For anyone looking to open a new checking or savings account, you may or may not be accepted due to your history with prior bank accounts. ChexSystems is a Consumer Reporting Agency (CRA), and their purpose is to record any information and provide it to financial institutions such as credit unions and banks, so that they can accurately assess whether or not they are taking a risk if they choose the accept your application for a new account. If you want to learn more about which financial institutions they reside over, you can check our complete list of ChexSystems Inquiry Sensitive. Along with other CRAs such as TransUnion, Experian, and Equifax, they keep track of items such as whether or not you have unsatisfactory balances, overdraft your accounts, commit any fraudulent acts, or are involved in any other sort of suspicious activity. This is important because a mistake can prevent you from opening a new account, and impede you from taking control of your financial goals. Keep reading to learn more ways about How to Order Your Free ChexSystems Report.
Ways to Order your Free ChexSystems Report
ChexSystems offers a variety of ways for you to view your Consumer Report, free of charge. Under the Fair and Accurate Credit Transaction Act (FACTA) amendments to the Federal Fair Credit Reporting Act, you are entitled to a free copy, once every 12 months.
Whether you want to receive it online, phone, mail, or fax, they will send it to you via U.S Mail at not cost at all! This is crucial to taking control of your financial future, so make sure you are aware of your financial history. If you want to learn more about which accounts you should have, be sure to check out our review about Opening Bank Accounts.
Online
- To get started immediately online, simply complete the Consumer Request for Disclosure application
Phone
- Call 800.428.9623
- Complete, print, and mail the Consumer Request for Disclosure Form and send it to:
- Chex Systems, Inc.
- Attn: Consumer Relations
- 7805 Hudson Road, Suite 100
- Woodbury, MN 55125
Fax
- Complete, print, and fax the Consumer Request for Disclosure Form and send it to:
- Fax to: 602.659.2197
Conclusion
ChexSystems is just one of many CRAs used to gather your information. Reading your Consumer Report is the best way for you to learn about your previous banking history so that you are just as aware as the financial institutions of your own banking history. They provide many ways to order it and go through How to Order Your Free ChexSystems Report. Not being able to open a new bank account could seriously inhibit your ability to manage your own finances and could lead to financial instability. If you found this article to be helpful, then I would suggest checking out our other tutorials such as How to Wire Transfers, or simply How to Write a Check. If you would like to check out the list of business bank promotions, be sure to see our complete list of Best Business Bonuses for all your banking needs!