People are denied the ability every day to open a checking or savings account because of an entry in the Chexsystems database. Why? If you have an entry in Chexsystems, fairly or otherwise, it’s due to bounced checks. For more info. here is creditinfocenter’s page on Chexsystems.
Now there’s a new database which banks are using to screen new checking applicants, Early Warning Systems (EWS). Early Warning Systems (previously Primary Payment Systems), along with other participating organizations, share information with financial institution who subscribe to it about potential customers which may be a risk.
If you have an entry in EWS, most banks will turn down your application to open a checking or savings account with them. Again, the most likely reason for your inclusion in the database is excessive overdrafts or bounced checks.
Think you’re being given a new “life” as far as being able to open a checking account with banks that don’t use Chexsystems, but use EWS instead? Nope. Almost everyone reported to Chexsystems is also reported to EWS.
So who is EWS? Early Warning Services is a limited liability company owned by Bank of America, BB&T Corporation, JPMorgan Chase, Wachovia, and Wells Fargo. From their website describing services to financial institutions:
Account Opening and Funding
New account fraud cost the financial services industry $14.7 billion in 2007, and cost victims $1,066 per case, according to the 2008 Identity Fraud Survey Report by Javelin Strategy & Research. To prevent such monumental losses and protect their customers, financial institutions need to be able to screen new demand deposit accounts (DDA) applicants for a prior history of fraud and/or account abuse (emphasis mine), as well as perform identity verification and compliance list screening. In addition, verifying a funding account at another institution reduces the fraud risks associated with new accounts.
Early Warning Solutions deliver superior analytics and advanced capabilities, including identity verification, account history and account owner authentication, to help organizations stop fraud at the door.
Like Chexsystems, EWS is a credit reporting agency, and because of this, you are entitled to see a copy of your report and it is your right to dispute. Those wishing to obtain consumer report information should contact EWS’s Consumer Call Center at 800-325-7775.
Early Warning Services
8777 E. Harford Drive Suit 110
Scottsdale, AZ 85255
800-325-7775
http://www.earlywarning.com/index.asp
Have you been denied the ability to open a savings or checking account because of an entry in EWS? Tell us by leaving a comment!
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EWS is reporting a fraud committed on an old account. I paid the full amount and Wachovia removed it from ChexSystems. EWS refuses and is sabotaging every effort to get an account.
To anyone who says companies like EWS are protecting anyone or anything, you have absolutely no idea what you’re talking about. The biggest fraud perpetuators in the world are IN the banks themselves. Bank of America reported me for “fraud” because of 1 mistake in the year I was with them (I made an ATM deposit and forgot to put the check in, value? $100) and now I can’t get a bank account for SEVEN YEARS. It doesn’t matter if you pay it off, Bank of Amerca (#1 fraudster in the recent economic meltdown) absolutely refuses to remove the record.
Screw banks. Bunch of criminals.
I also am in EWS.. I had 900 hundred in a b of a saving . I made a atm deposit but forgot the check in the envelope to my checking( i pulled out 40 dollars). My account was closed, labeled fraud even though I had 900 in another accout. It took 21 days to get my 900 and i still have a fraud label in ews
i had an issue with bofa in late 2006 and after paying back the money through ews they decided theyd keep me there anyway… closing a current account with wachovia… and after contacting ews recently they told me theyd remove me from their list on august 2013. now i have to find new places to hide my money…
I am also on EWS from making 1 mistake with BANK OF AMERICA. I made a deposit and forgot to put the check in the envelope. When they opened on Monday (this happened on a Saturday) I went into the branch to explain what happened and to deposit the check over the counter. I was told that everything would be fine, she would leave a note for the teller who emptied the maching. My account was never even overdrawn but apparently when they saw the empty envelope they immediately reported me to EWS as doing fraud. That was SIX years ago and they refuse to remove it and no bank will give me a checking account. BEWARE OF BANK OF AMERICA, they are the real fraudsters who take advantage of hard-working, everyday “little” people.
got an account opened but it was closed a week later. i had one deposit returned with bank of america in 2006 and chexsystems is clean now and paid but this ews told my new bank and they froze my account and closed it. beware they will open your account and close it later!!
Wow! Reading these comments and I see I’m in good company. I also had a similar issue with of all places, BANK OF AMERICA. Now I’m in EWS and they very nastly told me they will not remove me. I was able to remove it with Chexsytems but when I went back to EWS they said they didn’t care, and since I already disputed it once I could not dispute it again, EVER! All I can do is contact BOA and try to get them to remove it, well that was a month ago and still haven’t heard back from BOA, big surprise there.
Early Warning Services is a terrible company. Do not work for them. They chase good employees away and do not like A personality types.
BOFA reported me to EWS in 12/16/2008. I paid BofA in May of 2010 and they opened a business and a personal checking and savings account for me in june of 2010. 6 months ago I went to go close my business account because it was through a corporation. I went last Saturday to go open a business checking as a sole proprietor. They ended up closing ALL my accounts, including the one I have had for a year now due to EWS. I dont get it? I have had a perfect account with them for the last year, why close it? BofA sucks!!!!
Both EWS and Chexsystems are problems if you have issues in the past and many online companies are now running hard credit checks.
EWS received a report from Compass Bank on my employment stating “unfavorable employment record” because I blew the whistle on employees using unethical sales practices for bonuses. I was never notified till I was hired by another financial institution and they rescinded their offer because of this report. In the “right to work state” employees have no recourse to big banks and agencies like EWS.
I hate these guys at EWS. I wish death on all of them and their families. I cannot believe the horror that this company has put me through, even after paying off each and every debt I owed. I am not broke, divorced, and rarely get to see my children. It is companies like this that make people turn hostile. May you reap what you sew EWS…
ews is set up to humiliate and misjudge people. even if you pay the debt to the bank you owe, it’s at the bank’s descretion to remove you from their system and the debt can only be disputed only once. So, if you are not removed, it defeats the purpose of paying the debt because this whole process is used to display what they think is your charactor so you best bet would be to research and utilize banks who are not affiliated with ews!! the company is some straight up b.s.!!
im glad im not alone the same thing has happend to me. Except some one actually commited fraud on my account i went into washington mutual on payday because i couldnt find my bank card, I had direct deposit. I was told someone did s blank deposit they took the money out of my account and closed my account. i disputed the account, Washington mutual denied my dispute. I am not still fighting with check systems. And washington mutual/chase is telling me now the account doesnt exsist and they cannot locate it theres nothing they can do i will just have to wait till it falls of in 7 years. all over 150- that was not my fault. this is really sad. The people that really work hard for thier lively hood and value there name and credit always get treated like crap and the criminals keep going and MESSING up people credit and name.
I am in checksystem and EWS because of something I did not do as well. I lost my BofA Business Bank Card which clearly had my picture on it and someone deposited a large amount of money in the atm and withdrew 500 hundred dollars, well the deposit was blank and they Closed my account. I disputed and filed a claim, got a police report and everything and still no actions. I thought the ATM cameras would prove it was not me and I reported my card as soon as I noticed. Now my business will be ruined cuz I can’t even open a account no where, I have tried. I am immediately labeled soon as I get my social looked up as a fraud and I did nothing.
If some people are already paid off and the debts they owed, and EWS refuses to remove them from the list. EWS is not encouraging the customers to pay their debts.
When the future people are on EWS list, they don’t need to pay their debts if EWS continue on this injust way.