no hold on it, it will clear the same day.

My husband gets a trust fund check every month. It's usually in the amount of $3,200. The first time they placed a 10 day hold on it. After that, every time I bring it in it clears immediately. I can withdraw it in seconds.

Just a suggestion for those without bank accounts, or worried about chex.

Woodforest does look at chex, but they will give you a 2nd chance account no matter what, and apparently their requirements for a regular checking account are pretty lax. Because I got one with multiple marks on my chex report.

Is Harland Clarke belong to Chexsystem??

Is there a way you can check chexSystems to see when you were put on and by whom or how long you have been on it. or How it was labeled when it was put on ChexSystems?

no it does not but there are many banks that will also report to the bureaus as well as chexsystems. There are also times when the bank will turn the account over to a CA that will then report to the bureaus

never mind to my question I found the answer at consumerdebit .com/ consumerinfo /us /en // chexsystems /report /index .htm Just remove all the spaces

yes get a free copy of your report at www.chexhelp.com It is very important to know what it says

does anyone know if you had an account with a bank and it was closed over 5 years can a collection agency now try to collect? i checked my credit reports and chexsystems and that bank i owed for overdrawn fees when they closed it, is not on there? so what actions do i take now? if it is not on my chexsystems report, why would I need to pay this collection agency? advice......

hi if muy acct is close buy the bank and report me to chex sysrtem can i open a bank acct again

No, it does not affect the credit bureau as it does not actually extend credit or it does not lend.Thereby having a bad credit rating on file does not keep one away from buying or planning anything for the future (specially with any type of loans).If you want, you can get a copy of your personal chexsystems by paying for it.

I also was recently put on chexsystems from BOA for overdraft fees. Although, they were accumulated on an accunt that started with a zero balance! Anyway, you all know the crooked ways BOA have handled things recently! My question is this. Can I send BOA a pay for delete letter and see if they will except payment for removal from chexsystems? Do I have a chance with them?

You can try for a pay for delete from Bank of America but generally it never works. They will not give you anything in writing and will tell you that they can't. Many times they lie and tell you if it is paid they will remove you but they don't

if they do not remove you, you will be able to find a bank.. it will not be super easy but it is possible, i found a local credit union that opened one for me. :)