PayPal,

SunTrust Offering Free Equifax Credit Monitoring

With the increased attention being paid to identity theft, it’s

perhaps not surprising to see financial companies offering credit

report monitoring services. What may be surprising is that certain

companies are now offering the service free. Both PayPal, the

online payment network owned by eBay and used for many eBay

transactions, and regional bank SunTrust this week announced

free credit monitoring from reporting agency Equifax as part

of their core financial products.

PayPal

users can receive free alerts every time there is a change to

their Equifax credit report, whether that be attempts to open

new credit lines or notable charges on their credit cards. In

addition, a free identity theft helpline can assist those who

fear they may be victims of identity theft.

SunTrust

checking account holders can enroll in Equifax Credit Watch

Silver to have their credit files monitored weekly, and be notified

of changes that could signal fraudulent activity. They also

receive up to $2,500 in identity theft insurance and a free

Equifax Credit Report. Equifax normally charges $49.95 per year

for the service.

Neither

PayPal not SunTrust revealed the financial nature of their relationship

with Equifax in offering Equifax’s products at no cost to their

customers.

Published 05/09/06 (Modified 05/07/12)