ChexSystems Help

[Anonymous]

Found out recently that US Bank has closed a checking account for $-8 in unpaid overdraft fees and then tacked on another bringing it to $-38. The account was closed on Nov 27th2019, and I paid it off on Monday. Would this be reported to Chexsystems, and what else gets reported? I have overdrafted on the account before, but from what I can tell it only reports if the account is closed from unpaid overdraft fees. Would it affect my already open account with Schwab and Discover CC? Thanks

[FinStar]

Hello @Anonymous and welcome to the forums.

Unfortunately, and to my understanding, if the account was closed with on OD balance, it will be reflected in Chex.  It should not impact existing deposit accounts AFAIK, but if you were to open a new deposit-type of account, CD, etc., it will likely surface in Chex.

[Anonymous]

Interesting, I had a customer service person tell me that's it gets reported of the account is $-.01, another said it does if it's over $5 and then I had 2 branch managers say the same thing at, it doesn't get reported if it's under $50 since it's so little of an amount. I believe more so the branch managers since US Banks customer service seems to be clueless lately. Also does it report all overdrafts on the account or just if it was closed from an overdraft and whatever else?

[CreditCuriosity]

Hopefully you at least paid this off?  A negative on Chexs will make your life miserable for 5 years opening new bank accounts or CU accounts as they will see that entry and say nope.  I would also goodwill the heck out of Us Bank after paying off if it indeed does report to Chexs, telecheck or EWS...  

Edit: see you paid it off, mis-read it... Wait to see if it reports if it does then see if you can get it removed for a misunderstanding as a bad mark on chexs can be way worse than one on a CRA depending on circumstance..

[Anonymous]

What would I say on getting it removed if it does? The managers understanding was that since I paid it off with in the first few weeks and it was under $50 it's unlikely they reported it.

[Anonymous]

Does anyone know at what number US Bank reports an OD account to Chexs etc, I've been getting mixed responses from branch managers and customer service. Branch managers all say, it doesn't if it's under $50, one customer service rep said anything over 1¢, and the other m said anything over $5. I'm believing the Branch managers here since they're consistent with the information. Any help is appreciated.

[FinStar]

@Anonymous, since the premise of the topic is the same regarding the USB OD and Chex, please refrain from creating multiple threads on basically the same subject.

At this point, wait until you have an updated Chex report on hand to determine whether any negative entry from USB displays and go from there.

[SouthJamaica]

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@Anonymous wrote:
Does anyone know at what number US Bank reports an OD account to Chexs etc, I've been getting mixed responses from branch managers and customer service. Branch managers all say, it doesn't if it's under $50, one customer service rep said anything over 1¢, and the other m said anything over $5. I'm believing the Branch managers here since they're consistent with the information. Any help is appreciated.

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I once had an unused account in which the terms were changed, and a maintenance fee added, without my knowledge. The monthly fee resulted in an overdraft of around $1.38 or so. The bank added an overdraft fee of $30, then closed the account, again without my knowledge, reporting it to Chex as an account closed with an overdraft of ~ $31.38. I only learned of this when a bank turned me down for a checking account due to my Chex report.

[CreditCuriosity]

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@SouthJamaica wrote:

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@Anonymous wrote:
Does anyone know at what number US Bank reports an OD account to Chexs etc, I've been getting mixed responses from branch managers and customer service. Branch managers all say, it doesn't if it's under $50, one customer service rep said anything over 1¢, and the other m said anything over $5. I'm believing the Branch managers here since they're consistent with the information. Any help is appreciated.

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I once had an unused account in which the terms were changed, and a maintenance fee added, without my knowledge. The monthly fee resulted in an overdraft of around $1.38 or so. The bank added an overdraft fee of $30, then closed the account, again without my knowledge, reporting it to Chex as an account closed with an overdraft of ~ $31.38. I only learned of this when a bank turned me down for a checking account due to my Chex report.

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Yes DDA account you gotta be careful of especially if min balances if terms chance or that can hurt if they add fees without telling you or they get by you.. scary

[Anonymous]

There are banks that do not use ChexSystems. You can check the list of such banks in this article https://reliablebanks.com/district-of-columbia-dc-non-chexsystems-banks . So opening a bank account is not so difficult even with a bad credit history.