What is Chexsystems is fact?

[ArinaM]

Hi guys! Have you ever faced with Chexsystems checking in bank? How does it work?

 

[37riched]

Nope, can you spread some light for that matter ? I just googled a bit and it making some background checking about how clients use their deposit accounts. So what for ? However it's also about bounced checks, overdrats and checking accounts too. I think you should be fine since it's automatic in some way.

 

[ArinaM]

Thanks for answer!

Nope, can you spread some light for that matter ? I just googled a bit and it making some background checking about how clients use their deposit accounts. So what for ? However it's also about bounced checks, overdrats and checking accounts too. I think you should be fine since it's automatic in some way.

Yes I'm fine but it's interesting for me

 

[baracud@]

If you don't want to face with Chexsystems you can find a bank which doesn't use this checking. Here is an updated list of those banks Also there you can find more information about the mechanism of Chexsystems.

 

[Kennyrice]

ChexSystems is a consumer reporting agency (CRA), and it operates like the credit agencies Equifax, Experian, and TransUnion. In fact, over 80% of financial institutions use CRAs like ChexSystems and its rival, Early Warning Services, to determine whether to grant someone a bank account.