How to Order a ChexSystems Report and Get a New Account

By Lisa Phillips on Aug 31st, 2011 in Chexsystems

Did you know a report is being kept on how you handle your bank accounts, including checking and savings?

ChexSystems is a consumer reporting agency that maintains a massive database on all consumers that have bank accounts.

You should know what information is being stored and reported about you. Negative information in ChexSystems can remain in your report up to 5 years.

Perhaps you discovered there was negative information in your ChexSystems Report because you were denied a bank account. If so, you have the right to see what information exists about your banking habits.

Banks and credit unions report accounts to ChexSystems for various offenses but below are some of the more common reasons:

• Uncollected overdraft fees, ATM transactions or Electronic Payments which the bank honored even though the customer had insufficient funds
• Account Abuse (Savings and Checking)
• Debit Card or ATM Abuse
• Fraud
• Multiple Overdrafts.

There are several ways to get your ChexSystems Report:

1. Online
A ChexSystems Report can be ordered online at ChexSystems Consumer Assistance.

2. U.S. Mail
ChexSystems
Attn: Consumer Relations
7805 Hudson Road, Suite 100
Woodbury, MN 55125

3. Telephone.
Order ChexSystems Report by calling (800)513-7125. When ordering your ChexSystems Report you may be asked for basic information such as name, address, social security and date of birth.

4. Fee
There is a $9.00 fee for your ChexSystems Report.

5. Get a Free ChexSystems Report
Consumers are entitled to a free ChexSystems report once every 12 months under the FACT Act. You can order your free report under the FACT Act online at: ChexSystems website

Other criteria may entitle consumers to a free report are:

• Denied a bank account in the last 60 days
• If you have been the subject of an adverse decision, such as denial of credit insurance or employment based off your Chexsystems report within the past 60 days
• If you are unemployed and intend to apply for unemployment in the next 60 days
• If you are on public welfare assistance
• If you have reason to believe your file contains inaccurate information due to fraud

Get a New Account.
If you are unable to get a bank account due to ChexSystems there are options. One alternative, which many consumers are pleased with, is the UPside Prepaid Visa. They offer free direct deposit and online check writing.

In order to write a check all you have to do is log into your account and select the “Write a Check” button and fill out the payee name, address and amount. The check will be debited from your prepaid account and sent automatically on your behalf. You even have the ability to stop payment if the check has not been cashed by the payee.

The UPside Prepaid Visa also has very low fees compared with other prepaid cards. There is no activation fee and only a $0.99 per month fee if you load $500 or more each month. Even if you load less than $500 the fee is only $2.99. There is no ChexSystems and no credit checks. It is good to have something to fall back on in case you are unable to get a traditional checking account.

ING DIRECT
The High Yield Savings with the Orange Savings Account℠ from ING DIRECT has no hidden fees or service charges and no minimum deposit. There is no ChexSystems with the Orange Savings Account; however, they verify your identity by making a small deposit in an existing checking account at another banking institution. Open your online savings account today!

The Electric Orange℠ checking account from ING DIRECT is not only an above average checking account because it is an Interest Earning Account but for other reasons such as: (1) No ChexSystems; (2) No Overdraft fees; (3) No ATM Surcharge; (4) No Monthly Fee; and (5) Earn a $50 bonus when you open an account.  Open your online checking account today!