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That was a lot of useful information Steve. Thanks! Especially the above. I was not aware that soft inquiries are not visible to others who pull my report. Knowing that lets me know that I can find a bank locally that will suit my needs. So in the off chance this helps anyone searching for this type of info: It seems that the most privacy you can get with a bank is one that only verifies your identity using a "credit monitoring product" from one of the 3 CRA's in conjunction with a ID you bring in person. Please keep in mind that this is DIFFERENT then the banks that actually request your credit report through one of the CRA's. In that case there will be a hard inquiry on your report which is visible to anyone else who runs your credit.
Thanks for answering the question regarding Telecheck. In regards to banks checking my credit to verify my identity; I'm completely ok with that. But can you please clarify something if you know the answer: From what I know, if a bank DIRECTLY accesses my credit report then their name shows up under my soft inquires. I have seen this many times from my credit card issuers doing account reviews. However, I also see soft inquires from entities such as "experian credit works" and "transunion interactive" on my credit report. Meaning if a bank uses a service like this, then the actual bank requesting the information wont show up on my report. For example, I see many banks list in this forum use "total ID by transunion" or "deposit shield by equifax" to verify customers trying to open an account. So if I'm not mistaken when the banks run the check then the only thing that would come up on my credit report is the transunion/equifax check and not the banks actual name. Is this correct?
Hello all! I have a few very specific questions about Chex, Tele and EWS. I'm interested in opening a bank account that fits the criteria below. I'm hoping someone knows the answers. Here is a bit of applicable information that will help you answer my questions. I have nothing negative in my past as far as EWS/Chex/Tele. However, I have really bad credit. I currently reside in Florida. 1. I know when your credit report/Chexs/EWS report is pulled by a specific bank; it leaves a record of that in the form of a hard or soft inquiry for 2 years for credit reports and 5 years for Chex/EWS. Meaning anyone who gets a hold of that report afterwords knows from the "inquiry history" which bank ran a check on me. Does Telecheck have an "inquiry history" on their report as well? I could not find any information online on that. If the answer is no then I'm ok with opening an account with a bank that does only a Telecheck. But I also wanted to know just in case......I looked at the "pinned threads" which lists which institution runs which check. However, there no information on accepting out of state/area residents. So my question is the following: 2. Are there any banks/CU's outside my state (FL) that will accept FL residents who also do not run any checks (Tele/Chex/EWS/credit report)? I'm ok with online only banks as well in case anyone knows of one that fits my criteria. I'm ok with them verifying my identity using my SS card/DL/passport etc. but I dont want to be ran in the systems mentioned above. 3. Also, I looked at the pinned threads with a list of banks by state. I noticed that a lot of them say sometime along the lines of "they offer second chance checking" but doesn't specify any checks the bank/CU runs. Are these institutions ones that don't run any check if you open a 2nd chance checking or is the information not listed because its not known.