No direct link to offer, showing for some when logged into their Bank of America accounts. Pulling data again and again from the ChexSystems database can further worsen your situation, as every time the data is pulled it shows up as an inquiry into your account. In some cases, the bank that you pick may use ChexSystems. 2001: Bank of America Has 3 Million Online Customers. The term “for cause” can encompass any number of things, including: This is by no means an exhaustive list, and ChexSystems may include your closed account for another reason other than what is listed here. After opening the account, you can return the “freeze” to your ChexSystems account once more. The information stays on file for five years from the date the account was closed. This information can go a long way to help you clear up any potential issues with your checking and savings accounts. Be sure to check the terms and the fees of any debit card before you apply. If problems are found, your account will be closed, and your initial deposit will be given back to you. This is even if your chexsystems is currently clean. See also: 18 Banks That Don’t Use ChexSystems. 4. *IMPORTANT* Some banks will allow you to have a backup payment system for your checking account. Telecheck is currently used by over 374,000 merchant locations. It is very difficult to survive without being able to use typical banking services that many people take for granted. You can request your free report at the official ChexSystems website. There are a couple of steps that you can take to get out of ChexSystems. ChexSystems keeps track of bank accounts that have been closed for particular issues. The faster you can fix the negative marks on your report, the sooner you will be able to open a new account. Here is a list of popular banks and credit unions that DO use ChexSystems. When you want to open a bank account, you can temporarily “unfreeze” or “thaw” your account from ChexSystems. Multiple bounced checks in a short amount of time. One of the best ways to keep your checking and savings account in good standing is to always make sure that both accounts are well funded. These options can allow you to save cash and accept direct deposits onto an account. That choice depends solely on the financial institutions that you decide to work with, but not all banks use ChexSystems. These systems are comparable to the credit bureaus that track your credit history. Your best option, if you’ve had an account closed due to non-sufficient funds in the past, is to be aware of the issue. You can request your ChexSystems report for free (once per year) by visiting the ChexSystems website. However, that does not mean that you will be unable to bank anywhere. If none of the above strategies work, then you can wait until the information drops off from your ChexSystems report. $35. Here are some banks that offer second chance accounts: Customers who open a Second Chance Account can earn other banking benefits with time. Want to make sure that your background looks its best before you attempt to open an account at a bank that uses ChexSystems? There are several ways you might get reported on ChexSystems, including the following common actions: Information from ChexSystems does not directly go on your credit report. A ChexSystems report, which banks use to evaluate potential customers, might identify non-sufficient funds mistakes you made — and neglected to pay for — on more than one account, which could prevent you from being approved for a new account at another bank … If you need to, remove your credit card from shopping sites to lower your chances of impulse spending. A second chance account is an account that doesn’t use the ChexSystems. How to Read & Understand Your Credit Report, Statue of Limitations on Debt - State By State, Everything You Need to Know About Filing for Bankruptcy, How To Rebuild Your Credit After Bankruptcy, Guaranteed Installment Loans for Bad Credit. If you’re ready to put your past beyond you, check out these “Non-ChexSystems Banks”. Creating a budget allows you to evaluate your income and manage your spending. As stated before, the information will be dropped from your report exactly five years from the day that the information is reported.