Chex Account

The Chexsystem provides banking information and verification services to its members to help them in identifying applicants who have a history of misusing their bank accounts. The “members” who register to use this system are banks, credit unions and other financial institutions. They essentially check into the banking habits and histories of potential applicants for […]

Chexsystems may be a beneficial tool for banks but it can cause serious problems for banking customers who do not have perfect banking records. It is a databank of customers that have been submitted by banks who have experience problems in the past with these individuals for reasons ranging from repeated bounced checks to accounts […]

If you are unfamiliar with Chexsystems it is a consumer reporting agency (CRA) that retains negative information about the banking history of members who have had problems in the past. For instance people who have bounced checks or who have had their accounts closed by the bank because they were overdrawn. The system identifies account […]