Open a Bank Account - No Chex Systems Banking
In a free society, you have certain rights that nobody can take away from you. These include the freedom to: pursue your own career choices, live where you want, and spend time with those whom you choose. Unfortunately, the right to having your own bank account is not included in that list ' although sometimes it feels like it should be.
In the case of banking, any bank can refuse you a new checking or savings account for whatever reason they like. Of course, most banks very much want your business - and unless given a reason to do so - would never want to turn away new customers.
That all changes, however, if your name appears in something called Chex Systems.
What Chex Systems Is
In case you do not already know about it, Chex Systems is a risk management database of sorts. Banks will log your name into this database if they feel that you have done something in the past such that you represent a potential risk to themselves and other banks.
Of course, not only do banks log some customers' names into Chex Systems ' they also check with this database when considering the checking account application of a prospective customer.
Your name can be reported to Chex Systems for a host of reasons. But, the common thread running through all of these reasons is that the bank believes you could be a banking risk.
Getting Your Name Removed from the Database
If you have applied for a new checking account in recent weeks or months but have been rejected but one or more banks, it is highly likely that your name appears in Chex Systems.
You probably believe that your name has been reported to Chex Systems by mistake, especially if you have a squeaky-clean banking record and have not committed any offenses that would warrant your name appearing there.
Unfortunately, it is very difficult to get your name removed from Chex Systems. The only way tto do so is to wait a period of months or years before it is removed. A better choice is to open a no-Chex-Systems bank account.
Open A Bank Account ' No Chex Systems Banking
A no-Chex Systems bank account is just what it sounds like ' a checking account through a bank that does not refer to Chex Systems when considering your application.
These banks are basically like any other bank ' except that they promise to never even look at Chex Systems when considering your application. Your chances of getting approved are therefore close to 100%.
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