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No, it is a reporting agency and does not have the legal power to make changes of any sort to bank accounts. Banks and other financial instituitions however, use CS to determine the risk factor of clients or potential clients.

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19y ago

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What is a depository institution with at least one type of checking and one type of saving account?

A depository institution which offers checking and savings accounts is called a bank.


Can the Chex System close your existing checking and savings accounts from another institution?

Chex System is only a reporting agency. They do not have the ability to close an account. If an account is closed it is up to the discretion of the financial institution who issued the account to you.


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In the ePay function, how can you split a payment between your savings account and your checking account


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Is it wise to combine my checking and savings account, and why?

It wouldnt be wise to combine unless you are putting money from checking into your savings. A savings account is a little more protected and shouldn't be used as a checking.


Is saving account a bank account?

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What makes a savings than a checking account account a better investment?

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