All it can take is one tiny bounced check to ensure that you lose banking privileges for five years, thanks to the ChexSystems datatbase that most banks use to report banking activities of their patrons. ChexSystems was designed to be an effective risk management database for banks, though its critics charge that its punishments rarely ...
Car dealerships make the car-buying process relatively simple: they take care of the title transfer process and all you need to do is sign on the dotted line. However, transferring a car from one private owner to another is a tricky process – especially if the seller doesn’t provide a proper car title for vehicle ...
The ChexSystems nationwide database is owned by a company called eFunds. They offer multiple services that assist banks and merchants to help stop fraud, identity theft, and bank and merchant losses. Some banks are able to enter information into the computer and view reports online. Others still have to utilize the phone system and get ...
If a bank account has been closed with money owing, it is extremely difficult for an individual to get a new checking account. A report into ChexSystems can last for years, and during that time, it is extremely difficult for a person to obtain a checking account. Yes, there is the option for a prepaid ...
