They track your history across both savings and checking accounts. In other words, they are consumer reporting agencies that contain information about past mistakes that you have made and may have forgotten about. The most popular ones are ChexSystems, TeleCheck, Early Warning System (EWS). Most of the banks use centralized databases that allow them to get access to your credit score, fraudulent activity, unpaid fees, and other information. If you’ve ever experienced any problems with paying off your credit card debt, student loan, etc, even if it was in the past, there are some clues left behind. Opening a checking account may be quite a challenge.
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