Inquiries Initiated By Consumer Action:
This category will report any ChexSystem inquiries that were initiated by you, such as applying for a credit card or applying to open an account at a financial institution.
These will stay on your report anywhere from 90 days to three years.
Try to limit the number of inquiries, as some institutions will decline your application simply for having too many entries in this section.
Inquiries Not Initiated By Consumer Action: This category will show up in your free report, but will not be given to the banking institutions and will not impact your ability to open a checking account.
Retail Information: This section includes information on any returned checks or collection accounts. The information in this section is provided by the Shared Check Authorization Network (also known as SCAN). For each returned check, they report;
- Date of check
- Check number
- Amount of check
- Date check paid
- RTN/Account#
- Driver’s License
- Payee
History of Checks Ordered:
Any check orders that you have placed for
new checks in the past three years will be reported here. They will include
information about the RTN/Account Number, the quantity of checks
ordered, the starting check number, and the date that the order shipped to
you.
Social Security Validation, Driver’s License Validation, and Driver’s License Verification:
These three categories help the bank to feel more confident that you are who you say you are. They will ensure that the social security number was issued at the correct time for your age and state of birth, they will also ensure that the driver’s license number is in a valid format and is confirmed by the state that issued it.
ChexSystem Contact Information: This section does not contain any personal information, but will provide you with the contact information for the ChexSystem.