It is important to be responsible with your checking account in order to maintain a good debit history. Your debit history contains facts about you and your deposit or checking account history, similar to a credit report. It is made available, as permitted by law, to your current and prospective financial institutions to assess your likelihood of managing your debit accounts responsibly. Debit history may also be used by companies assessing your credit worthiness.  


Your debit history can include such items as:

  • Any checking account closures you have had
  • Any returned (bounced) check retailers have reported about you
  • How many financial institution inquiries have been made about you and in what time frames
  • How many check orders you have placed and how often

If you do not maintain a good debit history, there are a number of unpleasant consequences:

  • Your financial institution could charge you fees for each overdraft.
  • The place you wrote the check could also charge you a fee or refuse to take any more checks from you.
  • You could receive calls and letters asking you to repay the money.
  • Your name and account information could be reported to a check verification service, which could cause your checks to be declined at point of sale.
  • Your bank could close your checking account.
  • Your bank could report your closed account to ChexSystems. As a result, other banks could refuse to open a checking account for you.