What is ChexSystems?

Commonly referred to as the first of the three major "Check Systems" in the U.S., Chex Systems is an association of financial institutions that network together in order to develop a database that maintains the records of mutually unwanted customers. To make sure that only financially responsible individuals open up checking accounts at member institutions, these banks report on customers who demonstrate poor financial management skills. When a customer's checking account is closed due to demonstrated mismanagement, then he or she is reported to Chex Systems. Once done, the customer will have a very difficult time opening up an account at any other financial institution partnered with Chex Systems for the next five years.

Since the vast majority of financial institutions (banks) reject potential customers who are on file at Chex Systems, being reported to them can put an individual at an extreme disadvantage. But what, exactly, does it take to get a checking account closed and reported to Chex Systems in the first place? The answer the bank usually gives out is simply "closed for cause." Yet there are many ways that a customer can end up having his or her account terminated. These range from acts as serious as fraud to the simple irresponsibility that leads to excessive overdrafts. It is important to remember, however, that policy can vary greatly between financial institutions. Depending upon which bank is in question, instances in which accounts are "closed for cause" can involve customers:

? not reimbursing their bank for overdraft amounts

? misusing savings accounts, ATMs or debit cards

? offering information that is misleading at the time the account is opened

Yet while there are many factors that can lead to account closure, banks are not always forthcoming about the specific reason for terminating an account. This can lead to some confusion when one seeks the reason for being denied a new account. Fortunately, anyone who has been blocked from opening an account at a financial institution due to the involvement of Chex Systems can request a copy of their Chex Systems file and use the information provided on our website to begin banking again quickly.

For more information, including a free Chexsystems removal kit, and list of 100 non-Chexsystems banks, please visit www.NewCheckingAccount.com

Scott Felix - Formerly stuck in Chexsystems, now a consumer advocate, freely helping people get out of Chexsystems since 2001.

In The News:

