An inquiry might tell them who you applied with, but they won't know you have/had an account unless you get something reported in the 'Reported Information' section. (this is where the bad items go). Also, under 'Check Order Information' will tell them you ordered checks, so that would be a sign of an account. I don't know if they have some internal program that will tell them if you have other accounts. Is that what you mean?
Yes , it is...thanks....I was just wondering if other banks can find out who you bank with...sounds like they can.
As a banker, I can honestly tell you that we can NOT find out who else you bank with by using a Chexsystem screening. It may tell me the number of inquiries over the past 3 to 6 months and possibly WHO those inquiries are with, but I can NOT get a CONFIRMATION of any other account. Of course, if you deposit a check from your account at another bank, it's a sure indicator. Multiple inquiries with Chexsystems do not affect your credit the way credit inquiries do. It neither affects your "pass" or "Fail" grade with them as well. The number of inquires lets the bank know that it is POSSIBLE that someone may be trying to open multiple bank accounts at multiple institutions for illegal purposes. (i.e. check kiting - abusing uncollected funds from one bank account to another.) It doesn't affect your qualifying to open an account.
Yeah, If you think the credit reporting system is flawed, you will love check systems. A nightmare indeed..
