Good Morning,
Our process is also similar.  Overdrawn DDAs are charged off (status 8) at 60 days overdrawn.  The accounts stay in status 8 for life of account even if paid in full.  Our weekly export file to ChexSystems includes newly charged off accounts and any payments made against previously charged off accounts.
Thanks,
Christy

Christine M. Allen
Vice President
PO Box 460
Ithaca, NY  14851

Phone: 607.274.5980
Fax: 607.256.7178
xxxxxx@tompkinsfinancial.com

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From: xxxxxx@marug.simplelists.com <xxxxxx@marug.simplelists.com> On Behalf Of Lois E Ellis
Sent: Wednesday, August 3, 2022 9:47 AM
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Subject: [EXTERNAL]RE: [EXTERNAL] SilverLake MA-RUG Chex System Reporting

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Hi.

That is the process we follow. When an account is still overdrawn at 60 days, we charge it off (status code 8) and it stays in 8 for the life of the account. Even when paid in full they remain in a charged off status.

Lois
Lois Ellis, CRCM
Vice President
Operations Risk Manager
220 Liberty Street
Warsaw, NY 14569
O- 585.627.1335   C- 585.943.0070
xxxxxx@five-starbank.com

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-----Original Message-----
From: xxxxxx@marug.simplelists.com <xxxxxx@marug.simplelists.com>
Sent: Tuesday, August 2, 2022 5:33 PM
To: xxxxxx@simplelists.com; xxxxxx@marug.simplelists.com
Subject: RE: [EXTERNAL] SilverLake MA-RUG Chex System Reporting

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Hi

I know this is a fairly old thread, but I am working on our OD reporting process and I noticed that ChexSystems is reported on 60 days when the account is put in status 8.

 Do you leave it in status 8 until a recovery is made?

Would anyone be willing to share their procedures on the reporting process?

Kate Sant’Angelo ● Vice President ● Retail Branch Administrator
500 Hills Drive ● Suite 300 ● P.O. Box 700 ● Bedminster, NJ 07921-0700
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-----Original Message-----
From: xxxxxx@marug.simplelists.com <xxxxxx@marug.simplelists.com> On Behalf Of Lois E Ellis
Sent: Tuesday, June 14, 2022 3:07 PM
To: xxxxxx@simplelists.com; xxxxxx@marug.simplelists.com
Subject: Re: [EXTERNAL] SilverLake MA-RUG Chex System Reporting

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Hello.

We charge off at 60 days overdrawn. They are placed in a status code 8. We submit to ChexSystems same day.

Lois

Lois Ellis, CRCM
Vice President
Operations Risk Manager
220 Liberty Street
Warsaw, NY 14569
O- 585.627.1335   C- 585.943.0070
xxxxxx@five-starbank.com<mailto:xxxxxx@five-starbank.com>
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Five Star Bank, Member FDIC
Insurance and investment products and services are not FDIC insured, are not a deposit or bank guaranteed, are not insured by any Federal governmental agency, and are subject to investment risks, including possible loss of principal invested.
________________________________

From: Stacy L. Gager <xxxxxx@thedimebank.com>
Date: June 14, 2022 at 1:18:12 PM EDT
To: xxxxxx@marug.simplelists.com <xxxxxx@marug.simplelists.com>
Subject: [EXTERNAL] SilverLake MA-RUG Chex System Reporting

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Good afternoon,

Wondering if anyone would share how they report charged-off accounts, specifically the number of days before reporting?

Do you report the day it charges off?
Do you give the customer any extra days between receiving the last OD letter telling them their account has been closed and will be reported before reporting them?

Thank you,
Stacy Gager
AVP / Deposit Operations Supervisor

120 Sunrise Avenue
PO Box 509
Honesdale, Pa 18431
(570) 253-6511 Ext. 7739
xxxxxx@thedimebank.com

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