| The ChexSystems provides deposit account | | | | file under law. However, if a collection amount is |
| verification services to its financial institution members | | | | reported is paid, they is obligated to mark the account |
| to help them to identify account applicants that may | | | | as being paid. |
| have a history of account mishandling. The service | | | | If you are reported to the ChexSystems make sure |
| sounds useful, and it is for banks and financial | | | | not to close any other checking accounts you may |
| institutions. It helps them be alert cases of fraud and | | | | have. Pay all of the overdraft fees as soon as |
| other abuses. Those who routinely and intentionally | | | | possible. Make good on the personal check you have |
| write bad checks should have their criminal activities | | | | wrote and are out. Once you have paid the overdraft |
| recorded in ChexSystems. However, not all negative | | | | fees and satisfied everyone that had received a |
| activities are cases of fraud or intentional misuse. | | | | bounced check, then make sure to have a explanation |
| Many consumers have written at least one check that | | | | of the matter inserted into your ChexSystems file. |
| has bounced and if you had a checking account | | | | Just because you are on the ChexSystems, there are |
| closed in the negative balance and did not pay the | | | | still alternatives to getting a checking account from a |
| negative balance in time, the bank will have reported | | | | bank. Sometimes this can be overlooked by the bank |
| the consumer to the ChexSystems. | | | | officer so you may be able to open a new account. |
| Every report submitted to the ChexSystems remains | | | | There are also many banks On-Line that offer second |
| on the files for five years, unless the bank or credit | | | | chance checking accounts to people who has been |
| union that filed the report with them has it removed or | | | | reported to the ChexSystems. |
| the ChexSystems becomes obligated to remove the | | | | |