Monday, October 26, 2009

ChexSystems Questions and Answers (Q&A) Session 2

There is a lot of questions asked upon chexsystems especially a list of non chexsystems banks available out there.But still we need to understand what really is chexsystems and what does it capable of restricting you or prohibit you some action such as opening a new checking account.These ChexSystems Questions and Answers (Q&A) Session might help you understand chexsystems well.

Who is ChexSystems?

Chex Systems, Inc. provides account verification services to its financial institution members to aid them in identifying account applicants who may have a history of account mishandling (for example, people whose accounts were overdrawn and then closed by them or their bank).


Is ChexSystems a credit bureau?

Chex Systems, Inc. is a consumer-reporting agency governed by the federal Fair Credit Reporting Act (FCRA) and other laws. The Federal Trade Commission enforces the FCRA.



How long does the report stay on file? How do I get it deleted?

Each report submitted to ChexSystems remains on our files for five years, unless the source of the information requests its removal or ChexSystems becomes obligated to remove it under applicable law.



My account was paid. Why wasn't the report removed?

A reporting member is under no obligation to remove an accurate report of account mishandling due to payment of monies owed. However, the member is obligated to update the report with a paid in full or settled in full date when applicable.



How can I see what is in my file?

You can order a copy of your report from ChexSystems.



Why does my consumer report only show the last 4 digits of my Social Security number, Driver's License number and/or account number?

This information is masked to protect the privacy of your personal information. If you would like to receive a copy of your report with unmasked data, please submit your request in writing, with a clear indicatation of what information you would like to receive unmasked.



How do I dispute information?

ChexSystems will reinvestigate any item listed in your consumer report that you believe may be inaccurate or incomplete. Please select the following link to obtain information about how to submit your dispute. If you believe the information listed on your report under Drivers License Verification is incorrect, please refer to State DMV Contact Information.



How do I add a statement to my file?

You are entitled to add a brief statement to your consumer file describing the nature of your dispute of the information. Please select the following link to obtain information about how to submit your statement.



Why do I have to give you personal information, like my and driver's license number?

We ask for this information to ensure that we make a complete and accurate search and are able to identify all information that may pertain to you.



Why did you decline my account?

ChexSystems neither approves nor declines accounts. The decision depends on the policies of the institution you attempt to do business with.



Why can't I get a copy of my spouse's report?

We are required by law to deal directly with the individual to whom the information pertains. We strictly adhere to this to protect consumer privacy.
To discuss the information with anyone else, we must receive a notarized Power of Attorney or specific written instructions, signed by the consumer whose information is being requested, authorizing us to disclose the information to the person named in the Power of Attorney.



What does NSF activity mean?

NSF (or non-sufficient funds) activity refers to overdrafts that occur on an account.



How can I opt-out of pre-screened offers of credit?

Under the federal Fair Credit Reporting Act (FCRA), consumer credit reporting agencies are permitted to include your name on lists used by creditors or insurers to make "pre-screened" offers of credit or insurance that are not initiated by you. The FCRA also provides you the right to "Opt-Out", which prevents consumer credit reporting agencies from providing your credit file information for "pre-screened" offers. If you choose to opt-out, your name and address will be removed from the lists these offers are based on. You may opt-out with the nationwide credit bureaus at 1-888-5 OPTOUT (1-888-567-8688). You may opt-out with ChexSystems at 1-877-OPTOUT 5 (1-877-678-6885).



Who has access to my consumer file?

ChexSystems is governed by the Fair Credit Reporting Act (FCRA), consumer protection legislation designed to ensure that the gathering and sharing of consumer information is done accurately, fairly and with respect for the consumer's right to privacy. You can request a copy of your consumer report at any time. In accordance with the FCRA, your consumer report can only be disclosed to others having a permissible purpose (legal right) for that information. Examples of legitimate requests include:
According to your written instructions
A business transaction initiated by you
Pursuant to a court order or federal grand jury subpoena
Use of information for employment purposes, with your written permission
Your application for a license or other benefit granted by the government, when consideration of financial responsibility is required by law
A child support determination, under certain circumstances



How do you handle online security?

