Avoid ChexSystems Removal Services
This is a warning to all consumers considering hiring one of the ChexSystems removal services you see popping up online. These services are either scams or are operating under the law by filing fake police reports, etc and by doing so, could cause legal problems for you.
If your currently listed in ChexSystems and/or Early Warning Services and you are having issues opening a regular checking account, you have a couple of options. First is to get a solid prepaid card like the Ready Debit (sign up for Account Now since it cost less than most prime banks). Your second option is to find banks offering second chance checking accounts.
I know this is not what you wanted to hear, but you need to understand that one your listed in ChexSystems, your stuck for a minimum of 5 years, unless you can prove you did nothing wrong or you are an actual identity theft victim. If your listed in Early Warning Services, your stuck for 7 years and once again, it is extremely hard to get off the list.
As bad as ChexSystems and Early Warning Services seem, they are a necessary evil due to the massive fraud that banks face on a daily basis.
You do have rights though. Since ChexSystems and Early Warning Services are credit bureaus, credit reporting laws and the FCRA apply to them. So you can get a free copy of your banking credit report yearly and within 60 days of being denied a banking account.
I know this sounds harsh, but 99.9% of the time, if your listed in ChexSystems or Early Warning Services, you are there for a reason and there is nothing that a ChexSystems removal service can do for you. Unless your a victim of identity theft and can prove it your stuck. It is tough to think about, but it is a fact that you want to grab a hold of. Even if you are the less than 1% of mistakes, your going to find a difficult time getting any customer service from these companies as they are notoriously harsh and difficult to get along with.
Since ChexSystems and Early Warning Services are bound by the FCRA, they have to remove incorrect information. However, you can do this yourself and do not need a removal service to do this. If you are innocent or a victim of identity theft, grab your evidence and send them the information and be prepared to wait it out. By law they have 45 days to investigate and they use every one of these days to get their work done. This will be a daunting task and you will have to wait for ever and may even need to get an attorney. But before you go to such lengths, check out a reliable site like getbankingtoday.com for a free list of non ChexSystems banks and credit unions in your area that you may be able to open an account at or get a solid prepaid offer like the unlimited plan offered by the Ready Debit prepaid card.
Why ChexSystems Removal Services are Scam
ChexSystems removal services know that you are desperate and chances are you do not know your rights under law. So they prey on your desperation and lack of knowledge and offer services that you can do for your self at high prices. You either pay a flat fee (up to $500) or money down and a monthly fee that will drag on for several months to over a year. And the services they provide you can do yourself.
That is not the scam part. The scam part is that if they can not dispute if off (hardly ever works since the banks have a copy of your id and signature) they will use your power of attorney to sign identity theft affidavits and then file a complaint with the same company claiming identity theft. If ChexSystems or EWS investigate further, they will see the failed dispute attempts and then the identity theft claim and smell the rat being dropped in their lap. Once that happens, you run the risk of being reported for filing false identity theft claims and false police reports, all which are crimes.
Your best bet is to stay away from these ChexSystems removal services and save your money and avoid the possible criminal charges and get the Account Now or find a second chance banking account at mysecondchancebanks.com. I know this is not the option you want to hear, but it is better than losing your hard earned money and facing possible criminal charges for something you did not do or were not aware of.