How to find out if someone opened a bank account in your name ?

According to the law, you are personally responsible for every bank account opened in your name. Therefore, it is important that you look after and manage your accounts because there are times when accounts are opened in your name without your knowledge. However, you can find out when someone does such by checking your credit or checking account reports, which contains a list of all accounts in your name.

Why keep track of my credit and checking account reports?

It is common knowledge that you should monitor your credit account in order to fish out identity thieves who try to spend in your name and report them early. However, one very important thing most people neglect is the aspect of a checking account. What if a thief opens a bank account in your name? Of course, it’d likely not appear on your credit report. Such a fraudulent individual can bounce checks or overdraft your account to your detriment.

This is why it’s important to also keep track of your checking account reports just as well as you do for your credit reports. Most times, when people experience identity theft relating to opening fraudulent accounts, it’s usually as a result of negligence, and not realizing the account exists until the damage has blown wildly. Paying a little more attention could have prevented such disaster.

What is a checking account report?

A checking account report is a bank statement that displays your check writing and banking history. It differs from credit reports which reflect your loan and repayment history. Checking reports involves your bank account directly, while credit reports deal with your mortgages and overall credit balance. Checking account reports are very important and often used by banks in determining whether to offer a customer a checking account or not.

The information is compiled by credible checking account reporting companies, who collect information from credit unions and other banks about the customer. The two key considerations used to draw up a report are your checking account and your transaction history.

How do I know when someone opens an account in my name?

To find out if an account is opened in your name, simply request copies of your checking account and credit reports. There are a number of agencies you can do this with, like Equifax, TransUnion or other accredited agencies. By law, credit reporting agencies must give you a free copy of their credit report every 12 months. However, when dealing with possible fraud, it’s best you order one immediately and not wait for when the next free copy comes around.

Also, checking account reporting companies are also mandated by law to provide you with a free copy of their report every 12 months if you request it. To place an order for your checking account report, simply apply to your preferred agency, by following their laid down process. For some, you can just request for your report online, while others, you’d have to request it through mail or by phone.

You should also ask your parents and other family members if they have in the past, or know someone that opened a saving account for you as a child. This, because sometimes it might be a case of ignorance rather than fraud.

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