ChexSystems Reviews

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Overall Rating1.8 out of 5
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About ChexSystems Reviews

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ChexSystems is a consumer reporting agency under the Fair Credit Reporting Act (FCRA) that maintains a database of information related to consumer banking activity. Specifically, it tracks information about consumers who have had issues with their checking or savings accounts, such as overdrafts, bounced checks and account closures. Banks and credit unions use ChexSystems to help determine whether to approve a new account application.

Pros & Cons


  • Free yearly report
  • Prevents fraudulent activity


  • Can limit consumers’ banking options
  • Limited transparency

Bottom Line

If you have been denied a new bank or credit union account, a ChexSystems report can help you discover why. It records your banking data, and the free yearly report can help you see where you stand as a consumer and if you need to dispute any errors.

What is ChexSystems?

Founded in 1971, ChexSystems collects and maintains data on banking accounts, including checking and savings accounts, and reports that information to its member financial institutions.

ChexSystems also helps consumers to understand where they stand in the eyes of a bank or credit union. You can also place identity theft security alerts and account freezes to ensure your consumer data remains secure.

While you must be 18 years or older to request a free report, individuals can request a copy for minors.

How does ChexSystems work?

ChexSystems works by gathering and maintaining information on consumer banking activity from its member banks and credit unions. When you open a new checking or savings account, the bank or credit union may run a ChexSystems report to check your banking history.

The report will include information about any negative activity you may have had, including:

  • Overdrafts
  • Bounced checks
  • Account closures
  • Too many accounts applied for recently
  • Account or ATM abuse
  • Any suspected fraud or identity theft

If you have a negative report on your ChexSystems record, the bank or credit union may deny your application for a new account, or it may require you to pay additional fees or maintain a higher minimum balance since you are seen as a higher risk.

ChexSystems services

ChexSystems offers a handful of services to its banking and credit union partners, as well as help for consumers. Here are the main options:

ChexSystems provides banks and credit unions with account screening services to help them make informed decisions about whether to approve someone for a new account.
ChexSystems offers dispute resolution assistance to consumers who believe their banking information is inaccurate or incomplete.
ChexSystems provides financial education resources and tools to help consumers understand and manage their banking history. The agency offers online resources, webinars, and other educational materials to help consumers build financial wellness and achieve their financial goals.

ChexSystems FAQ

How long does a closed account stay on a ChexSystems file?

ChexSystems keeps closed accounts on record for up to five years from the report date. It can be removed sooner if the source of the information requests its removal or ChexSystems becomes obligated to remove it under applicable law or policy.

Is ChexSystems a secure online site?

ChexSystems takes steps to ensure the privacy and security of consumer transactions with Secure Socket Layer (SSL)/Transport Layer Security (TLS) to encrypt internet transactions.

If I pay what is owed on an account, will ChexSystems remove a negative mark?

Banks and credit unions are not obligated to remove an accurate report, even if you restored your good standing with the financial institution. However, they are obligated to report that you have paid in full or settled in full status, so that your report reflects that information.

Can I dispute a negative mark on my report?

Yes, you have the right to dispute any inaccurate information directly with the source, or you can bring your claim to ChexSystems and it will contact the source on your behalf. You can provide additional documentation to support your case, including any of the following: identity theft affidavit, police report, account statements, paid or settled-in-full letters or death certificates.

Is ChexSystems legit?

ChexSystems is a legitimate consumer reporting agency that works closely with many well-known banks and credit unions. Even though many consumers do not feel like they benefit from this company, you do have the right to review your report and dispute inaccurate information. ChexSystems is not a collection agency and will never attempt to collect money from you.

You can contact the automated system 24 hours a day or get in touch with its customer service department during regular business hours.

ChexSystems Reviews

ConsumerAffairs has collected 65 reviews and 30 ratings.

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Page 1 Reviews 0 - 10

Reviewed Aug. 23, 2023

I just moved to a new city and tried to open a checking account. ChexSystems prohibited me from doing that. My credit score is 820. I've owned several properties. I paid off my Mercedes a year ago. I couldn't be a better risk and yet they told the bank I was a bad risk. When I received the "Report" there was NOTHING on it. My past addresses were correct but that was the extent of the correct information. The entire report was "No information found" I've been trying to talk to a representative of the company without any success. Why are they still in business?

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Reviewed July 27, 2023

They give banks false information. It's impossible to get hold of a live person. Try to request a report and the website just keeps refreshing! I be been turned down by several banks even though my credit score is over 800 and just came into a lot of money. I tried to open a $50,000 cd and was turned down because of ChexSystems. One of the biggest scams! This company should be banned. Check out other reviews on here.

