How Long Does Negative Information Stay in the TeleCheck Database?


Quick Answer

Negative information stays in the TeleCheck database for five years, according to GoBankingRates. If a person writes a check to a company and his account has insufficient funds to cover it, the company can report him to TeleCheck.

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Full Answer

The Fair Credit Reporting Act specifies those who may legally view this information, which includes entities given written permission by the reportee, any business or individual that requests the information following a business transaction, government officials verifying a license applicant's financial responsibility, specified individuals investigating financial status in child support cases, and those ordered by a court to do so. Banks often report negative account information to a similar service called ChexSystems.

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