Getting A Bank Account After Being Reported To ChexSystems


If you have ever been in trouble with your bank, you have most likely been reported to Chex Systems. Perhaps you’ve had some NSF checks, or maybe you closed an account without settling a negative balance with the bank. No matter the reason, once you are reported to Chex Systems, managing your finances can be a bit difficult.

Chex Systems is a reporting agency for banks, much like credit bureaus are for lenders. Any problems reported by a bank, including NSF checks and negative balances, will show up on your report. After an item is added to your record, it will stay there for five years.

Nearly all banks use Chex Systems to evaluate potential new customers. Chex Systems does not approve or deny account applicants; it is up to the bank to decide how to use the information. However, if you have reported items, it can be quite difficult to get a new checking account.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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