While Chex Systems is a credit reporting agency much like Experian, Equifax, & TransUnion, many people have never heard of them until they are barred from opening a bank account or have their accounts closed out of the blue.
Unlike the other consumer reporting agencies that report positive information along with negative items, Chex Systems contains only negative information, therefore any record with Chex Systems may harm your ability to open or maintain a bank account for up to 5 years.
Fortunately, you can dispute and request verification from Chex Systems and the banks in the same way as other credit reporting agencies. If information cannot be verified, it must be removed from your Chex Systems file. You may order a free copy of your Chex Systems report yearly or at any time you are denied the ability to open a bank account.
The following letter is a template for you to use when disputing negative information on your Chex Systems file. Please note that this letter does not constitute legal advice, it is only provided as a starting point for your own Chex Systems dispute efforts.
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