ChexSystems

Banks, credit unions and other financial institutions subscribe to the ChexSystems network. If your name is listed on ChexSystems you may not be able to open a bank account at another bank. Your name could be listed on ChexSystems if your bank account was forcefully closed for one of the following reasons:
 
•    The bank was unable to collect for an overdraft, ATM transaction or automatic payment which they paid as insufficient funds
•    Multiple overdrafts
•    Savings account, debit card or ATM abuse or fraud
•    Providing false information in opening account.

Your name is listed on ChexSystems registry for a period of up to five years.  Only the member bank or credit union can request the removal of your name.  Each bank has its own ChexSystems policy. Some banks may not open an account at all, while others will consider the length of time a consumer’s name has been listed on ChexSystems.  If your name has been on ChexSystems for more than a year, there are many banks which will open an account for you as long as your ChexSystems record does not contain fraud and you have repaid your previous bank for the overdraft and/or other outstanding fees.   

Under the federal Fair Credit Reporting Act, consumers turned down for bank accounts have a right to copies of their ChexSystems registry report and can challenge entries or insert explanatory comments.  

ChexSystems
Consumer Relations
1-800-428-9623
(Recording only-Instructions)

ChexSystems
Attn: Consumer Relations
7805 Hudson Road, Suite 100.
Woodbury, MN 55125
FAX  602-659-2197