You may be reported to ChexSystems if you have:

A History of Poor Account Handling or Significant Abuse

An Outstanding Debt with the Bank or Financial Institution

You have been involved in Fraud where the Bank or Financial Institution has Suffered a Loss

ChexSystems, Inc. is a Reporting Agency that continually updates a database of poorly managed check and savings accounts. This information is shared between a number of different banks, credit unions, and financial institutions. The use this to assess the level of risk of opening new accounts including second chance checking accounts. It is not the role of ChexSystems to approve or decline new accounts, but acts as a platform which the subscribing financial institutions base their decision.

The also act as ChexSystems Collection Agency providing collection services to participants. eFunds owns both ChexSystems, Inc and ChexSystems. eFunds Corporation is the nation's leader in risk management and electronic payments. eFunds is also the parent company of Connex, SCAN, and NCPS.  Currently, ChexSystems simply dominates the banking industry as the main verifiers of checks and are the number one risk management company. Smaller banks use companies such as TeleCheck and Colorado Cheque Connection (CCC). Many others use credit reports or have developed their own risk management systems.

Reports submitted to ChexSystems remain on their files for five years, unless the source of the information instructs its removal, or ChexSystems becomes obligated to remove it by law. A reporting bank or institution has no obligation whatsoever to remove any report of account abuse, mishandling, or fraud, provided it is accurate. If it is found to be inaccurate you will have no problem opening up another second chance banking account.

Click Here To Apply for our Recommended 2nd Chance Checking Account