The video gamer’s guide to personal finance  The HinduA personal finance blogger on why unlocking the next level is good motivation when it comes to your finances.
Got goals? These simple actions will help you get the things you want  CNBCEveryone's got money goals. We want houses, vacations, healthy bank accounts — the things that make life worth living. You probably know people with great ...
‘Unfiltered: Duran + Kitces’: Personal Finance Industry Leaders Get Real in New Podcast  Global Banking And Finance ReviewUnited Capital Financial Advisers LLC (United Capital), the countrys first and largest financial life management firm, today launches the inaugural episode.
Fintech sector cant deliver if data is kept personal: Finance Secy Garg  Business StandardIt will not be possible for the digital and fintech industry to deliver its services if financial data is kept personal, said Subhash Chandra Garg, Economic Affairs ...
How Fintech Startup Basis Is Looking To Change Personal Finance For Women  Inc42 MediaOnly 3% of Indians invest in the stock market, and almost all of them are men. Basis received the SEBI Registered Investment Advisor (RIA) license recently on ...
This Financial Pop-Up Is Changing The Personal Finance World For Young Female Investors  ForbesPersonal finance expert Farnoosh Torabi is launching a pop-up called Stacks House to create an interactive experience for women and money. Her goal is to ...
Holi 2019: Key money lessons from the festival of colours to improve your financial health  The Financial ExpressApart from playing with colours on Holi, people also indulge in delicacies. Hold on to this spirit of Holi and take inspirations to make your financial health better.
PERSONAL FINANCE MANAGEMENT: How banks should use personalized services to increase customer satisfaction and  Business Insider IndiaThe ability to conduct banking activities via a sleek mobile app is no longer enough to satisfy consumers - it's table stakes.Banks need to focus on deploying.
CBD Easter candy has arrived, and over 92% of kale samples contained two or more pesticides study finds  MarketWatchHappy Wednesday, MarketWatchers. Don't miss these top stories: Fast-food chains: Come for the coffee, stay for the cheeseburgers and french fries.
Know Your Money: Read these bestselling Personal Finance books  Zee BusinessWant to become rich fast? Well everyone wants to be one but sadly there is no way to become a billionaire overnight. Becoming financially sound requires hard ...
Personal Finance Queries For The Day (04-03-2019)  Outlook IndiaPersonal finance queries responded by industry & subject-matter experts.
Weekend catchup — this week’s personal finance headlines  Financial TimesThe National Health *Service* paid almost £35m in tax charges for thousands of its staff who breached pension savings limits, according to data disclosed by the ...
Personal Finance Queries For The Day (25-02-2019)  Outlook IndiaPersonal finance queries responded by industry & subject-matter experts.
7 Best Personal Finance Tips For 2019  ForbesThese are the best personal finance moves for 2019.
A Recession Is Coming, Here Is How To Fix Your Finances Before It Hits  ForbesIf the sound of a recession makes your stomach lurch, there's a good chance you're not financially prepared if it were to happen soon. Here are a few things you ...
How personal finance guru Jill Schlesinger got smart about money  ReutersCHICAGO (Reuters) - Jill Schlesinger got her start on Wall Street, and that is where she learned a lot of what she knows about the financial world. But she has ...
3 Reasons to Invest in REITs This Year  Helena Independent RecordReal estate investment trusts are off to a strong start this year. Here's why their run may continue and why you should add them to your portfolio.
Choosing between simple and complex personal finance apps  Born2InvestWhen people hear the word “budgeting” or “personal finance management,” they don't exactly think of it as a fun activity. But at the same time, many people also ...
Utility Scams And Identity Theft | Smart Change: Personal Finance  Sioux City JournalMoneyTipsYou've received a phone call from a utility company demanding a payment right now or your utilities will be immediately shut off – or maybe ...
Don't Let Taxes Kill Your New Business  Sioux City JournalMoneyTipsIt is an exciting time when you start your new business. You have so many things to think of that you may forget one of the most important aspects —
Are Tax Credits Better Than Tax Deductions?  Helena Independent RecordAs a taxpayer, it helps to do everything you can to lower your ultimate IRS burden. And part of that means capitalizing on key deductions and credits that save ...
5 personal finance and investing apps worth a download  MicWouldn't it be nice if we could all just have a personal money manager who helped us budget, save for the future, deal with taxes, and all the other head-swirling ...
This book about how to get rich sold more than 32 million copies—here are 5 essential lessons you need to know  CNBCIf you've ever searched on Google "best personal finance books to read," you've most likely seen the title "Rich Dad, Poor Dad" appear at the very top. The book ...
5 Ways to Spring-Clean Your Finances | Smart Change: Personal Finance  Journal TimesYou've probably heard of spring-cleaning your home, but in addition to decluttering your garage, clearing out your basement, and tackling that porch repair ...
