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:

How strategic personal finance management can help pick the most suitable investments for you  Economic TimesBeing in charge of our wealth is to stay focused on what we want our money to do for us and driving decisions in that direction in a disciplined manner.
10 most-read 'personal finance' articles of 2018  702Making ends meet, investments, property, debt, financial freedom… these were the very best "your money" articles of the year.
5 things you need to stop getting wrong about personal finance  Pulse NigeriaDo you have issues with money management? Check if have any of these five wrong beliefs about money.
A strong woman for MMI is Jeanette Marais  Independent OnlineIt's come full circle for Jeanette Marais, MMI's deputy CEO, who's headed back to where it all started for her.
Check out Alexander Forbes' new blended annuity  Independent OnlineAlexander Forbes and Just have launched a blended annuity, which aims to deliver the advantages of both a living annuity and a guaranteed annuity.
Why crowdfunding is here to stay  Independent OnlineWe explore the opportunities, challenges, successes and occasional failures of the phenomenon called crowdfunding.
Weekend catchup — this week’s personal finance headlines  Financial TimesPublic spending has increased in the south of England since the financial crisis but has fallen in the more deprived north, write Andy Bounds and Chris Tighe.
Personal finance app Finch launches new spend tracking features  finder.com.auUsers can see how much they're spending on guilty pleasures like Uber Eats, and how they compare to others using the app.
OPINION: The year is ending on a sour note  Independent OnlineHopes of a pre-Christmas rally on global equity markets were dashed last week. The optimism around a thawing in US-China trade relations following the G20 ...
A guide to dividend-growth investing  Independent OnlineThere's more to this popular investment strategy than buying good-quality companies and sitting back while dividend income flows in.
The 16 Best Personal Finance Books to Read in 2019  ValuePenguinGet rich (or richer), save for retirement or climb out of debt with this year's must-read personal finance books.
Trump wants to use Huawei case as leverage  The Times and DemocratPresident Donald Trump said his administration is open to using the arrest of Huawei chief financial officer Meng Wanzhou as a bargaining chip in ongoing trade ...
This week in personal finance: Money lessons you should teach your children; how to choose a mutual fund category  Moneycontrol.comFinancial literacy at a young age would include learning basics of things like income, expenses and savings, insurance and its purpose and now money works ...
6 Ways to Be Healthier at Work  Madison.comYou deserve optimal health. Here's how to get it at the office.
Late night skewers Pence's Oval Office silence  Helena Independent RecordLate-night hosts poked fun at Vice President Mike Pence over his appearance during President Trump's heated meeting with House Minority Leader Nancy ...
Personal finance wrap: Steps to create a viable long-term financial plan; How balanced is your mutual fund portfolio?  Moneycontrol.comThough financial planning may sound daunting to many people, it is not as difficult as it seems. The starting point is to know the steps one should take in creating ...
First steps towards a life of giving back  Independent OnlineHere is some good news to hold onto this holiday season: People are giving more than ever.
A financial plan must be a living document  Independent OnlineWhile it is not always possible to predict what the local and global economies will serve up in 2019, good financial planning will help.
Indians' individual wealth grew 14% in FY18 boosted by financial assets: Karvy  Moneycontrol.comThe higher income levels of millennials have led to increased household savings which is making their way to the financial assets through mutual fund route.
From Salon Marketplace: This app streamlines your personal finance management  SalonCoinKeeper Platinum helps you manage your finances, set budgets, and more with a few taps on your smartphone.
9 Best Budget Apps for Personal Finance in 2018  TheStreet.comTry these nine mobile budget apps to get your financial house in order....AAPL.
Creating harmony between spenders and savers  Independent OnlineYou're a spender. Your partner's a saver. If your “match made in heaven” had a critical stress node, this would be it. To add insult to injury, it's the holidays and ...
CNN Business Before the Bell  The SouthernCNN's Christine Romans has the day's top business headlines before the opening bell on Wall Street on Wednesday, December 12.
Personal finance 101 : Radio Times : Money  WHYYGuests: Helaine Olen, Kristin Wong. Do you have a budget, track your spending, carry too much debt, save for retirement? Many Americans don't do any of those ...
How to squeeze all the juice from a higher TFSA limit  The Globe and MailMost people are unable to get anywhere near the annual contribution limit for tax-free savings accounts, but there's still reason to celebrate the fact that the TFSA ...
Festive season financial hacks  IOLAdvice for South Africans who are gearing up for the 'silly season' spending frenzy.
