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The Washington Independent
Listen and Solve: Knowing ChexSystems and ways to clear your record

Listen and Solve: Knowing ChexSystems and ways to clear your record

06/07/2021 08:17
Rhyley Carney

Table of Contents

ChexSystemsWhat to do to clear your record?Remember

Are you planning to open a new bank account or perhaps getting a loan? Opening a new bank account is not for everyone. Banks hesitate to open new accounts for risky clients. So, if one has plans to open up a new bank account or apply for a new loan, one has to make sure that their bank records are clean. If not, there's a high chance of being turned down by the bank.

If one was denied a new bank account, then that means that the bank knows the bad records or pending loans or unpaid debts one still, probably, has. But how do they know this? Do they have some system that detects that kind of stuff? The answer is yes. A lot of banks utilize ChexSystems to have some background check on you in terms of finances. Now, what is this ChexSystems?


One may or may not know this, but ChexSystems influence a bank's decision when it comes to granting one a new account. This is because ChexSystems is a consumer reporting agency which banks use to keep track of bank accounts and credit cards. ChexSystems screens those who want to apply for a new account and maintains a log of one's account activities and reasons if one's account was closed.

They make sure that one's history is clean and does not have any issues with the other banks before giving a new account. ChexSystems is under the regulation of the Fair Credit Reporting Act and is affiliated with Fidelity National Information Services; they provide financial institutions technological and banking software support. Click Here to find out what credit unions don't use ChexSystems.

ChexSystems will show the bank if one has any problems as an account holder. Some issues one has to avoid doing are using bank accounts for fraud or any criminal acts, repeated bounced checks or overdrafts, abusing ATM or Debit cards, applying for too many accounts for a short time, repeated reports of lost checkbooks or ATM cards, and unpaid debts. Doing any of this will lessen the chances of one being granted a new account.

The good thing is that one can request for a ChexSystems report to see for yourself and to gauge if a chosen bank could grant you a new account if one plans to have another account. One can request once every twelve (12) months or if one has already been denied an account in the last sixty (60) days.

But, of course, there are conditions before one can have a free copy of the report. Some of these conditions include: if one is a victim of a criminal act or fraud, if there was an adverse action taken against you if there's something wrong with one's data because of fraud, if one is on public assistance, and if one is unemployed but one plans to see employment within sixty (60) days

What to do to clear your record?

One will have difficulty opening a new bank account if one has a bad record on ChexSystems. So, what now? Are there things one can do to clear up their records? Well, fortunately, yes, there are several things one can do to clean one's record. Follow these simple procedures:

Get ChexSystems report

One can either submit an online form by visiting their website or call ChexSystems via voicemail (800-428-9623). Having one's copy of the report would make one understand why the bank denied them and see the actual and legitimate records one has, whether good or bad.

Voicing out errors and paying off debts

If one finds something erroneous in the report, one has to gather evidence supporting the claim and present it to them. The Dispute Information Section on their website is the go-to whenever problems like this arise. In that section, one is given choices on where to submit the dispute.

One can submit them online by filling out a form to upload the files that support the claim. One can also submit the documents via mail or fax (602-659-2197), which requires one to print the "Request for Investigation" form and fill up the necessary information, which one can find and get on the same link above. One must include the printed copies of the supports when submitting vial mail or fax.

Lastly, one can make a phone call. One can speak to someone using this number: 800-513-7125. But keep in mind that making a phone call is only for those minor errors or those errors that don't necessarily need evidence. Disputes concerning a much bigger issue like fraud would require supporting evidence.

However, if one's report came out accurate and concluded that you have a debt to pay, one has to pay for the debt as a solution. However, if one's budget is not exactly cooperating at the moment, one could ask the creditors to settle for an amount that is less than the debt amount.

Waiting game

If one fails to do other ways or if the ways presented failed, one could wait. Records from the ChexSystems can be removed after five years or ask the creditors to remove the record (if the creditors agreed).


One must strive hard not to have bad records at all. Take care of your finances by making good choices. Be responsible enough in making a financial decision. By doing this, one can expect nothing but good records in the ChexSystems report.

Rhyley Carney | Rhyley Carney is a New York Times bestselling author, anthology editor, comic book writer, magazine feature writer, playwright, content designer, and writing teacher/lecturer who has won five Bram Stoker Awards. More than a dozen countries have purchased her novels.


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