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I tried to open a bank account and was declined because I have a ChexSystemsSM report. What is ChexSystemsSM?

April 26, 2017bank account chexsystemssm Declined report

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I tried to open a bank account and was declined because I have a ChexSystemsSM report. What is ChexSystemsSM?

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ChexSystemsSM, Inc provides deposit account verification services to its financial institution members to aid them in identifying account applicants who may have a history of account mishandling (for example, people whose accounts were overdrawn and then closed by their bank).