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ChexSystems Solutions - Second Chance Checking Banks

Category: ChexSystems Info

Class Action Lawsuit against ChexSystems

According to Attorney Lee Sherman of Callahan, Thompson, Sherman & Caudill LLP, ChexSystems is in violation of the Fair Credit Reporting Act (FCRA). The class action lawsuit alleges that ChexSystems is refusing or failing to add consumer dispute statements to the reports. Currently, the lawsuit is in the information gathering stage. If you believe you [...]

What is Fresh Start Checking?

As the name implies, Fresh Start Checking Accounts gives a “fresh” or a new beginning to anyone seeking a second chance at banking. These bank accounts are also known as Second Chance Checking Accounts. Due to the increased number of customers being reported to ChexSystems, some banks and credit unions have started offering a subprime [...]

Business Checking Accounts and ChexSystems

Running a business without a checking account is nearly impossible in this day and age.  But have no fear, there are options for people who are listed on ChexSystems, but need a business checking account. Option 1: Open a business checking account with a bank that does not use ChexSystems.  Most Non-ChexSystems Banks will check [...]

Secured Credit Cards vs. Prepaid Debit Cards

Don’t worry – you’re not the only one confused by the many types of plastic cards. For the most part, people understand the difference between a debit card and a credit card. A debit card is a card that is connected to a bank account much like an ATM card. A credit card on the [...]

What is the Get Checking Program?

The Get Checking Program was a national education program that was created with the belief that everyone has the right to open a checking account, even if they have had prior problems with bank accounts and have a ChexSystems record. The program got its start in the state of Wisconsin. It was formed by a [...]

Solutions to ChexSystems

There are 4 solutions to ChexSystems.  Here they are: Non-ChexSystems Banks Going with a Non-Chexsystems Bank may be the most popular method of overcoming ChexSystems. Non-ChexSystems Banks do not use ChexSystems to verify new bank accounts, so approval is usually based on some other criteria, such as credit history or Telecheck. Unfortunately, most people who [...]

Why Banks Use ChexSystems

Banks are in business to make money, not lose money which is why they rely heavily on ChexSystems reporting.  That said, if you default on a bank account with overdrafts or other unpaid fees (regardless of the cause or situations that led to this) you will likely wind up on the dreaded list of ChexSystems. [...]

Common Misspellings of ChexSystems

Having been in this industry for a while now, I have seen some of the misspelled variations of the word “ChexSystems.”  Here are they are. Legit words: Chex Systems Inc. – the name of the company ChexSystems – the name of the service Misspelled variations: Chex System ChexSystem Chexs Systems Chexs System Chexx Systems Chexx System CheckSystems [...]