If you recently applied for a checking account and were denied because of a negative banking history, you’re not alone. Approximately 85% of banks use a company called ChexSystems when you apply for a new checking account. ChexSystems is the safety net for bank institutions to weed out people who have committed fraud or identity theft, but if you get caught in the net it can be crippling. And most of us absolutely require the use of a bank checking account to manage our money, pay bills, and receive direct deposits from an employer or government agency. Here’s everything you need to know about ChexSystems and how to get your name removed from their database.

What is ChexSystems?

If you're on ChexSystems, you'll have a hard time writing checks to pay for goods and services

Most consumers aren’t familiar with ChexSystems until they’re denied a new bank account or a merchant declines to accept their check. Briefly, ChexSystems is a consumer reporting agency (CRA) that tracks your checking and savings account activity. It’s similar to credit reporting agencies Equifax, Experian and TransUnion, which collect data …

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What Is Telecheck?

Everything you need to know about Telecheck

You’ve spent the last hour navigating the grocery store, filling your cart with the items your family needs for the next couple of weeks. Weary, and ready to go home, you make your way to the register to check out. The cashier scans all your items and shows you the …

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How To Dispute Telecheck

Disputing Telecheck is a major step toward financial freedom

If you’re a merchant worried about being defrauded by bad-check writers or identity thieves, you can get help from check-verification companies, which can reduce (though not eliminate) the chances you’ll sell to a customer whose check is no good. Problem is, if you’re an honest customer seeking to do business …

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