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EWS vs ChexSystems


MP80
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49 minutes ago, IvyMgmt said:

Hi can you say that again I am confused what you are asking...

I received invitations from a number of banks and they hoped that they would use SUB to attract me to open savings and checking accounts with them.

 

Where do these banks look for new customers? Probably from EWS?

 

The bank is intertwined, for example, Capital One sent me three balance transfer checks, but the checks must then passed through the Wells Fargo branch. I deposit the check into my US Bank account, now, US Bank requires Well Fargo to make an electronic transfer, and Wells Fargo transfers the funds and reports the check to the EWS. Wells Fargo also owns EWS which is how Wells Fargo sent the spam to my mailbox.

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2 hours ago, MP80 said:

When people are eager to survive, I can admit why they overdraw their accounts, but some people don't care anymore, they only care about the current situation.

 

Banks have a cavalier attitude, they do make mistake by human error.

Exactly.  People's checks get returned after they take multiple reckless, desperate, and clearly self-defeating actions.  

 

Your caution will be lost on people who can't even foresee consequences that take as little as one business day to present themselves.

 

That was my point.  :) 

Edited by cv91915
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34 minutes ago, MP80 said:

I received invitations from a number of banks and they hoped that they would use SUB to attract me to open savings and checking accounts with them.

 

Where do these banks look for new customers? Probably from EWS?

 

The bank is intertwined, for example, Capital One sent me three balance transfer checks, but the checks must then passed through the Wells Fargo branch. I deposit the check into my US Bank account, now, US Bank requires Well Fargo to make an electronic transfer, and Wells Fargo transfers the funds and reports the check to the EWS. Wells Fargo also owns EWS which is how Wells Fargo sent the spam to my mailbox.

Wow!

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1 hour ago, cv91915 said:

Exactly.  People's checks get returned after they take multiple reckless, desperate, and clearly self-defeating actions.  

 

Your caution will be lost on people who can't even foresee consequences that take as little as one business day to present themselves.

 

That was my point.  :) 

It all depends on the credit and the level of your three-digit number. You and I absolutely care about whether all the bill payment processes we advocate are smooth and clear. If we don't, we will face serious difficulties and must deal with them immediately. That's why the automatic payment is set.  :wave:

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45 minutes ago, cv91915 said:

EWS is owned by a consortium of seven of large financial institutions.

Early Warning Services (EWS) is owned by Bank of America, BB&T, JPMorgan Chase, PNC, Wells Fargo and Capital One. Formed to combat fraud in the financial industry, EWS makes it possible for banks to easily exchange information between organizations in order to prevent and combat fraud.

 

I have a relationship with four of them.  

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15 hours ago, IvyMgmt said:

I aspire to be where you are one day!

Thank you!  :wave:

 

Seriously, I am just an ordinary person who has received many blessings. I think there are a lot of people here and other helpers in the CB community who can guide you through your goals or at least move toward your goals, which is a sign of a major change in credit development. Therefore, please keep the faith and good luck! :D

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  • 4 weeks later...

Does anyone have any advice on how to dispute or be removed from EWS? I am currently settling a dispute with US Bank. I closed all my accounts with them. They sent me to collections for a very small amount of money (couple hundred dollars) and I'm disputing the charge. I recently tried to open a checking account with USAA and was denied because of EWS. I'm assuming US bank is to blame. When I called EWS they just told me I could get a copy of my report. Wouldn't tell me how to get the block removed. I find it funny that I am being denied by a bank to give them money lol. I'm not applying for a credit account or anything, just a spot to house my savings and checking accounts. 

 

Anyway, any advice would be appreciated! 

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2 hours ago, djones56 said:

Does anyone have any advice on how to dispute or be removed from EWS? I am currently settling a dispute with US Bank. I closed all my accounts with them. They sent me to collections for a very small amount of money (couple hundred dollars) and I'm disputing the charge. I recently tried to open a checking account with USAA and was denied because of EWS. I'm assuming US bank is to blame. When I called EWS they just told me I could get a copy of my report. Wouldn't tell me how to get the block removed. I find it funny that I am being denied by a bank to give them money lol. I'm not applying for a credit account or anything, just a spot to house my savings and checking accounts. 

 

Anyway, any advice would be appreciated! 


Good luck.

 

You will never get "removed" from EWS.  They don't even allow you to place a freeze on your file.  I believe they do have a dispute mechanism, but basically they will just ask US Bank for their input and eventually just tell you to kiss off without changing anything on your report.  
 

Your best bet is to either find a bank that doesn't check EWS for account openings or else find a solution with US Bank.  
 

