Chex Systems is a consumer credit reporting agency and check verification system. While the three bureaus of reporting credit in the United States, Experian, TransUnion, and Equifax, release information about how consumers handle their credit, Chex Systems reports information on how consumers handle checking and savings accounts. Some banks are fairly flexible about what they report to Chex Systems, but some are very strict.
Information on Chex Systems may beincorrect, so it is possible that you could be denied banking services based on a mistake by a bank. Some analysts have estimated that 70% of Chex Systems reports have mistakes in them. Information about you remains in the Chex Systems list for 5 years.
One major difference between Chex Systems and the credit reporting agencies is that Chex Systems doesn't calculate a score for each person who has a checking account. They only report negative information about accounts, such as overdrafts. This means, if Chex Systems has reported on you, negative information about you will likely keep you from opening a new checking account.
In 1999 Chex Systems was officially designated a consumer reporting agency, meaning it had to comply with the Fair Credit Reporting Act. That means that once a year you are allowed to obtain a free copy of your Chex Systems report and dispute or demand proof about claims that may show up in your report.

What if there is a Chex Systems Report on You?
If you wind up on the Chex Systems list, it is probably from checking overdrafts, depositing of fraudulent checks, or suspicious handling of your account. If Chex Systems has a report on you, it may mean that you'll be denied opening a bank account. Without basic banking services, you will have to make use of other services, such as check cashing agencies, which charge excessive fees to cash your check.

What Can You Do?
Most people don't realize that it is possible to take your name off of Chex Systems, but it is! The first thing to do is demand your yearly copy of your Chex Systems report if there is one about you. Getting your name out of Chex Systems isn't unachievable, but it isn't easy, either.
Thankfully, The Guide to Get Off Chex Systems is a step-by-step guide to getting your name off of the Chex Systems database without waiting 5 years for information to be deleted from your report.
Chex Systems isn't designed to be easy for consumers to debate. But Chex Systems is required to delete erroneous data from their database. The Guide to Get Off Chex Systems walks you through the somewhat complicated process of getting your name off of the Chex System list. Need a checking account fast?
And, you should also know, when you buy the Guide, you also get two free applications where you are guaranteed the chance to open a bank account. These are two non chex system banks that ensure you'll be 100% approved. Most services charge for applications, but not The Guide to Get Off Chex Systems. And the Guide will show you exactly how to hold your own against Chex Systems and make sure your name isn't on there by mistake, and to make sure that wrong information is removed.
It's not easy to confront a big credit bureau without the proper tools and information. The beginning step is to make up your mind that you will not let them control your future banking. The 2nd step is to click on the author's link below to find out how you can get more information about the guide and more things you may not have known about the chexsystem nightmare.