ChexSystems - fraud reported by BOA trying to get removed/changed

[Anonymous]

I've been reported to Chexsystems in 06/2013 for apparent fraud activity and BOA closed my account as it was in the negative. 

07/2014 I paid BOA in full and attempted to open a bank account with them. They aloowed me to open account but it was quickly closed due to my "fraud report" in chex systemes. It is reported as paid.

I have written 4 certified letters to BOA and 1 to chex systems regarding the fraud report on my system. Chexsystems has refered me to BOA. 

BOA refuses to remove the fraud status from the report. At this point I don't know what else to do but to move forward with a lawsuit???

Any advice and help would greatly appreciated. I am willing to retain a lawyer if I can be pointed in the right direciton.

Thanks for all your help!

-Ben

[dursty87]

I may be wrong but although it's paid it can/will remain in Chex for up to 5 years. That is unless the bank agrees to remove early.

[2b2rich]

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@Anonymous wrote:

I've been reported to Chexsystems in 06/2013 for apparent fraud activity and BOA closed my account as it was in the negative. 

07/2014 I paid BOA in full and attempted to open a bank account with them. They aloowed me to open account but it was quickly closed due to my "fraud report" in chex systemes. It is reported as paid.

I have written 4 certified letters to BOA and 1 to chex systems regarding the fraud report on my system. Chexsystems has refered me to BOA. 

BOA refuses to remove the fraud status from the report. At this point I don't know what else to do but to move forward with a lawsuit???

Any advice and help would greatly appreciated. I am willing to retain a lawyer if I can be pointed in the right direciton.

Thanks for all your help!

-Ben

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From what I know, most banks do not report 'fraud activity' for simply having an over drawn account.  It's usually more related to the reason the account is overdrawn, for example if you deposited a check into your account and wrote checks that were returned because the check you deposited bounced.  

Another thing I would be more concerned about if I were you, is the EWS reporting.  EWS makes ChexSystems look like a slap on the wrist.  EWS (Early Warning Systems) was actually formed (and is owned) by about 5 LARGE banks, and one of the owners is BoA.  I can only guess that if BoA reported you to ChexSystems, they would EWS also, but I can't say for sure.

I'm not trying to make you feel worse, I'm just saying that if you ARE able to get this cleared, you will want to make sure that you are not in EWS as well.

Good Luck

[Anonymous]

BOA likely reported to Early Warning Services too, and they keep records for 7 years. BOA is likely a lost cause at this point. Try a different bank / credit union. Be wary of trying too many different ones though, since that can result in numerous inquiries on ChexSystems.

In many instances, a bank utilizing ChexSystems will overlook an old, paid collection, especially if the amount was relatively small. However, the notation for the entry can cause problems...

Have you viewed your ChexSystems report and/or been told exactly what the notation said? If it says something to the effect of "Non-Sufficient Funds (NSF) Activity", "Account Abuse", etc you should be OK. However, if the notation says something to the effect of "suspected fraud", expect an uphill climb; disputing with ChexSystems to get it changed, and possibly EWS too.

Order your free ChexSystems report - very simple and should arrive in about a week by postal mail.

https://www.consumerdebit.com/consumerinfo/us/es/chexsystems/report/index.htm

A free EWS report can also be ordered, but not as easily - must be done via phone. They may try to ask about your employment, check numbers, etc ... you don't need to provide that, nor should you. Any extra info volunteered may be added to your file; shared with others. The minimum required information needed: Your name, street address, social security number, drivers license number (if asked), previous address (if you have moved within past few years).

http://www.earlywarning.com/consumer-information.html

An alternative is getting a Wal-Mart Money Pre-Paid Card - go with the preferred, black one ... costs $4 to start, and can be opened on-line with a deposit of low as $20. In about a week a personalized card will arrive. DD $500+ per month and $3 monthly fee is waived. Withdrawals are free at Speedpass ATMs (many large chain convenience stores have these) and also point of sale (ie. at the supermarket) cash back is free. Includes free bill pay, which one can use to pay those who don't accept debit cards. Not ideal, but works great for many.

[CreditOCDinCali]

I've experienced the same exact issue as you and BofA removed the fraud mark from chexsystems immediately and I was finally able to open up am account with my local credit union. Do not try to open anymore accounts while you're in chexsystems- future banks will hold that against you. I wrote a letter to the CEO of BofA- I told the complete, honest truth and it took only a few days for them to decide of they were going to delete it or not and they did. I recommend you write a letter (email) to the CEO. Good Luck!

[Anonymous]

Hi CreditOCDinCali, can you help me with composing a letter - I mean do you have a template of what you sent? I am basically in the same situation and think about writting aletter to CEO of TFC bank.

[Anonymous]

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@Anonymous wrote:

BOA likely reported to Early Warning Services too, and they keep records for 7 years. BOA is likely a lost cause at this point. Try a different bank / credit union. Be wary of trying too many different ones though, since that can result in numerous inquiries on ChexSystems.

In many instances, a bank utilizing ChexSystems will overlook an old, paid collection, especially if the amount was relatively small. However, the notation for the entry can cause problems...

Have you viewed your ChexSystems report and/or been told exactly what the notation said? If it says something to the effect of "Non-Sufficient Funds (NSF) Activity", "Account Abuse", etc you should be OK. However, if the notation says something to the effect of "suspected fraud", expect an uphill climb; disputing with ChexSystems to get it changed, and possibly EWS too.

Order your free ChexSystems report - very simple and should arrive in about a week by postal mail.

https://www.consumerdebit.com/consumerinfo/us/es/chexsystems/report/index.htm

A free EWS report can also be ordered, but not as easily - must be done via phone. They may try to ask about your employment, check numbers, etc ... you don't need to provide that, nor should you. Any extra info volunteered may be added to your file; shared with others. The minimum required information needed: Your name, street address, social security number, drivers license number (if asked), previous address (if you have moved within past few years).

http://www.earlywarning.com/consumer-information.html

An alternative is getting a Wal-Mart Money Pre-Paid Card - go with the preferred, black one ... costs $4 to start, and can be opened on-line with a deposit of low as $20. In about a week a personalized card will arrive. DD $500+ per month and $3 monthly fee is waived. Withdrawals are free at Speedpass ATMs (many large chain convenience stores have these) and also point of sale (ie. at the supermarket) cash back is free. Includes free bill pay, which one can use to pay those who don't accept debit cards. Not ideal, but works great for many.

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Thank you for your detailed explanation. A lot of useful information and helpful tips. Although I have never experienced this problem, I will be ordering a free report from both chexsystems and EWS. It never hurts to be armed with information. Thanks again!