You should review these annually to be sure Chexsystems and SCAN are reporting accurate information on YOU!
Under the Fair and Accurate Credit Transaction Act (FACTA) amendments to the Fair Credit Reporting Act (FCRA), you are entitled to a free copy of your Chex Systems & SCAN report, at your request, once every 12-months.
What is ChexSystems?
ChexSystems is a check verification service and consumer credit reporting agency like Experian, Equifax and TransUnion. While most credit reporting agencies broker data about how a consumer handles credit relationships, ChexSystems provides data related to how a consumer has handled deposit accounts at banking institutions
Shared Check Authorization Network (SCAN) is a comprehensive database of bad check writers in the United States. The database is used by retailers in order to reduce the number of bad checks received. The database keeps track of those who have written outstanding bad checks to any retailer using the system, and retailers can determine, based on these records, whether or not to accept a check from a particular accountholder.
Retailers using the SCAN system have at least one scanner in the store, and often one at every register, that is used to scan checks that are written. The scanner reads the account number and compares it with the database of checking account numbers for which bad checks have been written to any participating retailer and not repaid. If the account number matches one in the system, the retailer will be notified, and will not likely accept the check.
For those who are concerned, since it isn't exactly clear, this is NOT a third party site. It is in fact, managed by eFunds (which owns Chex).
E Funds 8501 N Scottsdale Road Suite 300 Scottsdale, AZ 85253-2750 US
Domain Name: CONSUMERDEBIT.COM
Administrative Contact : Groth, Mark ContactMiddleName hostmaster@efunds.com 4900 N Scottsdale Rd. Scottsdale, AZ 85251-7611 US Phone: 480-629-7679 Fax: 480-629-7675
Technical Contact : Network Solutions, LLC. customerservice@networksolutions.com 13861 Sunrise Valley Drive Herndon, VA 20171 US Phone: 1-888-642-9675 Fax: 571-434-4620
Record expires on 05-May-2009 Record created on 05-May-2004 Database last updated on 12-Oct-2006
althes said: thanks alot for the links.OP, how did you ordered them online? If you have not been declined an account during the past 60 days where ChexSystems was used in the decision process, OP's website doen't work.
If you want to learn what information is contained in your ChexSystems report:
Follow the link in the post and answer the questions.
Your options will be presented as follows:
To order by Phone Using Our Voice Message System: Call 1-800-428-9623
To order by Mail step 1 - Print and complete the Order form(available in printable format) step 2 - Mail to: ChexSystems Attn: Consumer Relations 7805 Hudson Road, Suite 100 Woodbury, MN 55125
To order by Fax step 1 - Print and complete the Order form(available in printable format) step 2 - Fax to Consumer Relations at 602-659-2197
If you have not been denied an account in the last 60 days and chexsystems was in the decision then follow the link in the post, answer the questions and submit the request on-line.
glxpass
Senior Member - 5K
posted: Jan. 3, 2008 @ 8:59p
DreamKrusher said: If you have not been denied an account in the last 60 days and chexsystems was in the decision then follow the link in the post, answer the questions and submit the request on-line. It looks like you can only submit the request on-line if you have been denied an account in the last 60 days. Otherwise, you get the phone and mail ordering procedures. Green, OP, for the useful information.
Here's the cardreport.com overview of ChexSystems that's very informative and seemingly objective, with additional useful links. One thing, though. It says that Deluxe Corp owns ChexSystems.
My understanding is that The Deluxe Corporation bought ChexSystems in 1984, but ChexSystems is now owned by Efunds (as a previous poster mentioned). Efunds owns many other companies. From Consumers Info USA - Who is ChexSystems? "Efunds... the company that owns ChexSystems, Deluxe Corporation, also owns Current Checks (a.k.a. Checks Unlimited), Designer Checks, SCAN (Shared Check Authorization Network), the Debit Bureau, which tracks your check-writing history, and Deluxe Direct Marketing Services."
It's very interesting (and perhaps a little scary) how pervasive Efunds is in many aspects of check-related services.
onionstink
Senior Member
posted: Jan. 11, 2008 @ 10:57p
I STRONGLY encourage people to get their report. My credit report is perfect, no bad marks at all. But I got denied for a bank account. I turns out that there was an error on my chex report. You'd think they could just have a combined system.
Gennyfer
Member
posted: Jan. 19, 2008 @ 1:32p
I second the suggestion. It's a good idea to get a copy of your report just to know what you might be facing when you apply for a bank account (including CDs). As mentioned in the flame-free zone, my application was denied and I was so upset I posted a question without waiting for the report. I also sent an email to the credit union asking them to reconsider.
Date point: Denied Monday January 14th; immediately ordered report through the link on the denial page. The report was dated and sent Tuesday the 15th from Minnesota and arrived Friday January 18th in Southern California.
Before I got the report Friday (mail arrives around 4PM), I got a call from the credit union saying they had reviewed my report and I could get the rewards account but I'd have to use the paper application. The CSR even emailed me the form, although it's available on their web site. So if I'm ever denied again, I will request a review by humans.
Data point: The "inquiries" listed on my report were primarily from CD purchases. Some banks inquired each time I purchased, e.g. I have 3 CountryWide CDs, purchased with a 2-month period, and there are 3 CountryWide inquiries on the report.
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