3.9 ChexSystems Suppression
Disclaimer: We apologize in advance for any grammatical and spelling errors in the slides.
About this module
In this video, we’re going to show you how to freeze your data with ChexSystems. It is a check verification service that provides information about the use of deposit accounts. If you’re opening a new account, most banks query ChexSystems’ database for red flags in your banking history.
Step-by-step Instructions
- Click here to start
- Select I agree
- Verify you’re 18 years old
- Hit submit
- Wait for the verification pin in the mail
Full Video Transcript
This particular cheatsheet, this is the one for ChexSystems. So ChexSystems, this is a bonus. It’s not necessarily associated with your credit, but it is associated with a checking account. So if you have a checking account that was charged off, a savings account that was charged off, then this is where you go. So ChexSystems is a process that you can just suppress that information from being shared so we can increase your chances of them not being pulled up, and then open up the checking account at a bank that you’re looking to get established. So what you want to do is follow the instructions here. So you’re going to hit, I agree, choose that you’re 18 years old. You’re going to want to enter in all of this information, along with your driver’s license, because that’s how they associated checking accounts with you. Put your current address here and enter the code and then hit submit. Be sure to read these instructions up here. So you know exactly what’s going on and that is it. So really simple. Get this done, extra credit, and especially you do you want to do this if you have had a checking account charged-off or a savings account charged off.