Non CHEXSYSTEMS & TELECHECK Banks?

[Anonymous]

---

@Anonymous wrote:

I'm on chexsystems and telecheck and BoA allowed me to open an account online. Both entries just over 2 years old, actually chexsystems isn't even 2 years old, telecheck may not be quite 2 yet either.

---

May I ask what the heck Chexsystems is??? How do you find out if you're "on there?"

We've had a few checks go south of the border, but with one exception, our bank has always covered it for us.

The one time, I didn't get word that our check had bounced (long, long, story), we went to court, paid for the check (plus fees) and entered a "bad check program" (basically, a silly little class that teaches you how to balance your checkbook) and that was that (the courts don't even have a record of us anymore -- after successful completion of the class and one year, it's "wiped clean").

I wonder if we're on there ... not a peep about it on our CRs ...

Forgot to add: Somehow, somewhere, along the way, we did have the same checking account used for the bad check charged off. Never even realized it (we use the account so very, very, very little) until I saw the CO on our CRs.

Message Edited by Wonderin on 06-20-2008 08:28 PM

[Anonymous]

Chexsystems verifies your checking activity and functions as a consumer credit reporting agency. Most banks and credit unions use it when opening a new deposit account. Because Chexsystems is a CRA, it is your right to dispute with chexsystems.

Just as you can ask for one free credit report every year, you can also ask for a Free chexsystems report once a year. As a consumer, you can question any information in Chexsystems, and you can also dispute entries and the evidence that supports the reported activity.

To get a copy of your free report go to www.chexhelp.com

[Anonymous]

Bank of America still uses chexsystems and now also uses EWS but for more than a year now they have been approving almost everyone on chexsystems. A few people have had their accounts closed at a later time but for the most part, it is working out very well.

I always suggest that if you are using a bank that uses chexsystems to have a back up account. Never have all your money in one place.

[Anonymous]

---

@Anonymous wrote:

Chexsystems verifies your checking activity and functions as a consumer credit reporting agency. Most banks and credit unions use it when opening a new deposit account. Because Chexsystems is a CRA, it is your right to dispute with chexsystems.

Just as you can ask for one free credit report every year, you can also ask for a Free chexsystems report once a year. As a consumer, you can question any information in Chexsystems, and you can also dispute entries and the evidence that supports the reported activity.

To get a copy of your free report go to www.chexhelp.com

---

Okay ... does it get ALL the info? Even the times that we had overdrafts yet paid them immediately?? Or is it only when the vendor has to sue or seek some sort of remedy to get their money??

[Anonymous]

---

Wonderin wrote:

Okay ... does it get ALL the info? Even the times that we had overdrafts yet paid them immediately?? Or is it only when the vendor has to sue or seek some sort of remedy to get their money??

---

It gets what is reported by your bank. I don't know if business can report to chexsystems or not. I know they do Teletrack and Telecheck.

[Anonymous]

Chexsystems only reports the information given to them by the reporting bank(s) Scan reports the information that retail places report to them. For a free report from Scan you can go to the following.

https://www.consumerdebit.com/consumerinfo/us/en/scan/index.htm

Remember it is your right to dispute with chexsystems the same as any CRA.

Here is the way the process works:


Step1. INITIAL DISPUTE LETTER

Chexsystems has 30 days from the date they sign for the letter to
respond.

NOTE: If you got your report by requesting a free annual report, then
the law extends the dispute notification period to 45 days.
After getting your letter they must:

1) Confirm that they contacted someone to verify the information.
-The disputed information then stays in your report.

2) Confirm that they could not verify the information.
-The information is deleted from your report.
-You receive an updated report (minus the disputed info).

Step2. NO RESPONSE TO DISPUTE LETTER
-You Send a Demand for Removal letter because they did not respond.
-No response means they did not confirm. Therefore, the information
must be removed.

**3. DISPUTED INFORMATION NOT DELETED
-You send a Procedural Request letter. If they say they confirmed the
information, the law gives you the right to then verify how they
confirmed. They must send the Address, and Telephone Number of the
individual or business they contacted within 15 days, so that you can
confirm it.

**4. LEGAL ACTION
-Before pursuing legal action, you have to build a "case". You should
be able to prove there was an error, you notified them, - but they did
not correct it. You want to also show their failure to remedy the
situation has harmed you financially (unable to open an account,
etc.).

-If you applied for an account and were declined based on the
information, that provides additional documentation. Fines, etc. are
outlined in the Fair Credit Reporting Act. Most state law conforms to
the FCRA, but there may be a state law where you live that outlines
specific remedies.

