ChexSystems
ChexSystems is a specialty consumer reporting agency that tracks checking and savings account history and provides risk screening for financial institutions.
Open productWhat it does
About ChexSystems
ChexSystems operates as a specialty consumer reporting agency under the Fair Credit Reporting Act (FCRA), focusing on checking and savings account history rather than broad credit scoring. The agency logs negative banking events such as overdrafts, unpaid fees, non-sufficient funds, bounced checks, and involuntary account closures. Financial institutions, including banks and credit unions, utilize ChexSystems disclosures alongside Qualifile tools and risk scores to evaluate applicant risk when opening accounts. Consumers can obtain one free disclosure report every 12 months online, by mail, or via telephone, and may challenge reported errors to initiate a 30-day reinvestigation.
- Availability:
- launched
- Access:
- free
- Format:
- service
- Platform:
- web
Pricing at launch: Consumers are entitled to receive one free consumer disclosure report every 12 months.
Core capabilities
Banking History Tracking
Tracks negative banking history events including overdrafts, unpaid fees, non-sufficient funds, bounced checks, and involuntary account closures.
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