summary of information reported to ChexSystems

summary of information reported to ChexSystems

 

Activity Description When It’s Deleted
Involuntary Account Closure Bank closes your account usually “for cause” (e.g., writing too many bad checks or fraud) After 5 years (unless you successfully dispute the listingor the bank or ChexSystems deletes the listing sooner)
Bounced Checks and/or Overdrafts Usually for multiple instances
Unpaid Negative Balances Usually for outstanding overdraft/nonsufficient funds (NSF) fees or other charges
Savings Account, Debit Card or ATM Abuse For risky or dishonest behavior (e.g., depositing empty envelopes at ATM or frequently exceeding transfer limit)
Outstanding Checks in SCAN Database of Returned Checks & Instances of Fraud Checks issued or sent to a collection agency; returned or fraudulent checks
Suspected Fraud or Identity Theft For altering checks or providing false information on an application
Inquiries Initiated by you, a bank, an employer, a creditor, or other “permitted” party After 90 days or no more than 3 years if initiated by you; otherwise after 5 years
Lost Checks & Debit Cards Routine reporting (not necessarily negative information but can indicate possible fraud) After 5 years (except check-ordering and application histories and unless you successfully dispute the listingor the bank or ChexSystems deletes the listing sooner)
Check-Ordering History from Past 3 Years
Number of Accounts Applied for in Past 90 Days
Social Security Number/Driver’s License Validation and/or Verification

 

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