Most banks and credit unions use it when opening a new deposit account. As bad as it is getting listed, getting help from these companies is reportedly quite difficult and some even say down right impossible. If the answer to any of those questions is yes, then ChexSystems will have a record of it. If a customer appears in the database, then they are deemed a risk for the bank. While other websites supposedly offer lists of non-Chexsystems banks, in our experience these lists are ALWAYS innaccurate, outdated, or require you to drive hundreds of miles to a mom & pop bank in the middle of nowhere. This will give you time to save the money to satisfy your obligation or debt to chex systems.
Instead of monitoring your credit, ChexSystems monitors your bank accounts. When your U.S. Bank Package Money Market Savings balance reaches $1,000, you’ll receive a $50 U.S. Bank Rewards Visa Card. Having a good credit score can increase the chances of obtaining credit through a bank; however, it may not affect the chances of opening a checking or savings. If you have been denied from opening a bank account, we know that it can create a number of major inconveniences in your life. ChexSystems is a database of information, provided by financial institutions, containing reports on consumers with account mishandling issues in their past.