Personal Finance Software Market Research 2018-2023 : Analysis Of Key Players ,Potential Growth, Share, Demand And Forecast  The NewsmatesPersonal Finance Software Market Report Provide Analysis of Personal Finance Software industry on the basis of Current Market trends, Product type, Top ...
Money Girl on Personal Finance  Motley FoolLaura Adams of the award-winning "Money Girl" podcast comes on the show to talk about financial literacy, podcasts of yore, and more.
Your digital profile to affect credit score  LivemintIt is not just your older loans or credit card repayment history that is being used to decide whether you should or should not get a loan. Increasingly, alternative ...
18 Quotes on Money and Personal Finance (That Can Make You Rich in More Ways Than One)  Inc.There's more to true wealth than just money -- much more.
Federal budget 2019: Eight ways the budget will affect your personal finances  The Globe and MailThe federal budget doubles down on help for first-time homebuyers, but it also sets its sights on students, environmentally minded car buyers, low-income ...
PERSONAL FINANCE: How to deal with volatile markets as you approach retirement  The MercuryRetirement is an important milestone that often comes after years (or decades) of careful planning. For those who've saved diligently and are nearing the end of ...
Just married? 5 tips to maintain financial health  Times NowAfter marriage, the personal finance habits and other financial decisions of individuals need a minor tweak which can be beneficial for the wholesome financial ...
The FAA responds to Capt. Sullenberger and what Kool-Aid and cigarettes have in common  MarketWatchHappy Tuesday, MarketWatchers! Don't miss these top stories: Personal Finance. The physical and financial costs of extracurricular sports — and the potential ...
3 Tax Tips for Freelancers -- by Freelancers  Helena Independent RecordWith the changes made by the Tax Cuts and Jobs Act not well understood by many Americans, taxes in the United States can be confusing enough for ...
ISA 2019: Use your allowance now or LOSE it – investors warned ahead of April deadline  ExpressThe Isa allowance is issued on a "use it or lose it" basis, so if you don't use yours before the deadline of midnight on Friday April 5, you have lost it for good.
Spring Statement: What does it mean for your personal finances?  Financial TimesNo *fresh* policy announcements, but future consultations and forecast changes could have an impact.
Has Trump Broken His Social Security Promise?  Helena Independent RecordThe president's newest budget proposal raises doubts about his hands-off approach to Social Security.
High Schools Fail at Teaching Personal Finance, Millennials Say  The Motley FoolA majority of today's young adults say that their educations were too heavy on algebra and chemistry, too light on things like stock market basics and how to file ...
Islamic asset management in global markets  Independent OnlineIslamic finance, in embracing a wider range of asset classes, is slowly making inroads into mainstream investment markets.
Thursday's personal finance stories  MarketWatchA record number of Americans now have access to a credit card — and it's not going great and one big reason to move your family out of certain cities — and ...
OPINION: The 6 B's of managing your budget  Independent OnlineI get it. Budgeting can be overwhelming. With having to track all your expenses and figure out which categories to prioritise.
U.S. Consumer Comfort Rises as Personal Finance Outlook Improves  BloombergQuint(Bloomberg) -- U.S. consumer expectations rose this week as a gauge of views approached a 17-year high, signaling improved sentiment after a five-week ...
Elizabeth Warren wrote a book of personal finance advice. How does it hold up?  The Washington PostAs someone who has covered the personal finance industry for years, I like to say there are three schools of personal finance and investment writing. The first ...
How I Get It Done: Suze Orman Gives Money Advice From Her Private Island  The CutSuze Orman gives an interview about money advice, her career and retirement, and rereleasing her book 'Women & Money.'
Light the FIRE and lose the fear of getting fired  LivemintPattabiraman Murari works because he wants to, and not to pay the bills. The 44-year-old associate professor at IIT Madras decided that he wanted to become ...
What Is Financial Literacy and Why Does It Matter to Me?  TheStreet.comFinancial literacy is a hot-button issue as memories still linger over the Great Recession and as millions of baby boomers hit retirement age, and as a legion of ...
For LGBTQ people, personal finance can be extra stressful  Marketplace APMWhen it comes to the economy, parts of your identity, such as gender, race or sexual orientation can impact how you feel. A new project from WNYC studios' ...
Personal finance app HyperJar preps for spring launch  Fintech FuturesLondon-based personal finance app HyperJar is getting hyped up for its launch this spring.
Personal finance a taboo subject in health care  Medical XpressLisa Engel never had an interest in finance and did not see it becoming part of her career in health care. But that changed about 10 years ago when she worked ...
Cross-border financial planning: Six tips to get it right  Moneycontrol.comThe first thing to be checked is if a Double Tax Avoidance Agreement exists between India and their country of residence.
Experts Answer Eight Crucial Personal Finance Questions  Willamette WeekAs the saying goes, "More money, more problems." Of course, the problems encountered by, say, a super-rich rapper are different from those of average office ...
