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#1 vivyip


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Posted 20 May 2005 - 10:26 PM

I remember finding something about ChexSystems when I first started going on the bonus spree.

I remember it because a bank overrode their system to open a checking account for me. (I have a suspicion it's a Maryland bank thing; more on that later) I found the ChexSystems Bites website and read the problems people had.

After opening more accounts and receiving bonuses since then (I've slowed down to maybe one a month) I relaxed a bit and when my local credit union had a grand opening promotion going on, I decided to open an account.

Unfortunately, they refused to open an account for me. (And here people say credit unions were nice.. happy.gif Here I was wanting to open an account that had no perks...I just wanted to hold an account so that in the future I could get a good loan rate and stuff...) I checked again about a month later and they still refused....oh well. I think it might be a Maryland thing since the two places that I had encountered were relatively smaller than the bigger banks that seemed to use credit report instead.

Anyway, after checking up on the chexsystem bites and their forums, I decided to grab my "report" which was the reason for the credit union refusal. I had to go to this misnamed website and enter my information.

Today I received my "report." Let me tell you, the word "report" is a misnomer. It's just a printout of banks that entered information into their systerm. NOTHING else! no reason, just your name, date, bank, and the last 4 digits....for the past 2 years....on top of that, I see repeats, even when I can't think of a reason -- like a credit card or any sort of account It's a waste of paper....sigh. (end mini rant? happy.gif)

Well, that being said, this is only from my report, but these banks enter info into this questionable system (people have said 80% of banks use it, but unless it's the small banks, I've had no problems):

Sandy Spring
Provident Bank of Maryland*
Principal Bank
Mid-Atlantic Federal Credit Union**

(* manger overrode the system, ** refused to open account for me)

The banks NOT on the list:
ING Direct
Sovereign Bank

If i remember correctly, BoA does a credit check (pull?) but I'm not sure about the others...it's probably the same reason...oh well.

Hope this might be able to help someone.

Thank you for reading this.

#2 markber


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Posted 21 May 2005 - 06:19 PM

You need to make sure that you do not have more than three requests of your ChexSystems report within the last three months before applying for a new deposit account. Otherwise, many banks will not open accounts for you.