Monday, January 11, 2010

How To Find Out If You’re On ChexSystems’ List

Most people find out that they’ve been reported to Chexsystems in the most embarrassing way: they go to a bank to open a new account. Then the branch manager or customer service representative comes back to tell them that there’s a problem that’s preventing them from opening an account: the customer is on file with Chexsystems. You will typically be suggested that you try and work things out and then come back. Although that will be said to you with a smile, it doesn’t make it any less embarrassing.

The better (and more dignified) way is to stay on top of things by ordering your ChexSystems report from the company. You can order the report to learn what information, if any, ChexSystems, Inc. has about you. If you have been denied an account from a bank or credit union, and ChexSystems was used in the decision process, this information will help you understand what contributed to that decision. Once it’s in your possession, review it in the most thorough way possible. It will include the following sections: your name and “consumer identifier”, one or more items of “Reported Information” (this is the bad stuff that is being reported about your banking history!), one or more “Inquiries Initiated by Consumer Action” (these are things you have allegedly done that caused someone to pull your Consumer Report), one or more “Inquiries Not Initiated By Consumer Action” (these are reports pulled by others about you without your direct permission), one or more “Retail Information” items (from other check-writing databases such as SCAN), one ore more “History of Checks Ordered”, and then personal information about you, including your Social Security Number, and Drivers License