The Four Horsemen Of The Personal Finance Apocalypse  ValueWalkThe Bible's Book of Revelations and our popular culture speak of the Four Horsemen of the Apocalypse: Pestilence, War, Famine and Death. Gratefully, for most ...
How Google got its start  Helena Independent RecordWhen Larry Page and Sergey Brin were working on their search engine out of a garage, they likely couldn't imagine the behemoth Google would become.
SEBI allows side-pocketing in mutual funds  Moneycontrol.comEnough steps will be taken and safeguards will be put in by SEBI to ensure that side-pocketing facility is not misused.
The high five of estate planning for the wealthy  Independent OnlineThe top 3 risks to long-term family wealth are family disputes or break-ups, lack of planning and the failure to engage the next generation.
ATU makes personal finance curriculum available to Arkansas high school  Harrison DailyNASHVILLE, Tenn. —Arkansas Tech University (ATU) is sponsoring Ramsey Solutions' Foundations in Personal Finance curriculum to high schools across ...
Don’t burn your money on these three stocks  Daily NationPlanning to trade shares next year? Here are the companies to avoid.
Best Personal Finance Apps  Techtree.comManagement of money, being around a budget and even managing decisions related to investments is so must easier than before in today's world of budget ...
Personal Finances Are a Top Source of Stress for Americans  TheStreet.comAmericans are more stressed out than ever before, surveys show. And despite the robust GDP and jobs numbers, personal finances still rank as a top source of ...
Saving for retirement is your top personal finance task  The Globe and MailWhat's your great personal finance-related task in life? My sense is that a lot of people would say it's getting their mortgage paid off as soon as possible.
Is a property crash coming? We answer the 20 most pressing personal finance questions  The GuardianShould I buy travel insurance from Ryanair? How much money do I need to retire? And do shops have to accept Scottish banknotes? The Guardian's money ...
KMyMoney: Personal Finance Manager software for Windows PC  TWCN Tech NewsKMyMoney is a free software for Windows which helps you track your finance without any accounting degree. What makes KMyMoney different is its user-friendly ...
Read next on IOL Match your investment needs to your lifecycle and build a financial future  Independent OnlineBuilding a financial plan for your future is easier if you think about the events that will shape your life and then plan ahead, says Standard Bank.
What you need to know about the global economy  Independent OnlineAs an investor, it pays to filter out the noise, which may lure you into making hasty decisions, while keeping an eye on the investment horizon.
Personal Finance Show: FTSE 100 vs Brexit and selling US stocks  Investors ChronicleIn this week's Personal Finance Show podcast, the team are joined by Peter Elston, chief investment officer at Seneca Investment Management, and Dave ...
This is how much credit-card debt makes you undatable, and do Americans marry for love or money?  MarketWatchHappy Monday, MarketWatchers! Start off your week with today's top personal finance stories. How to buy gift cards for friends and family that won't go to waste.
Millennials are at risk of having to work into their 60s and 70s  CNBCLow retirement savings rates mean millennials could have to work much longer.
Don't give in to cash  Independent OnlineOver the past 3 years cash has delivered decent returns compared with equities and bonds. But don't be fooled, writes Catherine Robberts.
PERSONAL FINANCE: The three money mindsets  Daily NationMoney is made or lost in the mind. What goes on in our minds will reflect our actions. Those actions, done on a continuous basis, become our reality. There are ...
Africa's pension challenge  Independent OnlineAfric's youthful population and growing middle class are generally considered positive investment themes for the continent, but will African pension systems be ...
2018/19 Personal Finance Awards – Winners Announced!  The Money PagesThe votes have been counted and the results are in! Here are your winners for The Money Pages' 21st annual Personal Finance Awards, celebrating the best ...
The Winning Personal Finance Habits of LeBron James, Basketball Great and Actual Friend of Warren Buffett  Inc.You can learn a lot from LeBron James--and not just basketball moves. These 3 key personal finance strategies have made him a top financial guru.
PERSONAL FINANCE: Sharing financial wisdom with your kids  The MercuryParents often try to impart their values about money to help their children establish a strong financial foundation. If you are a parent, talking to your kids about ...
How influencers make money online  Helena Independent RecordAmber Venz Box, co-founder and president of rewardStyle and LIKEtoKNOW.it, created a way for influencers to monetize their *content* online.
Retire with investments that put yield first  Independent OnlineFor most of our working lives, we invest to accumulate wealth, typically in retirement funds and in discretionary investments.
T-Mobile Getting Back into Personal Finance with Digital Checking Account  ECNmag.com11/29/2018 - 12:41pm. Comments · by Bevin Fletcher. AddThis Sharing Buttons. Share to Facebook Share to Twitter Share to Email App Share to Pinterest ...