State Laws: http://www.privacyrights.org/fs/fs27plus.htm

FCRA: http://www.ftc.gov/os/statutes/fcra.htm

THE REPORTING BANK

1. Has the bank made a reporting error? The law requires banks to
report information that is 100% accurate.
-If so, you send a Demand for Removal letter to a bank manager or
executive, notifying them of their FCRA violation.
-Examples: Incorrect name, SSN, address, dollar amounts, date of last
activity, date account first became negative.

**NOTE: Chexsystems allows the vague "NSF" and "ABUSE" flags because they are harder to dispute and remove. There are no clear standards for what is considered NSF or ABUSE. They can mean anything a bank wants them to.

What proof do they have to flag an account NSF or ABUSE?

2. Do the facts support filing a complaint with the agency in your
state that regulates and handles banking? You can get the agency
information by calling the clerk in your state attorney general's
office. Will the complaint hold, or is there any statement in the
account agreement you signed when you opened the account that will
protect the bank?

As far as getting removed....I would suggest you read the info below
and see if it can be a help to you.

Chexsystems removal help
This is the information needed before recommending a Chexsystems
dispute:

1) What does your Chexsystems report say . . . does it indicate a specific
dollar amount is owed, or does it list NSF Activity, Account Abuse,
etc. ** The objective is to catch them reporting incorrect information
or an inaccurate amount.
If the report says NSF Activity or Abuse, was there a negative balance
on the account? Has it been paid?

2) When was the entry added to your Chexsystems report? If the account became negative - when was the first month it was negative? What month was it closed and when did the bank report it to Chexsystems? **This helps determine when the five year clock should start ticking - and when the account should have been reported by the bank.


Again, you are looking for any type of inaccuracy you can hold them
accountable for. The FCRA specifies that only accurate information can
be reported, and it provides a time requirement for reporting negative
information. Banks cannot wait and report negative accounts when they
want to.

3) Did you receive a collection notice from Chexsystems?
**THIS IS VERY IMPORTANT! If you receive a collection notice, then it is a different ballgame. Chexsystems then must adhere to the Fair Debt Collection Practices Act. The FDCPA says they MUST validate -- provide a full account history of all statements, signature forms, etc.

4) Were you the primary account holder? **If not, did you ever sign a
signature form or use the account? Yes Chexsystems is subject to the
same rules/regulations as set forth by the FCRA. You should first
"dispute" the item with Chexsystems and if it comes back "verified"
within the 30 day time frame, you should request "validation" of the
debt. BE SPECIFIC if you request validation.

Ask for original copies of your signature, etc. If you don’t , they
will send you some bogus documents and call it validated and then call
it a day. Most people on here have dug their own grave with the
reporting bank, and are hoping the bank does not verify the chexsystems item within the allotted time frame. This can and does happen. Especially if
you are dealing with a BIG bank (BofA, Wells Fargo).

There are several methods you can use for deletion. Some go for the method that essentially catches Chexsystems in a FCRA violation.
Oftentimes they use the "violation" as leverage for deletion.

Another avenue to go if you can’t get your item removed. Being listed
in Chexsystems SEVERELY (if not completely) restricts your banking
abilities. They can be held liable for multiple FCRA violations if the
information they have on you is not correct..the inforamtion must be 100% correct.

[Anonymous]

I tried to post a list of non-chex banks and credit unions here. i guess it was removed. Is that not allowed? The question was asking for a list.

Sorry do not want to cause problems

edit: whoops, I thought that I hit the reply button, not the edit! see next post --hauling

Message Edited by haulingthescoreup on 06-21-2008 06:28 AM

[haulingthescoreup]

---

@Anonymous wrote:

I tried to post a list of non-chex banks and credit unions here. i guess it was removed. Is that not allowed? The question was asking for a list.

Sorry do not want to cause problems

---

I apologize, I tried to pm you when I removed it, but your pm's weren't turned on. It was the link that was the problem, with the donations option. This made it fall into the commercial category.

Please see the guidelines for participation here, especially the credit repair discussion guidelines:

Credit Repair Discussion Guidelines

User Guidelines

Terms of Service

[Anonymous]

Please do not apologize. My fault not yours, I am sorry. I should have read more so. I was only trying to help but had no idea..

If anyone here needs help finding a bank or credit union that does not use chexsystems, they can PM me here (I enabled Pm feature now) or they can just email me as well. I also help people with chexsystems disputes. I have been doing this for more than 6 years now.

Thanks

[fishbjc]

Charter one will open as long as you have a letter from the bank that you paid the checks.  Not a problem.