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About tmcgill

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

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    Dallas, Texas

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  1. 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
  2. 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.
  3. 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
  4. Wait two statement cycles before starting direct deposit or auto payments. Also, have a backup non-chex account.
  5. Your account and card agreements govern which transactions are in violation. Online gambling is often the trigger for a freeze or shutdown. Whether its reported to Chex or EWS, depends on the financial institution. I would ask them if - and where its reported.
  6. kaylee34 is correct. It isn't always the security questions. There is a discrepancy between your credit file header, and info on the application. Often it is an address, exact name listing or SSN. I've seen a single transposed number in an SSN cause denials. ** Also pull Lexis to see what they have as your identifying info.
  7. Chexsystems and EWS are marketing their services as another tool to get a "complete financial analysis and profile" for consumers.
  8. Anyone else get an email saying they're off the wait list? Any benefits to this account?
  9. They use Chex and EWS. (Click link above for previous post)
  10. Thanks for the update.
  11. The CFPB outlines checking accounts and adverse actions. I would send them a certified letter or fax stating you simply want to know who supplied them with the felony information. State if they don't supply the information, you will make the request through the US Office of the Controller (OCC) and the Consumer Financial Protection Bureau (CFPB). Federal laws (ECOA and FCRA) allow you to get an adverse action letter. Consumers have the right to verify the accuracy of information that causes an account to close. https://www.consumerfinance.gov/about-us/blog/denied-bank-account-heres-what-you-should-know/ **We just want you to know where they got the information. This will help you know where to bank in the future.
  12. Getting the exact source for the felony record will help with future applications. They had to get the information from some source. Call and ask them point blank. If they won't tell you by phone, tell them you need something in writing. Also, mention you pulled Chexsystems and EWS and those reports are clear (I know you mentioned EWS hasn't sent the report yet).
  13. Keep us updated. Also, when an adverse action occurs, you can ask for something in writing that indicates which credit reporting agency was used as the basis for the closure. Did they indicate it was Chexsystems? If not, I would ask them which one was used. We're trying to pinpoint if it was an internal, federal database - or another source where they got your felony information. This helps for any future apps.
  14. Federal law does not allow them to wait for years. They have roughly 6 months to start the 5-7 year period. This was done exactly for the reason you asked about. To prevent prolonging the negative reporting period. *Example: A account is overdrawn in January 2020. They would have until July 2020 to close or charge off the account, and start the 5-7 year period.

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