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We're the Consumer Financial Protection Bureau (CFPB), a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly.

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My bank or credit union closed my checking account. Will this hurt my credit?


The big three consumer reporting companies– Experian, Equifax, and TransUnion – typically do not include information about your checking account or check-writing history in traditional credit reports. However, checking account reporting companies do collect and report on information related to your checking account.

These companies, which include Chex Systems and Early Warning Services, collect and report information about checking accounts you’ve had in the past. If you’ve had your account closed due to an unpaid negative balance, the bank or credit union would typically report this “involuntary closure” to a checking account reporting company. You may also be reported if you were suspected of fraudulent activity by the bank or credit union. Banks and credit unions often use reports from these companies to help decide whether to offer you a checking account and the type of checking account to offer you.

Also, debts that come from negative closing balances are sometimes passed on to debt collectors, and those debt collectors might supply information to the big three consumer reporting companies that the debt is in collections. That would affect your credit report and score.

You have the right to know what information is in your report(s). Get more information about requesting a copy of your checking account report.

If you review your report and spot errors, you can file a dispute and then ask that the company correct the error. You should also dispute the inaccurate information directly with the bank, credit union, or merchant that first reported the information to the checking account reporting company. Get more information about disputing information found on your checking account report.

See our consumer guide to selecting a lower risk account
See our consumer guide to managing your checking account
See our consumer guide to checking account denials


Submit a complaint

We’ll forward your issue to the company, give you a tracking number, and keep you updated on the status of your complaint.

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The content on this page provides general consumer information. It is not legal advice or regulatory guidance. The CFPB updates this information periodically. This information may include links or references to third-party resources or content. We do not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.