ChexSystems | Definitionchek · si · stmz
Next word Co-Signer ᐳ
Typically, negative items remain on your ChexSystems report for five years.
So, you took the right step to get your money together and applied for a bank account. Yay! But, your application gets denied, and a few weeks later, you receive a packet in the mail explaining what happened. Included in the package is something called a ChexSystem FACTA report.
What is a ChexSystems Report?
Think of your ChexSystem Report as a credit report for bank accounts. Banks use your Chex report to decide whether to approve your application to open an account.
How to access your ChexSystems Report
You can request your free FACTA annual report using methods such as submitting a request online, by voice message, by mail, or by fax. Once you receive your ChexSystems Report, if you do not recognize the accounts or spot any mistakes, you have the right to dispute any errors.