Pretty much all banks use ChexSystems these days to verify that you have a clean record with no bounced checks, overdrafts or fraud. And for most of us, this isn’t a big deal. But if you happen to have a bad ChexSystems record (either inaccurately or because of financial problems) opening a bank account suddenly becomes very difficult. Plus, negative records can be kept in their database for up to five years.
If this happens to you, work on correcting the issues that led to your ChexSystems report. You can contact the company for a free copy of your report and they have a dispute process for inaccurate information much like a credit bureau. You can also look online for a list of banks that do not review your ChexSystems report. Be careful though, there are many services out there that will try to charge you for this list. Here is a free list you can review instead.
{ 5 comments… add a comment }
Here is another free list: http://www.creditservicer.com/pages/chexsystems-help/recommended-banks.html.
Correction to the link above: http://www.creditservicer.com/pages/chexsystems-help/recommended-banks.php
Chex Systems Inc is just another abusive corporation that is set up to channel whatever gossip is funnelled their way by others, usually employees of banks. These emoployees have their own agendas, sometimes malicious, and it comes back to hurt you. Since Chex Systems does not seem to take any particular steps to ensure the truthfulness of what they publish, the obvious solution is to file lawsuits. If enough folks bury this sleazy outfit with lawsuits then that should put a stop to their abuse. You can file within your State system, or go federal if the violations come under Original Jurisdiction aspects of the federal code. So bury these clowns; just sue them.
Chex systems doesn’t respond. The phone number only lets you get a report the bank already gave you. Their website has no direct customer disput link, other than offering you another report that you already have.
This is a service that is filled with fraud and should be sued to the full expect available.
If you have corrected the problem they should take you off, but they don’t. It is just a bad system.
These sites provides free help for people stuck in ChexSystems:
http://www.chexaccount.com
http://www.cardreport.com
http://www.newcheckingaccount.com
If you come across any sites that charge a fee or ask for membership, you should avoid them. Don’t get scammed!