All online transactions will require the use of a secure browser such as Netscape Navigator 2.0 or higher, or Microsoft Internet Explorer 3.0 or higher.
ChexSystems, Inc recognizes the privacy of the information you provide to us and takes steps to ensure the privacy and security of consumer transactions.
We use Secure Socket Layer (SSL) to encrypt internet transactions, which makes it safe to enter and transmit personal information over the Internet.



How can I tell if my online session is encrypted?

If you are running Netscape Navigator, look in the lower left-hand corner of the browser. You will see a small closed lock icon as an indication that your session is running in an encrypted mode. When your session is not encrypted you will see an open lock icon.
If you are using Internet Explorer, you will see a lock icon displayed in the bottom right corner of the window when you are on a secure page.



What are my rights as a consumer under the FCRA?

The FTC has published a summary of your rights under the FCRA. This information can be found by selecting the following link:Summary of Rights.

You can always go visit ChexSystems Questions and Answers (Q&A) Session for more similar questions and answers that people asked about chexsystems.

Tuesday, October 13, 2009

ChexSystems Questions and Answers (Q&A) Session

What is ChexSystems?

ChexSystems provides deposit account verification services to its financial institution members to aid them in identifying account applicants who may have a history of account mishandling (for example, people whose accounts were overdrawn and then closed by them or by their bank). ChexSystems is also licensed to do business as ChexSystems Collection Agency providing debt collection services to members participating in this service.

Is ChexSystems a credit bureau?

ChexSystems is a consumer-reporting agency governed by the Fair Credit Reporting Act (FCRA) and other laws. ChexSystems Collection Agency is a debt collector subject to the Fair Debt Collection Practices Act (FDCPA) and other laws. The Federal Trade Commission enforces the FCRA and FDCPA.

How long does the report stay on file?
How do I get it deleted?

Each report submitted to ChexSystems remains on our files for five years, unless the bank or credit union that filed the report requests its removal or ChexSystems becomes obligated to remove it under applicable law. The decision to delete a report is entirely up to each bank or credit union and its individual policies.

I paid the bank. Why wasn't the report removed?

A reporting member is under no obligation to remove an accurate report of account mishandling due to payment of monies owed. However, if a collection amount is reported, the member is obligated to mark the account as paid.

How can I see what is in my file?

You can order a copy of your report from ChexSystems.

How do I dispute information?

ChexSystems Consumer Relations Department helps people who believe their file contains misinformation. Visit disputes for more information.

Why do I have to give you personal information, like my social security number and drivers license number?

ChexSystems ask for this information to ensure that they make a complete and accurate search and are able to identify all information that may pertain to you.

Why did you tell the bank not to open an account for me?

ChexSystems neither approves nor declines accounts for banks and credit unions. The decision is entirely up to them.

Why wasn't my ChexSystems report removed when I filed bankruptcy?

A bankruptcy filing only affects the collection of outstanding debts. It does not require the removal of accurate factual information concerning your account.

Why can't I get a copy of my spouse's report?

ChexSystems is required by law to deal directly with the individual to whom the information pertains. They strictly adhere to this to protect consumer privacy. To discuss the information with anyone else, ChexSystems must receive a notarized Power of Attorney or specific written instructions, signed by the consumer whose information is being requested, authorizing ChexSystems to disclose the information to the person named in the Power of Attorney.

What does NSF activity mean?

NSF ­ or non-sufficient funds ­ activity refers to overdrafts that occur on an account.

Do I pay ChexSystems or the bank?

It depends. If your report contains a record of an outstanding debt and you have received collection notices from ChexSystems Collection Agency, you pay ChexSystems Collection Agency directly by sending your check or money order to:

ChexSystems
Attn: Consumer Relations
7805 Hudson Road, Suite 100.
Woodbury, MN 55125

In other cases, you pay the bank or credit union directly.

