Early Warning Services: Early warning is similar as Telecheck and ChexSystems report. It allows banking organizations to evaluate the risk potential for new customers. If the customer is deemed too risky, then they are denied services at the banks or credit unions. It meant to risk identifying the customers who have committed financial fraud in the past. The term of fraud refers to different varieties of activities, and you may be denied or flagged if you accidently tried to cash a fraudulent check you received from someone.
Early Warning Services Screening works: It works similar to ChexSystems & Telecheck Systems. Early warning consumer report services is a service that banks and credit unions pay to use. It is a nationwide credit reporting agency that observes the regulations of the Fair Credit Reporting Act. The agency checks for previous records of fraud activities, check alerting, check fraud, bounce checks and so on. The screening can occur any time of interaction, online, phone, or teller window. It does not look at your credit history, it only reviews your past banking history and behaviour. It took information from a variety of sources, financial organizations and third parties.
