Chex Systems May Stop You from Opening a Checking or Savings Account at a Bank

Once you open you checking account it is a good idea to make sure you manage it effectively and efficiently. Watch out for overdraft fees and non-sufficient funds fees. If you incur some of these fees and don't pay them you could be reported to Chex systems and they will not allow you to open a checking account. Some of the other things that will get you reported to Chex systems is any type of fraud. There have been people that will deposit empty envelopes in ATM machines and then take withdraw the money. This type of activity is fraud and leaves the account balance negative. If you decide to do this and never deposit money to make the balance positive you could b reported to Chex Systems.

You can be reported if you constantly abuse your account, such as excessive overdraft fees, ATM abuse, and any type of activity resulting in misuse of the account and unpaid fees.

After being reported to Chex systems if you go to any bank to open an account they will take an application but prior to opening your account they will call Chex Systems and if you are on their system your account cannot be opened. The bank representative will give you contact information for Chex Systems and they will suggest that you contact them to resolve the situation. Once reported to Chex Systems you will remain on their system or in their data base for 5 years and in some states it could be 7 years.

If you pay off the amount you owe you will still be on Chex Systems and you still will not be allowed to open a checking or savings account.

After checking around it turns out the requirement is different in some states. You can be placed on Chex Systems one week and if you pay off the amount owed two months later you can open a checking account, however you will still be on Chex Systems until the five years has passed.

Sometimes information can be reported in error. If you need to contact Chex Systems to get information, make payments or dispute the validity of their claims you can do so by mail or by phone using the following information:

Chex Systems
Consumer Relations
1-800-428-9623

Write to
Chex Systems
Attention: Consumer Relations
7805 Hudson Road, Suite 100
Woodbury, MN 55125

If you decide to call the phone number you will get a recording that gives you specific instructions you need to follow.

Source: http://www.ckfraud.org/chexsystems.html

Source: http://www.creditinfocenter.com/FeaturedArticles/ChexSystems.shtml