Does the Fold debit card check ChexSystems?

[TyrannicalDuncery]

I'm interested in the Fold debit card and wondering whether they check ChexSystems or similar sources when you apply.

I was thinking they might, because the card comes with a checking account (seemingly through Sutton Bank).

[FireMedic1]

@TyrannicalDuncery 

It seems you link your bank account to this debit card:

"You may link an external, U.S.-issued bank account (an “Eligible Bank Account”) to a Fold Visa Product to load the card. Fold reserves the right to limit which banks or what types of accounts constitute an Eligible Bank Account. If you choose to link your Eligible Bank Account by providing the username and password you use to access your bank information online, you acknowledge your personal and financial information is being provided to Plaid Inc., that your personal and financial information will be collected, processed, transferred, or stored in accordance with Plaid Inc.’s Privacy Policy, and that you acknowledge and agree to Plaid Inc.’s Privacy Policy."

https://foldapp.com/legal/terms-of-service 

[TyrannicalDuncery]

Cool, makes sense. So to me, it sounds like you are saying that attaching it to an existing checking account decreases the likelihood that they would check ChexSystems or similar things? That would make sense to me.

Thanks @FireMedic1 !

[FireMedic1]

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@TyrannicalDuncery wrote:

Cool, makes sense. So to me, it sounds like you are saying that attaching it to an existing checking account decreases the likelihood that they would check ChexSystems or similar things? That would make sense to me.

Thanks @FireMedic1 !

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@TyrannicalDuncery 

I never said anything about this program. I just posted the link for you to read. They have no checking as you can see. Fine print reveals many things. So no Chex invovled. Do you have a Chex alert your trying to avoid?

[TyrannicalDuncery]

They have no checking as you can see.

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Gotcha, thanks. I was thinking there was because of this, but I should have read more closely as you said.

So no Chex invovled.

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Interesting! I did not know that the one implied the other.

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Do you have a Chex alert your trying to avoid?

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Nope, but I think some bank accounts don't like to see a lot of inquiries. Not sure.

[TyrannicalDuncery]

If I apply for the Fold debit card, will it check my ChexSystems?

Background:

Related to this: Does the Fold debit card check ChexSystems? - myFICO® Forums - 6612558

The Fold debit card seems to come with a checking account per this article: Fold App and Debit Card Review: The Card With Bitcoin Rewards (cnbc.com). For this reason (or maybe others), I was thinking that maybe Fold will pull my ChexSystems if I apply. On the other hand, @FireMedic1 pointed out that you can link this card to another bank account.

[sznthescore]

It's a FinTech debit card. I doubt anyone on myfico(dot)com is checking for this card. Not to mention... I dont see any benefits remotely worth $10/mo. let along the free version of the card. Just my opinion. Tricks and games are for kids, but to each its own.

[TryItAgain]

Oh it's worth it if used properly. At least if you can use it how I use it.

For instance, I send 4-5k monthly to fold debit card from my bank acct trfr that I normally would just pay bills with.

Then I pay a couple Lending club Loan's pmts with it and pay off that month's cap on tap business card balance.

This allows me to spin for a shot at bitcoin which is extremely rare, however, making 2-4% cashback is not rare. So I am easily getting over $100 per month in bitcoin satoshis just for paying bills I'd be paying anyway.

I then transfer it to my own btc wallet monthly with the rare shot of a full bitcoin. Needless to say am holding that btc for years to grow.

So if you have any bills you can pay with a Debit card you can really do well with fold card. If you wanna try it you can find referral links everywhere.

As for Chex systems I am not sure but it would not surprise me. I was supplied routing and acct number and was able to attach it to my Chase checking for transfers no problem. This was couple years ago.

YMMV