Feb 09, 2021, 06:08PM

5 Doable Steps That You Can Do to Clear Up Your ChexSystems Report

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One of the reasons why a person must have a bank account is for financial security. Having a bank account allows people to secure their money for savings and safe-keeping. It also allows people to have access to credit or apply for bank loans, and most importantly, it allows people to manage their finances. With these advantages, it is greatly recommended that you must apply to open and have a bank account.

When you apply to open a new bank account, most banks will review your Chexsystems report to know or determine whether you are worthy of being approved of your application or not. If you get denied, there is a big chance that they spot a banking problem report on your record. This ChexSystems report should be cleared out first for you to officially open a new account. But how do you clear your record? 

Obtain a Copy Of Your ChexSystems Report

ChexSystems is a credible credit reporting agency that keeps a record of all your previous banking problems, such as unpaid fees and checking account misuse, within the past five years. Most banks generally communicate your banking problems to this agency so that other financial institutions, especially those you intend to open a new checking account into, would be notified and would regard you as a risky client or customer.

If you have a previous account on one of the banks or credit unions and tried to apply for another and got rejected, you must obtain a copy of your ChexSystems report. In that way, you can confirm the list of problems why you got denied for your application, and you would then be able to know what steps to take to clear your record.

You may obtain your report or record by either calling ChexSystems at 800-428-9623 or visiting their website online. In case you find an error on your record, you may report this to them and wait until ChexSystems disputes this inaccurate information for you.

Check For Errors On Your Report

Your ChexSystems report generally contains your past bank account activities, such as your identifying information, your unpaid negative balances, your bounced checks and overdrafts, your account inquiries and applications, and some of your suspected fraudulent activities as account or ATM abuse.

You must run through each of these items on your ChexSystems report and check for some errors. In case you find one, you may dispute this error in two ways: one is by contacting the financial institution to dispute this error, and the other is by allowing ChexSystems to do the dispute for you. 

If you choose to do the latter option, you may visit the ChexSystems website online and go to the Dispute Information Section of the website. You will be given different choices on how to submit your dispute. 

If you opt to submit your dispute online, you must click the button that says "submit your dispute now" and fill out the form, as well as upload your files that support your claim. Once you are done filling out the dispute form, click the submit button at the bottom of the page.

Pay Off Your Remaining Debts

If, after checking your report, you haven't found any error, the most effective way to clear up your ChexSystems is to pay off all your remaining debts or outstanding balances on your report. To pay them off, you have to sum up all your debts and determine whether you can pay all your balances in one payment.

If you can't afford to pay them all in one payment, you may opt to pay the smallest balance first up to the largest, or vice versa. When you decide which ones to pay off first, arrange a payment plan and debt settlement agreement with your creditors and pay them until you clear all your balances.

Ask Your Creditors To Remove The Information

As you arrange a payment plan with your creditors, you must also arrange a debt settlement agreement with them, stating that you want your information removed from the ChexSystems after paying them off. When settling an agreement, you have to settle it through writing (via email or contract) so that you have evidence if things go wrong.

Wait Until The Information Drops Off Your Report 

The negative information on your ChexSystems report can last up to five years. You may opt to do the other options mentioned above, or you may choose to wait until the information on your report drops off with time.


Negative banking information on your ChexSystem report can hinder you from opening a new bank account to another financial institution. To avoid this, you may consider the options mentioned to clear up your record first before applying to open a new account. After clearing up your record and finally opening a new bank account, you must be more financially responsible now for you to avoid facing the same problem in the future.


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