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ChexSystems Blacklists and Ways of Fixing the Problem

Updated on June 16, 2016
Before applying for a bank account, you should make sure you are not on the ChexSystems blacklist
Before applying for a bank account, you should make sure you are not on the ChexSystems blacklist

It is close to impossible to find a person, who does not have a bank account or even several of them nowadays. And it is quite understanding, because money deposits are needed everywhere and anytime. So, it makes sense to apply for a bank account and use a credit card to withdraw money rather than travel or go somewhere with a pack of money in your pocket.

What you should know, though, is that applying for a bank account is quite a complicated and time-taking endeavor. The process will become even more challenging if you are on the ChexSystems blacklist. What does this mean and how does the system work? Let us find that out below.

The Truth Behind the ChexSystems

ChexSystems is a nationwide agency with an extensive database of people, who have ever applied for bank accounts. The detailed information about these people and the way they handled their accounts is provided in the ChexSystems reports. So, if there have been any negative issues associated with the previous accounts of clients or their credit history, this may trigger serious problems with further accounts. In most cases, banks that use the ChexSystems data won’t approve applications of clients, who had any bank account problems in the past. Currently, more than 80% of banks in the USA use the ChexSystems reviews and database info when approving or denying the applications of the potential clients.

Banks often use ChexSystems reports to decide whether to approve account applications or not
Banks often use ChexSystems reports to decide whether to approve account applications or not

The Information the ChexSystems Provides to the Banks

ChexSystems gathers and provides the most important financial information about each client, who has ever applied for bank accounts. The information provided by the agency to the bank generally involves the following aspects:

  1. Reviews and Reports

When a bank addresses the ChexSystems database, it requires the most crucial information, which is provided in exhaustive reports. These reports (or reviews, as they are also called) include information about the credit history of a client, the fees unpaid in the past, check orders, cases of credit freezes initiated by a client (this means that you cannot be provided with another account unless you defreeze the previous one) and other fraudulent account-related actions.

2. Risk Factors

Each client, who is enlisted in the ChexSystem database, is given a specific score, which reveals the degree of risk a bank faces when approving an account he/she applies for. The consumer score may range from 100 points and up to 899 points. Correspondingly, the higher the client score is, the more chances this person has to get a new bank account. So, if you know that you have ever dealt with the ChexSystems banks, it makes sense to find out your consumer score via fax, telephone or e-mail in advance. This knowledge will give you an idea of whether it is reasonable to apply for a new bank account or it is nothing more than just a waste of your time and effort.

By the way, the ChexSystem agency has its official website, where the required information is provided. What’s more, you can check out your customer score and even print out the copy of your review (report) right at the website one time per year. This is very convenient if you use bank accounts on a regular basis.

The fact that you are on the ChexSystems blacklist does not mean that your account application will be denied
The fact that you are on the ChexSystems blacklist does not mean that your account application will be denied

What If You Are on a ChexSystems Blacklist?

The ChexSystems agency stores the information about all people, who have applied for bank accounts during the previous five years. This, however, does not mean that you will not be able to get any type of a bank account during this time if you had any financial or other bank account problems in the past. There are credit unions and banks like that are known as second chance banks, which do not pay any attention to the financial history or any other account issues you have previously had. These financial institutions do not use the data provided by the ChexSystems agency in the process of reviewing the application of a new client. This is very convenient and helps get an account application approved without any serious hassle and waste of time. By offering you guaranteed approval options, second chance banks help you solve your current financial problems.


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