Many people are surprised to learn that credit bureaus are not the only companies tracking their financial history. Specialized reporting agencies also maintain records on checking and savings accounts.
Banks, credit unions, and even retailers rely on these reports to decide whether to open an account or accept a payment.
Knowing which agencies track your bank account history—and how to request your files—can help you avoid denials and correct errors before they create bigger issues.
Why Banks Check Your Account History
Financial institutions want to limit risk when opening new accounts. Deposit account reporting agencies provide information that helps them decide whether someone is likely to manage a checking or savings account responsibly.
Common red flags that can appear include:
- Unpaid overdrafts: Past negative balances that were not repaid.
- Involuntary account closures: Accounts shut down by a bank due to misuse or nonpayment.
- Suspected fraud: Markers that suggest identity theft or intentional misuse.
This process is different from what credit reporting agencies like Experian, Equifax, and TransUnion collect. While credit reporting agencies track loans and credit cards, deposit account agencies track everyday banking activity.
If you are denied a checking or savings account, the bank must give you an adverse action notice that names the agency it used. This gives you the right to request a free copy of your file.
The Major Agencies That Track Bank Account History
A handful of consumer reporting agencies specialize in monitoring checking and savings account activity. They collect data about account openings, closures, overdrafts, and fraud investigations, and they share this information with banks and merchants.
Comparison Table: Bank Account Screening Agencies in 2025
| Agency | What It Does | Who Uses It | Key Impact on Consumers |
|---|---|---|---|
| ChexSystems | Collects checking and savings account applications, openings, closures, and reasons for closure | More than 80% of banks and credit unions | Can lead to denials for new accounts |
| Early Warning Services | Provides fraud detection and deposit account data | Major U.S. banks and payment processors | Affects account approvals and fraud risk assessments |
| TeleCheck | Offers check verification, fraud reduction, and payments data | Banks, retailers, and merchants | Can result in declined checks or account restrictions |
| Certegy | Specializes in ACH and check verification | Banks, gambling, retail, healthcare, and transportation firms | May cause declined checks and potential account issues |
| CrossCheck | Provides check guarantee and verification | Automotive, retail, healthcare, and supply industries | Impacts whether checks are accepted |
| Global Payments Check Services | Delivers check screening and verification services | Retailers, nonprofits, and other service industries | May prevent transactions and affect acceptance of payments |
Spotlight on the Two Most Widely Used Agencies
ChexSystems and Early Warning Services are the two most common reporting agencies used by banks and credit unions. More than 80% of financial institutions rely on at least one of them when deciding whether to approve new accounts.
ChexSystems
ChexSystems is the most recognized deposit account reporting agency in the United States. Banks and credit unions rely on its reports to assess whether someone has a history of risky account behavior.
A ChexSystems file can include:
- Account applications: Records of where and when you applied for checking or savings accounts.
- Account closures: Details on accounts shut down by banks, including reasons such as unpaid overdrafts.
- Outstanding balances: Notes on negative balances that were never repaid.
- Fraud markers: Indicators of suspected or confirmed fraud tied to an account.
Negative marks typically remain on a ChexSystems file for up to five years. If you are denied an account, you can request a free copy of your ChexSystems report once every 12 months. If something looks inaccurate, you have the right to dispute the entry and ask for it to be corrected or removed.
See also: Banks That Don’t Use ChexSystems
Early Warning Services
Early Warning Services is owned by several of the largest U.S. banks, including Bank of America, Capital One, JPMorgan Chase, and Wells Fargo. Its focus is fraud prevention and risk scoring.
Early Warning collects and shares deposit account data to help banks assess whether to approve new accounts. It is also used to evaluate risk for payment processing, meaning its influence goes beyond account openings. If you have negative activity flagged in Early Warning’s system, it can affect both your ability to open a checking account and how your payments are handled.
See also: Banks That Don’t Use Early Warning Services
Other Agencies You Should Know
While ChexSystems and Early Warning are the most widely used, several other companies also track consumer banking history. These agencies focus heavily on check verification, which can impact both everyday purchases and account approvals.
- TeleCheck: Frequently used by retailers and banks to determine whether a check should be accepted. TeleCheck helps reduce fraud but can also lead to declined transactions.
- Certegy: Provides ACH and check verification across industries such as retail, healthcare, gambling, and transportation. A negative entry may cause declined payments.
- CrossCheck: Specializes in check guarantee services for sectors like automotive, dental, veterinary, and building supply. It influences whether checks are approved in these industries.
- Global Payments Check Services: Works with retailers, nonprofits, and other service businesses to screen and verify checks. It can impact whether a payment is accepted at the point of sale.
How These Reports Affect You
The information in these reports can shape your access to everyday financial services. Banks and merchants use the data to gauge risk, and negative entries can make basic transactions more difficult.
Some of the main impacts include:
- Denials for new checking or savings accounts: Banks may reject your application if they see unpaid overdrafts or past account closures.
- Merchants refusing checks: Retailers may decline to accept your check if a reporting agency shows a negative history.
- Limited access to banking services: Negative marks can make it harder to open even basic accounts, forcing you to seek alternatives like second chance checking.
- Difference from credit history: Credit reporting agencies focus on loans, credit cards, and repayment history, while deposit account reporting agencies track checking and savings account behavior.
What to Do if You’re Denied a Bank Account
If a bank refuses to open a checking or savings account for you, the first step is to find out which reporting agency provided the information. The adverse action notice you receive will name the company that issued the report.
Once you know the agency, you can take the following steps:
- Request a free report: Every consumer reporting agency must give you one free copy of your file each year. Use this to review what is being reported about you.
- Dispute inaccurate items: If you find errors, file a dispute directly with the reporting agency. They must investigate and either verify, correct, or remove the entry.
- Pay off negative balances: If your file shows unpaid overdrafts or fees, contact the bank that reported them. Paying what you owe can sometimes lead to updated reporting and improve your chances of approval.
- Consider second chance accounts: Some banks offer accounts designed for people with negative entries. You can also look into financial institutions that do not use ChexSystems or other screening agencies.
Consumer Rights and Protections
Federal law gives you specific rights when it comes to reporting agencies that track deposit accounts. These protections are designed to ensure the information in your file is accurate and fair.
- CFPB oversight: The Consumer Financial Protection Bureau monitors these agencies and provides resources for consumers who want to request or dispute reports.
- Fair Credit Reporting Act: This law applies to deposit account reporting agencies in the same way it applies to credit reporting agencies. It requires accuracy, gives you the right to dispute errors, and limits how long negative information can remain on your file.
- Monitor your financial reputation: Just like checking your credit report, reviewing your deposit account history regularly helps you catch problems early. Staying on top of both gives you more control over your financial profile.
Conclusion
Knowing who tracks your banking history puts you in a stronger position when applying for new accounts. ChexSystems, Early Warning Services, and other reporting agencies influence whether you are approved, but you have the right to see what is in your file and dispute errors.
Take time to check your reports, correct mistakes, and explore banks that offer second chance checking accounts if you have been denied. By staying informed, you can make sure your financial reputation is not held back by outdated or inaccurate information.
