I got my EWS report today

[Anonymous]

So I am not actually that upset about the information in this report. Much to my surprise, despite my bank offering Zelle since like 6 months after it launched, they don't report transactions to EWS at all. My accounts with 1stBank aren't even on this list.

BBVA, NFCU, and SSFCU report all ACH transactions to EWS. 

Discover and BBVA are the only inquiries listed on the report. BBVA actually pulled me twice - once 12/2018 when I got my credit card and again 10/2019 when I opened my checking.

I am very happy to see that DCU and 1stBank both choose not to report my transactions to EWS and this report was generated today so it looks like Langley and Alliant don't use EWS either since I would have an inquiry on there from them.

Its worth noting that while ACH transactions are logged for NFCU and SSFCU, BBVA is the only one that reports the balance too.

It is nice to see that there is still some information gatherer that doesn't have a ton of info on me. Its kind of surprising that 1stBank isn't listed on here given how heavily I use Zelle (monthly to pay rent and also debit card to debit card to quickly move money between 1stBank and my accounts that don't have Zelle natively) but I'm not complaining. If you went by the balance shown with EWS for BBVA, I have $25 to my name. 🤷‍♂️

[M_Smart007]

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@Anonymous wrote:

If you went by the balance shown with EWS for BBVA, I have $25 to my name

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Gosh I would have $40 to my name

[Anonymous]

Lucky you are not banking with the core 7 banks. They exchange every single ACH as well as balances.

Bank of America, Capital One, BB&T, Chase, U.S. Bank, Wells Fargo and PNC
My EWS file is disturbing 

[M_Smart007]

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@Anonymous wrote:

Lucky you are not banking with the core 7 banks. They exchange every single ACH as well as balances.

Bank of America, Capital One, BB&T, Chase, U.S. Bank, Wells Fargo and PNC
My EWS file is disturbing 

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That is disturbing, I bank with all those except "Capital One, BB&T,"

[Nomad3]

Why does the EWS have ACH and balances information? I figured it would be for things like NSF/etc

Thats kind of scary they have that "detailed" kind of information

[Anonymous]

It has ACH and balance because it was designed to go beyond NSF. NSF is peanuts to banks. Really it was and to some degree still is a revenue stream.

EWS was meant to address all the other types of bank fraud where the banks  actually lose money. Mainly kiting (think that's how it is spelled). Basically floating money you don't really have between banks. It is mostly  done with checks but ACH too. 

[Anonymous]

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@Anonymous wrote:

Lucky you are not banking with the core 7 banks. They exchange every single ACH as well as balances.

Bank of America, Capital One, BB&T, Chase, U.S. Bank, Wells Fargo and PNC
My EWS file is disturbing 

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Yeah I am sure BBVA would be reporting everything but I don't use that account. 

What's interesting is two of my ACH transfers on my NFCU account were actually reported by Capital One instead of by NFCU. 

I expected mine to be a lot worse than it is. I thought for sure that 1stBank would be reporting everything. I'm thrilled that they are not doing so. They partnered with EWS for Zelle back in 2017 and I figured that was part of the package. 

[Anonymous]

So you're telling me that this company tracks "all" ACH transfers, the amount and where it went and from whom?

This is very disturbing indeed. And here I though by not allowing Amex "access" to all my financials, I was keeping myself "private".

Guess not! And I also assume that anyone who pays for this report can also see that info?

No wonder ID fraud is so easy and rampant...

Seems my very old family member was right, you can't trust Banks with anything. lol

[Anonymous]

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@Anonymous wrote:

So you're telling me that this company tracks "all" ACH transfers, the amount and where it went and from whom?

This is very disturbing indeed. And here I though by not allowing Amex "access" to all my financials, I was keeping myself "private".

Guess not! And I also assume that anyone who pays for this report can also see that info?

No wonder ID fraud is so easy and rampant...

Seems my very old family member was right, you can't trust Banks with anything. lol

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From the report I saw it didn't list accounts the ACH's came from, just dates, amounts, and which source reported that transaction but it did list the full account number and routing number, my social security number, my date of birth, and my drivers license number for all of the accounts that are listed on the report. 

Since they don't redact anything on these reports, when they inevitably get breached it's going to be a huge problem. Equifax was bad but this one has even more dangerous info. 

[Anonymous]

Smart that is disturbing!!