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    Reviewed July 11, 2023

    ChexSystems is a bleepin' nightmare to deal with. If you've put a freeze on your credit for security reasons and need to open a bank account, you'll invest significant time (hours) trying to get ahold of a live person, and when you do, they tell you to call another number for which there is no representative available if though it is during business hours. I requested my security freeze pin be mailed to me 1.5 weeks ago and still haven't received it. What a ** show this place is!

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    Contract & TermsOnline & App

    Reviewed June 24, 2023

    It’s ironic that ChexSystems has information on you that you have to use to verify when trying to get a copy of your Consumer Report or register to their site BUT they don’t use this info to help get your application approved! And after you hit submit for your Consumer Report, the site is stuck on the processing wheel spinning and spinning. And, after you register to their site so you can see if you can get better service, they don’t allow you to save the User Terms and Conditions as a PDF! How can a company with inaccurate information and a poor website have this much control over consumers?

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    Reviewed July 30, 2022

    I got this letter in the mail today. It says, ''This letter is to inform you of your right to your customer 'Disclosure Report' as required by Colorado State Statute because ChexSystem... has received 8 inquiries about you within the past 12 months or has received negative furnished information about an account associate with you..'

    The letter continues to state that to request the 'customer Disclosure Report', I need to provide my birth date, SS, address (current and past), etc. I am lost. ChexSystems' address is in MN. The letter references Colorado. While I live thousands miles away, with no friends, relatives and few businesses there. What is ChexSystem? Just because they said they got inquiries or 'negative info' about me, I should send them all my personal info? Why can't they be specific about what they got on me? There is a big difference between 'inquiry' and 'negative info'.

    I have no debts, and I don't need any loans. Yet ChexSystem wants to threaten me with ambiguous wording like 'inquiries or negative info'. If an elderly in fragile financial and mental state got this letter, she would be so stressed out or panic, thus frantically hire someone to fix, which exposes her to more threats and fraud. I do recall opening a few accounts with a bank in Colorado recently. Can I ask them if they have inquired or reported me on ChexSystem?

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    Reviewed May 13, 2021

    Don't trust this company or any company that works with them. They don't even honor freezes. I tried to unfreeze my account and it ended up not even working so I had to move to another bank. When I tried to contact them I was answered by someone who could barely speak English who wasn't helpful at all.

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    Reviewed April 12, 2021

    My CONSUMER SCORE DISCLOSURE REPORT as well as CONSUMER DISCLOSURE REPORT have NOTHING on them but addresses and inquiries viewed by banks. But apparently my score is 500 despite having 0 on my record. I called them and they even verified there is nothing on my report which NEGATIVELY affects me. Totally blows my mind how incompetent this system is. I can't even get a new credit union account in my city because of this. My credit score is 670-690 and I have 0 collections, 0 negative impacts on my credit score.

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    Reviewed April 7, 2021

    I was denied a credit union savings account due to ChexSystems report: "Insufficient DDA inquiry activity same FI" and "Recent unique FI DDA inquiry history." What does this mean?! Plain language please!

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    Reviewed April 5, 2021

    With much difficulty, I requested a report from ChexSystems after I was notified of a discrepancy by my bank. It seems someone entered my social security number along with a different person's name into the ChexSystem at some time. It was explained to me that this could either have been a clerical error as one or more numbers entered incorrectly or someone was fraudulently using my social security number. I was able to get a portion of the information from ChexSystems via phone. I was given instructions via phone to complete online. I did exactly as I was asked to do.

    The report I received later in the mail DID NOT include the information that I was given on the phone. In a letter mailed to me with my report, ChexSystems said they had "initiated the process of reinvestigating this matter." They went on to say, "When the reinvestigation process is complete, Chexsystems will provide notification of the results." They DID NOT complete the investigation. They did remove the discrepancy so it will no longer show up in the future but they did not complete the investigation as they should have and as they told me they would. So I still do not know if someone was using my SSN fraudulently or if someone entered a key by mistake. Now they say the information is forever permanently deleted and they have no way to retrieve it and they can't understand why I'm upset.

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    Reviewed Jan. 30, 2021

    This is a terrible company, I don’t understand why American financial institutions use this system. I have been waiting on a pin to lift a security freeze and I have yet to receive it after WEEKS!! Every time I call to ask how much longer and where it is being sent from I get another location which makes things even more frustrating. I have applied for a loan and the only thing I am waiting on is a pin from Chex to lift the security freeze... They only send it through the mail ... no tracking ... it’s not expedited ... no clue where it is ... nothing.

    If this report is that important and ‘trusted’ by so many institutions don’t you think they should invest in better faster online solutions or tracking on ‘secure’ information being sent out! I even offered to verify my information at the location headquarters to lift the freeze but nope, the procedure is to send it through the mail no matter what which leaves me to believe it is probably being sent from overseas. If I can get a copy of my birth certificate online and open up account all online why should I be waiting a month to receive a pin? A PIN number! A month! This system should seriously be abolished.

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