Personal Finance Show: How to get gold and top trusts for dividends  Investors ChronicleHow to invest in gold, top trusts for dividends and assessing the best income payers.
Research debunks myths about life cover  Independent OnlineIt's becoming a more popular choice for middle class South Africans to buy insurance products.
How to bounce back from a bad financial record  Independent OnlineA blemished financial record need not be insurmountable.
How I Get It Done: Money Expert Farnoosh Torabi Splurges on a Personal Stylist  The CutFarnoosh Torabi, the host of So Money podcast, talks about being a breadwinner, splitting finances with her husband, and teaching her kids about money.
This French tycoon and his $6.7 billion loss  Independent OnlineXavier Niel has been losing money faster than his telecommunications company has been dropping customers.
Finance Bill 2019 becomes Act: President okays interim Budget 2019  Economic TimesThe interim budget 2019 finance bill has been assented to by the President on February 21 thereby making it an Act. This means that the proposals in the ...
Dennis Publishing acquires Kiplinger's Personal Finance magazine  New York Post British media company Dennis Publishing is on the prowl for US titles to add to its growing media collection, Media Ink has learned. Dennis, which owns The ...
Fed holds rates steady. Here's what that means for you  CNBCIf you're concerned about what Wednesday's Fed decision means for your bank account, mortgage loan or credit card — as well as student debt, home equity ...
OPINION: What is tax morality?  Independent OnlineJade Els and Willem Oberholzer are Tax advisers for Probity Advisory and give their insight on the topic of 'tax morality'.
Financial Advisors Industry News: Compliance, Retirement Planning, Personal Finance  Investor's Business DailyHow do you become a financial advisor? Or if you're already in the financial planning industry, what are the best ways to attract new clients and grow your ...
PERSONAL FINANCE: Decades from retirement? How to handle market moves  The MercuryAfter one of the longest bull markets in history, stocks experienced some major ups and downs toward the end of 2018. This increased market volatility grabbed ...
Fredonia High School class teaches personal finance skills | News, Sports, Jobs  Evening ObserverFredonia High School seniors are learning how to balance checkbooks, save up for purchases and resist debt in a new class sponsored by a personal finance ...
The $1 tip is dead and how married couples should file their taxes  MarketWatchHappy Friday, MarketWatchers! Check out today's top personal finance stories as you head into the weekend. These are the 3 big reasons you should use a ...
Federal budget 2019: Liberals offer some help in resolving one of the country's biggest personal-finance challenges  The Globe and MailThe Liberal government has produced a full life-cycle budget – help for students, for young home buyers, for Gen Xers thinking about buying electric cars and for ...
Penetration of financial products improving  LivemintGrowth rate in India is high, salaries are going up, and more and more millennials are willing to invest in MFs.Rahul Jain of Edelweiss, talks about the need of ...
John Ninfo: Personal finance advice for Canadians, and us, too  MPNnow.comMy wife and I went to Mexico on vacation over the February break. Yes, we saved for it, so we won't have any unpaid credit card bills that will mean we will pay ...
Taking Charge Of Your Personal Finances  WNPR NewsDo you have credit card debt hanging over your head? Or maybe you've been thinking you should start saving for retirement, but you aren't sure how to pay.
Personal finance expert Jean Chatzky warns women: 'We are sabotaging our financial security'  Yahoo FinanceOn the eve of International Women's Day, personal finance journalist Jean Chatzky says she worries about a paradox at the heart of women's investing habits: ...
East China Student wins $20k from personal finance competition  Port Huron Times HeraldStudents had to select phone plans, pay bills, make budgets and more.
The best financial apps to help UAE residents manage their money  The NationalFrom banking to budgeting tools and tricks to split the bills with your friends, download these applications today.
Should a cat be your next investment adviser?  Dallas NewsI've been using a powerful investment app for financial planners called The Big Picture. It's a great tool for exploring the biggest concerns most...
Delayed gratification is the key financial lesson  Motley Fool AustraliaI think that delayed gratification is the key financial lesson in both investing and personal finance. Delayed gratification means waiting longer before receiving ...
Here's How Much Financial Advisors Earn In Every U.S. State  ForbesThe retirement of baby boomers is proving a boon for many different parts of the U.S. economy, from small businesses to big corporations, from individual ...
INFOGRAPHIC: How saving effectively can literally buy you time  Independent OnlineAndre Wentzel, Solutions Manager at Sanlam Personal Finance, gives practical examples of how saving effectively can literally buy you time.
Money Smart Week offers personal-finance workshops | Local Business  Bloomington PantagraphBLOOMINGTON — Money Smart Week will provide a variety of events March 30 to April 6 to help consumers manage their financial lives.
Fast-growing personal finance website The Penny Hoarder slashes jobs in downtown St. Pete  Tampa Bay Business JournalThe Penny Hoarder, a fast-growing personal finance website headquartered in downtown St. Petersburg, has cut jobs in the face of declining revenue.
