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Ok im going to try to make this simple and quick.
I went into a local credit union to apply for an account just to have one since I hear they offer better loan rates and what not, anyhow I was told I couldnt open an account due to items reported to chexsystems. I looked at the report and it said I owed BofA $90 and Wells Fargo $101 (both were my old accounts). I was a bit puzzled as I am very aware of how chexsystems works and what they do (prior work with banks).
The reason why this puzzled me is the following:
1. I currently have a BofA checking account since 2010 or so and a Credit Card account since 2013 which If i would have owed them money and in chexsystems for any amounts owed, I would have never been able to open any accounts with BofA period. Second, I went into the Bofa and showed them the letter and asked what this was about and the rep went into the system and said there was NO record of me being sent to chexsytems or owing BofA money and he reiterated that I would not have been able to open any account if so. I left scratching my head and a big ? on top of my head.
2. I had a wells fargo account years ago which was closed in good standing, so I went into the Wells branch and showed them the letter and asked what they had to say about the letter. The rep went into the system and went through various channels to confirm if there was any outstanding balances and came back saying there was NONE and they had no record of them sending me to chexsystems for any reason, the rep even comfirmed that I was clear to open any type of bank account with them at that moment if I desired to do so (which if I would have been in chexsystems, would not be able to do so). That again left me with another big ? and a WTH is going on here over my head.
3. I go back to the Credit Union and relay to them the info of my current status with BofA/Wells and what they and wells fargo had mentioned and it left them puzzled as well and went on to simply suggest that I contact Chexsystems directly and find out what was going on, I havent done so til this day as opening an account with a CU isnt a priority right now but I am puzzled by this.
Anyone else had this same issue or similar?? I would like to hear from anyone who might have a "unofficial" logical explination for these type of "glitches" as its the best way I can describe it As I am now tempted to tacklet this issue and fix it once and for all.
Thanks
Just like your credit reports, there can be errors on your Chexsystem report. Since you've checked with the banks and they couldn't find any record of the bad accounts with your information, I think it's likely these were caused by typos or a hiccup in the Chexsystems database. The records probably actually belong to someone with a similar name or social security number.
You can request a free copy of your Chexsystems report, and they have a dispute process similar to the CRAs. I believe you can request the report through their website, but I don't know if they do online disputes.