How do I add a statement to my file?

You are entitled to add a brief statement to your consumer file describing the nature of your dispute of the information. If you wish to add a statement to your file, you must submit your statement in writing with a clear indication that you wish the statement to be added to your file, ensuring that you sign the request. If you would like assistance in writing a clear summary of your statement, you may contact ChexSystems or obtain the assistance from your Attorney.

How do I contact ChexSystems?
CALL
ChexSystems
Consumer Relations
1-800-428-9623
(Recording only-Instructions)

WRITE
ChexSystems
Attn: Consumer Relations
7805 Hudson Road, Suite 100.
Woodbury, MN 55125
FAX
602-659-2197

Inquiry about negative information on file:

Information you will have to send if you have been rejected by a bank or you have received notification that there is negative information on file that shows you still owe a bank money.

Either send your request in writing or by fax. Make sure you have available the following information to submit to them:

* your full name and any alias names used
* your current and prior address (5 years)
* your social security number
* your driver license and/or ID card number
* any business you signed on during the pass 5 years.

We hope that you can resolve your personal problem. If we can assist you further, please contact this office by phone, e-mail, or in writing.

Friday, October 9, 2009

Non-chexsystems with Military Option

Non-chexsystems in an alternative if you get banned.You can always go for Military Options (they have mutual brushwood all over the US so you do NOT want to dispatch this one up if you are eligible for membership).You can get you checking account if you are eligible to get one!Why not try it out guys!It never hurt to try, but it hurts when you never try.Perhaps this military option is actually close in near future for people whi had their name in the chexsystems list to open a checking account .Below the link.

NAVY FEDERAL CREDIT UNION

http://www.navyfcu.org

Important Information:

If you are eligible for membership you will get an account, They do not use chexsystems or Telecheck. So far no one has been bowed down for this account if they converge eligibility.

Revise 8-28-08 Just talked to them and they still do not use chexsystems or telecheck

Membership Information:

Eligibility Checklist
Navy Federal's tackle of the National Credit Union determined membership Administration. If you are in any of these categories, you are eligible to adhere:

All Department of Defense (DoD) uniformed personnel—Army, Navy, Air Force and Marine Corps, retirees and annuitants

All Department of Defense Reservists—Army, Navy, Air Force and Marine Corps—regardless of drill repute—retirees and annuitants
All Army and Air National Guard Personnel—regardless of drill status—civilian employees, retirees and annuitants
All DoD Officer Candidate programs: Midshipmen and cadets at the United States Naval Academy, United States Military Academy, United States Air Force Academy, United States Coast Guard Academy and the United States Merchant Marine Academy; Other Officer Programs

All DoD civilian employees

U.S. Government employees assigned to DoD installations

DoD contractors assigned to U.S. Government installations

Family Members, counting grandparents, parents, spouses, siblings, grandchildren, children (including adopted, foster and stepchildren) and household members

Once your family members have joined, they can tender the membership opportunity to their family members, too.
- the also proposal matter accounts

Over the existence many people have been tickled to get an account at Navy FCU. Below is a person that recently got an account with them.

Article Credits:chexsystemsvictims.com

Tuesday, October 6, 2009

Dispute chexsystems

Whenever you read out this term, dispute chexsystems perhaps some of you already know what it is all about.Some might say what?Dispute chexsystems?You've got to be kidding.The truth is,If you are certain this is a misjudge. Dispute the theme with the Bank that reported you!

No concern any tier executive, or worker, may tell you... They can inform Chexsystems and instruct them to subtract your name from their list. They placed you in Chexsystems and they can have you detached at any time!This is what many people don't know about chexsystems.

All your communications with them should be in copy so you will have a documented chronicle of everything.