PERSONAL FINANCE: How to evaluate your business idea  Daily NationYour business idea must be based on what customers are saying.
Personal Finance Show: Get the best from your Isa and think small to boost growth  Investors ChronicleThe team discuss how to get the most from your Isa, thinking small to boost growth and electrifying gains.
Forever young: Millennial lifestyle changing personal finance habits  Hays Free PressAs Millennial's personal finance habits shift consumer living and buying trends, experts and young adults alike are embracing these changes. However...
Cities where Americans have the most cash left over after paying their mortgages  Fox BusinessHousing ranked among the top expenses for Americans across every demographic.
Have Your Toast and Get Rich Too: A Realistic Guide to Personal Finance  Willamette WeekIt's not a conversation anyone likes to have, especially in Portland. It's bad enough to live in a city where the cost of living keeps rising while wages stagnate and ...
BNP Paribas Personal Finance partners with DealTrak to continue expansion of UK auto finance services  Asset Finance InternationalBNP Paribas Personal Finance has agreed a new partnership with finance software platform DealTrak. The platform has access to 1,100 UK dealerships and is ...
WATCH: What the budget means for personal finance  Business DayOld Mutual's head of financial education, John Manyike, talks to Business Day TV about the 2019/2020 budget.
Westpac quitting personal financial advice, 900 jobs could go  NEWS.com.auWestpac is selling its personal financial advice business as Australia's second-biggest bank exits the scandal-hit sector.
Personal Finance Show: The best access to property and what to do with Woodford  Investors ChronicleDavid Liddell, chief executive of online investment *service* IpsoFacto Investor, weighs up the merits of UK commercial property and the best ways to access it.
Special Counsel’s Michael Cohen Probe Dates to 2017, New Documents Show  The Wall Street JournalDocuments show that agents working for special counsel Robert Mueller began investigating Michael Cohen in the middle of 2017, only two months after Mr.
Money and the millennial woman  LivemintAhead of International Women's Day on March 8, we talk to five millennial women who have tasted success in their respective careers early on about how they ...
Life insurance fraud - Insurers forced to be more vigilant  Independent OnlineLife insurance fraud is on the rise, and insurance companies are being forced to be even more vigilant.
How income from stocks and mutual funds are taxed for an individual  Moneycontrol.comCapital gains from transfer of unlisted share are considered as STCG where period of holding is less than or equal to 24 months, and LTCG when holding period ...
Old Mutual mulls changes to personal finance business after profit decline  Business DayOld Mutual's share price fell to its lowest level in six months as the group missed its full-year operational targets in its first set of results as a standalone entity ...
Menomonee Falls High School recognized for personal finance program  WTMJ-TVNext Gen Personal Finance has named 887 Gold Standard Schools for their personal finance efforts. Menomonee Falls is one of them.
Robin's fixing bad money habits, and wants us all to learn a lesson in personal finance  ABC NewsWhen Robin Dougherty was diagnosed with cancer at 73 and no longer able to work, a lifetime of bad money habits meant she didn't have a safety net to fall ...
Personal Finance: Two lessons learned on one day.  Grocott's Mail OnlineA few months ago, a client whom we had not seen before made an appointment to meet at our office to discuss his financial planning needs. He mentioned that ...
Personal Finance Show: Going for gold and targeting the world's best dividends  Investors ChronicleIn this week's show Shaniel Ramjee, multi-asset manager at Pictet Asset Management, considers how good gold is as a defensive asset and whether it is worth ...
How to manage the disadvantages of trusts  Independent OnlineALL ABOUT TRUSTS: Even though trusts are great vehicles to use in estate planning, they have disadvantages, writes Phia van der Spuy.
OPINION: Tax residency and financial emigration: Not everyone is an expert!  Independent OnlineThe process of “Financial Emigration” terminates your tax residency status with the South African Revenue *Service* (“SARS”) as well as your status as exchange ...
Overcoming debt and finding financial freedom in 2019  Independent OnlineThe latest Momentum/Unisa Consumer Financial Vulnerability Index shows a worsening trend across all indicators of financial vulnerability.
Personal Finance: Canadian Millennials show significant interest in using 'robo-advisors' in the future  Angus Reid InstituteMarch 1, 2019 – Canadians may not be saving as much as economists would like, but those who invest are doing so in a changing landscape. A new study from ...
Is Afterpay the key to unlocking your personal finance potential?  Motley Fool AustraliaWithin the rise of "buy now, pay later" (BNPL) services in Australia, there is one provider that has seen a meteoric rise to fame like no other: Afterpay.
PF funds' investment in IL&FS bonds have no government guarantee: Finance Ministry  LivemintThousands of crores of money of more than 15 lakh employees of both public and private sector companies have exposure to IL&FS bonds.Over 50 funds that ...

