ChexSystems is an association of financial institutions that network together in order to develop a database that maintains the records of mutually unwanted customers. To make sure that only financially responsible individuals open up checking accounts at member institutions, these banks report on customers who demonstrate poor financial management skills. When a customer’s checking account is closed due to demonstrated mismanagement, then he or she is reported to Chex Systems. Once done, the customer will have a very difficult time opening up an account at any other financial institution partnered with Chex Systems for the next five years.
You can contact Chexsystems at:
ChexSystems Consumer Relations
7805 Hudson Road
Suite 100
Woodbury, MN 55125
Ph: (800) 428-9623, (800) 513-7125
*NOTICE* – We are not lawyers, and nothing contained here should be construed as legal advice! We can only offer our educated opinions. If you need legal advice, please contact a lawyer.
Step 1:
Go to the ChexSystems official website at ConsumerDebit.com and request a copy of your ChexSystems report. By law, they are required to send you a free copy.
Step 2:
After you receive it, make a copy of letter # 1 listed below, editing your own personal details where necessary. Place the letter into an envelope and go to the post office.
*IMPORTANT* – You must send the letter you copied below via CERTIFIED MAIL, with a return receipt requested. This will not only ensure its delivery, but you will have a documented time of when it was received. This is very important because ChexSystems is governed by the FAIR CREDIT REPORTING ACT as a consumer reporting agency. By law, they have to investigate and verify any disputed information within 30 days. If they fail to respond or verify your information, all disputed information MUST be removed. Almost all times, they fail to do so within 30 days, and your information must be DELETED!
If they do send you a letter verifying your disputed information within 30 days, then the next step is to send Letter # 2 below.
If they fail to respond to your initial letter within 30 days, go ahead and send Letter # 3 below.
If your information is verified, or you do not hear back within 30 days, you should ALSO send letter # 4 at this time, which should be mailed to the original bank that reported you to Chexsystems.