Survive the ChexSystem and get a checking account today!
Can't get a Bank Account — A bank account is something most Americans just take for granted. It's something most of us have had since we were teenagers. But, for some 20 million plus Americans, its just not that simple. For a variety of reasons, millions of Americans cannot get a simple checking account. For the reason that they are in something called the Chex System.
What is the Chex System? — The Chex System is a consumer-reporting agency that provides information to banks and other financial institutitions. Most banks use Chex Systems to screen potential customers before opening an account to, theoretically, prevent check fraud.
Why am I on the list? — An individual can get on the Chex Systems list for a variety of reasons including: too many NSF (non-sufficient funds) items, writing bad checks, and having a bank debt, to just name a few. Once you are on the list, it takes five years to get off the list unless you take action.
What do I do if I am on the list? - There are a variety of options if you are on the list and find yourself unable to get a checking account. You can get off the list. It takes some effort, but it can be done. Another option is to find a bank that does not use Chex Systems. This takes a bit of research, because approximately 80% of the banks and credit unions use Chex Systems to screen potential customers.
Warnings - Be careful of offers to provide "up-to-date" listings of banks not using the Chexsystem to screen checking or savings account applications. These lists are usually not current at all, and banks are constantly changing their processes to evaluate an applicant. Much of this information is available online, in particular on various personal finance forums specializing in getting help if you are on the ChexSystem. Please save yourself the money!
Share Your Story - The best information can best be obtained from those of us who have been through it all. Please go to the Forum and share your story and read those of others with different insights on the ChexSystem and banking in general.
More Information
- To the right are links to a variety of articles
with more information on what to do if you find yourself on the Chex
Systems and need to know what to do now, or you just want more
information.
| Personal finance news - CNNMoney.com Updated : My sister can't manage her money Finances can be a touchy subject among family members. If you try to offer help, proceed with caution, says Money Magazine's Walter Updegrave. Publ.Date : Tue, 11 Mar 2008 12:01:24 EDT The home stretch to retirement Seeing your portfolio shrink can be tough so close to retirement, but you should still be investing for the long term. Publ.Date : Mon, 18 Aug 2008 14:30:38 EDT Are you better off? The statistics are grim: Inflation is at a 17-year high. Unemployment is rising. Foreclosures are spreading. Publ.Date : Thu, 28 Aug 2008 12:42:46 EDT How to Earn Money At Home |
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Articles and Additional Information
ChexMate Forum
What Is Chex System?
Solutions for Chexsystems & Bad Credit
What To Do If You're In The ChexSystem
One Simple Letter Can Get You Off Chex System
Get out of ChexSystems and Get a Real Bank Account Today
ChexSystems - Getting Off And Finding Non ChexSystems Banks
Rebuilding Credit: Scarlet 'C' of ChexSystems
ChexSystem Can't Stop You From Getting a Bank Account
On ChexSystem? Consider A Debit Card Account
Chex System - Why Every American Needs to Guard His Checking Account
Credit Repair Secrets Revealed - "How to Get Out of Chex Systems"
Why Banks Use ChexSystems and What Your Options Are If You've Been Reported
ChexSystem Problems? Learn About Different Bank Account Options
Non Chex System Banks
Other Related Sites