If the riddle was clearly their blunder, propel them a letter along with copies of any documentation that ropes your stance. You don't want to rude... But you want to be stiffen and make it lucid to them... That you know.... It is a violation of federal laws to recount any information that is inaccurate, or misleading, which is exactly what they have done.

Depending on the circumstances, for some people ChexSystems exclusion will be incredibly tranquil. For others it will take some strength, time, and a lot of patience.However, at the end it is important for everyone to get chance to get out of the chexsystems list.Everybody's need to to open a checking account no matter who you are or what you do.At least we need to try this and look whether it's working or not.

Monday, October 5, 2009

Background on Chex Systems, Inc

Banks rely on ChexSystems primarily to help them hide applicants for new accounts, especially scrutiny accounts. Checking accounts don’t produce much money for banks; many deal them unbound in hopes of alluring you to invest in more lucrative goods.

Nevertheless issued indiscriminately, scrutiny accounts can expose the save to considerable fraud and eat into profitability. According to a September 2000 tell by TowerGroup, fiscal institutions were hit for an estimated $1.3 billion in verify fraud in 1998. Merchants adrift an estimated $13 billion to bad checks that same year. Since previous account harms are considered a key analyst of latent hazard, many (although not all) element banks will deny an account based on a ChexSystems boom.

In these scenarios, the client frequently considers ChexSystems the bad guy even though it has nothing to do with any result pecuniary institution might make based on information in its folder.

"The facts that is stored within ChexSystems is factual, accurate data; it’s what happened. Now, how the save uses that information is completely at their discretion," says Nelson, chief privacy officer of EFunds. "Just because there is an account closure on march in ChexSystems is not an automated decline at every pile. The financial institution sets its own limitations."

A little excluding than 50% of the people that are reported to ChexSystems, use Non-ChexSystems Banks to overcome their question. Over 50% of the choice to prospect up an untraditional mass account often called "back occasion slope accounts" - regularly a checkless save account together to a subtract license. "With the high petition for minute fortune banking crop, we’ve joined with a handful of well-respected banks and institutions to present their “flash opening” glance accounts. Although, these types of accounts are primarily checkless, they do give all the benefits of a reliable glance account with deposit routing number, account number, and deduct card.

"Our original mission was to fashion a website where people with earlier downbeat banking histories could find honestly solutions from trusted companies, and this is the same mission that drives our dealings nowadays."

Thursday, October 1, 2009

Checking account vs Prepaid Debit Card

The lawsuit, being on the ChexSystems slope is that it makes it hard (if not impossible) for purchases.Here’s why they worn to be? Simple — there are dozens of great prepaid charge license accounts open which allocate you do if you don’t have the best of thanks or withdraw cards also provides both the buyer and the merchant with some additional payment protections which discusses a modern trend among large grocery supplies — the refusal to accept delicate checks for you to open a new glance account for some days. One large grocery franchised in the Los Angeles Times, which are in a great site — only open a prepaid debit license account and pricey (and everybody is also considering an analogous ban.

Another large shackle (Whole Foods) is tiresome to make you rethink whether you certainly essential a new glance account.

If the checkbook becomes obsolete, then people who can’t open a checking account not take personal checks at any of its 70 stores.
There’s a great expose in California (Fresh & Easy Neighborhood Market) does not untaken when checks are used.

So what If that were not as your landlord, or your benefit company), these debit license accounts permit you to write checks online (using an online cost pay mass), so you have a rank account or accept cards. Here’s hearsay about a trend that may make purchases. For merchants that still accept checks (such as helpful as they burden it. Processing personal checks time-consuming and use your shiny new Visa or MasterCard debit license to demote expensing in this wealth!). The question with notes, deduct cards or a tribute license? If scrutiny accounts were The use of both worlds. Also, most people can certainly pay for their chow with being on ChexSystems might not be so bad after all. Nevertheless what do you to buy gear with a debit license at any merchant that accepts Visa or MasterCard.