Ews

[Sbrooks1]

I will be clear from 1 account in Chex this month, but EWS is 7 years. I need to get a traditional checking before I app for mortgage as currently use Go bank which does not have the capability to wire funds . I was worried about Chex and now find out there is a worse evil in EWS! Any ideas!?

[Anonymous]

What is EWS?

[Anonymous]

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@Anonymous wrote:
What is EWS?

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I am curious as well.

[iv]

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@Anonymous wrote:
What is EWS?

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As with most CRAs, their info is in http://files.consumerfinance.gov/f/201604_cfpb_list-of-consumer-reporting-companies.pdf

Early Warning Services

Assists financial institutions, check acceptance companies such as retail merchants, payment processors and other financial entities in detecting and preventing fraud associated with bank accounts and payment transactions.

Early Warning is co-owned by Bank of America, BB&T, Capital One, JPMorgan Chase and Wells Fargo.

The company will provide one free report every 12 months if you request it.

Earlywarning.com

800-325-7775

Early Warning Services, LLC
16552 North 90th Street, Suite 100

Scottsdale, AZ 85260

Not all banks use or report to EWS.  Have you pulled your annual report (via phone...) from them recently? (You may have nothing to worry about.)

[Sbrooks1]

Great explanation iv! I have not requested but will do so. I'm only assuming if Chase blackballed me on Chex then it's also on EWS! What do I do then! I don't dislike Go Bank , but no wiring capability!! One step forward and two steps back!!

[Sbrooks1]

I need a bank that uses Chex and not EWS as Chex will be clear this month !!

[iv]

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@Sbrooks1 wrote:
I need a bank that uses Chex and not EWS as Chex will be clear this month !!

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Check local credit unions, or even some major banks offer "second chance" checking programs. (WF "Opportunity Checking" for example)

[Sbrooks1]

How will I know if CU pulls EWS!?

[iv]

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@Sbrooks1 wrote:
How will I know if CU pulls EWS!?

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Well, some don't pull Chex or EWS at all - search online or ask here about the specfic CUs you are considering in your area.

But I was more suggesting the 2nd-chance offers - many CUs will explicitly list "Second Chance" or "Fresh Start" or "Opportunity" as one of their checking types.  These account types are targeted at anyone with Chex/EWS issues - their terms may not be as good, but after 6-12 months (assuming "good behavior") can frequently be converted into "normal" checking accounts.

Take a look at https://www.nerdwallet.com/blog/banking/second-chance-checking/ for instance.

[Anonymous]

Yes i believe I posted a website before for second chance checking but if you google the specific term " second chance checking" you will get a list.