chexsystem

How Long After An Overdraft Are You Reported To Chexsystems?

All About Chexsystems Chexsystems is a consumer credit agency, much like Experian, Transunion, and Equifax Litigo can help you with them all. The main difference is that the other credit agencies report on how well you’re using your credit accounts, whereas Chexsystems reports on how well you are using your deposit accounts. A smaller, but […]

Database can shut people out of accounts

Zikomo Fields pulls in more than $100,000 a year as a software engineer in Kansas City, Mo. But the 36-year-old has no bank account. It’s not that he doesn’t want one. Fields simply hasn’t found a bank willing to house his money. Instead, he walks around with $23,000 saved on a prepaid debit card. Fields […]

Minor trouble shouldn’t mean long ban from banks

Banks are under no legal obligation to do business with people who have been financially irresponsible. Even so, the common practice of blacklisting customers who have made minor financial missteps and denying them access to basic banking is an abuse that hurts the economy, young adults and poor neighborhoods. It’s up to consumer advocates and […]

Capital One will change way it uses ChexSystems database

ChexSystems has long been a partner of the financial services industry, collecting information about consumers’ financial habits and supplying it to banks. Banks have relied on the information to identify people accused of fraudulent activity at one institution, so they can be prevented from carrying it out at another. But consumers have complained that the […]

Knowing more about which banks use ChexSystems

Wondering which banks use ChexSystems? Well, the fact is that many of them are and this is certainly great news for their activities and profits, because it’s very well known that banks lose millions of dollars every year due to check frauds. You don’t have to be a victim of check fraud get help from […]

Listed in chexsystems for suspected fraud activity?

If you have been listed in the Chex Systems Inc. database for suspected fraud activity than this chexsystems experience may be related to you? Get help from Litigo with your issues. “I have been in business for over 25 years, and had a business bank account with JP Morgan Chase Bank for 10 of those […]

Can Information On A Chexsystems Report Be Removed?

Most American consumers old enough to open a bank account will find they are the subject of a Chexsystems report when they make an attempt to open the account. Banks and other financial institutions use this account verification and reporting service to identify high risk consumers who have a history of poor account management or […]

Why Do Financial Institutions Use Chexsystems?

Why do most financial institutions in the USA use Chexsystems for consumers who want to open up a bank account? Because the account verification services provided help the banks lower the potential risks involved. Many consumers have experienced problems with bank accounts in the past, with overdrafts, closed accounts due to insufficient funds, and sometimes […]

Does Chexsystems Use Unfair Reporting Practices?

Chexsystems is an agency that helps prevent fraud within the banking industry by providing an account verification service. This service is used by most banks in America, and a majority of credit unions as well. EFunds is the company behind the credit reporting agency, and there have been a number of complaints concerning whether the […]