One thing I am not sure of is what happens to the derogatory data US Bank reported once you do find a solution with them.  Will it get removed?  Will they just update it to show that the problems you once had with them were solved?  If they just update to show it is now ok, but evidence of the stain still remains, will other banks still want you?

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2 hours ago, djones56 said:

Does anyone have any advice on how to dispute or be removed from EWS? I am currently settling a dispute with US Bank. I closed all my accounts with them. They sent me to collections for a very small amount of money (couple hundred dollars) and I'm disputing the charge. I recently tried to open a checking account with USAA and was denied because of EWS. I'm assuming US bank is to blame. When I called EWS they just told me I could get a copy of my report. Wouldn't tell me how to get the block removed. I find it funny that I am being denied by a bank to give them money lol. I'm not applying for a credit account or anything, just a spot to house my savings and checking accounts. 

 

Anyway, any advice would be appreciated! 

welcome to CB!

 

what exactly went to collections? why did you close your accounts?

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  • 1 month later...

Sooooooooo I finally got around to trying to do something about this jerkwads.. they sent me a stupid letter in the mail dated July 3 which kicked off all of this and this is the letter they filed with the CFPB..

 

Thank you for contacting Early Warning. We are committed to providing a convenient and positive experience throughout this process. This letter is in response to your CFPB complaint, received on December 3, 2019.

 

Unfortunately we are unable to place a security freeze on your information. The FCRA requires nationwide consumer reporting agencies to place security freezes. Early Warning is a specialty consumer reporting agency and is not required to place security freezes. If you think you’ve been a victim of fraud or identity theft, you should contact one of the nationwide credit reporting agencies (TransUnion, Experian, or Equifax) and place a security freeze on your credit report.

 

Sincerely,

 

Consumer Services

 

 

 

 

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2 hours ago, IvyMgmt said:

Sooooooooo I finally got around to trying to do something about this jerkwads.. they sent me a stupid letter in the mail dated July 3 which kicked off all of this and this is the letter they filed with the CFPB..

 

Thank you for contacting Early Warning. We are committed to providing a convenient and positive experience throughout this process. This letter is in response to your CFPB complaint, received on December 3, 2019.

 

Unfortunately we are unable to place a security freeze on your information. The FCRA requires nationwide consumer reporting agencies to place security freezes. Early Warning is a specialty consumer reporting agency and is not required to place security freezes. If you think you’ve been a victim of fraud or identity theft, you should contact one of the nationwide credit reporting agencies (TransUnion, Experian, or Equifax) and place a security freeze on your credit report.

 

Sincerely,

 

Consumer Services

 

 

 

 

Hi, ivy,  :wave:

 

Thanks for the update! No one seems to be able to freeze it. Excessive exposure to a person's financial privacy, so, even the CFPB is powerless. I wonder if there are any ombudsman who can circumvent this fix.

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On 10/7/2019 at 10:36 AM, tmcgill said:

I post regularly in the Chexsystems forum to get your annual reports from Chexsystems, Early Warning and Telecheck.

 

Review for any errors in your personal information and incorrect account data. Most wait until they need a personal or business account, or have e-check problems, and then try to fight them. Had an email recently where a new renter got approved for a new apartment, but the property would not accept paper or online check payments because Telecheck was still reporting a bad check from 8 years ago. All three specialty CRAs must follow the FCRA regarding negative reporting periods.

This happened to me a couple of years ago! They made me pay every month using certified funds. I believe they were using a software called Real Page, which is associated with Wells Fargo. They did this because I had one returned check for $30 showing on either Telecheck or ChexSystems.

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Just a reminder:

Early Warning Services must follow the FCRA. You go through the dispute process just like the big three CRAs.

 

They are allowed to report negative data for 7 years, but their reps have said over the phone they only report for 5.

 

 

 

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  • 2 weeks later...
On 12/17/2019 at 5:39 PM, MP80 said:

Hi, ivy,  :wave:

 

Thanks for the update! No one seems to be able to freeze it. Excessive exposure to a person's financial privacy, so, even the CFPB is powerless. I wonder if there are any ombudsman who can circumvent this fix.

 

I don't know and I am getting pretty sick of them right now I sought a lawyer.. I am just sick of them..

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On 12/17/2019 at 5:39 PM, MP80 said:

Hi, ivy,  :wave:

 

Thanks for the update! No one seems to be able to freeze it. Excessive exposure to a person's financial privacy, so, even the CFPB is powerless. I wonder if there are any ombudsman who can circumvent this fix.

