You’re probably here because a bank or credit union reported you to ChexSystems, and you’re being denied when you apply for a new checking account. Well, look no further because this is the site where you can get practical advice and solutions to ChexSystems. There’s nothing to sign up for and all the information is provided to you free of charge.
What is ChexSystems?
ChexSystems is a consumer reporting agency that maintains a database of people who have become delinquent with their bank account(s). Unlike the credit reporting agencies, ChexSystems only maintains records of individuals with negative banking histories. This means that if you have never defaulted on your bank account, your name should not appear in the ChexSystems database. One of the reasons why a bank will ask for your social security number is because they need it to run your ChexSystems report. If nothing comes back, then you’re in the clear.
Why do people get reported to ChexSystems?
People get reported to ChexSystems by their bank for a number of reasons. This includes: non-sufficient funds (NSF), excessive overdrafts, account abuse, and fraud. Once reported to ChexSystems, your record remains in their database for up to 5 years.
How to get out of ChexSystems
There’s a couple of ways to get your name removed from ChexSystems. One way is to pay off your debts to the reporting bank, and ask them to request the removal of your name. The 2nd way is to file a ChexSystems dispute.
If you don’t qualify for ChexSystems removal, what are your options?
Obviously, the best solution to ChexSystems is to get your name removed altogether. But, what if you can’t? What do you do? Don’t worry, there are ways around ChexSystems.
Here are 3 alternative options:
- Find a bank that does not use ChexSystems (Non ChexSystems Banks).
- Apply for a 2nd Chance Checking Account.
- Apply for a prepaid debit card.
Got questions? Check our ChexSystems FAQ section for answers and information.