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tmcgill

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About tmcgill

  • Rank
    Chexsystem Black Belt Guru
  • Birthday 10/24/1953

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  • Location
    Dallas, Texas

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  1. **Possible Strategy: How is the account listed? Any fraud indicator? 1) Check for any inaccurate reporting; Reporting date, amount, any identifying information. 2) Contact the branch where the account was opened. (Contact the manager) Will they accept a PFD (pay for delete)? Or a paid entry? 3) Find a non-EWS account. (They have stated they report for 5 years). EWS is often a deal breaker for opening and an maintaining account. It depends on the bank, but EWS is considered the watchdog CRA for bad account activity. NOTE: Were there any issues with the account? WF had serious issues in the past opening accounts without the accountholder's permission.
  2. The Chexsystems' website doesn't indicate a charge for the report. I get the free annual report each year, and requested one years ago when I was declined by a bank. (no charge) I'll call and verify if there is free, unlimited access.
  3. Contact BOA and request the removal. If it is not removed in five business days, use the dispute process.
  4. Will review and post additional info: Approval process, operational issues, options and other features, etc.
  5. SOFI Money: With new banking opportunities, always Google and Bing the bank name, adding the word "complaints". I like to review both positive and negative comments. All banks will have some negative comments, but consistent negative comments from individuals who may not know one another are flags you want to consider if you bank with them. I'll contact them and get more info on their approval process. https://www.consumeraffairs.com/finance/sofi.html?page=2#sort=top_reviews&filter=1
  6. Will check them out. Do you know what was used to approve?
  7. Verification In the Time Of Corona Contacting financial institutions to verify and update approval policies is taking longer than expected. In the interim, continue to use the current list MCA created, and search this forum for user input and updates. Post if you have questions or need additional help. MCA's Site: https://checking-plus.com/
  8. When you close an account, always get a final paper statement - or other proof in writing that the account was closed. If Wells Fargo re-opened or never closed the account, you should have gotten an NSF notice and monthly statements. Did you get those at your new address?
  9. EWS has a legal requirement to remove and not report obsolete data. They are not bound by the bank, but by federal law.
  10. Often, service reps don't know the law or aren't trained how to respond. There is positive or negative data period. They can't report "regular account data" for 8 or 9 years if it is negative. Like Chexsystems, they made an internal decision to remove negatives after 5 years. The FCRA, however, requires removal after 7. Bank LP departments will try to submit old data to EWS to get you to pay, but that violates the FCRA. EWS doesn't care about consumers, they want to satisfy their subscribers, so they call negative data "regular account activity". As always, you have to push back using the law. EWS meets the FCRA definition of a specialty consumer reporting agency. 15 U.S.C. § 1681a - U.S. Code - Unannotated Title - Nationwide specialty consumer reporting agency - The term “nationwide specialty consumer reporting agency” means a consumer reporting agency that compiles and maintains files on consumers on a nationwide basis relating to-- (1)  medical records or payments; (2)  residential or tenant history; (3)  check writing history; (4)  employment history;  or (5)  insurance claims Chexsystems and Telecheck use to play that game years ago - saying they weren't a CRA, until an onslaught of regulatory complaints and lawsuits. EWS is violating federal law when they don't remove negative data 7 years after the Date of First Delinquency (DOFD). In the case of banking accounts, usually the closing or charge off date. NOTE: **Always pull reports annually to check your files. I pull mine each February. Since you've disputed, if they don't remove the obsolete data within 14 business days, the next steps are formal legal complaints. Let us know if there is no removal, and we'll help with the complaints.
  11. They use Chexsystems.
  12. Their website states there is no fee for incoming wire transfers. "When receiving a wire to your Ally Bank account: We don't charge you to receive a wire (domestic or international) to your Ally Bank account but the bank sending the wire may charge you a fee." www.ally.com/search/?term=wire+transfer+fees&context=&domain=www.ally.com&filter=#term=wire%20transfer%20fees
  13. Q: Sometimes I need a concise answer regarding a bank's policies and whether they use Chexsystems or not. Why is the information you post sometimes inconsistent. A: Unfortunately, it has always been a tightrope. There are no cookie cutter solutions. What works today may change next month. Banks may change their loss prevention policies if they: (Some of the factors) 1) Get new loss prevention or executive management. 2) Suffer a lot of checking account charge offs. 3) Merge with another financial institution. 4) Upgrade or modify their Chexsystems or Telecheck subscriptions. 5) Ease their screening policies to get new depositors. 6) Change or add an additional CRA such as EWS, telecheck, etc. 7) Get increased oversight by a state attorney general or other regulatory agency. Bank screening is a fluid, ever-changing process. We try hard to post up to date information, and give a thumbs up to all the CB members who post their experiences. A best practice is to call the bank or credit union and double check what they use, after reviewing our lists and suggestions. This can save time and another Chexsystems inquiry.
  14. I've heard that freezing Chexsystems worked for some. They were able to open and keep accounts with Ally. Wait two statement cycles before starting direct deposit or bill pay. How old is the negative Chexsystems information? Others have told me they have negative entries nearing the 5 year mark and were approved. **With negative Chexsystems or EWS file info, always keep a non-Chex non-EWS account. Maintain access to needed funds by having more than one account: Account #1 - Household Bills Only Account #2 or Debit Card - Point of Sales and Internet Purchases Only Account #3 - Emergency Funds/Savings Only Option #4 - Investments Only
  15. Wait two statement cycles before starting direct deposit or auto payments. Also, have a backup non-chex account.

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