Jump to content

Chex Freeze Automatically Lifted after 5 Years


Menta33
 Share

The last post in this topic was posted 1048 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Recommended Posts

I just discovered that my Chex Security Freeze was removed after seeing on my TransUnion report, in the supplemental information section, info about Chexsystems and checking account inquiries.

 

I called them up and they informed me that previously they automatically cancelled your security freeze after 5 years, but their policy has now changed and they are now permanent. I explained removal without my permission sounded like a violation of California state law.

 

I had to call their freeze department at 800-887-7652 and request a new security freeze be added to my credit report again.

Link to comment
Share on other sites


For security so checking accounts are not easily opened in my name and to know when a new account requires a pull and decide if I want another inquiry.  You could get denied on opening a new checking account if you had too many opened recently.

Link to comment
Share on other sites

Consumer must be aware that more banks and CU are adopting EWS instead of ChexSysem. While visiting a branch, we often find a small sign on a banker's table that states, "All accounts application will be verified through ChexSystem," but what is missing there is a disclosure about EWS. In comparison to EWS, the Chex seems to be limited in scope of information it retains and report. EWS that was initially just an inter-banks risk data sharing, is becoming a hub for retail authentication and risk management. 

 

I would encourage everyone to request their comprehensive EWS report (not a short report) to review for authenticity.

 

A frozen ChexSystem have rerouted the institution (at least in my personal case) to pull EWS as well.

Link to comment
Share on other sites

Many banks and credit unions have customized programs that run a combo report; Chexsystems and EWS simultaneously for the same application. However, they only mention Chexsystems when you inquire after a decline.

 

I recommend getting free annual reports from both Chexsystems and EWS to review your data. FYI: I also request Telecheck and Lexis annually.

Edited by tmcgill
Link to comment
Share on other sites

The last post in this topic was posted 1048 days ago. 

 

We strongly encourage you to start a new post instead of replying to this one.

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

  • Similar Content

    • By layen850
      U.S. Bank Triple Cash Rewards Visa® Business Card
      Approved
      Experian
      Southern California
      Apped 12/20/21-12/27/21
    • By Sweethomemov
      I have been searching High and low trying to find who Pep Boys Commercial Net 30 account report to, but  it seems that i can only find one forum speaking about them. and the information provided on the forum is not very clear so hopefully someone can help provide what i the right answer
       
      Thanks in advance
    • By MarvBear
      REMINDER!
      Account Status 05 (Account transferred)
      to become obsolete for reporting
      Effective April 2022
       
      As noted within Exhibit 4 (Account Status Codes) in the Credit Reporting Resource Guide (CRRG®) since 2020, Account Status 05 (Account Transferred) will become obsolete for reporting in April 2022.
       
      Refer to the Transferred category within Exhibit 6 for a list of Special Comment Codes that should be used instead of Account Status 05. Refer to Frequently Asked Question & Answer 46 for guidance on reporting transferred accounts, and to Frequently Asked Question & Answer 47 for guidance on reporting sold accounts.
       
      All guidance that relates to accounts being transferred or sold has previously been updated to advise that the Account Status should be reported as of the time of transfer or sale so no further updates will be made to existing CRRG® FAQs (46 & 47) as a result Account Status 05 being retired.
       
      The Metro 2® Task Force recommends that data furnishers transition away from reporting Account Status 05 as soon as possible.
       
      If there are any questions, please e-mail metro2info@cdiaonline.org.
       
      Thank you,
      CDIA and Metro 2® Task Force
       
      Metro 2® Webinar:
      Retirement of Account Status 05 (Transferred)
      Dec. 8, 2021 @ 2pm ET
       
      Join us Dec 8, 2021 for the Metro 2® Webinar: Retirement of Account Status 05 (Transferred). Developed in collaboration with the Metro 2® Format Task Force, which includes experienced representatives from Equifax, Experian, Innovis, and TransUnion, this webinar will discuss how accounts that are transferred internally or to a servicer should be reported, as reflected in the 2021 Credit Reporting Resource Guide®.
       
      The reporting of accurate data is an essential obligation of data furnishers under the Fair Credit Reporting Act. Account Status 05 will be retired for Credit Reporting in April 2022.
       
      Presented by Pat Dubie, Training Consultant at Consumer Data Industry Association, this webinar will focus on the following discussion topics as they pertain to transferred accounts:
       
      ·     Use of the L1 Segment to identify the Identification Number and/or Account Number Change
      ·     Use of Special Comment Codes to identify the “transferred’ condition
      ·     FAQ #46
       
      Duration: 45 minutes
      Cost: $245 per registration (incl. up to 5 individual participants login)
       
      Your registration includes:
      ·   Access to the scheduled webinar and all handout materials
      ·   An audio re-play file of the event accessible online for up to one year, which can be shared internally with your team
      ·   Free download of the latest version of the Credit Reporting Resource Guide® (CRRG®)
      ·   The webinar is a single sign-on experience. 
       
      Register Today!
       
      If you can't join us for one of the scheduled webinars, you may register for the on-demand replay of this event. The on-demand replay as well as the handout material will be emailed to you approximately 48 hours after the purchase.
       
      To view CDIA's Metro 2® attendance policy, please click here. 
       
      Legal Disclaimer: CDIA's teleseminars are educational in nature and do not represent legal advice. If you need legal advice, consult an attorney in your jurisdiction.
    • By sfenescey
      Monifi/Mid first bank closed my account,while I realize they reserve that right, they told me in 3 different written communications that I would have access to my accounts until the 17th of November when in fact they revoked that access o. The 10th of November. Customer service has been less than helpful and has given me conflicting information. What are my options for an expedited solution? There’s 10140$ in there that they transferred right before they froze it and they continued to pull money from another account after the blocked my access. Thank you 
    • By Simon3
      can any one tell me which bureaus does the Wells Fargo Business Platinum card report to



  • Member Statistics

    • Total Members
      183,332
    • Most Online
      2,046

    Newest Member
    NoUserName
    Joined
×
×
  • Create New...

Important Information

Guidelines