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5610 Ward Road, Suite 300 Arvada, CO 80002

9200 E. Mineral Avenue Centennial, CO 80112

 

Phone:  303-252-0852

 

Website: www.walshfinancialsolutions.com

September/October 2017

"Chex" Your Bank Accounts

You probably know you’re entitled to one free credit report annually from each of the three major credit bureaus. But did you know that you can also get a free annual report that shows the activity on your bank accounts?


ChexSystems collects information that helps banks decide whether to approve a consumer’s checking or savings account application. How is that helpful to you? The Chex report that you receive details all inquiries by banks and other companies for the preceding three years. It also includes inquiries initiated by you when you’re looking to open a new bank account. If you see an inquiry that you don’t recall making, you could be a victim of fraud or identity theft.


The report also lists check orders, so finding evidence of a check order that you didn’t place could be another sign of fraud.


One caveat: If a bank doesn’t launch a ChexSystems inquiry when an account is opened, the information won’t appear on a Chex-Systems report.


FR2017-0504-0006/E


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Advisory Services offered through Walsh Financial Solutions or Vanderbilt Advisory Services. Securities offered through Vanderbilt Securities, LLC. Member FINRA, SIPC. Registered with MSRB. Walsh Financial Solutions and Vanderbilt Securities, LLC are separate and unaffiliated entities. Clearing agent: Fidelity Clearing & Custody Solutions. Insurance Services offered through Vanderbilt Insurance and other agencies. Supervising Office: 125 Froehlich Farm Blvd, Woodbury, NY 11797 631-845-5100
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