Banks and credit unions report incidents to ChexSystems to protect themselves and other banks in the future. You get reported to ChexSystems if your account is closed for cause.
How would you find out if you're listed in ChexSystems?
Contact ChexSystems, If you contact ChexSystems and provide proof that you have been denied a checking account within the past 60 days, ChexSystems will send you a copy of your report at no charge . Otherwise, there is a fee.
Yes, Bank of America does use ChexSystems. It has been reported that B of A has allowed customers to return once their balance has been paid off to ChexSystems. It would make sense that this would only be true if there was no fraud involved. No promises it's just what we've heard.
After a bankruptcy will the balance show as zero on ChexSystems?
I consulted a bankruptcy attorney on this one. Yes, the balance should show zero, but the listing can remain for the balance of the five year term on ChexSystems. www.badcreditinfo.com/
