October 28, 2011

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ChexSystems

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One troubling statistic is that 25% of the U.S. population without access to the banking system. Some of that maybe by choice but the majority of it may be due to previous transgressions. If anyone in that 25% group wrote a bad check they maybe on a ChexSystems list. When someone attempts to opens a new checking account, banks often run the person’s name through ChexSystems list of checking account offenders. If your name is on that list banks will often reject your request to open a new checking account. Being without access to a bank account in what is becoming a cashless economy is really tough and no one should be without access to a bank account in these times.

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