ChexSystems is a nationwide specialty consumer reporting agency under the federal Fair Credit Reporting Act (FCRA). ChexSystems is similar to the three credit bureaus, except it zeros in on your checking and savings accounts instead of your credit history. If you ever opened a checking or savings account, you have a ChexSystems report.
Bouncing checks or not paying back your overdrafts can get you on their negative list which could take 5 years to get off. Once you are on the negative list it is harder to open new checking or savings accounts.
One of your rights under the FCRA is to request your credit score. These are summaries of your credit-worthiness based on information from credit bureaus. There are a wide variety of credit scores available, and each creditor may use a different score or may give more or less weight to the score they use in relation to other factors. The ChexSystems Consumer Scores range from 100 to 899, with a higher score indicating a lower risk (which makes it easier for you to open a new bank account).
If you want to access your ChexSystems Consumer Score you can obtain it here.
If you can’t open a checking account because of Chex, consider a “Fresh Start” checking account.