taxes: think before you drink the water  Independent OnlineI recently had the privilege of attending a tax conference in the Dominican Republic, writes Christopher Renwick.
John Ninfo: Should personal finance classes be required in high school?  MPNnow.comI was recently at a conference that was attended mostly by high school business, finance and economics teachers. As you might expect, during a break, the ...
Kathie Lee Gifford is leaving 'Today' | Smart Change: Personal Finance | wcfcourier.com  Waterloo Cedar Falls CourierTelevision icon Kathie Lee Gifford will bid farewell to NBC's "Today" show next April.
Maximising your year-end bonus  IOLThe 'silly season' is characterised by spending: spending quality time with loved ones, and spending more money than usual, in the process.
The role psychology plays in personal finance  CNBCTV18Every person who is investing, tends to think that they are rational investors. They say that they carefully evaluate options, weigh the pros and cons and then take ...
Great tips for retirees  Independent OnlineFund management company Marriott, which also specialises in income-producing investments, has two suggestions for retired investors.
Illegal Tax Moves to Avoid  U.S News & World Report MoneyIt may seem like a harmless fib, but lying on your taxes can result in fees, interest and penalties.
Avoid these 7 mistakes while dealing with your financial advisor  Moneycontrol.comGood advisors are better used for creating financial plans and may not be the right fit of you if you only want to use them for picking stocks.
Some Canadian universities are offering practical personal finance courses  Macleans.caU of T's new class has seen enrolment triple in the year since its inception.
Finding a way to '$hare’ financial advice and speak to millennials  Philly.comhares wants to teach millennials to budget, stack coins and the art of debt management. And it all started with childhood lessons from Anthony Copeman's ...
4 Ways to Improve Personal Finance - Internet  BizReportWhether it's to pay off bills, cover a major expense or something else, sometimes, you need money quickly.
7 Myths About Caregiving Costs  U.S. News & World ReportCaring for a loved one has financial, social and emotional costs.
Rogers sells personal finance site MoneySense to Ratehub  BNNBloomberg.caTORONTO -- The MoneySense personal finance website has been sold by Rogers Media to Ratehub Inc., for an undisclosed amount. Ratehub is a ...
Travel insurance, investing and bargain hunting: In Personal Finance this week  News24In personal finance this week: Five reasons to read the small print on travel insurance: The summer holidays are upon us, and for those lucky enough to travel, ...
SUNY Oneonta hosts simulation on personal finance | Local News  Oneonta Daily StarStudents at SUNY Oneonta got to take a spin at life after graduation in a financial literacy program held at the college Wednesday.
Johnnie St. Vrain: Kids today learn plenty about personal finance  Longmont Times-CallDear Johnnie St. Vrain: Financial education is important. What do St. Vrain schools teach students about how to make, use and keep money?
Peter Bethlenfalvy: Personal finance lessons should apply to public spending  Ottawa CitizenLast month, I said that fixing Ontario's balance sheet is what keeps me up at night. After 15 years of Liberal mismanagement, our government is working hard to ...
Personal Finance Show: Yield curves, equities and picking small caps  Investors ChronicleIn this week's Personal Finance Show, the team discuss how politics and central banks dominated the news agenda this week, and how bizarre comments from ...
What if today’s economy is as good as it gets for your personal finances?  The Globe and MailIt's not too soon to start preparing for the next economic downturn. Shrink your debts, build savings and avoid new entanglements that will place additional strain ...
Personal Finance column: Three ways to tune in a better financial frequency  Glenwood Springs Post IndependentAs I got out of my car, the ringing of the Salvation Army bell evoked a warm smile, and I open my purse. On my way to the office,
5 financial tasks to do before December 2018 ends  Economic TimesHere are five tasks you shouldn't miss before the end of December 2018 for a hassle-free new year.
How to comply with the new National Minimum Wage  Independent OnlineThe National Minimum Wage will become effective on January 1, 2019. This means that you need to standardise the amount you pay your workers.
'Unfair' Sars penalty regime under fire  Independent OnlineThe South African Institute of Tax Professionals has submitted several proposals to ensure fairness in the treatment of taxpayers by the taxman.
Personal Finance Software Market : Regional, Analysis with Production, Consumption, Revenue, Applications and Growth Rate 2021  DigiTribuneThis Personal Finance Software Market reports offers a specific market study and outlook prospects of the market. The analysis covers major data that helps to ...
Stay ahead of your money  Daily NationPlanning your money is not a choice. However, many of us – and especially those in employment – don't take the time to plan their finances. You earn, you ...