.. and hi there Happy New Year 🙂

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On 12/26/2019 at 8:13 PM, tmcgill said:

Just a reminder:

Early Warning Services must follow the FCRA. You go through the dispute process just like the big three CRAs.

 

They are allowed to report negative data for 7 years, but their reps have said over the phone they only report for 5.

 

 

 

 

Hi there this is not just about disputes but actually how they report and share our data.. all of my social security number is exposed, account numbers, how my money goes in and out of active bank accounts and their amounts.. you can't even expose more than 4 digits of a credit card number anymore on any kind of identification.. why are they still allowed to do and report.. in addition the FCRA says any credit reporting agency must allow you to FREEZE your account.. not them they quote the FCRA and then say they aren't a normal agency.. what oh h double hockey sticks naw!

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  • 2 years later...

Even if you could freeze EWS, banks could still look at the report for the purpose of account reviews or prescreening (which are exempt from freezes).

 

The only solution here to prevent your information from being shared is to pick a bank that doesn't use or report to EWS.

 

If your goal is to prevent identity theft, keep in mind that EWS won't place fraud alerts either. The closest you can get to a freeze/fraud alert is the "Fraud Victim" notation, but this can only be placed by financial institutions, not by you.

 

EWS obviously doesn't care about the well-being consumers. After all, they make their money from banks.

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11 hours ago, Militer said:

The only solution here to prevent your information from being shared is to pick a bank that doesn't use or report to EWS.

Besides BofA, Chase, Capital One, Wells Fargo, and US Bank, which bank are you planning to use to avoid EWS?

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Posted (edited)
On 6/2/2022 at 4:06 PM, MP80 said:

Besides BofA, Chase, Capital One, Wells Fargo, and US Bank, which bank are you planning to use to avoid EWS?

 

In general, most of the "big banks" use EWS.

 

I have accounts at Axos Bank, First Tech FCU, RBFCU, Affinity FCU, and Elevations. None of them have viewed my EWS report or directly reported information to EWS (though, since EWS owns Zelle, transactions made through Zelle may still appear even at banks that don't use EWS. You can prevent this information from being reported by not using Zelle).

 

However, it does seem that, over time, more and more financial institutions are switching to EWS from ChexSystems, which I find to be a concerning trend.

Edited by Militer
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Posted (edited)
14 hours ago, Militer said:

 

In general, most of the "big banks" use EWS.

 

I have accounts at Axos Bank, First Tech FCU, RBFCU, Affinity FCU, and Elevations. None of them have viewed my EWS report or directly reported information to EWS (though, since EWS owns Zelle, transactions made through Zelle may still appear even at banks that don't use EWS. You can prevent this information from being reported by not using Zelle).

 

However, it does seem that, over time, more and more financial institutions are switching to EWS from ChexSystems, which I find to be a concerning trend.

Thanks for the info, much appreciated!  :wave:

 

 I haven't used Zelle yet. However, it doesn't matter as long as you have other credit accounts with EWS-linked creditors that have access to the information. Some people might even get your information and then delete the query as well, which is a very clever move to not let you know they're checking you out, be careful. Hahaha!  

Edited by MP80
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On 6/13/2022 at 1:53 AM, Rogue said:
On 6/2/2022 at 3:06 PM, MP80 said:

Besides BofA, Chase, Capital One, Wells Fargo, and US Bank, which bank  CU are you planning to use to avoid EWS?

FTFY!

Hahaha!!! Can you substantiate that every bank utilized EWS?

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  • 3 weeks later...

Based on my last review,  i will add that Alliant CU, Ally Bank, Citizens Bank, T-Mobile Money/BankMobile/BMTX, Fidelity Investments (Savings), TIAA Bank, Keybank, Navy FCU, PNC, TD Bank, Goldman Sachs all report here.   Not everyone reports balance or trans history though. 

 

I have not figured out how they work. Inquiries stay on longer than 2 years as all of mine are from 2020 and some are already 25+ old. 

 

I have a field on SOME of the accounts (which have been closed) that says "Consumer Removed Date" which are like from 2016- 2018. but other accounts do not have that. There is also a status called "Closed-Purged" but that does not mean removed from EWS i guess. 

 

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Posted (edited)
2 hours ago, EvilMan said:

Based on my last review,  i will add that Alliant CU, Ally Bank, Citizens Bank, T-Mobile Money/BankMobile/BMTX, Fidelity Investments (Savings), TIAA Bank, Keybank, Navy FCU, PNC, TD Bank, Goldman Sachs all report here.   Not everyone reports balance or trans history though. 

To clarify, you mean "report here" that all these banks and credit unions report checking and saving accounts to the EWS, correct?

Edited by MP80
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