Identity thieves: how to learn if someone has opened an account in your name Identity thieves: how to learn if someone has opened an account in your name

Identity thieves: how to learn if someone has opened an account in your name

Technology has improved our lives in so many ways that it’s hard to even mention one, but it has also made some other aspects more vulnerable. Our identity is one of those things.

Most experts say that it is really important to monitor your credit report because it will allow you to spot any fraudulent transactions. And it is true, but it only works for credit cards.

What if an identity thief has opened a bank account in your name? They could bounce checks or overdraft the account… and you will be responsible. 

If you want to keep an eye on your accounts and make sure the ones that are open are the ones you opened yourself, you can request a checking account report. This tool will let you spot any fraudulent bank account before the damage is done. 

What is a checking account report?

This consumer report will allow you to keep an eye on your check-writing and banking history. They are usually used by banks and credit unions to help them determine if a customer can be offered a checking account or not, based on their history. 

It contains negative information collected from banks and credit unions, as if an account was closed due to unpaid fees or unpaid overdrafts. This is the reason why not everyone has an account report. If no bank has reported negative transactions, then you don’t have one.

How to get the report?

The information that banks and credit unions gather about your banking and checking behavior goes to credit agencies —Equifax, Experian and TransUnion. Under federal law, credit-reporting agencies must provide you with a free copy of your report every 12 months. Besides these agencies, there are also checking account reporting companies that collect this information, and they also provide one free report every 12 months. 

These companies are: Certegy Check Services, ChexSystems, CrossCheck, Early Warning Services, Global Payments Check Services, and TeleCheck Services.

You can find how to get this report from these companies in the List Of Consumer Reporting Companies of the CFPB. The information on how to request a report starts on page 21. Some companies will let you request the report online, and some others will have you request it over the phone.

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