ChexSystems

 ChexSystems is a check verification service and consumer credit reporting agency owned by the eFunds subsidiary of Fidelity National Information Services. It provides information about the use of deposit accounts by consumers. – Wikipedia

ChexSystems reports contain information about past banking mistakes, including unpaid fees and fraudulent activity. When you apply to open a new checking account, banks and credit unions may review your ChexSystems report before approving or denying your request.

ChexSystems collects information about a specific set of your activities. But instead of information about your credit history, ChexSystems collects information about your checking account history.

Here’s some of the information you may find in a ChexSystems report:

•Identifying information like your name, Social Security number and past addresses

•Unpaid negative balances, including overdrafts or accounts closed involuntarily

•Suspected fraudulent activity

•Account inquiries or applications for other bank accounts

•Unpaid fees

•Public records

Here are some ways to clear up your record from ChexSytems:

  1. Request your report -The best thing to do is check for accuracy, if you’ve been turned away from a checking account.
  2. Dispute Errors – If you have cleared up some discrepancies in the past, it’s important to make sure it’s removed from your report.
  3. Pay off Debts – Take it one day at a time, do what you can.
  4. Ask Creditors to remove information – if you’ve paid a debt, ask the collection agency to update Chexsystems.

If you’ve been turned down for an account you’re supposed to automaticyally receive docutmention as to why. But if not you can obtain your report, by filling out a form at; chexsytems.com.

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