Saving Money On Gasoline For Your Automobile

The gas that we fill our tanks with every week... Read More

Can You Afford Not To Look After Your Personal Finances?

Investing is a subject a lot of people don't want... Read More

When do You Need a Financial Management Company on Your Side?

We live in a crazy world. Someone ought to sell... Read More

Are You Sick of the Financial Insecurity of Fluctuating Seasons and Income?

Finding a stable and secure income that will come year... Read More

Personal Finance - Have Consumers Had a Belly Full of Personal Debt?

For months, we were trigger-swipe happy, putting our groceries, clothes,... Read More

Budgeting Before Buying

With interest rates being at an all-time low, I can... Read More

Money Saving Tips. Maximize Savings on Everyday Items!

Frugal living is more than a lifestyle. It's a passion.... Read More

Save Your Money, Dont Give to Charity Scammers

**If it's Spam, it's a Scam!- If it sounds too... Read More

Identity Theft ? More Tips on How it Can Be Avoided

Recent security breaches at several credit card companies continue to... Read More

Benefits of Personal Finance Software

In this age of information, keeping track of your finances... Read More

One Income Source Is Not Enough!

My personal opinion is that in today's new economy, it... Read More

Roth IRA Contributions - IRS Rules

Confused about whether you can contribute to a Roth IRA?... Read More

10 Tips to Make Sure Your Financial Budget Will Succeed

You've analyzed your past expenses, put them into spreadsheets, loaded... Read More

Budgeting the Key to being Financially Stable

Single Mother's in need of Financial GuidanceBudgeting is key to... Read More

Do You Know What Tomorrow Will Bring?

I've been sharing the following idea with people for a... Read More

Learning the Basics of Handling Money

With prices increasing all the time, saving money can be... Read More

Dramatically Improve Your Stock Trading Success

Get Access to Realistic profitable strategies & discover the mindset... Read More

UK Parents Inactivity Harming Their Children?s Future University and Mortgage Savings

The British government at the beginning of this year officially... Read More

Ways to Save Energy and Slash Electricity Bills

1. Lighting & Light Bulbs Install low energy light... Read More

Single Mother and Learning how to Save

Saving may seem easier if you were saving for a... Read More

Tips To Save Money At The Supermarket

Are you interested in saving money off your grocery bills?... Read More

Want Your Savings to Earn a Higher Rate of Return? Try Internet Banking

Doesn't it seem like the only impressive numbers we've seen... Read More

Saving Dimes Can Go a Long Way

On the other hand, there are those people who are... Read More

Know Thy Finances

The first step to financial success lies in knowing your... Read More

10 Tips To Save Money When Dining Out

Here are some tips that can help you save money... Read More