International Men`s Day 2018: Become crorepati! These personal finance `brahmashtras` will never let you go...  Zee BusinessInternational Men's Day 2018: All men want to become reasonably rich, or reach a state of financial wellbeing where they won't have to fear hardships of poverty.
Free Personal Finance Apps You Can Take to the Bank  LinuxInsider.comToday's Linux platform accommodates a number of really good financial applications that are more than capable of handling both personal and small-business ...
What the World’s Most Enraging Personal Finance Diary Tells Us About Capitalism  SlateEarlier this month, the in-house magazine at Wealthsimple, a Canadian online investment manager, published an article titled “Debt: A Love Story.” It featured an ...
The Motley Fool's New Personal Finance Website  Motley FoolHere's why you should check out The Ascent for your personal finance needs.
Canadians should start thinking outside the box to boost their investment returns  Financial PostI was recently in New York with my son, and we visited Ellis Island. This terrific museum tells the immigration story of the 12 million people who came to the ...
Personal finance tips for millennials seeking entrepreneurship  The PunchOzioma Ubabukoh Entrepreneurship comes with its own set of wins and challenges. What transforms these challenges into wins is how we tackle them....
Phishing Attacks: Don't take the bait  IOLPhishing attacks thrive during the holiday season. Here's how you can stay safe.
GeekDad Daily Deal: The Complete Personal Finance Course  GeekDadLearn how to manage your finances better with today's Daily Deal, the Complete Personal Finance Course. Get access to 104 lectures and over twelve hours of ...
Cryptocurrencies, Square Earnings, and The Motley Fool’s New Personal-Finance Brand  The Motley FoolHere's an interview with our resident cryptocurrency expert, as well as the latest from around the financial sector.
Interview: Can Suryoday Small Finance Bank sustain its 9% FD rate?  Moneycontrol.comR Baskar Babu, MD & CEO of Suryoday Small Finance Bank (SSFB), talks about the bank's nearly two-year journey, challenges and opportunities for small ...
Property prices continue to rise - but rate of increase slows  Independent.ieThere has been a further slight slowdown in the rate of property price inflation.
Personal Finance Show: The best growth in India and turning away from banks  Investors ChronicleIn this week's show David Cornell, manager of India Capital Growth Fund (IGC), says where he is finding the best growth opportunities in the Indian market.
Ratehub acquires personal finance site MoneySense  VerdictCanadian online financial products comparison site Ratehub has acquired personal finance site MoneySense from Rogers Media.
What to Do With Your Money in 2019 According to Financial Advisors  LifehackerMoney mistakes are a dime a dozen. Except, you know, they end up costing us a bit more than that.
The Funded: Personal finance chatbot funded, A10 Networks explores sale  Silicon Valley Business JournalA small funding, a potential M&A deal, and a new job at Andreessen Horowitz for Mike Lempres, the former mayor of Atherton, tops Bay Area startup and venture ...
Personal finance class hosts school-wide career fair  The Hillsdale Daily NewsWALDRON — The personal finance class at Waldron Area Schools hosted a school-wide career fair Thursday afternoon.The event sprawled the main area of ...
Save money: Financial tips to take into the New Year - but you must START NOW  ExpressTHE start of a new year is fast approaching, but hard-working Brits are being urged to act now to take control of their money in 2019.
Insurance products that every person should have in their financial portfolio  Moneycontrol.comTo minimise the risk of financial loss, your insurance cover should offer protection for not only your possessions, income but also, for the loved ones.
New Congress could help alleviate student debt, says personal finance CEO | TheHill  The HillPersonal finance CEO Zack Friedman says a Democratic-controlled House and Republican-controlled Senate could create the right environment for better ...
This is how much South Africans earn - Report  Independent OnlineThe review showed what South Africans are earning in more than 100 job categories in 10 very important sectors.
Steps to create a successful long-term financial plan  Moneycontrol.comTo identify the fund's suitability and the percentage allocation to each category and fund, it is really important to identify the risk profile and financial goals of the ...
Personal Finance Show: Investment trust IPOs and how to play the UK  Investors ChronicleIn this week's show Peter Walls, manager of Unicorn Mastertrust (GB0031218018), considers how conventional this year's equity investment trust launches are ...
Auckland council car park to skyrocket $40 a day  New Zealand HeraldAuckland commuters who use the Downtown car park are set to face a 67 per cent hike in daily parking costs next year. From January 21 the capped price for ...
Working on the seas: How does tax impact you  Independent OnlineForgetting the sun, sea and foreign lands you're likely to encounter while navigating the globe, there is the tax benefit afforded to such seafarers.

