Get Out of ChexSystems!
Most people tend to take checking accounts for granted, and have never heard of ChexSystems. But once you fall onto the wrong side of this organization, you'll find life starting to get much more difficult. You won't be able to open a checking account. You'll have to pay outrageous fees to check cashing stores to cash your paychecks. And you'll have to waste time paying bills in person or by sending money orders.
As you probably know by now, ChexSystems keeps a database of people who have, for one reason or another, gotten on a bank's "naughty list." Maybe you've had a few overdrafts, and fallen behind because of the subsequent flood of bank fees that in turn caused more overdrafts. Maybe you deposited a check that later turned out to be bad. For whatever reason, you're on the ChexSystems list, and now you can't open a bank account. You're not alone.
In fact, there are a surprising number of people who are in the same boat. Almost all banks in America are ChexSystems banks. There are a few banks that don't use ChexSystems, but unfortunately, there are fewer every day. Most of the non-ChexSystems banks are online; your local banks are a lot more likely to be a part of this system.
There is a way out. Your strategy involves three steps:
First, you need to obtain an account at one of a handful of second chance banks that exist. You may not get paper check-writing privileges, but you will have a debit card you can use anywhere, online bill paying, and a way to deposit your paychecks without having to pay those fees to the check cashing store. Paper check writing is fast becoming a thing of the past, anyway, and in fact has been decreasing every year. Do you really need it? Sure, paper checks are a convenience, and it's good to have. But first things first, you'll get there.
Once you have a "second chance bank account" (and they're fairly easy to get), you can get back into the good graces of your "friendly" neighborhood bank.
You can also appeal directly to ChexSystems to appeal your case. It's not easy to get off the ChexSystems list, but it has been done.
Help is on the way. The first thing to know is that there are some places on the Internet that will claim to offer you a list of non-ChexSystems banks, most of the time, for a fee. More often than not, these lists are out of date (more banks are joining every day) and you will only waste your money. There are also a variety of books and courses available (also for a fee), which offer only basic information.
What we've put together is a comprehensive e-book that gives you all the details you need to know. In this e-book, you'll learn where those second chance banks are and how to apply, how to appeal to your bank, and how to get off of the ChexSystems list. And what's even more amazing, is that we're offering it for free. That's right, we're not selling it! And to make it even better, we're not even collecting user data to sell to marketers! We're doing this to build up traffic and create a network of informational web sites. Our team of financial analysts and industry observers will be creating more e-books in the future to offer insight and advice on a variety of personal finance issues, and yes, in the future we may start charging a few bucks for them-but for now, it's absolutely free, no risk whatsoever, no credit card information taken, not even an email address. Just download it and it's yours.
Good luck, and remember, you deserve to have a bank account, and you can get out of ChexSystems!