subject: Checksystems - tell me about this company [print this page] Checksystems - tell me about this company
If you have ever written fraudulent checks or failed to pay an outstanding balance with your bank, then you have probably been reported to ChexSystems. This business is just like the credit reporting agencies except that it keeps track of customers who have written worthless checks. In addition, ChexSystems tracks customers who fail to pay their debts to banks. For example, if you go to the bank and try to open a checking account, the bank will run your name and social security number through ChexSystems to determine whether you currently owe money to the bank, or whether you have ever written fraudulent checks. In such cases, your checking account may be denied.
To confirm your free report, go to consumerdebit.com. If you have a poor ChexSystems history, you still have the opportunity to consult with various banks to see if they offer the second chance program. In this program, you will have to attend a mandatory money management class, and you will be given a restricted account. During this probationary period, you cannot bounce checks or accumulate overdraft fees. If you fail to follow the strict guidelines, you can lose your checking account. If you choose not to go with a traditional bank, there are many non-ChexSystems banks on the internet: These banks cater to consumers who cannot open a checking account or who has a history of writing bad checks. Before signing up with any of these banks, make sure you review their terms and agreements. Some of these companies also charge high monthly fees.