Know Thy Finances

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

How You Feel Affects How You Shop & How Much You Spend

Have you ever stopped to think about how your "mood"... Read More

Live Green; Save Green!

Have you seen the recent article on a new "green"... Read More

Should You Borrow From Your 401(k) Account?

If you have a 401(k) account, it can be very... Read More

Simple Ways to Save Money

Things are so expensive these days. We seem to be... Read More

If All Things Are Possible, Why Cant I Balance My Checkbook?

For me, the most terrible time of each month is... Read More

How Electronic Checks Work ? Will Paper Checks Eventually Go Away?

Traditional checks probably won't disappear anytime soon, but processing checks... Read More

Personal Finance ? Why You Should Compare, not Despair

Sorting out your personal finances can be a tricky and... Read More

The Magic Of Compound Interest

Christians are called to be good stewards of God's resources.... Read More

Money Matters: Strengthen Your Marriage by Putting Finances in Order

Did you know that 43% of all married couples argue... Read More

Debt Management ? More Ways to Save on Gas Consumption

The price of gas continues to climb, and with continued... Read More

What Happens if You Die Without Making a Will

If you die without making a Will in the UK,... Read More

Save Money on Gas

Gas prices have soared to unimaginable heights of late. Since... Read More

Money Saving Tips. Maximize Savings on Everyday Items!

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

Financial Fitness - Are You Exercising the Right Muscles to become Financially Fit?

Are your financial muscles well toned and healthy or flabby... Read More

Affording a Home

Can you really afford a house? If so, how much... Read More

More Money? My Cup Runneth Over...But Im Still Thirsty

Most of us, especially those of us who have debtor's... Read More

Do You Know What Tomorrow Will Bring?

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

Identity Theft ? More Tips on How it Can Be Avoided

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

Planning Your Financial Future

Millions of people give a lot of thought to financial... Read More

Roth IRA Contributions - IRS Rules

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

First Checking Account ? When is it Time?

We all know that money doesn't grow on trees, but... Read More

Budgeting Made Easy

Well, dang! From what I've heard and read, it looks... Read More

How to Obtain a Non ChexSystems Bank Account Without Being Scammed

Predatory lending exists in the mortgage industry. It's typically when... Read More

How Check 21 Affects You

The Check 21 Law is the new federal law for... Read More